Now that you know your budget, it's time to determine how much 'home'
it's likely to buy you - and the suburbs you can afford to live
in. The real estate section in newspapers, local papers and real
estate agents themselves are all useful sources of pricing information,
but when it comes to getting comprehensive comparative sales information,
it's hard to go past Australian Property Monitors (APM), a joint
venture between the publishers of Your Mortgage and John Fairfax & Sons.
APM publishes Sydney, Victorian, Canberra and Perth Home Price Guides. Expanding
the service even further, the Home Prices Guide will soon be expanded to cover
all of Queensland from the distant outback of Mount Isa through to the high-rise
apartments of the Gold Coast.
APM systematically tracks residential property activity from a variety of sources
including government and semi-government agencies, real estate advertising, real
estate agents and the company's own researchers. This vast base ensures APM's
databases contain the latest and most detailed property information available.
Each Home Price Guide lists recorded residential sales in the previous 12 months
and details the full address of the property, the type of property, descriptive
features of the home and exact sales date and sales price paid by the buyer.
Australian Property Monitors can be contacted directly on (02) 8268 8268. Your
first Home Price Guide costs $43.92 with discounts for multiple postcodes.
If the home of your dreams in your desired suburb is too pricey, it's time to
either lower your expectations or save some more money. However, remember that
while you are saving more money, prices can often increase at a similar (or faster)
pace.
It's important to remain flexible with your housing demands because it's simply
impossible for everyone to purchase their dream home immediately. Sometimes it
is better to settle for something that isn't perfect, pay it off quickly and
then step up to a better home down the track.
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