When it comes to investing in real estate, impulsive decisions may prove to be detrimental, but that’s not the case with a property in Melbourne. Unlike the rest of the cosmopolitan properties across the globe, the supply and demand algorithm in Melbourne works contrariwise, meaning the number of properties available are far too less than the number of property enthusiasts.
In terms of numbers, there are approximately 140,000 properties up for grabs each fiscal year, with over 170,000 investors looking to get a piece of the pie. Surprisingly, the cost of properties in this city is relatively lower than those found in Canberra, Perth and Sydney, which is the sole reason for the increase in population by 18% (4.16 million) and this is expected to soar to 5 million by 2025. As a result of this surge in inhabitants, rental rates are expected to increase, making the apartment marketplace a guaranteed stream of passive income.
Melbourne is an eccentric mix of culture, fashion, entertainment, sports, history, and heritage and is the only city in the world to house five international sporting facilities in the heart of its Central Business District. The infamous Tramway system is the fourth largest in the world and stretches across 152 miles of track with the help of 450 trams. According to a recent study, real estate prices in Melbourne were at a staggering 148%, resulting in a sound economy and migration.
Now that you’ve found the perfect house in this stylish, sophisticated city, there are a few bases to cover to ensure you are subject to an enviable bargain. Conveyancing in Melbourne makes the transfer of property from the owner a seamless process. You can always choose to attempt the process yourself but going this route may take you several months or more to claim ownership. A conveyancer in Melbourne may or may not be an attorney, but is an accredited practitioner certified by the Victoria Conveyancing Association who is able to advise you of your best interests.
When you commission a conveyancer in Victoria, you can be rest assured that all the loose ends are taken care of. Buyers and sellers appoint their own conveyancer in Melbourne who usually charges a fixed fee or a small percentage depending on the value of the property. The services offered by the firms conveyancing in Melbourne and Victoria are but are not limited to forming the contract, disbursements, inspections, property assessments and finally transferring of the property.
A conveyancer in Victoria offers more than just a standard service but is also proficient in Professional Indemnity Insurance and dedicated to providing solicitor back up for legal matters, if needed. Conveyancers in Melbourne recommend that you send them a copy of section 32 before committing to a contract. This will allow your conveyancer in Victoria to affirm that all the special conditions are in place and at the same time ensure all the amenities and appliances are in working order.
If you’re planning on buying a new home or selling a property, the rules and regulations of ownership can be confusing. And rather than dealing with the intricacies of transfer yourself, let a conveyancer in Melbourne navigate the entire process on your behalf.