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Real Estate in Geelong, Australia | Expat Exchange
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Real Estate in Geelong, Australia

By Betsy Burlingame

Last updated on Oct 03, 2024

Summary: People living in Geelong, Australia offer advice about real estate. How do you find a home in Geelong? Should you buy or rent? What is the cost of housing?

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How do I find a place to live in Geelong?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Geelong involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could be a house, apartment, or shared accommodation. Next, you should research the different neighborhoods in Geelong to find one that suits your lifestyle and needs. Some popular areas include Newtown, Belmont, and Geelong West. Consider factors such as proximity to work or school, access to public transportation, and the presence of amenities like shops and parks. Once you've identified your preferred areas, start your search for available properties. You can do this through various online real estate platforms such as realestate.com.au, domain.com.au, or rent.com.au. These websites allow you to filter your search based on location, property type, number of bedrooms, and price range. You can also engage the services of a real estate agent who can help you find properties that match your criteria. They can also assist you with the application process once you've found a property you like. When you find a property you're interested in, arrange a viewing with the landlord or real estate agent. This will give you a chance to inspect the property and ask any questions you may have. If you're happy with the property, you'll need to submit an application. This usually involves providing references, proof of income, and identification. If your application is successful, you'll then sign a lease agreement and pay a bond, which is typically equivalent to one month's rent. Finally, before moving in, it's a good idea to take photos of the property to document its condition. This can help protect you from being unfairly charged for damages that were present before you moved in," explained one person living in Geelong, Australia.

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What is a typical expat home or apartment like in Geelong?

"A typical expat home or apartment in Geelong, is often modern and spacious, reflecting the city's recent growth and development. Many of these homes are located in the city center, close to amenities such as shops, restaurants, and public transportation. They often feature open-plan living areas, fully equipped kitchens, and one or two bedrooms. Some may also have a small outdoor space or balcony, offering views of the city or nearby waterfront. The apartments are usually part of well-maintained complexes, with shared amenities like a swimming pool, gym, or barbecue area. They are often furnished, making it easy for expats to settle in. Houses, on the other hand, are typically found in the suburbs or on the outskirts of the city. These homes often have a larger living space, including multiple bedrooms and bathrooms, a backyard, and sometimes even a garage. They are usually unfurnished, allowing expats to personalize their living space. Regardless of whether it's a house or an apartment, most expat homes in Geelong are equipped with modern conveniences such as air conditioning, heating, and high-speed internet. They are often located in safe, friendly neighborhoods, making them ideal for families or individuals looking to make Geelong their new home," said one person in Geelong.

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What is the average cost of housing in Geelong?

If you are thinking about moving to Geelong, cost of living in probably a key consideration. Expats commented about the cost of housing:

"As of recent data, the average cost of a house in Geelong is approximately between 600,000 and 700,000 Australian dollars. However, prices can vary significantly depending on the specific area and the type of property," said one person in Geelong.

Should I buy or rent a home in Geelong?

If you have not spent a lot of time in Geelong, 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 Geelong, largely depends on your personal circumstances, financial situation, and long-term plans. If you're planning to stay in Geelong 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 security in the future. However, buying a home also comes with significant upfront costs, including a down payment, closing costs, and ongoing expenses like property taxes, home insurance, and maintenance costs. Therefore, if you're not financially ready for these costs, renting might be a better option for you. Renting a home in Geelong offers more flexibility, especially if you're not sure about your long-term plans. It's easier to move from one location to another if you're renting, and you won't have to worry about the costs of home maintenance and repairs, as these are typically covered by the landlord. However, renting doesn't allow you to build equity, and there's always the possibility of rent increases or having to move if the landlord decides to sell the property. In conclusion, whether you should buy or rent a home in Geelong depends on your financial readiness, long-term plans, and personal preferences. It's important to weigh the pros and cons of both options before making a decision," said one expat who made the move to Geelong.

About the Author

Betsy Burlingame 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.

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