It is the dream of many Australians to live in the country. Whether as a place to settle down, raise kids, or retire, a rural life can be very appealing. A recent survey of Australians and the location of their ideal forever home had the top response of “rural location, farm, or country lifestyle”. Country living could be the next Australian dream – what makes a forever home is different for everyone.
Millennials were identified as the generation most likely to want to remain in the city. However, the country is brimming with potential, particularly for younger people seeking to enter the property market. Purchasing your first home in a location outside the capital cities can allow you to reduce living costs and pay off your home more quickly. With online industries booming, many more people can work from home – if you were not forced to live within driving distance of your work, many other lifestyles become available to you.
As you progress through life stages, you will develop different priorities – millennials may choose to stay in the city for employment and social opportunities, while retirees are perfectly comfortable embracing a rural lifestyle with some peace and quiet!
Personal preference and your financial position can influence your choice, and there is the opportunity to save a lot of money living outside of the city. Some living expenses are higher – for example, petrol if you are driving to another town for groceries and other amenities – but this can be offset by lower housing prices. You will also be away from the temptation of UberEats and other fast food options, meaning you will end up cooking for yourself and saving more money to put towards the mortgage!
There are some areas to consider before committing to your rural move. Be aware that your support network will be left behind in the city, and it will take time to build up a new social circle. If you do decide to return to the city, rural properties do take longer to sell so you need to be prepared to stay in your new town for up to a year after your list your property.
However, if you conduct your research and work hard to make connections with your new neighbours, there is no reason why country living cannot do wonders for your health and finances.