Before listing your home for sale, a pre-sale home inspection can help you identify and remedy issues that could negatively impact your sales price. By taking this initiative, you're already one step ahead of serious buyers who will be arranging their own pre-purchase building and pest inspection.
A comprehensive inspection will also include a check for termites and other pests. If you haven’t had regular pest inspections throughout the life of your home, especially for an older house, a termite infestation discovered during the purchaser’s inspection could lose you the sale or result in less than the asking price. However, if you are aware ahead of time, and can show proof that infestations have been treated, you’ll improve the likelihood of a quicker sale at the best price.
Your pre-sale inspection report, and subsequent proof of any issues that you have addressed, can be provided by your real estate agent to prospective buyers. This will give ...
First impressions matter when you’re selling your home. Street appeal, or how your home looks from the street, used to be enough for making a strong first impression with prospective buyers. But with the majority of buyers now starting their house hunting online, real estate photos have become a crucial deciding factor.
Photos will eventually make or break a buyer’s decision to schedule a tour of your home. Homes with high-quality photography tend to sell faster, and professional photography can increase the end purchase price compared to those with amateur photography.
Professional photography is not cheap. However, it is very important to invest in property photography and professional marketing. DIY photos just don’t cut it, and will end up costing you more in either a lower price achieved, or a longer time on the market due to less interest from potential buyers.
When choosing which photographer to work with, here are our top five tip...
Street appeal — how attractive your property is, as seen from the street — can persuade buyers to come inside, or to simply drive past. In fact, half of purchase decisions are made during the first 60 seconds as the buyer is coming up the walkway..
If you’ve lived in your home for a while, you’re probably used to its minor imperfections: the broken porch step, the missing shingle, the overgrown bushes in the garden. Unfortunately, many homebuyers can't visualise making improvements themselves, and often won't even give your house the time of day if it looks poorly maintained or outdated. Homebuyers who can visualise changes will expect the price of the house to be lowered to compensate for the work they plan to do.
By making a few small upgrades and maintaining a neutral look and clean aesthetic before you put your house up for sale, you are providing a clean slate for potential buyers to imagine their own lives in the space. This will help...
In the home staging process, accessorising is the final crucial step. When all the clutter is removed from your house, your rooms will look bare. Carefully chosen colours and accessories balance each room, define its function and communicate a lifestyle buyers want to aspire to.
When you first decorated your home, you designed it according to your personal style. But now that you're selling your house, you need to consider what kind of design appeals to the most number of buyers.
Many home sellers can go over the top with accessories. Although a bold, eclectic style can look striking, it can also confuse a buyer and make them feel uncomfortable. Put it this way — how many accessories would you wear on a blind date?
The art of accessorising was established by the ancient Greeks, who discovered long ago that skilfully using ratios and proportions in design is pleasing to the eye. These rules still apply today.
The longer you stay in a house, the more it becomes an extension of your style and personality. This can be seen in the colour palette and décor, from your kitschy yellow wallpaper to the Beatles posters in your living room. While these little idiosyncrasies can make your home unique and specific to you, they can be distracting to potential buyers.
This is the purpose of neutralising and depersonalising — you’re allowing buyers to picture themselves moving their own families into your home. By removing your personal tastes, you can make your buyers feel “at home” without making them feel like they're snooping around somebody else's home.
You want to prepare your home in a way that makes it attractive to the broadest range of buyer preferences. A properly staged house feels warm and cosy, and at the same time feels like a brand-new space. Be careful not to depersonalise too much, however, because a sterile environment can seem cold an...
Every homeowner wants their property to sell fast and bring top dollar, but it takes more than decluttering to make this happen. After you’ve cleared your house of clutter, the next step is to make it sparkle. Before you stage your home for prospective buyers, you need to scrub it from top to bottom. We’ll share with you some tricks of the trade.
Ideally, your home should evoke fresh and enticing scents, not smell of harsh cleaning chemicals. Make your own all-purpose disinfectant cleaner with a few drops of lemon essential oils in a glass spray bottle filled with half vinegar and half water. They clean, sanitise and deodorise countertops, fridges and other shiny surfaces just as well as regular detergents.
To get rid of stubborn grease stains on your pots and pans, mix two tablespoons of baking soda, a cup of water and half a cup of vinegar. Let it boil for ten minutes. The stains will come right off.
The process of selecting the perfect home can be overwhelming, especially for a first-time home buyer. Nothing makes a bigger impact than a clutter-free home.
Closets and cupboards
It’s tempting to hide errant items in hallway closets or pantry cupboards. But if potential buyers peek into your storage compartments and see them bursting at the seams, they will assume that their things won’t fit in your house for them either.
If it isn't in the budget to rent a separate storage unit, box up all your excess items and tuck them away in the garage. Home buyers are much more forgiving of a packed garage than a cluttered house. On the other hand, you don't want to pack the garage wall-to-wall with boxes and crates, either. Take a cue from decluttering guru Marie Kondo and consider downsizing — ...
