SA Adelaide for $1M

Priced out of Sydney and starting to think Newcastle is now overpriced. I run my own business and my husband can work remotely the majority of the time with work in the office 3 days a fortnight. So we are thinking maybe it makes more sense to go to Adelaide? Maybe purchase investment property live in it for a year or two then either migrate permanently or rent out. Where would you be looking in Adelaide? Thanks

 

Well, without knowing your preferences for #br, style of home, location (beach, inner, or hills) ...

Anyway, my pick: https://www.realestate.com.au/property-house-sa-parkside-136540262

Also here are some more 'character-ish' houses in good locations on >600m2
(some are auctions so who knows final $)

https://www.realestate.com.au/property-house-sa-prospect-136545502

https://www.realestate.com.au/property-house-sa-prospect-136665582

https://www.realestate.com.au/property-house-sa-urrbrae-136650254

https://www.realestate.com.au/property-house-sa-glen+osmond-136618470

https://www.realestate.com.au/property-house-sa-lockleys-136668434

https://www.realestate.com.au/property-house-sa-prospect-136626814

https://www.realestate.com.au/property-house-sa-tranmere-136595110

https://www.realestate.com.au/property-house-sa-torrensville-136595490

https://www.realestate.com.au/property-house-sa-royston+park-136673874

https://www.realestate.com.au/property-house-sa-black+forest-136516730

https://www.realestate.com.au/property-house-sa-lower+mitcham-136556314

 

Thank you so much! Some good properties there, I like the Royston park one a lot.
A friend has also told me to look at Bowden and Norwood.
We would be looking at 3+bedrooms with outdoor space and ideally 2 bathrooms or room to renovate and add in.
Is it similar to NSW that places will sell for 10% above price guide? Is there anyway of looking at what the price guide to sale value was for last 3months of sales?
and any recommendations of building inspection and solicitors to use?
Thank you

 

Buy 6 in Elizabeth!

 

The figures reveal that Elizabeth is officially Adelaide's most dangerous suburb, with more crime recorded over the 2019/20 financial year than anywhere else in the city. - no thanks

 

Why Adelaide? Why not Brisbane?

 

Just personal preference. We would prefer to live in Adelaide than Brisbane.

 

I would suggest looking at anything between the city and the sea i.e Mile End to Henley. Considerably more affordable than the eastern suburbs and if you like being near the beach then a clear winner in that regard.

As for quoted price vs final price...account for at least a 10% difference

 

In doing so, just consider airport flight path noise. Ive had places in Mile End we've managed where the planes almost clip the TV antennas on the way through

Corey and I wrote a review on western suburbs here - Inner Western Suburbs Adelaide [SA] although the numbers will have changed being that it was a couple years ago.

 

Its not that far from the million dollar suburbs referred to.

 

If you have kids and are interested in schools I would look at the eastern suburbs and or inner ring suburbs in any direction. The only inner ring suburbs I'd steer clear of are the western ones solely due to the fact that they are located close to Adelaide Airport.

Personally with $1 million I'd buy a nice house around Lower Mitcham/Westbourne Park. Leafy streets, close to the CBD, good public schools, great public transport access and plenty of shops and cafes in close vicinity.

 

I would recommend anyone interested by unfamiliar with ADL to read through all of @D.T. and Corey Batt's guides to suburban regions. Search them out.

 

Thank you all so much this is really useful. Been doing some analysis of properties sold at auction over last month versus price guide. Looks like ranges 6-25% over price guide. If you were looking to buy a house 3 bed 2 bath in a central suburb eg prospect, brompton, Bowden, thebarton, mile end etc. what sort of % above price guide would you be expecting to pay at current market? Or is it really just a case of individual house and bidders who are willing to pay whatever it takes?

 

You've pretty much answered your own question here. 6-25% is a pretty good range to work with. Just comes down to how misleading the agent is daring to be.

The best thing you can do is study the recent comparable sale prices which will give you a good idea of the expected auction price and more importantly what you should be paying for that type of property.

 

Looks like lockdown is likely to mean we can’t be there in person to bid at Auction next week. Agent has said it’s a “conflict of interest” for them to have an agent there and allow me to bid via the phone remotely which I have to say I don’t understand. Is my only option paying a buyers agent 1% to be there in person? That’s 10-12k!! Any other options people can suggest? Thank you