Australia
What do I need to know when buying property in Australia?
When we asked expats what advice they would give a foreigner before buying a property in Australia, they said...
"1. First, it is important to understand the local market, research and compare prices of properties in the area in which you wish to purchase. 2. Talk to a buyer's agent and/or property attorney to get help, advice and assistance in the purchase process. 3. Familiarize yourself with Australian laws and regulations regarding property ownership. 4. Get a building and pest inspection to assess the condition of the property before purchasing. 5. Make sure you have appropriate insurance in place to cover any unexpected costs. 6. Be aware of any hidden costs, such as transfer fees, mortgaging fees, legal fees, and other fees associated with the purchase. 7. Consider long-term maintenance costs for the property. 8. Speak to a qualified tax adviser to make sure that you are aware of any tax implications associated with the purchase. 9. Have a clear plan of action and timeline, and know what steps need to be taken in order to purchase the property. 10. Investigate the loan options available to you, and ensure that you are making a decision that is financially responsible," wrote a member who made the move to Australia.
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- What are the schools in Australia like?
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- Is the cost of living in Australia high?
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- What is the weather like in Australia?
- Are there good restaurants in Australia?
- Where will I buy groceries and do other shopping in Australia?
- What are the visa & residency requirements in Australia?
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- What do I need to know when buying property in Australia?
- Are foreigners allowed to own property in Australia?
- What appliances are typically included in a rental?
What do I need to know when buying property in Australia?
If you live in Australia, newcomers to Australia would love to hear your answer to this question:
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
