J U L Y
M A R K E T
2 0 1 9
P U L S E
C21
PUBLISHER Century 21 Australia Pty Ltd
CONTRIBUTORS Kathryn Madden Hafizah Osman Tim Lawless Chris Gray Bradley Beer On The Move Terri Scheer Landlord Insurance
EDITORIAL ENQUIRIES Century 21 Australia (02) 8295 0600
ADVERTISING ENQUIRIES
WELCOME TO THE
JULY 2019 ISSUE OF
C21 MARKET PULSE
Century 21 Australia (02) 8295 0600
DISCLAIMER We have in preparing this information used our best endeavours to ensure that the information contained therein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Prospective buyers and sellers should make their own enquiries to verify the information contained herein. All information contained in the CENTURY 21 Australia Pty Ltd website is provided as a convenience to clients. All links to property prices displayed on the website are current at the time of issue, but may change at any time and are subject to availability. For more information on our Privacy Policy please refer to: www.century21.com.au/privacy
C O N T E N T S J U L Y
PREPARE TO MOVE
02-03
2 0 1 9
CLAIMING DEPRECIATION
How to prepare for moving day.
Eight property depreciation tips for tax time.
Home Beautiful Magazine Editor, Kathryn Madden
BMT Tax Depreciation, Bradley Beer
EXPANDING NETWORK
04
IMPROVING YOUR INVESTMENT
Century 21 grows its presence in Sydney’s
Key ways to yield a better return on investment.
Eastern Suburbs.
Terri Scheer Landlord Insurance
Real Estate Business Journalist, Hafizah Osman
HOUSING CORRECTION
MOVE SMARTER 05
10-11
12
Common moving mistakes. On The Move
Sydney, Melbourne housing values edge higher, but national values trend lower.
STAGED SELLING
Corelogic Head of Research, Tim Lawless
THE LIVING IS EASY
08-09
06-07
It’s getting easier and easier.
Important rooms to focus on when selling your property.
OPEN HOMES
Your Empire CEO, Chris Gray
A selection of properties for sale with Century 21 from right around Australia.
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CENTURY 21
15-23
PREPARE TO MOVE
How to prepare for moving day
BY K AT H R Y N M A D D E N ,
EDITOR, HOME BEAUTIFUL MAGAZINE
Together with divorce and the death of a loved one, moving house is widely considered one of life’s most stressful events. And yet for the most part, relocating to a new home should be marked by positivity and excitement – overflowing boxes and hidden costs aside. There’s no denying that moving is a mammoth job, but these tips and tricks are designed to cut the chaos and take the pain out of packing.
6
WEEKS BEFORE
charity pick-up for unwanted goods, or to start listing them on Ebay or Gumtree.
Book a removalist (experts agree to lock in the earliest slot of the day so you won’t be at the mercy of other jobs running overtime). Charles
4
WEEKS BEFORE
Tarbey, Chairman of Century 21 in
Admin may be tiresome, but getting
Australia, suggests getting quotes in
it done early will be a weight off
writing and organising moving transit
your shoulders and your to-do list.
insurance, which could save you in
Arrange to have mail redirected and
the long run. Plan where furniture
inform your financial institutions,
will be placed in your new abode –
plus the Australian Taxation Office
there’s no point paying to relocate
and Electoral Office, of your new
your weighty marble-topped dining
address. Then stock up on boxes
table, only to find the shape’s not
and masking tape and get packing.
right for your new space. Now’s also
Start with non-essentials (books
the time to organise a garage sale or
and ornaments), and work your way
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up to necessities closer to moving day. Use small boxes for heavy items and large boxes for lighter items, clearly marking packages containing breakables with “Fragile”. Be sure to label each box with its contents; or you could go high-tech and take photos of what’s inside. If your budget permits, consider a professional packing (and unpacking) service.
