Unless you’re bringing in $1m+ a year, it’s likely you’ve already thrown out the dream of buying a decent property within the inner rings of Melbourne or Sydney, where property prices sell for well over 7 figures.

After that’s considered, you’ve got two main options – head out into the outer ring suburbs and travel long distances into the CBD, or pack up shop and move your family to a quieter life in regional Australia.

However, it goes without saying that there are major differences between the two. Here are some of the key points you should consider:

Transport Links

Even if you’re committed to a 9-5 office job in the CBD, that doesn’t mean you have to completely rule out regional Australia. In fact, as many regional dwellers will state, getting into the CBD is often much easier for them than it is for those in outer-ring suburbs.

For example, in Melbourne, travelling from Lilydale to Collins Street by car could well take an hour – the same amount of time it’ll take you to get a train in from Ballarat. So, instead of investing several hours of your time a week into traffic and road rage, you could be nestling down on a train, tucking into a podcast or book, saving the money that would otherwise be going straight into your fuel tank.

Lifestyle Differences

Within the outer suburbs of Melbourne and Sydney, affordability can still be a huge issue for many families. House prices are pushing up to and beyond the $1m mark for blue-collar areas, meaning getting a manageable mortgage miles from the city isn’t always easy, either. More and more often, the Australian dream of having a quarter-acre block is becoming outdated.

However, regional towns carry much more reasonable price tags, making them a great option for part-timers and stay-at-home parents. This, in turn, cuts down your childcare costs, too, money which can then be put towards having fun on weekends.

The tight-knit community you’ll likely be a part of can be a huge benefit for kids as well, with smaller schools and sports clubs meaning they get more attention than they would from larger city schools.

Capital Growth

Although most buyers might think you have to buy within the city limits to experience real capital growth, there can be money to be made in regional areas, too.

5 years ago, this wasn’t the case. Melbourne and Sydney’s markets were on fire, with instant growth a real possibility, compared to the slow-moving regional locations. However, as prices slow within the capitals, regional towns seem to be picking up the slack. In fact, towns such as Gympie, Geelong and Newcastle have seen some truly impressive growth over the last few years.

If you’re looking for a way to leave the hustle and bustle, or simply a more affordable life with some extra cash to splash in other areas, regional life could be the right choice. However, as with everything, make sure you do your research to ensure you settle on the best option for you.

The information and links provided on this website are for general information only and should not be taken as constituting professional advice. This information does not take into account the financial situation or particular needs of individual readers. Before making any decisions about matters discussed on this website, you should consider whether it is suitable for you in light of your own circumstances, and seek appropriate advice.