Buying a Home in Victoria

The state of Victoria in the southeast of Australia is the smallest state and the second most popular in the country. This most urbanized state has a population of more than 5.3 million as of 2011 but the Australian Bureau of Statistics predicts the number will increase to 7.2 million by 2050.

Majority or almost 90 percent of Victorians live in cities and towns and 75 percent live in Melbourne.

Types of Homes

Housing styles and house prices in Victoria vary from one region to another. Typically, houses are the free-standing or the attached type.

However, many period homes that date back from the 1920s still exist in the state even in Melbourne. They include the Victoria and Edwardian homes, many of which have been restored to their original beauty.

Apart from houses, units and apartments sometimes referred to as flats are also in place. They can be the modern types or those that are already 150 years old. These structures are made of either brick, concrete or weatherboard and can have from two to four bedrooms, one or two bathrooms, a kitchen, living space and laundry area. The larger homes may feature a second living space or dining area and a garage.

Whether you want to buy a house or rent an apartment, you can get information directly from the owner or from real estate agents. You can also find them through lists published in major metropolitan, local and regional newspapers.

Buying a Property

When purchasing a residential property, various options are available. You can buy an established property, an apartment or unit, a home in a retirement village or a vacant land and build your own style of house from scratch.

An established property in Victoria can be an older house which can be renovated and extended. If you plan to buy and renovate it, make sure to consult an architect or builder to determine the kind of work appropriate for the property. It is also a must to conduct a building inspection to identify areas that need repair and determine the cost.

If you're considering buying or renting an apartment or unit, certain factors need to be checked first. Things to consider are the accessibility of the place, availability of a parking space, while it's near garbage collection areas, proximate to public transport and the rules particularly with regards to pets. If you want to buy from an apartment building (strata-titled property), you can become a member of the owners corporation.

Whatever type of property you plan to buy, a buyers advocate can help you find the right one the fits your criteria. With their knowledge and skills in doing research and negotiating, you can rest assured that they will look for the ideal home for you at the right price.