What is the real cost of your home?

Blog Post
August 29, 2018
March 5, 2024

It’s no secret that the cost of living in metro areas is at least double the cost of living in regional Australia - sometimes more. But it’s not until after people make their country change that they realise city life was costing them far more than just money.

Do you need to work long hours to barely afford your modest home? Is work taking away the time you’d love to spend with your family? Are the long, daily commutes slowly wearing you down? Are you constantly stressed about money? Do you feel lonely or disconnected? Do you feel trapped?

The reality is - it doesn’t have to be this way. You work hard and you deserve to enjoy what you’ve worked for. You can have a spacious family home with a stress-free mortgage AND have the time and energy to enjoy it as well.

The quality time and the sense of community that are lost through the struggle to afford city living are not only detrimental to your health and wellbeing, but are also totally avoidable. Deep down, we all know this… and for some of us, the payoffs for city living are definitely worth it. On the other hand, there are many of us who know we’d be happier and healthier if we made the move… but have you ever actually crunched the numbers?

According to the Australian Bureau of Statistics, the mean residential costs for Australians in 2018 is $687,700. That’s the figure for the middle point of all the housing prices across the entire country. This is sounds about right, doesn’t it? Outer metro suburbs like Kingswood, NSW and Dandenong, VIC are an accurate reflection of this national average. Now, let’s look at the median house prices for a couple of beautiful Riverina towns…

The 2018 median house price in Leeton is $192,500, while in Tumbarumba it’s  just $173,750. Quite a long way below the national average, isn’t it? Can you imagine if your current mortgage was reduced by that much? Now let’s take a look at some of the figures pushing that national average so high…

The median price for a house in the Sydney metro area is a whopping $900,000, and $710,000 just for a unit. If we get a little more specific, we’ll find that Hornsby in Sydney’s upper north shore has a median house price of $1,103,275, while the inner Melbourne suburb of Kew has a median price of $2.2 million!

For $350,000, you might be able to get a modest 2-bedroom 1-bathroom apartment with no backyard in suburban Sydney or Melbourne. If you need a family home, you’ll be looking at around $700,000 for an older 3x1, and closer to $1million for a 4x2 for a suburban new build. Let’s not forget that two hours of daily commuting is added to this price if you work in the CBD. If you do work in the city and want to do without the commute, well… you may as well just live at your workplace because family-sized inner-city apartments are upwards of $2 million!

By contrast, the Riverina property market is full of gorgeous 3x2 new builds with big backyards for less than $300,000.  For around $200,000 you can get a renovated historical home, full of character and charm with 3 or more bedrooms. Inside, you’ll find a deliciously spacious kitchen, luxurious ensuite bathrooms, and generous bedrooms with built-in wardrobes. You’ll enjoy ample parking, and your fully landscaped block wouldn’t be more than 10 minutes from the heart of town. To top it all off, your family would enjoy amazing views of the countryside - because unlike city living, convenience and affordability in the Riverina doesn’t require residents to forgo picturesque surroundings.

When you buy a home in the Riverina, you’re actually getting a lot more for your money than just a nice house to live in. What you’re really investing in, is a lifestyle. You’re buying a place for your family in a thriving and supportive community; you’re buying the opportunity to start that business you’ve been thinking about for years; you’re paying to trade in your long commute in peak hour traffic for an energising 20-minute walk or ride into work; you’re affording a life with less stress and more free time. Affordable and spacious homes, with stress-free mortgages are just another part of the whole Riverina way of life.

If you’ve ever considered a country change, there has never been a better time than now. With new, emerging technologies on the rise and heaps of investment from the NSW State Government, the Riverina’s economy is booming.

The Riverina is buzzing with entrepreneurship, culture and community - so, what are you waiting for? Now is the time to take advantage of the Riverina’s highly affordable and spacious family homes and significantly lower cost of living; now is your time to get ahead, enjoy quality time with your loved ones, and finally liberate yourself from the unnecessary stress of a monstrous mortgage. Let us help you plan your visit today!

If you are serious about making a Country Change, be sure to come along to this year’s Country Change Expo October 20 at the Cootamudra Show, 10am-2pm.

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Would you like more information about making a Country Change?Just contact us and we will get in touch.

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