We’ve all seen the properties going for well over a million every single day, every single week, and you’re probably wondering “is there anywhere in Australia where homes are under $100,000?”.
And the answer is, yes.
The easy answer is not near any of the capital cities. In-fact, you’ll need to trade a lot for the cheaper more affordable price, such as moving to small town far far away and perhaps some renovations may be needed, but some would argue that owning something is better than nothing. Though it is important to know that most lenders will require a 20% deposit, but $20,000 for a $100,000 home is not a significant amount of money.
Look at these examples below:
The listing sums it up best “not the best in shape, but plenty of potential”.
Located in Katanning (pop.3700) about 280km south-east of Perth or about a 3-and-a-half-hour drive.
Hay NSW is closer to Melbourne than it’s state capital of Sydney and this 3-bedroom home is “ideal for the renovator” according to it’s listing.
A hot property for investors, this property already has a long-term tenant so rental returns are “guaranteed” the listing says.
There are plenty of properties well under the $100,000 mark still available in Australia, you’ll just need to sacrifice a few things in your current lifestyle, but in some cases, it can be worth it, for anyone wanting to get their foot onto the property ladder if it benefits your long-term property strategy.