Is this Australia's best city for first home buyers?

For Aussies who thought they would never be able to afford their own home in one of Australia’s capital cities, this may be some welcome news.

The South Australian government is offering exclusive Adelaide properties for under $350,000 to eligible buyers. If you meet the following criteria, you will be eligible to purchase from the Affordable Homes list:

1. You don’t currently own any property
2. You plan to live in the home
3. You are, or plan to become, a South Australian resident
4. Income for singles is less than $75,000, couples and families with up to three children $95,000 and more for larger families (contact the South Australian government for more details)
5. Your total assets are valued under the following limits; $348,500 for singles, $433,000 for couples and families, higher for people aged over 55 (contact the South Australian government for more details)

If this sounds like you than you can start browsing properties here and here. 

Adelaide placed number five in this year’s Economist Intelligence Unit survey of most liveable cities worldwide. Ranked on factors such as the stability, healthcare facilities, culture and environment, it’s clear that Adelaide has plenty to offer other than just affordable housing.

Pros:

20-minute city

Known affectionately by locals as the “20-minute city” it is said that the compactness of Adelaide, and lack of traffic, easily allow you to get from home to anywhere in the city in around 20 minutes. If you’re sick of spending your weekdays stuck in a peak hour traffic jam, a move to Adelaide could be the change you need.

Fresh produce

With the Adelaide Hills 30 minutes away and the Barossa Valley an hour away, there is no shortage in Adelaide of freshly sourced produce and wine. Whether you take a trip out of the CBD to pick your own fruit and indulge in a long lunch, or head to the markets in the heart of Adelaide to pick up ingredients for dinner, you will find that there is no shortage of amazing food and wine on offer.

Quiet lifestyle

The general consensus seems to be that Adelaide is a little sleepier than other, bigger Australian capital cities. This may suit a lot of people, but if you’re looking for a city where you can hit the town every night then it’s probably not for you. Retirees and young families are probably most suited to Adelaide’s relaxed vibe.

Cons:

Finding a job

While there are perks to living in a smaller city, one of the cons will always be a competitive job market and lack of job opportunities. If you are considering a move to Adelaide, housing can’t be your first concern. Take a look at the job prospects for your industry before moving to ensure you will be able to sustain your lifestyle and service a home loan.

Weather extremes

Adelaide is known for its extreme seasonal weather. The winters are cold and the summers are hot with heat waves of 40 degrees lasting for days on end in the warmer months. Compared to some of Australia’s more consistent cities like Brisbane, the weather highs and lows may take some getting used to.

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