In the heart of Redlands Coast, an unprecedented struggle is gripping the local real estate market, leaving prospective homebuyers facing a daunting array of barriers and challenges.
As housing demand continues to surge, prospective buyers are contending with soaring property prices, limited inventory and fierce competition.
The dream of homeownership, once a tangible goal for many, now seems increasingly elusive. In this special report, we delve into the factors behind these market dynamics, shedding light on the experiences of those seeking to make Redlands their home.
Homebuyers in our community are navigating uncharted waters where the name of the game is speed, and the stakes are higher than ever.
Prices are soaring, inventory is tight, and the pressure to act swiftly is intense, often prompting buyers to make decisions fuelled by emotion and the fear of missing out.
In this environment, it’s vital that prospective homeowners take a moment to catch their breath and remember the importance of careful consideration.
Before making one of the most significant investments of your life, experts advise conducting compliance checks, arranging for building and pest inspections, and having a clear understanding of your current financial standing.
The dream of homeownership is undoubtedly an exciting one, but it’s a dream best pursued with eyes wide open.
Resident Kelly Ledger has been looking for a home for just on 12 months and is still looking.
“I would have preferred to buy pre COVID but hindsight is a beautiful thing,” she said.
“The market is moving quickly, [so] not having preapproval made us miss out on a few places.
“[The] best advice is using a buyer’s agent as they are great at finding what you are looking for.”
When asked whether she had any further tips for buyers, Kelly said: “Look at buying acreage if you can afford it.
“Think outside the box such as multi-generational living. Buying an apartment in a small complex as an investment. Low body corp and possibility of being snapped up by a developer.”
When it comes to purchasing for investment, thinking outside the box can be the key to unlocking unique opportunities.
The traditional paths to investment, while tried and true, are not the only avenues to success.
Exploring unconventional strategies, considering emerging markets, or diversifying your portfolio with alternative assets can set you apart from the crowd.