Since 2020, there are more and more Australian expats buying property in Australia, even those that remain living abroad. They aren’t alone. Though foreign property investment has dropped since 2020, experts believe that Australia’s reputation has soared because of our strong management of the pandemic. And many investors that might previously have looked for homes in the US or the UK, are now looking to Australia instead.
Australian expats are also being lured by the strength and stability of Australia and many are looking to put down roots back in their home land as well. But buying as an expat isn’t as simple as buying when you’re here on location (and it’s not always simple then).
When you’re an Australian expat buying property in Australia you really need a team behind you. Having a team of professionals that you can trust, and that you know have your best outcome in mind is a game changer. It will ensure that you have the guidance you need, and will ease you through the purchase journey. And in a time of high competition, and low stock, it’s vitally important that you have this team in order to secure a property that suits your needs.
At Stapleton Finance we believe in a ‘holistic’ offering. We’ve assembled a team of professionals that can help you with every step of your property journey, from finding the right home, to helping you manage it until you’re ready to return home yourself.
Many Aussie expats engage a buyer’s agent to help with their property search. A buyer’s agent will work with you to establish the type of home you’re looking for, and your favoured locations. They’ll put together a list of properties that suit, and can access some that are being sold off market as well. Then they will liaise with sellers and seller’s agents, inspect the properties for you, attend auctions, undertake negotiations and even assist with formalities like building inspections and acting as a witness on your legal documents.
At the end of the day, a good buyer’s agent will save you time, money and hassle, especially when you’re looking to buy property from overseas. We work with and highly recommend Jayne Robbins, founder of The Informed Buyer, and Phillip Harrigan and the team at Harrigan Property Group. They both have a special focus on assisting expats to purchase homes and are experts in their field.
Of course, when it comes to expat property financing, we’re the experts. Expats can face significant challenges when buying property in Australia from overseas. Australian laws and lender policies can make the process tricky and stressful to manage.
Having lived the expat dream herself, Gayle has a special interest in assisting Australian expats. She knows what it’s like to live and work abroad, and she understands the expat’s unique property journey. As a finance specialist, she also knows the steps you need to take, and the options you have to get the financing you need at the best terms for you.
We specialise in connecting you with bank and non-bank lenders that work well with expats. And we work with you to help you qualify, complete paperwork, navigate each step and ensure the process is as smooth as possible.
Expats buying property in Australia from overseas will need local legal counsel to help them with aspects of your purchase. Certainly this will include conveyancing. But it may also include pre-purchase negotiations, drafting or reviewing contracts, structuring the home ownership and other general legal enquiries.
Chris O’Connor, and his team at O’Connor Ruddy & Garrett, are our experts in this area, and we refer our clients to Chris’ expertise unreservedly. Chris has years of experience dealing with all types of property legal issues. He can offer the legal protection, guidance and advice that you need on your expat property journey.
Property insurance is a vital part of purchasing a home. And often it’s a requirement of the lenders prior to even finalising the contract. In Queensland the buyer generally becomes responsible for holding insurance from 5pm on the next business day after the contract is signed. But this isn’t always the case. And understanding when you are responsible, and what you are responsible for, is vital for protecting your new asset.
Our partner for property insurance is Damien Mulvenna, of Cornerstone Property Risk Group. He not only offers expert advice on the level of insurance cover you need (to ensure you aren’t underinsured), but can arrange your policy, manage it on your behalf and review it over time to make sure you stay protected. All vital when you’re buying property from overseas.
As an expat buying property in Australia, you may not be in Australia to use your new property straight away. And while finding and managing renters can be difficult in any case, it’s made exponentially harder when you’re living overseas. In that case, you’ll need great property management with someone you can trust. On our team, that’s Anita Herfoss of Flyte Property Management Solutions.
Anita and her team can help you manage your property, from finding qualified renters, to resolving tenant issues. Having someone looking after your property interests here in Australia is vital to protecting your asset while you’re overseas.
Having an expert team with a holistic approach to property buying will create a smooth, seamless property journey. It won’t be long until you can have a place to call home, here at home.
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