How to get the most bang for your buck when it comes to property sizes

Since the pandemic began, a greater proportion of Australians have prioritized larger homes and larger lots while looking for a property. But where should you look? A new search tool can help you figure out which suburbs provide you the most bang for your cash.

‘Please provide me with a home amid the gumtrees…’

There’s no doubting that COVID-19 has influenced public perceptions of how a family home might help people achieve a better work-life balance.

Families are focusing their house-hunting efforts on areas that provide larger homes with home offices, or simply a safe, secluded, and roomy location to raise the kids, as flexible work arrangements become the norm.

However, you are not need to relocate to the outskirts of a city in order to obtain a larger, more affordable home.

All you need to know is which neighborhoods are most likely to lead you to a hidden gem.

A new tool can assist you in determining where to look.

This new realestate.com.au tool (mobile link here), which estimates each suburb’s median estimated price per square metre (depending on plot size), can assist you in determining which suburbs offer the best value for money.

That’s because it not only shows you the median valuation per square metre for the suburb you choose, but it also shows you the same information for the suburbs nearby.

This may enable you to narrow your search to a neighbouring suburb with a more appealing projected price per square metre.

Teneriffe, for example, is one of Brisbane’s most expensive suburbs, with a median estimated property price of $5196/sqm based on a typical plot size of 441sqm, topping the city’s list.

The neighbourhood of Bowen Hills, on the other hand, is only 400 meters away, with a median projected property price of $1621/sqm based on a larger typical plot size of 652sqm.

When you consider that the world’s fastest man in the 400-meter dash runs in 43.03 seconds, it’s not bad…

Property is selling at a faster rate than ever before.

But here’s the thing: you won’t be the only one looking for a bargain.

In fact, houses are selling at an all-time high right now, with the average number of days spent on real estate websites plummeting to an all-time low of 32 in May.

It’s a good idea to look into your loan alternatives as soon as possible to help boost your chances of getting a house in this hot market.

So, if you’d want to learn more about what you need to do to make your dream of owning a home a reality, contact us immediately. We’d be delighted to assist.

To learn more, contact Premium Finance Group Australia at (07) 4720 8888 or email us at finance@pfga.com.au

 

Disclaimer: The content of this article is general and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your situation and may not be relevant to circumstances. Before taking any action, consider your particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced, or republished without prior written consent.

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