2
WEEKS BEFORE
Contact your utility providers to arrange the final reading of your meter and relocate any services (this may be an opportunity to negotiate a better deal). While you’re at it, transfer your newspaper, magazine or streaming subscriptions, then switch your focus to scrubbing and sweeping your home, room by room. Of course you’ll also need to schedule in a deep and sparkling clean before you hand over the keys – preferably after all your possessions have been loaded into the removalist’s van.
1
WEEK BEFORE
Prepare a moving-day kit packed with the essentials – an Esky with food and drink, medical supplies, phone chargers, plus a kettle, toiletries and toothbrushes for the other end. Also keep bedlinen and
ABOUT THE CONTRIBUTOR
some towels close at hand, along
Home Beautiful is Australia’s fastest
with legal documents and valuables
growing homemaker brand. With beautiful
you wouldn’t risk losing. The day
original photography, gorgeous styled
before you move, defrost the fridge
stories and signature inspirational how-tos,
and unplug all appliance cords.
Home Beautiful is simply one of the most
Finally, organise a friend or family to
loved, most recognised and commercially successful brands in Australia.
babysit your children (and/or pets!) on the big day.
Article Link: https://www.homebeautiful.com.au/how-toprepare-for-moving-day?category=open_ homes
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EXPANDING NETWORK
CENTURY 21 GROWS ITS PRESENCE IN SYDNEY’S EASTERN SUBURBS Century 21 Dixon has opened its doors in Sydney’s eastern suburbs, with two experienced real estate professionals partnering to take charge.
BY HAFIZAH OSMAN, JOURNALIST AT R E A L E S TAT E B U S I N E S S
prospect of working with like-
brand under the leadership of
minded agents across Century 21
director Tony Cuthel.
and servicing our local area under our new banner.”
The brand also recently opened a Central West office in Forbes,
Century 21 Australia CEO Warren McCarthy welcomed
in regional NSW, with Tara Kelly leading the helm and was
Century 21 Dixon to After a 25-year friendship, Murray
the network.
Howe and Andrew Duignan
“For many
have joined forces to launch the
years, we
business.
have admired
With more than 30 years of experience, Mr Howe has successfully built one of the eastern suburb’s largest property management businesses.
recently recognised
“The new branding projects the type of modern look that we wanted and... will help us generate interest moving forward.”
the success achieved by both Murray and Andrew. We are very fortunate
for taking out numerous state network accolades in WA. Its offices, Team Brockhurst and Advance Realty from WA,
On the other hand, Mr Duignan has
to have their vote
more than 33 years of real estate
of confidence in our new
experience, and was one of the
strategy, brand and its offering,”
Australia (REIA) annual awards and
most celebrated salespeople within
he said.
both took out numerous awards at
a rival network.
were both finalists in the Real Estate Institute of
“We are looking forward to
“We were attracted to the global
watching what this powerful
strength of the Century 21 brand
partnership will achieve moving
and its technology offering that we
forward.”
felt was superior to what we had seen in the market,” Mr Duignan said. “The new branding projects the type of modern look that we wanted and… will help us generate interest moving forward. “We are very excited by the
the C21 state awards.
This office opening comes days after Century 21 unveiled an office in Sydney’s Inner West. Formerly known as Bay West Real Estate at Concord West, the latter’s team of real estate agents and property manager commenced operating under the Century 21
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The story Century 21 grows its presence in Sydney’s eastern suburbs, first appeared on Real Estate Business (REB). Article Link: https://www.realestatebusiness.com.au/ breaking-news/18731-century-21-grows-itspresence-in-sydney-s-eastern-suburbs
HOUSING CORRECTION
SYDNEY, MELBOURNE HOUSING VALUES EDGE HIGHER, BUT NATIONAL VALUES TREND LOWER According to CoreLogic head of research Tim Lawless, the June housing market results present an early sign that lower mortgage rates and improved sentiment are already having a flow-on effect for housing market conditions in Sydney and Melbourne, while most other regions of Australia continue to show relatively soft housing market outcomes. National housing market conditions
Melbourne where the pace of
drop in value, highlighting the broad
falling home values has been
geographic scope of this housing
consistently reducing over the year
market downturn. The largest falls
to date. Importantly, the improving
over the past three months were
conditions through to mid-May
recorded in Darwin (-3.6%) and
were largely ‘organic’, pre-dating
Perth (-2.1%) where the weaker
the positive boost in sentiment
trend has persisted since mid-2014.
following the federal election and
Adelaide recorded the smallest
interest rate cuts in early June,” Tim
decline amongst the capitals over
Lawless said.
the quarter, with values down 0.4%.
