Sydney is the place that is situated on the borders at the Pacific Ocean east, Blue Mountains west, Woronora South, and Hawkesbury River on the north. The city is one of the most populated cities in Australia.
There are more than 5 million people who are living in Sydney and about 1.8 million private dwellings. The housing turnover in Sydney has begun to rise, which leads to an excellent time to get real estate.
If you are wondering whether to buy a house in Sydney this year and want to create a beautiful place to live for yourself, it is necessary to check why a house should be bought in Sydney.
This article will give you an insight into the top seven reasons to buy a house in Sydney in 2021. Buying a house in Sydney provides you with an affordable option to easily enter the property market and get your dream home at the best price.
Reasons to buy a house in Sydney in 2021
– Sydney: the most liveable city
In the Economist Intelligence Unit’s global liveability index, Sydney was ranked third by an article in The Guardian. And, with this, several Sydney development projects were started, which included creating residential as well as commercial buildings for the people living there. Thus, giving new and big economic opportunities to the residents of Sydney. There is a significant influence of Sydney in Australia and around the world, making it one of the best cities to live and get your home.
– Hub for Multinational Corporations
Sydney is considered a hub for multinational corporations and also foreign banks. The city is considered in Asia Pacific’s leading economies. You can never be wrong about buying a house in Sydney because you live in one of the best cities in the world.
– Tax Benefit
One of the best reasons for buying a house in Sydney is the benefits of tax one can get. You will have a sort of guarantee that there will be no loss of money when you invest it in buying a home.
If your expenses and interest payments exceed the return, then you are eligible for the tax break. The tax benefits are considered on the property income, its expenses, and depreciation.
– Astonishing Views
There is no secret that Sydney has the best views in the country, and there are great suburbs in the city with beautiful views. Get your home near Observatory Hill Park and enjoy a great view of Sydney Harbour. You can even check the rooftop of the Museum of Contemporary Art and see a fantastic view of the opera house in Sydney.
– Earning Extra Income
Sydney is one of the greatest cities around the world, and it attracts millions of people, and they love to settle in the town for all their life. According to the reports, more than 11.1 million tourists and about 4.1 million international tourists have visited Sydney in the past years.
So, having a home in Sydney gives you various advantages, such as renting your house to the tourists who need a place in Sydney to live and earn an extra income because of tourism, which is a great way to get passive income.
– Clear Costs
The houses in Sydney have a clear cost, which means it is suitable for the buyers to get a house with pre-approved finances. When there is a clear cost of the house, the interior designers and architects are also fully engaged with the designing of the house and give a high-quality product to their customers.
– The benefit to the Investor
When you are buying a new home, then you surely have a warranty if there is a problem. It is also easy to lease and have new maintenance outlays in the city. You can even get the maximum allowance on the depreciation on the return of tax on your property. Depreciation is good with new properties as they can depreciate faster than the old existing properties.
From these seven reasons discussed above, you can now be sure of getting a home in Sydney and having a great investment in such a fantastic city. If you plan to move to a new house, buying a home in Sydney can be considered.