barry&carol

Wondering if anybody who has now made the move to Oz has rented or purchased a property as soon as they arrived. What might they advise ? We assume we will rent when we first arrive until work is found and have spent several months in a job/area where we are happy but on the other hand we 'should' have enough money to purchase a property with no need to apply for a mortgage and wonder if this may be the better option.? Any thoughts / experience from anybody will be appreciated.

Initially we will head for NSW (Woy Woy - Sydney) where sister lives but unsure if we will stay there depending on employment and house prices are dearer here. Thanks

Terry

The way I see it is if you buy it gives you a better chance of making a real go of things by establishing your roots early and so making it harder to come back. But it may also be wiser to wait and see if the area you have chosen is right or indead australia right for you, decisions decisions.

With family there it must be a lot easier to work out what areas to go to.

Good luck in what ever you decide.

Terry

awhitake

Hi - I moved to Sydney three years ago and we went through the same dilema. The rental market is very good at present as in most cases you can negotiate on the weekly/monthly rate. We've looked into buying and will do so at some point in the next 6-12 months as the property market, which in the last 5 years or so has been getting mroe and more expensive, is levelling off and in a number of cases dropping somewhat. Woy Woy is some way out of Sydney and so I cannot comment on the local market there, but my advice would be to rent first...it also depends what visa status you have as to how easy it is to buy. If you are coming here as a Temproary Resident then you have to go through a certain amount of red tape to buy something. It's different if you are perm residents and much simpler. Have a look at the Australian Foreign Investment Board website and this will tell you all you need to know. The other point to remember is that most houses here are sold via Auction and so it could take you some time to get the house of your dreams!! Good Luck..

heading downunder 2002

I would advise renting at first. If you struggle to get a permanent job out here as many do you will need some of your capital to live of. It also gives you time to get to know the areas and choose in which you would really like to buy or you may decide like many to build.

pommie bastard

Renting is easy here but you may have to sign up for a 6 month lease , this time will give you a chance to look around and sort out where you will work and how near you need to live .
Its not possible to get a feel for location or home prices as soon as you arrive slow down and talk to people went you get here.

kevmitch

We're hoping to arrive in Sydney this July/August with a plan to rent a furnished flat for a very short period (1 to 2 Months until our stuff arrives), then rent an unfurnished house somewhere in the Northern Suburbs (Pennant Hills, Ryde, across to Dee Why or Collaroy) for 6 to 12 months before buying. What's the market like in this area? You mention negotiating rates, any guide on how much - and is this better wit the agents or directly with the landlords?

Thanks

Kev

Herman

Me again.
You'll typically have to deal with agent - and be warned, they are absolute cowboys here and they will always try to convince you that "this one wont last". Ignore their bullshit and my advice is negotiate HARD for a rental because there is a massive glut of investment property out there. Huge numbers of apartments for sale, which were bought as investments but remained untenanted. We got our apartment (back in June last year) down from $700pw to $425pw. Seriously. They wanted $700 and we said "we love it but not at that price". They called back and suggested $600pw and I responded with $400pw. The agent laughed at me and said I must be mad to which I said we'll move in immediately at $400pw, otherwise forget it. Anyway, a week later they called me back and said $450pw and eventually we agreed to meet in the middle. Since then the situation has become worse so dont be afraid to offer what in good times would be an insult, there are plenty of empty apartments to choose from and if they reject your offer it'll be a few more weeks of unfinanced mortgage payments for the owner!

kevmitch

Thanks for that. Knowing me, I'd have gone in 10% lower and thought I'd got a bargain!! I hadn't realised the market was so saturated, but that sounds like good news (for the tennant at least). If you're still around when I arrive, I definitely owe you a beer!!