Sydney and Melbourne dwelling
Across the regional markets, values
values recorded a slight rise in June,
were 0.4% lower over the month to
up 0.1% and 0.2% respectively, and
be down 3.1% for the financial year.
was the first monthly increase in
Dwelling values recorded a rise over
Sydney housing values since the
the June quarter in Regional South
market peak in July 2017. Melbourne
Australia (+0.6%) and Regional
dwelling values haven’t risen since
Tasmania (+1.3%). Although these
the market moved through a peak in
areas have recorded modest gains
through June,
dwelling values; the smallest month-onmonth decline in the national
over the quarter, the trend across
The only other
with CoreLogic fall in national
CO R E LO G I C H E A D O F R E S E A R C H
November 2017.
continued to improve
reporting a 0.2%
BY T I M L AW L E S S ,
regions to record a rise in housing
“Sydney and Melbourne dwelling values recorded a slight rise in June, up 0.1% and 0.2% respectively...”
values over the month were Hobart (+0.2%), as well as the regional areas of South
series since March 2018. “The subtle rate of decline was heavily influenced by trends across Sydney and
Australia (+0.1%) and Northern Territory (+0.2%) On a quarterly basis, every capital city housing market has recorded a
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the regional areas of Australia is generally one that is losing momentum.
THE LIVING IS EASY
IT’S GETTING EASIER AND EASIER B Y C H R I S G R A Y, C E O, YO U R E M P I R E
We’ve just had two interest rate cuts and a major announcement by APRA (Australian Prudential Regulation Authority) and that could mean now is possibility the easiest time it’s been in years, to get into the property market. APRA, which is the regulatory authority for the banks, has announced that rather than the banks assessing your ability to
service a mortgage at a minimum of
passed on the full cut, but you
7% (and often up to 7.25%), they can
should still be at least 0.4% better
now do it at just 2.5% above your
off which equals $4,000 on a $1m
loans actual interest rate.
loan and there’s talk of even more
That makes a massive difference to
cuts before the end of the year.
how much you can borrow if you’re paying 2.99% and the banks now assess you at 5.49% versus 7.25%.
WHAT ABOUT RENTS?
You should be able to borrow more
Some people may still be thinking,
than you could a few months or
I’m going to wait till rents rise before
years ago.
I enter the market as they’re fairly
Not only should you be able to borrow more, but it will also cost you less with the recent 0.50% interest rate drop. Not all lenders
low at the moment. Yes, rents are down but it’s not the rent % that matters, it’s the difference between the rent and the mortgage that really
“
Not only should you be able to borrow more, but it will also cost you less with the recent 0.50% interest rate drop.
– Chris Gray
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counts, as that’s the negative cash
flattening or starting to grow
flow you will have to fund.
depending on what geographical
When I started investing in Australia, rents were 5% ($500/wk on a $500k property) and the mortgage rate was around 7-8% which means you had to fund a loss of 2-3% (less other expenses and tax). These days most rents are around 3-4% and most mortgages are around 3.5% to 4.5% and so you may only need to fund 0-1% (less other expenses and tax).
