How to buy home in perth in installments?

Question

I am interested to finaly stay in perth WA after my retirement form Saudi Arabia. I am a Civil Engineer, Pakistani national working in Saudi Arabia more then 23 years able to purchase a property of a some of 200 thousand of Australian dollars. Please suggest how to manage and through whom I can manage?

Answer 1

Sorry to spoil your dream, but $200,000 will get you a tiny unit in a dodgy area in the outer suburbs, probably only 1 bedroom as well.

Generally you can't buy a house in installments unless you get a loan in which case you pay weekly, fortnightly or monthly, with interest on top.

You can get around this by buying land and building which breaks it up into 5 payments over 10 months or so. But with your budget this probably isn's possible.

When you say manage do you mean the property (as in renting out or looking after) or buying the property?

Either way check out www.realestate.com.au there are sections on buying property and finding a good loan.

Answer 2

Its unlikely that you will qualify for immigration to be a resident and you would need to have a lot more in the bank  to be allowed in as a self-funded retiree.

Answer 3

to retire to australia you must have a lot of money, it is very difficult to move there

you must have at least 500 thousand or more in some cases to invest in australia

Australian Investor Retirement visas are available for self funded applicants who are over 55 years of age, with no dependent family members (other than a partner or spouse) who would like to live, work and enjoy a comfortable lifestyle in Australia.

visa requirements:

have reached 55 years of age.

have sufficient capital for transfer to Australia.

be sponsored by an Australian State government.

be of good health and character.

be willing to take out comprehensive medical insurance with

an Australian provider.

The level of funds required will be depend upon where you wish to settle. If you are considering metropolitan areas such as, Brisbane, Perth, Sydney or Melbourne, you will need to satisfy higher criteria than those willing to settle in regional or low growth areas of Australia (except NSW)

visa conditions:

the investor retirement visa is initially granted for a period of four years and can then be extended every four years, provided the financial and other criteria continue to be met.

as the holder of a temporary visa holder, you will not be allowed access to the public healthcare system or social security benefits.

as the holder of a investor retirement visa, you will be entitled to work part-time up to 20 hours per week in any occupation except the Australian public service.

Answer 4

You'll find it hard, if not impossible to find anything reasonable in Perth at that price.

Cost of property has increased a lot in the last couple of years due to the mining boom.

Here are a couple of real estate sites.

www.reiwa.com.au

www.realestate.com.au

Answer 5

Someone above me has already suggested some real estate sites to look at, but you can maybe look into purchasing land for development or property investment. Off the top of my head, a property development company in Perth is Saville (http://www.savilleaustralia.com.au ). The market is quite expensive now, so you can probably talk to these guys or real estate people to be able to gauge what sort of property you can get with your budget.