Finding and building a dream home holds significant importance as it represents the realisation of one’s aspirations, desires, and vision of an ideal living space. Unlike a typical house purchase, a dream home is where individuals and families can feel a deep sense of comfort, contentment, and belonging. It goes beyond shelter, reflecting their lifestyle, values, and personality. Building a dream home allows people to tailor every aspect of the property to their specific needs and preferences, from the architectural design and layout to the choice of materials and amenities. This level of personalisation fosters a strong emotional connection to the space, making it a place where cherished memories are created and cherished.
Additionally, a dream home can provide a long-term solution, eliminating the need for frequent moves or renovations. It can also contribute to a better quality of life by being strategically located in a desired neighbourhood, close to amenities, schools, and workplaces, thus enhancing convenience and reducing daily stress. Ultimately, finding and building a dream home is a fulfilment of a lifelong ambition, representing a symbol of achievement and success. It’s a significant milestone in life that brings joy, satisfaction and a sense of stability to those fortunate enough to attain it. Our trusted experts share their top things to consider when creating a home you’ll love forever.
Off-the-plan opportunities for property investors
According to David Crawley, the best advice for off-the-plan purchases is to ensure that your real estate agent offers properties from reputable builders and in locations of potential growth and infrastructure. Buying off the plan can be risky if the builder is unknown as we have seen some poor-quality examples delivered in NSW Australia. Ensure the builder has a good reputation for delivering projects on time with good reviews from previous purchases. David Crawley also suggests avoiding over-emotional purchases and to “remember that rates are variable and the price you pay is consistent”. David Crawley, LJ Hooker Burwood
Future market projections and insights
Real estate agents can provide valuable insights into future market projections based on current trends, economic indicators, and housing demands. We analyse factors such as population growth, infrastructure development, interest rates, and market supply to forecast potential property price movements. Remember, projections are estimates and subject to change as the market fluctuates. It’s always best to consult a professional agent for the most up-to-date information and personalized advice tailored to your needs. Regarding the current market- properties in high-end areas will always hold value. Jack from Hunters Realestate believes “there will be an influx in properties between August 2023 and March 2024 due to one-third of the Australian population coming off fixed to variable interest rates”. If there’s a time to sell- it’s now. Jack George, Hunters Realestate.
Low-interest rates and real estate locations
The property market has been driven by low-interest rates over the course of the last 2-3 years. Australia’s natural lending rate has been between 5 – 7% in the last 50 years. Aleksandar Elic believes rates will be in the vicinity of 5% for many years to come and that may affect the new home markets more than established areas, where homeowners are less mortgage vulnerable. Home estate areas that have been developed over the last five years will see a price reduction based on builders and developers having purchased land at retail rates. NSW has generally followed similar patterns in the past. Good times with low-interest rates are followed by hard times with high-interest rates. Aleksandar Elic, Romic Moore Property.