WHAT ABOUT THE MARKET FALLING FURTHER? Whilst there’s no guarantees about what’s in store for the property market, most signs are that the
WHAT ABOUT RENTS?
market you’re in and what price
It’s easy to follow friends, family
range you’re looking at. There’s not
and colleagues when it comes to
many journalists, economists or
investing, but often they’re following
economists talking about 20 - 40%
other sheep. My golden rule to
further falls.
buying property is buy
If you’re sticking to the second
1) When you have a deposit
hand, median priced properties in the inner cities, close to (but not in) the CBD (where there’s no limit to
2) When you can get a mortgage 3) When you have the cash to hold
supply), chances are the market is
on for the short term
going to be pretty stable and looking
It may sound simple, but it’s
to rise fairly soon.
often the simple things that work,
If you avoid areas with lots of highrise apartments, where they all look
especially when you invest from decade to decade.
the same and have been targeted by speculators and foreigners who can only buy brand new, then you shouldn’t go too far wrong.
market is either slowing down,
ABOUT THE CONTRIBUTOR Chris Gray is CEO of Your Empire, a buyers’ agency that buys homes and investments for time-poor people – searching, negotiating, renovating and managing property on their behalf. Chris has spent over 10 years as the host of ‘Your Property Empire’ on Sky News Business channel, where he’s interviewed various heads of property research companies and major industry figures. Chris is a qualified accountant, buyer’s agent and mortgage broker. For more information visit www.yourempire.com.au, www.chrisgray.com.au and follow Chris on Twitter: @ChrisGrayEmpire.
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C L A I M I N G D E P R E C I AT I O N
EIGHT PROPERTY DEPRECIATION TIPS FOR TAX TIME
BY BRADLEY BEER, B M T TA X D E P R E C I AT I O N
It’s the start of the new financial year and many investors will be preparing their annual income tax return.
works deduction and for the plant and equipment assets within the property. The Australian Taxation Office (ATO) allows owners of any commercial property in which construction
Getting your tax in order can be an overwhelming task, but when you have a commercial investment property it can seem even more complex. There are many factors for commercial property investors to consider when lodging a tax return, including property depreciation. To help you get the most out of your commercial property, here are eight top property depreciation tips for this end of financial year.
1. BOTH NEW AND OLD COMMERCIAL PROPERTIES CAN BE DEPRECIATED
commenced after 20th July 1982 to claim capital works deductions. If your property was built before this date, there may still be deductions available to claim so it’s important to consult with an expert. For traveller accommodation this date is the 21st of August 1979. Depending on the year of construction, capital works deductions can be claimed at either 2.5 or 4 per cent. Depreciation deductions for plant and equipment assets are generally calculated based on the individual effective life for each item as set by the ATO.
2. COMMERCIAL TENANTS CAN CLAIM DEPRECIATION TOO It’s not just commercial property owners who can claim depreciation. Commercial tenants can claim depreciation for any fit-out they add to a property once their lease commences, including blinds, carpets, shelving, smoke alarms and security systems. If lease conditions mandate a tenant return the property to its original condition, they may also be able to claim a write-off for any remaining depreciable value on the removed assets. In this instance, scrapping can be applied. Assets left behind by a previous tenant may also be available to be claimed by the property owner. Given both parties can claim deductions at the same time, it’s important for owners and
Depreciation deductions can be
tenants to contact a specialist
claimed for the wear and tear of
quantity surveyor to request a tax
the building structure via a capital
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3. KNOW THE DIFFERENCE BETWEEN REPAIRS AND IMPROVEMENTS
5. MAKE USE OF TECHNIQUES THAT MAXIMISE DEDUCTIONS EARLY
7. GET AN EXPERT TO ASSESS THE PROPERTY AND PERFORM A SITE INSPECTION
difference between a deductible
As noted above, specialist quantity
To ensure the correct deductions
repair and an improvement.
surveyors can maximise your tax
are claimed, investors should speak
return by applying the immediate
with a specialist quantity surveyor.
write-off rule and adding eligible
Tax Ruling 97/25 states quantity
assets to a low-value pool.
surveyors are one of the only
It’s important to understand the
A repair is when an item or property is returned to its original state to retain its value. Repairs attract an immediate 100 per cent deduction
An immediate write-off applies
in the year of expense.
to any item within an investment
Improvements, on the other hand, occur when an investor enhances the condition of an item or property beyond that of when it
A quantity surveyor will inspect the
$300. Investors are entitled to write-
property to make sure every plant
off the full amount of these asset in
and equipment asset is identified
the year of purchase.
and that claims for fit-outs are
Low-value pooling, on the other
are capital in nature they must be
hand, is a method of depreciating
depreciated over time.
plant and equipment assets which have a value of less than $1,000.
