The telltale signs it's time to upsize in Canberra

They call it the property ladder because many buyers look to keep moving up rung by rung to increase their wealth and standard of living.

But how do you know when it’s time to take that next step?

Greg Hedger of Belle Property Kingston says many factors feed into an upgrade decision.

“It can be family growth, increased income, a desire to reduce a daily commute, perhaps a need for more space and a more relaxed lifestyle,” he says.

“But that’s not all – another big driver can be the need to relocate into the catchment area of a preferred school.”

Hedger says the availability of money can also provide a springboard for some buyers to move into an aspirational address.

“Canberra has a relatively stable economy. Add low-interest rates and that can be enough to motivate many to buy into sought-after suburbs,” he says.

Matt Shipard of HIVE Property agrees school enrolment is one of the biggest drivers in property upgrades but notes they don’t always involve buying a bigger property.

“Actually, we see a lot of buyers and, increasingly younger buyers, looking to downsize into a better property, but one that might be on a smaller block size,” he says.

“For example, they might relocate from a five-bedroom property in, say, Isaacs for a new build in, say, Garran,” he says.

“That gives them the best of both worlds – proximity to preferred schools, a new home, and a smaller block with less maintenance needs. It’s a complete lifestyle decision.”

• Needs. A decision around a property upgrade begins with the identification of a need. Is it for more space, proximity to a preferred school or simply to live in a particular suburb?
• Finance. Taking the next step up the property ladder can be prompted by the availability of finance. Interest rates are at an all-time low and likely to stay that way for some time.
• Confidence. The Canberra market enjoys a point of differentiation from other capital cities with a relatively stable economy that delivers steady property price growth. That can offer a strong buy signal to upgrades.

If you’re thinking of upsizing, check out this home in Wamboin:

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Arundel Park began life 35 years ago when a 6.41-hectare parcel of land began to be transformed into what has become today’s stunning rural estate.

And this Wamboin gem doesn’t just offer a tranquil lifestyle with all the luxuries – an onsite vineyard and winery present a perfect change of lifestyle opportunity.

Expectations are heightened as electric gates open onto a long driveway that takes visitors across the O’Brahan Bridge and over the Yass River.

The homestead sits at the head of a curved driveway that creates the perfect sense of arrival. Inside, the country style ramps up, complemented by a contemporary open-plan design.

That’s not to say there isn’t a place for a formal lounge and dining room – there is and they increase the entertaining options.

And there’s no shortage of space in the robust kitchen with top-end appliances, acres of bench space, storage and a butler’s pantry.

That’s adjacent to a casual meals area and family room with access to the outdoor entertaining area. More of that later.

There are five bedrooms, all with built-in or walk-in wardrobes. They are serviced by two en suites and a main bathroom.

Outside, there are long, wide verandahs and sheltered patios with views over the beautiful expansive gardens or toward rolling hillside vistas.

There’s a tennis court, an established orchard, a chook run and a vegetable garden. And don’t forget that vineyard and winery.

Price guide: $1.595 million-$1.65 million

Private sale

Agent: Belle Property Kingston, Greg Hedger 0427 214 337