Published on March 7, 2014
BUYING, SELLING & AROUND THE HOME These tips will help you make an informed decision. Whether you are looking to build your property portfolio, or purchase your first home, or just spruce up your existing home. of home buyers look at properties they have found on the internet.
BUYING A PROPERTY 3 tips towards a smarter investment 1: IDENTIFY A PROPERTY THAT WILL GROW IN VALUE. Property value is hugely impacted by surrounding amenities. Properties located in close proximity to such places as: Schools, parks, beaches, public transport and facilities are more than likely to grow in value in good market conditions. They are more importantly more likely to hold their value in bad market conditions. 2: GET AN INDEPENDENT PROPERTY EVALUATION BEFORE YOU MAKE A DECISION Have you ever just instantly fallen in love with a home, or maybe just even a tiny feature of a home, for instance, a spa bath! People tend to become emotionally attached to property when buying, this often will force you to pay more than what something is worth. Get an evaluation, don't overpay. 3: PAYING MARKET VALUE FOR GOOD PROPERTY Little supply + big demand = Price increase. Keep this in mind when house hunting. Paying market value for a top property in a suburb in demand will be a better investment than buying cheaply in a low demand area.
1: HOUSES Many real estate agents believe houses hold a higher appeal for a larger market of renters, this including families with children and pets, who may steer clear of apartment living due to restrictions. Houses also often allow a higher rent to be charged as they appeal to more established and stable tenants. Price is certainly a factor when it comes to investing in a house. Compare in the area you are looking in. What would be a better purchase long term? 2: APARTMENTS With major cities going increasingly high density, land value is rising, and so are the apartments on that land. Apartments provide a generally cheaper investment option than houses. Consider the length of your investment plan, historical price guides and growth potential when choosing an area to buy in. 3: STUDENT HOUSING Australia is seeing an increasing number of students travel around the country for education. Many students need a residence to live if they don't live on campus, and often look to rent very close to where they are studying. Often this is in high density areas, as a lot of Australian Universities are in the Major Cities. In many cases, investing in student housing means a lower upfront cost, and ongoing rental returns. INVESTMENT COMPARISONS Although investments just boil down to personal choice, here is a quick overview of 3 types of property investments.
1: AUCTIONING Auctioning your home has seen many people surpass the price expectation of their home, but also not reach the benchmark. An auction is often successful due to psychological factors during the sale. Be realistic on your home price, as too high of a benchmark will shy people away, but a price that has several people interested creates competition, and competitive bidding will drive your price up. 2: THE SMELL Do not underestimate the power of smell. Scents can create a sense of attachment and association. Keep this is mind when preparing your home for sale. Yes you may have no rubbish in your bin, but does that area have a lingering smell? Even the type of food you cook can linger around your home for a while. Maybe don't cook a dish that carries unpleasant or overly strong smells the day before inspection! People often associate bad smells with unhealthiness, a factor you do not want attributed to your home! 3: GETTING THE BEST AGENT Choosing as real estate agent can be very hard as there are so many agents in the real estate business. Consider area success of the agent. You need someone who knows your area and your type of property. Pay attention to the way an agent negotiates their commission. You want someone who is in it to get YOU the best value, not just a quick sale for themselves. Some tips and tricks to get the best result on your home sale
AROUND YOUR HOME Advice on some simple, yet overlooked factors 1: BENEFITS OF KNOWING YOUR NEIGHBOURS If you don't know your neighbours already, simply taking the time to introduce yourself will make your life easier. Neighbours can not only become great friends, but can also be of benefit to your home and possessions. How many of you have gone away and had your neighbour feed your cat, scoop the pool, or just simply keep an eye on your home. Building a strong neighbourhood relationship has its many perks. 2: YOUR GARDEN AND CLIMATES Is your garden presentable all year round? This is a huge factor when it comes to selling, as a lot of people sell their homes in correlation with seasons. Having a steady, up kept garden all year round is something that can be extremely attractive to potential buyers. It is always best to be proactive with a garden, not reactive. Ensure all your plants have enough energy to get through the winter! 3: CHILD SAFE HOMES Is you home child safe? You may have no sharp objects around, but there are many other things to be aware of in a home. Poor air quality is bad not only for you, but your kids. Let your house breath, open some windows, ensure you have a good airflow. Allergens also need to be kept on top of. Carpets and pets are the main culprits, keep them clean! Lastly be weary of cords. Cords on blinds, or cords behind your TV can be dangerous not only to adventurous toddlers, but pets too!
RENOVATIONS Adding value to your home 1: SIMPLE CHANGES Simply things like painting a room, changing the blinds or curtains, new carpet or floor boards, all can have a much bigger impact on selling price than what they cost to do. Keep that in mind. Simple cost effective touch ups may generate a big return for you! 2: KITCHENS AND BATHROOMS It can be very hard to decide where you want to make a change in your home. Kitchens and bathrooms hold a huge appeal to buyers. When renovating keep in mind what is popular, research the current style trends. Apart from the finish, things like a plasma TV in the kitchen and two door fridges with an ice maker, both can create a better kitchen area. In the bathroom double mount sinks are very popular, and even the type of taps can change a bathrooms overall feel. 3: BUILDING ON A BLOCK OF LAND Buying land and then building your own home on it is a very appealing dream. So what do you need to look for? Be sure to take note of the surrounding. Are there many trees, what slope is the land at, is it elevated? Consider the impacts of rain. If building close to other homes, ask them if they have any problems with rain water, vegetation etc. These are very simply measures but do not overlook them. Take your time.
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