If you haven’t owned your investment property for a full year
Such items can be added to a an accelerated rate to maximise
for your investment property has
deductions. Item can be depreciated
many lasting benefits and can help
at 18.75 per cent in the first year and
you build your wealth. A BMT Tax
37.5 per cent each year thereafter.
Depreciation Schedule will outline
deductions this financial year.
rules may also apply if an asset is
period their property is rented out or is genuinely available for rent. That is, the property is given broad exposure to potential tenants and considering all the circumstances
8. ORDER A TAX DEPRECIATION SCHEDULE Having a tax depreciation schedule
Immediate write-off and pooling
depreciation deductions for the
correctly noted.
low-value pool and written off at
you can still claim depreciation
Investors can claim partial year
construction costs for depreciation.
property with a value of less than
was purchased. As improvements
4. DON’T WAIT IF YOU’VE ONLY JUST PURCHASED A PROPERTY
professions qualified to estimate
below a certain value, particularly for
the available deductions your property and help your accountant when lodging your tax return.
small and medium sized business owners. As plant and equipment items are rarely the same age as the property and are often replaced and updated, there can be significant deductions available.
tenants are reasonably likely to rent the property. Quantity surveyors such as BMT Tax Depreciation use legislative tools such as the immediate write-off rule and low-value pooling method to make partial year claims more beneficial to investors.
6. AMEND PREVIOUS TAX RETURNS If you haven’t been claiming property depreciation deductions, the ATO allows investors to amend
ABOUT THE CONTRIBUTOR
two previous tax returns. A tax
Article provided by BMT Tax Depreciation. Bradley
depreciation schedule can provide
Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief
the details of any deductions missed
Executive Officer of BMT Tax Depreciation.
for an accountant to make a claim.
Please contact 1300 728 726 or visit www.bmtqs.com.au for an Australia-wide service.
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IMPROVING YOUR INVESTMENT
KEY WAYS TO YIELD A BETTER RETURN ON INVESTMENT BY TERRI SCHEER LANDLORD INSURANCE Making improvements to a rental property is a balancing act. To get the best returns on your property it needs to be tailored to your target market, but this requires the right kind of budget, allocated wisely.
MEETING TENANTS’ EXPECTATIONS
START WITH THE BASICS
Your property manager will also be
set of needs, there are basic
able to advise you on the type of
improvements that you can make to
tenants who are most likely to be
your property that will appeal to any
attracted to your property and their
future tenant. These should be at the
specific expectations. Families, for
top of your to-do list.
While tenants will have a diverse
example, might only be looking at properties with a fully fenced yard, while elderly renters could be
When buying a residential
looking for safety measures such as
investment property or when a
rails on steps and wheelchair access.
tenant puts in notice, it’s time to take stock and consider what improvements to the property could attract a higher rental return.
Once you have all the information and a clear picture of your target market, set a suitable budget that will ensure a greater rental return
1. General maintenance Ensure electricals and plumbing are in order, the property is neat and tidy, and any problems such as broken roof tiles or sticking windows are fixed. Replace all old or non-functioning appliances and make sure there are robust security locks on all doors and windows. An
The first step is to speak with
without over-capitalising on the
your property manager, who will
value of the property itself. Then
know what tenants in the area are
allocate the budget carefully,
looking for and what features they
prioritising only the most important
2. Modernise
expect for the rent they pay. In
improvements for your target market.
With the proliferation of mobile
certain rental brackets, tenants may
overhaul like this can add an increase to your weekly rent alone.
phones, laptops and other electronic
expect additional inclusions such
appliances, it is important to have
as a dishwasher. If these are not
plenty of power points and internet
provided, they may look elsewhere.
connectivity options for tenants. If your property is already on the NBN
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(or soon will be) be sure prospective
Important improvements to consider
property. Installing LED or other
tenants are aware of this.
might be:
low power usage fittings will also
appeal to tenants, as doing so will
reduce their power bills.
