We keep hearing about how it is becoming almost impossible for young people to enter the real estate market because of skyrocketing property prices. It must be tough I must admit. If I was a first home buyer I’m not sure how I would go about it either.

But then you can read about how young enterprising people are thinking outside the square in order to be able to enter the market. Buying with siblings or other family members is one method young people are exploring. Moving from the city to regional centres is another.

Regional centres offer strong infrastructure, good job prospects and are often within commuting distance to Melbourne.

Geelong property prices for example are still much lower than Melbourne’s. You can still buy a quality 3 or 4 bedroom family home in suburbs like Grovedale for under $350,000. Grovedale is only 5-10 minutes from the Geelong CBD, and it located at the the start of the Surf Coast Highway giving great access to Surf Coast towns such as Torquay and Anglesea. Add this to the future addition of Armstrong Creek and Grovedale has great potential for excellent capital growth.

If your budget is under $300,000 then just 15 minutes along the Princes Hwy from Geelong lies great opportunity in Winchelsea. A short drive from Geelong and just over an hour to Melbourne, Winchelsea offers the opportunity to buy a solid 3 bedroom home for under $250,000.  If you were not ready to commute just yet, then it might provide an opportunity to invest into the market with rental properties in high demand in Winchelsea and excellent capital growth expected.

While the dream of owning that cute little terrace home in Richmond might be over for many people, there are plenty of opportunities to enter the real estate market out there. It just requires a little shift in thinking.

Source: http://www.realestate3228.com

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