Tuesday 18th September 2018

4 signs it’s time to move neighbourhoods

4 signs it’s time to move neighbourhoods

Moving can be a stressful experience, which is why many Australians avoid doing it as much as possible. However, certain factors can arise that make it a good time to move on to another neighbourhood, including rising housing prices, bad neighbours, expanding your family, or avoiding a long commute.

While making the decision to pack up and move is never easy, consider these four signs that it’s time to move neighbourhoods.

Rising prices
Certain parts of Australia have very high costs of living. For example, in Sydney – one of the most expensive cities to live in globally – a one-bedroom apartment outside of the city centre will likely cost you at least $1,624.22 a month, according to Finder. The same apartment in Melbourne would be somewhere around $1,200.

While these numbers aren’t the highest in the world, they are likely to keep rising. And larger, single-family homes in these areas would likely cost a lot more. If you see your neighbourhood growing, this probably means that housing prices will start to rise. You may want to consider moving to a neighbourhood that will remain steady, so your rent doesn’t skyrocket from one year to the next.

Long commute
Perhaps you’ve got a new job that you love, but it’s much farther away from home, causing you to have hours-long commute. Consider whether or not you will be staying at this job long term, and whether it would add a lot more time to your day to live closer to work.

If you have a family or live with a partner or spouse, consider moving somewhere that is central to both of your jobs or to your children’s school. You don’t want to sacrifice two or more hours per day just commuting. There are likely better options out there.

Bad neighbours
Unfortunately, there are going to be bad neighbours in almost any neighbourhood you choose. But you know it is time to move when these neighbours start causing you stress or making you frustrated.

About a fifth of Australians admit that a recent move was at least in part due to bad neighbours, according to research from ING Direct. Feelings of resentment can easily build up over time, caused by loud music late at night, stomping around in the floor above you, or even more serious offences like theft or verbal abuse.

Expanding your family
It may be time for you to give up your one or two-bedroom apartment downtown and move to a larger space a bit farther from the city centre. Your family may prefer a large outdoor space, an extra bedroom, or peace and quiet over a quick walk downtown.

Consider the needs of your whole family when deciding whether you should move neighbourhoods.

If you are considering a move and would like to know your home loan options, contact our team today.