3. Storage Ample storage is especially
• A fresh paint job throughout,
using a neutral colour scheme.
important in apartments. Aside from
• Replacing worn or stained carpets
built-in wardrobes in all bedrooms,
consider adding additional storage in the kitchen and bathroom and a linen cupboard if possible. If tenants see plenty of built-in storage, they can see they won’t have to move large wardrobes or buy additional storage cupboards.
with new carpet or hard flooring.
• Adding a tool shed in a suburban
property or bike storage in an
inner-city property.
• Offering a garden maintenance
service and factoring the fee into
the rent.
• Adding an alarm system: even
a local alarm can make a rental
property more appealing and is
cheaper than a back-to-base
Anything you spend from your
alarm with call out fees.
budget beyond the above items
• Replacing outdated light fittings
WHERE TO ALLOCATE YOUR REMAINING BUDGET
is discretionary depending on the condition of the property and what will appeal most to your target market.
with smart, low budget modern
fittings can be a surprisingly
affordable and effective way
to lift the look and feel of your
Above all, timing is important. You want to aim to achieve as much as possible within a short timeframe in order to avoid leaving the property vacant for longer than absolutely necessary. With careful planning and key targeted improvements, you will not only gain a higher rental return but also attract more potential tenants to view and potentially apply for the property. This could afford a greater pool of tenants, to find the most reliable and most likely to stay long term.
ABOUT THE CONTRIBUTOR The information contained in this article is intended to be of a general nature only. Terri Scheer does not accept any legal responsibility for any loss incurred as a result of reliance upon it. Insurance issued by Vero Insurance. Read the Product Disclosure Statement before buying this insurance and consider whether it is right for you. Contact Terri Scheer on 1800 804 016 or visit our website at www.terrischeer.com.au for a copy. https://www.terrischeer.com.au/
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MOVE SMARTER
COMMON MOVING MISTAKES BY ON THE MOVE From forgetting to check whether your sofa will fit through the door of your new home to injuring yourself trying to save money on removal experts – here’s a list of common moving mistakes to avoid. Thank us later…
hesitate to ask your friends for help, you can always repay the favour when they move.
Make sure your household is fully
FORGETTING ABOUT UTILITY CONNECTIONS
insured to cover the move. You
Nothing is worse than enduring the
items may break during the process.
“It will be fine, let’s worry about it at the time” is not the attitude to take when moving home. Trust us. It takes at least a month to pack up your life in an organised manner, so don’t kid yourself – you don’t want to be having a last-minute panic when you suddenly realise you’re never going to get everything together for the time the removal van arrives.
you can’t take a hot shower at the end of the day because you forgot have to both cancel at your current place and arrange a new connection at your new home. Alternatively use a utilities connections company and let them organise things for you.
While it might seem like a great way to save money, you could seriously
unfortunately it is a possibility that
FORGETTING TO NOTIFY RELEVANT COMPANIES OF YOUR CHANGE OF ADDRESS From your employer and your children’s school to the taxation office, it can be a pain but it’s vital to update anyone that might try to contact you via post of your change
NOT MEASURING FURNITURE
of address.
This one is easily forgotten in the chaos of the move, but what happens when you get to your new place and the removal experts can’t fit your sofa through the front door? Measure your furniture and
TAKING ON TOO MUCH YOURSELF
might not want to think about it, but
stress of moving only to discover
to get connected. Remember you
LEAVING PACKING YOUR BELONGINGS UNTIL THE LAST MINUTE
NOT CHECKING YOUR INSURANCE
make sure it will fit both through the entrance to your new home and in the room you’re planning for it to go in.
