I have started thinking about getting a property in Canberra, preferably a freestanding house. Is it too soon or too late?
Recently I realised the housing prices have gone up so much in the last few years. I’m worried it will continue to rise. If this is true, then will it be better to buy now?
Will the prices come down in the future (say after 5 yrs?)?
Recently I noticed the prices in Queanbeyan have gone up too. Am I imagining it?
My other option is to get a piece of land first and then save up for a house later. But I heard I have only 12 months to buy the house. Am I right?
My friend also recommended that I get a 1-bdr unit/apartment outside of Canberra and after 2 yrs or so, I can use it to refinance for a house in Canberra. Is this do-able when the prices have increased over the years?
I’m also looking into investment property too.
There’s still so much to research. Thought I’ll put it out here and would love to hear what you guys think.