Purchasing a property can be both rewarding and exciting, but it’s important to not overlook the finer details of your property title when signing on the dotted line.
Although there are various property titles in Australia, only a few apply to most property buyers - Strata Titles and The Freehold Title (or Torrens Title).
What is the difference between a Strata Title and a Freehold Title (Torrens Title)?
The freehold or Torrens title can be considered as the most out-and-out form to completely own land. A freehold property can be sold, leased or mortgaged without restriction outside of local planning and environmental legislation.
With a freehold title, the buyer owns both the house and land on which it was built. This is the most popular type of property title in Australia, mainly because it covers most residential and commercial properties.
Varying slightly between states, the strata title gives t...
It's a questions that is often asked: is it better as an investor to buy an existing or new property?
While established properties provide you with he security blanket that they're already built and ready to lease, the capital needed to purchase an established property can be higher than off-the-plan. Moreover, you're potentially buying from an area that's likely to already be in its prime or at least, reaching that point. For investors, this can reduce the capital growth potential of their purchase for the longer term, whereas a new property in a growing area can often increase in value as infrastructure and demand increases.
Here's an overview of some of the considerations for property investors.
Higher total base tax deduction entitlement
With off-the-plan properties there are more avenues for you to claim depreciation. For instance, you can claim 10-20% of the new property's construction cost. This means up to $40K-$80K in a capital allowance...
Although some body corporate by-laws in newer developments like Dakabin Crossing are pet-friendly, there is still a great deal of confusion about the rights of pet owners in residential developments. Some by-laws still place restriction on keeping animals.
Let's clarify five common myths and misconceptions about pets in residential complexes governed by a body corporate.
"I live in a complex where by-laws state 'no pets'. Does this mean I can never own a pet?"
There may be places that say 'No Pets Allowed'. In most cases, however, this just means you can't have a pet without the consent of the body corporate.
Double-check your community's Body Corporate by-laws. If they're too restrictive, ask for reconsideration or proper consent. Be open and transparent. Go through the necessary legal processes, secure the right registrations and get the proper documentation. When you do it by the book, you are more likely to be granted permission to k...
But how is housing affordability measured in the latest report? There are four factors that are considered:
The ratio of dwelling prices to annual household income
The number of years it takes to save a 20% deposit (based on the assumption that a household can save 15% of their gross annual income)
The proportion of household income required to service an 80% loan to value ratio (LVR) mortgage
The proportion of household income required to pay rent
It’s a common known fact that housing affordability in Australia has deteriorated over the past 5-10 years although this latest report indicates a slight improvement over the last quarter. The report outlined six factors contributing to the increase in property pri...
No plans set for the coming weekend yet? Moreton Bay’s Food & Wine Festival has you covered! Running for two days along the Redcliffe foreshore, there’s plenty to enjoy for both kids and adults!
Explore a number of different mini-festivals and areas spread along the venue such as the seafood and wine deck, the Cabana bar, the Moreton Bay Life Coffee Corner, a dog café, the Kitchen and Lifestyle Pavilion, and much more.
With all this, plus entertainment including a fireworks display and a Greek dance performance, you won’t want to miss out on this one!
WHEN: Saturday, 8th September from 10am until 8pm Sunday, 9th September from 10am until 4pm
For the past couple of months we have seen the southern markets cool - specifically Sydney & Melbourne - making the next hotspots tipped by experts to be either Hobart or Brisbane. Either one is fine. If you're looking for investment many experts recognise the population growth, economic growth and market growth all showing strength in Brisbane.
With the cooling of the big southern markets, interstate migration has increased with many in these cities looking to get out and settle for more in sunny Queensland.
This article here also points out the best vacancy rates for investors to consider when looking to invest north is that the Brisbane rental market is getting tighter. The Read more
Whether you're an investor, a local, or in real estate yourself, you've probably noticed the significant growth of the Moreton Bay Region over recent years.
Thanks to recent evaluations from REIQ, the Moreton Bay Region has been calculated to have the lowest vacancy rates in the greatest Brisbane Region! (study quoted quarter end June 2018)
The calculation is achieved via submission from real estate agents of all residential rentals at the end of each quarter. The markets are grouped into three categories - weak, healthy or tight. The categories are based on the following rates:
0-2.5% = Tight 2.5-3.5% = Healthy 3.5% and over = Weak
Recently the Australian Taxation Office announced amendments to GST laws impacting purchasers of new residential premises or subdivision of residential land seeing the GST withholding amount to be held and remitted to the ATO on or before settlement.
This means that from the 1st July 2018 any contract entered into for off-the-plan, new residential premises or residential subdivisions will be subject to these new laws.
But what does this mean for you, the buyer?
Essentially there is nothing more for you to do. You should proceed with your purchase as usual. The GST amount will be deducted from the purchase price at settlement and a cheque made out to the ATO as opposed to this component going directly to the developer.
In saying that, when purchasing property that may be impacted by this change it is essential that you ensure the Contract of Sale purchase price INCLUDES GST. The last thing you want is to find out that you didn't read it properly and...
