Save big by buying next door to your dream

GOT your heart set on buying in one of South Australia’s most popular suburbs but can’t quite afford it? Don’t despair.

Hidden Gem suburbs. Story about affordable suburbs that are located close to expensive areas. Magill is much cheaper than Kensington Gardens.[PIC] Wayne & Danae Diment at their Magill property with their children Max (5yrs) and Archer (3yrs). pic by Bianca De Marchi

GOT your heart set on buying in one of South Australia’s most popular suburbs but can’t quite afford it?

Don’t despair.

We’ve found the hidden gem suburbs near some of South Australia’s most sought-after locations that offer similar properties and a comparable lifestyle for a lower price.

Some of our prestige locations command a hefty price tag due to their large block sizes, house quality, proximity to the city, sea, major infrastructure or lifestyle.

For many, living in these suburbs is an unattainable dream. So why not live next door, where it’s cheaper?

Kensington Gardens has a median house price of $790,00, yet just up the road Magill offers similar houses and sports a median price of just $535,000.

City-fringe suburb Rose Park has a median sale price of $1.153 million yet, just a street over, Dulwich offers a more affordable alternative and a median price of $831,000.

Those looking for the West Lakes lifestyle but can’t afford the $615,000 median price tag can get a similar home at West Lakes Shore, where the median is $90,000 less.

Clarence Park has a median price of $600,000 yet just over Cross Rd, Clarence Gardens homes have a median price of just $492,500.

And in the north, with a median price of $284,500, Parafield Gardens offers an affordable alternative to Mawson Lakes’ $442,500 median, despite being just 6km down the road.

Real Estate Institute of South Australia president Greg Moulton said most buyers have an ideal location in mind.

“People are very decisive about what they want, and from there, whatever their budget is, they will go and find the best value,” Mr Moulton said.

“There are some great suburbs that offer an affordable alternative to some of our most sought-after suburbs.”

Mr Moulton said, with housing demand outweighing supply, people were increasingly prepared to compromise and live in a suburb a little further away from their dream suburb.

“Looking at Burnside or Kensington Gardens and then comparing them to Magill - the distance is tiny but the price difference is massive,” Mr Moulton said.

Wayne and Danae Diment are selling their 7 Murray Ave, Magill home through Harris Real Estate after renovating it and said they chose to invest in Magill because of its high demand and proximity to popular eastern suburbs hot spots.

“The city is only 15 minutes away and it’s close to Burnside Village, the Hills and lots of really good schools, so it ticks all the boxes and you have access to all of it without the price tag,” Mr Diment said.