ABOUT THE CONTRIBUTOR On the Move is Australia’s leading service connections specialist providing a one-stop service for electricity, gas, phone, internet, pay TV and insurance. Since 2004 On The Move has partnered with Real Estate agencies and other organisations to give their customers a convenient and seamless move-in,
injure yourself too. And don’t
lights-on experience. https://www.onthemove.com.au/
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STAGED SELLING
IMPORTANT ROOMS TO FOCUS ON WHEN SELLING YOUR PROPERTY Some people will argue that presentation and tactics like home staging have the potential to add significantly to the selling price of a home, while others will disagree. Regardless of which side of the argument they fall on, I think that when selling, most people and their agents will try to make a property look its best. And while ideally you’d
about whether or not to purchase
sure that prospective buyers can
the property.
see themselves feeling at home in
With this being the case, it is therefore important that this area
The kitchen is a further essential
gets the benefit of your focus when
area that deserves consideration.
making selling preparations. Ensure
No matter how the rest of a
that your entry is not crowded with
property is used, the kitchen is
furniture and has ample room to
a room that is (in most cases)
allow your agent to chat to people
consistently utilised in the day to
as they enter. Additionally, some
day movements of the occupants of
attractive artwork could work well
a home. Consider associating this
to make your property look elegant
space with notions of healthiness
and inviting.
by ensuring it is clean on inspection day and even placing a bowl of
like to be able to ensure that every
colourful fruit in easy view of
room in a house or unit is prepared
entrants. If the kitchen in your
to look as good as it possibly can,
property has windows, make sure
many times we lack either the
they are open, maximising as much
time or resources, or both, to give
natural light as is available.
an entire property the golden
In the end, buyers can usually make
treatment.
a decision on a property regardless
To that end, if you are preparing
of the way various rooms look.
your property for sale and know that
However, it definitely can’t hurt
you may not be able to give every
to present your property in a way
room your full attention, it may be
that appeals to as many buyers as
worth focusing on certain key areas
possible, allowing them to visualise
to maximise the viewer appeal of your property.
your property.
themselves living there. While Another important space to focus
I can’t make any promises, this
The first room that people walk
on is the main area where people
sense of connection could help
into when entering your home
congregate in your property – the
prospective purchasers to assign
is a strong contender to be the
living room for example. Again,
a higher value to your property
most important area to focus
this room should not be crowded
than what they may have otherwise
on when selling. This is the first
with furniture and the furniture that
considered it to be worth.
impression people will get, and their
remains should be configured so
initial thoughts could shape their
as to convey a sense of interaction.
subsequent and overall opinions
Essentially you are trying to make
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1. CHECK THE WORK STATIONS
double check if there are any new
A house needs the essentials: a
to pay more for a beach view, only
bathroom, kitchen and laundry.
to find that beach view will soon be
However, if you’re visiting multiple
obscured by an apartment building
properties it can be easy to
or shopping centre.
areas of development happening in the suburb, because you don’t want
skip over a careful analysis of those rooms. If you’re looking at apartments, then the laundry can
4. DO YOUR RESEARCH
be particularly illusive. Make sure
If you plan to buy an apartment
to check the exact location of the
be sure to get a strata inspection
laundry, that there’s enough room
report and familiarise yourself
in the kitchen to be functional and
with any levy fees, past, current or
the layout of the bathroom.
future issues, future plans for the building and any maintenance or
2. KEEP THE FUTURE IN MIND
repairs that need to be done. It’s important to know what money you might be expected to cough up.
Although you may just be buying your first property, are you planing to have children? Or planning to get a pet? Do you need a space where you can work from home? Do you need a garden or are you happy with a courtyard or balcony? These are all important questions to keep at the forefront of your mind when viewing a property, because a onebedroom unit with a small balcony might suit your life now, but it isn’t going to cater to a couple with a child and a dog. Try to future-proof your investment so it can grow and adapt as your life changes.
3. SPEND SOME TIME IN THE AREA You don’t want to move into your brand-new home, only to discover it’s under a flight path, the suburb has heavy traffic or is slated for development. Spend some time getting to know the suburb and familiarise yourself with the traffic situation, the noise situation, and if it has facilities such as a doctor, dentist, supermarket and chemist within easy reach. It also pays to
C21 MARKET PULSE
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CENTURY 21
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