VIC Moving to the country

Discussion in 'Property Analysis' started by Speck1, 12th Mar, 2018.

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  1. Speck1

    Speck1 Well-Known Member

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  2. Scott No Mates

    Scott No Mates Well-Known Member

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    For work? Family? Retirement?

    Long-term prospects?
     
  3. WallyB66

    WallyB66 Well-Known Member

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    it's a personal call- couldn't move to country personally as low threshold for boredom (personal weakness # 112) - v personal decision tho...
    Like title of ur post btw can i add "gonna eat me a lot of peaches" :p
     
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  4. Biz

    Biz Well-Known Member

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    You gonna eat a lot of peaches?
     
  5. Speck1

    Speck1 Well-Known Member

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    Presidents of USA - like it.
    The house itself, I would say the same house in say a Werribee/Geelong would be $450,000.
     
  6. DaveM

    DaveM Well-Known Member

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    It has NBN
     
  7. DaveM

    DaveM Well-Known Member

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    And if I was moving to the country I would be buying an acreage not a house in the town. But thats me.
     
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  8. Speck1

    Speck1 Well-Known Member

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    Yes has NBN.
    Just a large block.
    Was thinking acreage too.
     
  9. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Loads of issues with regional areas.

    Remoteness, access to main roads, rail etc. Health facilities can be appalling to just poor. Good example is Coffs Harbour. Has a hospital. But a huge number of patients get thrown onto airplanes and sent to Newcastle or Sydney cause specialists arent there. This issue occurs all around country. Inability to drive can be a experience too - Trapped in that place all because of a injury to you / spouse.

    Friends have recently gone country and found that getting involved in community is only way to meet since you dont see each other is shops etc. Can be very isolating as they found in first few months - One of their neighbours helped bring them along to local meets etc They joined rural fire service and CWA and other groups and its helped heaps. But they have found they are the young ones in town and spend a bit of time travelling to city for family etc. So distance to "home" may be important too.

    Finding work can be almost impossible except real in demand jobs IF a vacancy comes up. And what you will earn will be very different to city. Setting up a business will be slow. You will be the out of towner a long long time. Hard to get locals to buy from out of towners
     
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  10. Speck1

    Speck1 Well-Known Member

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    I think the house is a good buy even if we rent it out.
     
  11. hobartchic

    hobartchic Well-Known Member

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    Had a quick look at the suburb data. Likely to be difficult to rent out, sales sentiment is down, overpriced for the area and age of the house. Sales volume is down. Looks like a high risk investment but maybe the area will turn?
     
  12. Speck1

    Speck1 Well-Known Member

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    Only 20 minutes from Hamilton where everything seems to be selling.
    Will wait.
     
  13. hobartchic

    hobartchic Well-Known Member

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    Six months ago it looks like it was. Now, sales volume is down considerably, price is fairly flat (annual growth rate of 0.6%), rental returns are down, market sentiment is down slightly. The market looks flat with likelihood of reversing good fortune.
     
  14. Speck1

    Speck1 Well-Known Member

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    Another idea for us is buying a 1acre block in the country and building a new home approx 220k base.

    Any tips/advice.
     
  15. The Y-man

    The Y-man Moderator Staff Member

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  16. Speck1

    Speck1 Well-Known Member

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    buying a bit of land and building.
    or house and land package.
     
  17. Speck1

    Speck1 Well-Known Member

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    If you buy house and land?
    say land 70k and
    gouse package 230k?

    What is minimum up front payment for each?
    What others do you have to pay up front if building.
     
  18. Speck1

    Speck1 Well-Known Member

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    is it 10%?

    what other costs are involved?
     
  19. Corey Batt

    Corey Batt Well-Known Member

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    No thanks. I spent a few years in a country town with circa 300 people in it - everyone was bored crazy and unsurprisingly a lot of alcohol consumption in the town because of it. Moved to a town with around 1200 people and that was slightly better - but still lots of alcohol misuse, teenage mums and unemployment.

    I'd sooner go semi rural fringe of metro - where you'll pay slightly more but be within a reasonable drive of metro.
     
  20. ellejay

    ellejay Well-Known Member

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    To me any disadvantages of living in the country are outweighed by the benefits. Each to their own, it depends on your tastes. I'm over older houses though and the Gladstone one above looks horrible. If you can I'd try to get a block of land and do a new build.
     

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