Our real estate agents sat down with a client who purchased a house in Mount Barker four years ago. They had bought in a competitive market and, at the time, were worried they’d overpaid in the heat of the moment.
We advised them to focus long-term, because it’s not often that a buyer walks away feeling like they scored a deal. In the last financial year alone, Mount Barker has experienced a capital growth north of 10%. This is incredible growth compared to the annual growth rate of 6.8% nationally (over the past 25 years).
Adopt a long-term mindset when it comes to buying a property
Focus on property ownership for the long-term – five, seven or 10 years and onwards. Step it back and view it for what it is, an investment. Short-term thinking is limiting, especially in a market like we’re experiencing now.
The Adelaide Hills has always been a strong performer from a capital gain standpoint. It’s a region that weathers the storm of markets well. To take a long-term stance, direct your attention towards the factors that drive a market.
- Sought after locations
- Proximity to schools and transport
- Access to amenities
- Current and future community-boosting developments.
It’s also important to be realistic about your budget and what it can get you in terms of currents houses for sale in the Adelaide Hills.
Be conscious of when your emotions are filtering your perceptions. You might have your heart set on a specific suburb but remember, it’s called a property ladder for a reason. It’s okay to start somewhere, even if it’s not exactly where you envisioned, and work your way upwards.
This may mean considering houses for sale in Adelaide Hills suburbs adjacent to where you want to be. Look a little further out. Once you’re in the property, be proactive about making extra mortgage repayments so you build up decent equity to draw on if and when you need. Having a plan to work towards that dream suburb makes the first chapter in your property story all the more enjoyable.
Also, don’t just focus on the financial aspect. Keep track of the day-to-day maintenance, chip away at updates and ensure the little problems don’t become costly repairs. This helps you stay in an empowered position, with a house that’s ready to sell when you make the decision to.
Real estate in the Adelaide Hills will always peak and dip. This is the nature of the game. Carry a long-term mindset and you’ll be able to capitalise on the market, no matter what it looks like.
Are you looking for homes for sale in the Adelaide Hills? Have our team of Nitschke real estate agents on your side. Get in touch with our friendly team on 8391 5004.