Securing a dream family home in a great suburb
Why is it so hard to find a family home in the Northern Rivers and Tweed region? It all comes down to housing demand and supply. There is way too much competition, with rightsizers, downsizers, and upgraders all searching for the ideal home. So how can you get ahead of your competitors? You should consider talking to some well-connected real estate agents if you want to increase your search area and secure your perfect property.
Housing in high demand
It was thought that the COVID-19 pandemic would slow down the housing market, but this hasn’t been the case in most areas in the Northern Rivers and Tweed region. As people have been spending more time in their homes, many have realised the importance of having a nice place to live. This beautiful part of the country has also attracted a huge number of people escaping the larger city areas as COVID-19 has made people reassess their life goals and priorities, plus many more companies are open to remote working arrangements.
As a result, property demand is still outstripping supply, which means you need to use all the tools available to secure the type of property you’re looking for.
These house styles are in particular demand at the moment:
1. Freestanding homes in established neighbourhoods
Freestanding homes will always be popular due to the increased privacy they offer. However, established neighbourhoods have an advantage over more modern developments because older properties tend to come with a larger land component.
It is difficult to find a freestanding property in an older neighbourhood because once people buy them, they don’t tend to sell. This means these properties come on the market less frequently.
2. Renovated small homes at a good price point
If done well, a renovated small home can attract a great deal of interest — often from couples who are currently living in apartments, units or townhouses and want to upgrade their lifestyle. For this reason, a well-renovated small home advertised at a reasonable price will typically sell quickly and fetch more than its asking price.
3. Homes with granny flats or separate quarters
Granny flats or secondary dwellings, as they are known in the Northern Rivers and Tweed region, are very popular for several reasons. They provide the option of housing visiting guests or family from interstate, but they are also an opportunity for extra income via short-term or long-term rental arrangements.
There has been a considerable rise in multigenerational living in recent years. Granny flats allow different generations to have their independence whilst still technically living on the same property. And as with freestanding homes, older neighbourhoods have more space, making multigenerational living more comfortable.
4. Large family homes in premium suburbs
Families are always going to want more space as their children grow. A premium suburb is always desirable, as these neighbourhoods often fall into the catchment areas for the best schools.
As a result, large family homes in desirable suburbs don’t come on to the market often. When they do, they usually achieve extremely high prices.
5. Luxury and coastal homes
During the COVID-19 pandemic, the luxury and coastal home markets have been the most resilient. Opulent, multi-million-dollar properties with all the latest facilities will always be in demand with high-net-worth individuals. By their nature, there aren’t as many of these properties available, and they are usually snapped up quickly.
How an agent can help you secure your dream home
Agents have a wealth of contacts within the local area. They can often find properties that you might not discover yourself via the usual channels.
Find out more
Your perfect property might seem unattainable, but an agent can help you to find properties that could be exactly what you’re looking for.
As highly experienced agents, we can help you secure your dream home. If you would like more information and advice, please contact us. We’ll be happy to help.