How the holiday period can spark a real estate boom
BUYING a home in your favourite holiday destination can be a dream come true.
The Northern Rivers certainly offers a wide range of property types and locations to suit every budget of holiday-maker who falls in love with the region over the summer holidays.
From high-priced coastal properties to the more affordable hinterland towns, buyers from capital cities who choose to vacation in the region often use their time when not at the beach or relaxing by the pool to scout out the real estate.
For those escaping the busy urban centres and the sprawling suburbs, relaxing in the region can set off an epiphany about having a tree or sea-change.
Coupled with the attractive prices for properties in towns such as Lismore compared to what city-dwellers are faced with, there's no doubt summer is a great time for vendors.
Real estate agent Katrina Beohm said people on holiday were in the right frame of mind to consider a lifestyle change.
"Sometimes people think everything, including real estate, stops over Christmas and New Year and this is not the case," she said.
"I once had a call on Christmas Day from visitors who were in the area for a couple of days who wanted to view a property, I showed it to them on Boxing Day and they bought it."
Ms Beohm said an experienced agent can sort out the tyre-kickers from genuine buyers.
"This is where having a good relationship with a professional agent pays dividends," she said.
Median house prices for the region
- Ballina $560,000
- Byron Bay $1,400,000
- Casino $281,000
- Kyogle $286,250
- Lennox Head $910,000
- Lismore $345,875
- Mullumbimby $737,500
Before snapping up that holiday property
- Run the numbers: Make sure you can afford the property, and factor in stamp duty, moving costs, rates and know if you have to sell up before making an offer.
- Rose-tinted glasses: It's easy to be seduced by a holiday destination but think about living there all year around
- What you need: Are there the amenities you need such as schools, shops, sporting grounds or medical care?
- Career: Can you work remotely or do you have to find a job before you relocate?