Top Ten Factors 1. Location - State 2. Location - City / Suburb / Town 3. Location - Street / Address 4. Dwelling - Type & Characteristics 5. Dwelling - Aesthetic Appeal 6. Dwelling - Design 7. Dwelling - Finishes & Inclusions
8. Dwelling - Ownership Costs 9. Management - Property Management 10. Management - Caretaking
1. Location - State •
Economic Outlook
•
Levels of employment
•
Strong population growth projections
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Relative affordability
2. Location
– City / Suburb / Town •
Economic Outlook
•
Levels of employment
•
Population growth
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Proximity to closest major city, ocean, river and or town centre
•
Median house price of the suburb
•
Median house price of the neighbouring suburbs
•
Availability of lifestyle amenity (education, entertainment, retail and dining, fitness)
•
Availability of employment
•
Availability of public transport
•
Availability of road infrastructure
•
Demographics
3. Location – Street / Address •
Proximity to lifestyle amenity (transport, education, retail, etc)
•
Proximity to negative amenity (main roads, train lines and stations, industrial areas, etc)
•
Land Size
•
Title (freehold, strata)
•
School zone
•
Streetscape (neighbouring houses, trees, road width, on street parking)
•
Council zoning
•
Negative Council overlays (flooding, waterways, transport corridors)
4. Dwelling
– Type & Characteristics •
Type (house, townhouse, apartment , land)
•
Age (new, existing, warranty?)
•
Features (size, bedrooms, living spaces, bathrooms, car parking)
•
Ongoing land and/or building maintenance
•
Orientation (sun light)
•
Outlook (positive or negative)
•
Tax benefits (building depreciation, fixtures depreciation)
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Scarcity (supply and demand)
•
Potential to add value by renovating
5. Dwelling
– Aesthetic Appeal • Architecture • Landscaping • Colour palette • Current presentation
6. Dwelling – Design
• Liveable floor plan (connected indoor / outdoor spaces, etc) • Practical floor plan (storage, side by side garaging, etc) • Environmentally friendly (energy efficiency, water efficiency) Ex. natural light, cross ventilation • Occupant friendly (indoor air quality, Electromagnetic radiation (EMR), Radiofrequency (RF) • Technology
7. Dwelling
– Finishes & Inclusions •
Aesthetics
•
Warranty
•
Occupant friendly (low VOC paints, toxin free building products, etc)
•
Environmentally friendly (LED lights, solar, water tanks, etc)
8. Dwelling
– Ownership Costs •
Land tax
•
Body corporate fees
•
Property Management fees
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Building maintenance
•
Garden maintenance
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Interest costs
•
Depreciation
•
Rental return
9. Management
– Property Management •
Who is the property manager?
•
How many properties do they manage?
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Do they have a good knowledge of the property (security, services, etc)
•
Do they know your warranty of building and fixtures?
•
Do they have relationships with the builder and/or trades who completed the work?
•
How do they achieve the best possible rent
•
Do they use professional photos
•
Do they have professional reporting
10. Management – Caretaking
• Ensure the external aesthetic remains superior for the long term (gardens, compliance, lights, etc) • Who is looking after the outside or common property? – Property Managers generally focus on the inside – The Body Corporate role is to administer the BC not manage the common property
• Is there a caretaker or gardener? • How are they reporting to the owners? • Does the Developer offer a caretaking service?