Thinking of relocating to Mudgee? Here’s our top four tips for tree-changers
There’s never been a better time to consider a “tree change” to the beautiful Mudgee region.
With interest rates at a decade-high and ever-increasing cost-of-living pressures, many citysiders are upping stumps to regional or rural areas for a quieter (and more cost effective!) way of life.
If you’re thinking about relocating to the Mudgee area, we recommend considering the below before you lock in your move:
- Renting or buying?
The Mudgee real estate market has undergone significant change in the past 12 months. In contrast to the high rental demand being experienced in many major cities, Mudgee is amid a rental market slow-down, with a large number of properties available, particularly contemporary, four-bedroom homes. Additionally, rising interest rates have created a buyer’s market, with houses selling for much less than this time last year. It’s definitely a good time to relocate to the region – but do you rent or buy a home? It’s a difficult choice to make, particularly given the market’s ability to quickly shift. At the end of the day, it comes down to your financial and personal position – have you sold a home in the city and are you keen to re-invest? Or would you prefer some time to get acclimated to the region, and decide exactly where (and how!) you want to live? Talking to a local market expert, like our team at Signature Properties Mudgee, can help you get a handle on the market and the decision to rent or buy.
2. Location, location, location
While Mudgee isn’t a huge multi-suburb city like Sydney or Wollongong, it does have several different housing areas, each with their own offerings. It’s important to think about what amenities and aspects are important to you in your relocation, before deciding on a home. Do you want to be close to schools and daycare centres? Is being within walking distance of the CBD a non-negotiable? Do you want a newer house with a pool, or an older home with plenty of land? All of these factors are critical to consider before you sign a lease or sales contract. Drive around the region before you finalise your housing arrangement to get a feel for the different areas and exactly where you’d like to be.
3. Try before you buy
Not ready to make the big jump into Mudgee and sell up? Consider leasing out your current property and renting in the region. With the rental market squeeze in many major cities, leasing out your home is a great way to keep your current property, while still relocating to Mudgee. If you still want to be close to the city for work/lifestyle, why not consider buying an investment property in the Mudgee region? As Australia’s top tourist town two years’ running, Mudgee is a highly rated place to visit, regularly attracting tourists, wedding parties and major events. Look for an investment property close to the CBD, with all the mod-cons for holiday goers.
4. Do your research
Before you make the move to the Mudgee region, do your research. Look into everything from the weather to local healthcare providers. What are the schools like? What are the nearest hospitals, major universities and shopping centres? How far is Mudgee from family and friends? What is on offer for kids and teenagers? Look at local crime statistics and employment opportunities. Talk to a local real estate agent (we’d be happy to help!) about sales in the area, sought-after properties, and the overall “vibe” of the town. They will be able to provide genuine, transparent advice about the local market and the pros (and cons!) about Mudgee living.
If you’re thinking of moving to Mudgee, we’d love to find a property for you! Contact Edwina Smith on 0429 328 086 or email us for more information.
