Tips For Buying in Hobart
Hobart is, arguably, Australia’s destination of choice for foodies and oenophiles, adventurists and solace seekers alike. But for many, it’s also a city of opportunity – the heart of a blossoming region now firmly in their sites as a destination of a more permanent nature. ‘Climate migrants’, entrepreneurs, escapists and lifestyle seeking folks in their droves, are increasingly looking to secure their little slice of our much revered Apple Isle.
However, buyer beware – tackling this real estate market sans local ‘know how’, is not for the faint hearted. Would be new residents must be both willing and able to make the pursuit of A grade Hobart property an absolute priority. Supply is limited and competition is fierce. Open homes for premium properties (for sale and lease), are crawling with would be takers all vying for a piece of the finite available real estate. Quality commercial assets are tightly held and often sold behind closed doors, never making it to the likes of real commercial.
But fear not. Although this is a market where insight and proactiveness are paramount, do not let that deter you – the rewards surpass every ounce of effort. No city in Australia offers such ease and richness of lifestyle, affordability, community, charm, and a literal treasure trove of world class destinations and inspired offerings upon your door step.
This is an old ‘new world’ city – where history and innovation spectacularly collide.
HBA’s handful of top tips…
- Start looking before you’re ready. Not only will you familiarise yourself with local property values, you’ll get a feel for the differing styles of architecture and amenity unique to differing suburbs.
- Register your interest. Some agents are your friends and will keep you in mind if you are clear and at the ready to proceed when a specific and defined opportunity arises.
- Consider renovation/restoration. Try and look past minor shortcomings – particularly if you are budget conscious, securing a property with good ‘bones’ in the right location, allows opportunity to add your mark and avoid paying a premium.
- Get your affairs in order. Having pre-approved finance at the ready puts you in a strong position for negotiations when the perfect opportunity arises.
- And finally, dare we say it, especially if you’re relocating from interstate, seriously consider engaging the services of a reputable buyers agent. The majority of their fee is success based, and having a trusted, local ally on the ground is absolutely invaluable.