In March, just last week, we were privileged to attend a presentation to hear the presentation by David Plank, Head of Australian Economics with ANZ Bank. We thought the research and insights in the presentation were quite valuable and wanted to share them here.
The global backdrop and robust domestic conditions mean it isn’t surprising Australia’s growth has recovered after a hiccup in 2016. The outlook for global activity is the most buoyant in some years and Queensland is again showing some life. Understand for yourself with the latest from ANZ's Head of Economics.
Buying property off-the-plan can be one of the best, and most cost effective, ways to secure an investment property or your first home.
If you decide to undertake a purchase off-the-plan, there are many key questions to ask a developer (or the person recommending you purchase it) to ensure your final decision is based on solid research and fundamentals. I hope that these five questions will get you on your way and point you in the right direction.
What are the Body Corporate Rates?
Knowing what the body corporate rates or strata fees are is important for both investors and owner occupiers. You need to know all the additional expenses you will need up-front at settlement as well as what you will need to cover on an on-going basis. Most developers should have this information handy and include it in any information they provide to you however, some will only provide it when requested.
When it comes to body corporate rates, it is also important to k...
Queensland property developer, Linzen Property Group, recently announced they will be the first in Australia to accept payments of their projects in Bitcoin, the first cryptocurrency.
If you're not familiar with Bitcoin or cryptocurrency, you can find out more here.
With the cryptocurrency space becoming more and more mainstream, it is important to remain at the forefront in your industry and create opportunities for the marketplace to pay for their property, whether for investment or to occupy, with their preferred currency, including Bitcoin.
Internationally there have been a number of properties sold in Bitcoin however, Linzen Property Group is the first developer in Australia to offer to accept the cryptocurrency as payment - either in part or full.
The local legislation is still in force regardless of the method of payment by the buyer and for foreign investors, there is...
They seek it here, they seek it there, they seek that damned elusive oversupply everywhere!
Despite contstant speculation by backyard property experts that our market is ready to burst, Australian capital city housing markets continue to display synchronised, orderly growth and correction phases.
(Image courtesy of Dr Andrew Wilson)
Correction 2011: Prices Fall – higher rates and prices reduce affordability; Confidence low
The 31st August 2016 saw Queensland Parliament pass legislation that will impact all QLD property investors by 2022.
This legislation was put in place as a result of the recommendations by the coroner’s inquest following the famous Slacks Creek fire which saw 11 people within the one family lose their lives in a house fire.
If you own an investment property in QLD, you will need to comply by 2022, however, if you sell that property, it must be up to the current requirements prior to sale.
When purchasing an existing property in QLD, you will need to ensure the new legislation is followed. When purchasing a new property in QLD, be sure to ask if they are installing Smoke Alarms as per the new legislation as it will depend when Development Approval was given, not that it is being built after the legislation came into effect.
The properties at Dakabin Crossing Luxury townhouse Development will be fitted out with smoke alarms und...
A recent article on realestate.com.au highlighted the latest statistics for internal migration naming Brisbane as Australia's most popular capital city to move to.
The suburbs that had the highest migration within Brisbane were: North Lakes; Dakabin; Mango Hill; Griffin and Murrumba Downs - all in the Moreton Bay Region and all in and around growing North Lakes City Centre.
Brisbane's net gains through internal migration were greater than both Sydney and Melbourne, likely due to the issues around housing affordability in the southern cities.
Buying property off-the-plan in a planned townhouse community or apartment building can sometimes be a little confusing as the processes are different to purchasing an existing property. It is also different to purchasing a house and land to build. The main differences are that you are only signing one contract for the purchase for an off-the-plan purchase. There are also some instances where a house and land package is sold on one contract however, usually you will sign a contract to purchase the land and then sign your build contract.
Here are some handy tips for purchasing property off-the-plan.
Set your Budget
A great place to begin is to speak with your mortgage broker or financial institution to get expert advice on how much you are able to borrow to finance your purchase.
If purchasing off-the-plan in a strata titled development or house and land package...
We’ve all seen what has happened in Sydney and parts of NSW over the past couple of years, watching property values skyrocket in a relatively short amount of time – some areas experiencing 80% growth in 5 years to be precise. This has seen an increase of investors hit the market as mum-and-dad investors now venture north to cash in their equity, invest in Queensland and build further wealth by riding the growth that is now predicted for Queensland over the next five years. Or south-east Queensland to be more specific....
When considering purchasing a property, there are so many options available to investors, owner occupiers and first home buyers. The following benefits are mostly directed to investors however, others may also find these benefits applicable to their situation.
Get in Early Launch of the development prior to construction is commonly known as 'pre-public' stage release followed by a 'public opportunity'. Buyers who get in early often experience valuable opportunities and can enjoy significant growth between the initial stage releases to the final stages of the development. Buying off-the-plan early may give you more choice within the development ensuring you have first option at some of the best properties.
Lower Prices Often times, lower prices are offered when a development is released to buyers to encourage them to purchase early. Normally, prices will increase between 3-5% during each stage release. A future purchase will cost inva...