With a 4 bedroom house being sold for a median price of $465,000, houses in Ballarat can expect to spend about 72 days on the market. This gives prospective buyers plenty of time to carefuly review all the houses on the market to make an informed decision.
Ballarat, 3350 is has done fairly well for itself over the last few years, with last year in particular seeing an increase of a little over 5% on the median house price in the area.
With even just 15% down on an the average cost of the unit, you're looking to pay about $532 a week on a 25 year loan. This works out to be a bit less than double the average rental price, which is pretty good since you get to own your own home.
So to make sure you get to keep enjoying the dream of owning your own home, make sure you take all the necessary precautions to beware hidden expenses that can occur. By getting a pest and termite inspection from a licensed builder, theyâre much more likely to see a hidden expense pre-purchase than you are.
According to the Australian Bureau of Statisticsnearly all of Victoria has seen an increase in mortgage costs of about 43% from 2006 to 2011, so its safe to say that it will probably continue to rise.
So, whatever category you fit into be sure to engage a licensed building and property inspector prior to purchasing your home, unit or apartment to check for asbestos, pests, termites and structural defects that could further impact mortgage repayment pressures in future years. Thereâs nothing worse than paying off a home that you're disenchanted with because of its faults!
When choosing a Building and Pest Inspector be sure to ask them the following questions:
If you are not satisfied with the Building Inspectors answers to each of these questions then contact another building and pest Inspector in Ballarat.
Our licensed building inspectors will positively answer all of the above questions, so feel free to book in an inspection)
Phone: 1300 657 546
Booking: CLICK HERE