A family who was squeezed out of the Australian property market have decided to buy a home in rather than be stuck ‘paying loan for 30 years’.
Jarred, 36, and his wife Aurora, 29, thought they’d found their dream home while house-hunting in Castlemaine, regional Victoria, but were heartbroken when the property sold for karachi facebook groups $50,000 above the asking price.
Jarred said the sale was a wake-up call: if the couple were to buy a home in Australia, they would spend the next 30 years ‘bogged down’ in unmanageable debt.
Jarred, his wife Aurora and their two children (above) moved to Tuscany, Italy, after they were squeezed out of the Australian property market
‘We looked at homes, but most of the time, the only thing appealing about them was that they were within our borrowing capacity,’ he said.
‘We could have worked more and saved more, but we wanted to make life a bit easier and to spend more time with the kids.’
However, the couple and their two young children had an alternative option: to buy a home in Tuscany, where Ms Ricci was born and raised.
The family said they had previously planned to move to Italy in 2020 but were stopped by the Covid pandemic despite being ‘ready to go’.
‘We thought if buying a house isn’t on the cards, why don’t we use this opportunity and go?,’ Jarred said.
The couple were looking for jobs facebook groups homes in regional Victorian town Castlemaine but said ‘the only thing appealing about them was that they were within our borrowing capacity’ (pictured, a three-bedroom home for sale in Castlemaine for $859,000)
The couple said the decided to move to Italy after a home they liked in Castlemaine sold for $50,000 above asking price (pictured, jobs facebook groups a three-bedroom home for sale in Castlemaine for $859,000)
‘We can spend more time with Aurora’s family, the kids can see a new culture, and they will grow up bilingual.
‘Why not have a bit of an adventure while we can?’
Jarred said they were amazed by the affordable options overseas and knew moving was the right choice for jobs facebook groups them.
The average price for a small home in Castlemaine is $695,000, but homes in Arezzo are much cheaper, with large country homes on hectares of land selling for the around the same price point.
Jarred said the family is looking at ‘really decent’ homes for $300,000 in Arezzo, Tuscany (pictured, a five-bedroom home on two hectares of land on sale for AUD $549,000 in Arezzo)
Large, old country homes for sale in Arezzo are often the same price of a small home in Australia (pictured, a five-bedroom home on two hectares of land on sale for AUD $549,000 in Arezzo)
Jarred’s family has been looking at ‘really decent homes’ for about $300,000 but said they could easily find a smaller apartment or townhouse for much cheaper.
‘There’s no ridiculous price tags in Italy, the houses are significantly cheaper,’ Jarred said.
‘Property prices are what they were in Australia before the market went crazy.
‘There are homes here we could almost pay for outright with what we’d saved as a deposit in Australia.’
Jarred (pictured with one of his children) said the family has struggled with the bureaucratic process of moving overseas but is loving the lifestyle
Now the couple and their two children, aged three and one, have moved into a family friend’s old home in Arezzo, about 76km southeast of Florence.
Jarred said the family had to ‘hit the ground running’ once moving with problems arising from the ‘bureaucratic process’ of moving internationally.
‘I had to get a visa, and my wife had to get residency, then we had to sort out healthcare and taxes, jobs facebook groups and none of the agencies connect,’ he said.
‘We felt like we were kind of bumbling our way through as best we could but especially doing this move with two young kids has been a challenge.
‘It’s been a hard slog, but it’s been worth it.’
Jarred said his family hopes to stay in Italy for at least two years and buy a property they can always ‘jump back to’ (pictured, facebook real estate groups Aurora and their two children)
He added that while the family love their life in Italy, but it’s not always the daydream people imagine it to be.
‘People think living in Tuscany must be beautiful, but life is normal.There’s good times and there’s bad times,’ Jarred said.
‘There are definitely benefits, we’ve been enjoying the summer festivals and community feasts, but we’ve also had to deal with culture shock.
‘Ultimately, we want to give our kids the best environment to live in, and online rishta facebook groups we really value the perspective living overseas has given them.’
The family aims to stay in Italy for funny facebook groups at least two years before considering moving back to Down Under but hopes to always have a home to return to in Tuscany.
‘We think it’ll be easier for us to buy a property over here than in Australia and always want to have an anchor over here that we can jump back to,’ Jarred said.
<div class="art-ins mol-factbox news" data-version="2" id="mol-e48ced40-2281-11ed-9129-9fc417924f71" website family move to Italy to escape high house prices