Real Estate in Gold Coast, Australia
Last updated on Jun 02, 2024
Summary: People living in Gold Coast, Australia offer advice about real estate. How do you find a home in Gold Coast? Should you buy or rent? What is the cost of housing?
How do I find a place to live in Gold Coast?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Gold Coast involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a studio apartment to a multi-bedroom house. Next, you should research different neighborhoods in Gold Coast to find one that suits your lifestyle and preferences. Some popular areas include Surfers Paradise, Broadbeach, and Southport. Consider factors such as proximity to work or school, access to public transportation, safety, and nearby amenities such as shops, restaurants, and parks. Once you've identified your preferred neighborhoods, you can start searching for available properties. There are several online real estate platforms that you can use, such as realestate.com.au, Domain, and Rent.com.au. These websites allow you to filter properties based on location, price, property type, number of bedrooms, and other features. You can also engage the services of a real estate agent to help you in your search. They can provide you with expert advice and access to properties that may not be listed online. Once you've found a property you're interested in, you'll need to arrange a viewing. This is an important step as it allows you to assess the condition of the property and see if it meets your needs. If you decide to proceed with a property, you'll need to submit an application. This typically involves providing proof of income, references, and a rental history. If your application is approved, you'll then sign a lease agreement and pay a bond, which is usually equivalent to one month's rent. Finally, before moving in, it's a good idea to conduct a thorough inspection of the property and document any existing damage to ensure you're not held responsible for it when you move out. Remember, finding a place to live can take time, so it's important to start your search well in advance of when you plan to move," remarked one foreigner who made the move to Gold Coast.
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What is a typical expat home or apartment like in Gold Coast?
"A typical expat home or apartment in Gold Coast, is often located in a high-rise building with a stunning view of the ocean. These homes are usually modern and spacious, with open-plan living areas, fully equipped kitchens, and large balconies for outdoor dining and relaxation. They often have two or three bedrooms, with the master bedroom featuring an ensuite bathroom. The apartments are usually furnished with contemporary furniture and appliances, including a dishwasher, washing machine, and dryer. They often have air conditioning and heating systems to cope with the varying weather conditions. Many expat homes in Gold Coast are located in secure complexes with amenities such as swimming pools, gyms, and barbecue areas. Some even have access to private beaches or marinas. The location of these homes is often a key selling point, with many situated close to shopping centres, restaurants, and public transport. They are also usually within easy reach of the city's many attractions, including theme parks, golf courses, and nature reserves. Despite being in the heart of the city, these homes often offer a sense of tranquillity and privacy, with many located in quiet, leafy streets or waterfront locations. They offer a relaxed, laid-back lifestyle that is typical of the Gold Coast, making them a popular choice for expats," said one expat in Gold Coast.
What is the average cost of housing in Gold Coast?
If you are thinking about moving to Gold Coast, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Gold Coast can vary greatly depending on the specific area and type of housing. As of recent data, the median price for a house in the Gold Coast region is around the mid to high six-figure range in Australian dollars. For apartments or units, the median price is slightly lower, typically falling in the mid to low six-figure range. However, these prices can fluctuate based on market conditions and other factors. It's always recommended to conduct thorough research or consult with a real estate professional when considering housing prices in any area," explained one expat living in Gold Coast, Australia.
Should I buy or rent a home in Gold Coast?
If you have not spent a lot of time in Gold Coast, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"The decision to buy or rent a home in Gold Coast, largely depends on your personal circumstances, financial situation, and long-term plans. If you're planning to stay in Gold Coast for a long time, buying a home could be a good investment. Owning a home allows you to build equity over time and could provide financial stability in the future. However, buying a home also comes with significant upfront costs, such as the down payment, closing costs, and maintenance expenses. It also requires a long-term financial commitment. If you're not ready for this kind of commitment, or if you're unsure about your long-term plans, renting might be a better option. Renting a home in Gold Coast offers more flexibility. It's a good option if you're not planning to stay in the area for a long time, or if you prefer not to deal with the costs and responsibilities of homeownership. Renting can also be more affordable in the short term, as it doesn't require a large upfront investment. However, renting doesn't allow you to build equity, and you won't see a return on the money you spend on rent. Additionally, you may have to deal with rent increases over time, and you'll have less control over your living situation, as you'll be subject to the rules and decisions of your landlord. In conclusion, whether you should buy or rent a home in Gold Coast depends on your financial situation, your long-term plans, and your personal preferences. It's important to carefully consider these factors and perhaps seek advice from a financial advisor before making a decision," explained one person living in Gold Coast, Australia.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.