Archive for category: Investing

Clean Up Your Property For The Best Sale Price

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Every property owner wants the best price possible when they list their home for sale. The properties that sell the quickest for the best price usually have something about them that makes them stand out. A great position, extra space, special features, proximity to transport and employment, and a property that is immediately liveable are the attributes most sought after by buyers.

It is the last attribute that seems to escape the notice of some sellers. As property agents ourselves, we are constantly amazed at the state of some properties we are asked to list for sale. While we understand that everyone has the right to live in their home the way they want to, there are some things that should be done before they ask our staff at Bunbury Real Estate to present it for inspection.

Easy Changes Have the Most Impact

Often the changes needed to get the best price are the easiest to do, so we offer some suggestions for sellers who need a bit of guidance. The first thing to do is increase the street appeal. Mow the yard, weed the gardens, clean the paths and driveways with a pressure hose, trim trees and shrubs that overhang or obstruct the front of the house.

A Clean Exterior and Some Minor Repairs Work Wonders

Now that the house can be seen clearly from the road, does it need cleaning? Wash the walls and windows, clear out the gutters, do minor repairs such as replacing damaged insect screens, broken steps or unstable hand rails. If it still looks shabby, a coat of paint in a modern colour scheme will have buyers stopping at the front gate to look further instead of just driving by.

The “Wow” Factor for the Interior

Now to create a “wow” factor once they get through the front door. This means starting with clean floors, walls and windows. Again, paint is the cheapest way to improve the interior of a dwelling. It covers the stains that won’t wash off, and by using the latest light reflecting colours, any rooms that need extra light will immediately get a lift.

Replace Anything Worn, Torn or Shabby

If the floor coverings are stained or ripped, replace them. Dirty, shabby or faded curtains should be taken down and disposed of. Replace them with the latest blinds. There are so many different styles now available that even the humble roller blind will be an improvement on old curtains.

Kitchen and Bathroom – A Quick Respray

Kitchens and bathrooms are more expensive to rework, but replacing old kitchen appliances with new stainless steel ones has an immediate impact. If money is an issue, respraying the cabinets, bench tops, tiles and bathroom fixtures, and installing new tap wear may be enough to finish off the upgrade.

Neat, clean, tidy, no pests or unpleasant smells, no rubbish in the yard – that is all it takes to get the best price.

Six Habits To Cultivate To Ensure Your Success In Property Investment

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There is a lot to learn about the property investment arena; that is for sure. There are several industry gurus who are full of good advice and tips on how to get the best out of your investments. Bunbury Real Estate have a few favourites of our own that we would like to share with you.

Start with the end in mind

This is the fun part, the part where you get to think of all the reasons you are actually considering becoming an investor at all. The cars, the home, the lifestyle. THINK BIG. When you feel lost – come back to step 1 to centre yourself.

Be Proactive – Pilot your own life

Once you have worked out what you want as per step 1, you will able to draw up a plan of action. Get detail orientated about the ‘whats’, ‘whens’, ‘wheres’ of your goals and the style of investment you are considering and DON’T PROCRASTINATE!

Find a group of like-minded people

Mixing with like-minded goal orientated people in a positive environment is essential. You will be surprised at the energy and synergy that can be created when you find “your people”.

Build a competent team

This is our favourite tip because this is where we get involved. Having the right go-to guy for all your property purchase needs is an essential part of the mix. Other members of your team should include, but are not limited to:
An Accountant to help with taxation, wealth protection and growth, A builder or carpenter to advise on costs of repairs and or improvements and then carry them out, A plumber for all your water and sewer issues, an electrician for all your electrical issues, Landscaper for garden and outdoor areas.

Know the market

Knowing the market is a bigger task than you realise. There are so many opportunities out there. Do you choose to invest in residential or rural homes? Do you invest in commercial property or go to larger industrial style projects? It is always a good idea to pick an area that interests you and then “niche” down until you find your target market. Once you have depth in that niche and have it mastered (or grow bored) – move on and grow your portfolio’s breadth.

Maintain and repair

It can be a hard pill to swallow but the bottom line is if you do not properly maintain your property and keep everything working and looking as it should there is a very good chance its full growth potential will not be realised.

Tips To Get You Started In Property Investment

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You may be thinking of investing to create wealth for the long term. One option you can look into is property investment. There are many benefits in property investment. You can choose to invest in a rental property and reap regular rental income, or you can choose to buy a property, wait for the value to increase and then sell it for a profit. But before you go buying a property to invest in, consider these tips first.

Property investment is one good investment because although the price is high, you do not have to pay for the property in one shot. You can take on financing from the bank and then rent out the property. The rental money you are getting should cover your amortisation and still give you extra cash as income.

Set a Budget

The first thing you will have to consider is the budget you will set for your investment. It is important that you know how much you will be able to borrow from the bank to finance your investment. You can get a pre-approval from you bank to see how much you can borrow.

When considering the budget, think of your other payables. You may be paying off your current home at the moment. There may also be other amortisations that you are still paying. Factor those in when setting your budget.

Think of Other Costs

The price of the property is not the only cost that you should be thinking about. There are other costs that go with it, such as taxes, installation of utilities and transfer fees. Before you start renting out the property, you may have to do some renovation work, which may be expensive if there are major repairs that need to be done. There are also ongoing costs such as maintenance and repairs, especially if your investment plan is to lease the property.
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Select the Right Property

For your property investment to be successful, you must choose the right property. Look for a property in high growth areas as properties here will be most in demand. Properties near schools, near public transport or the business district are sure to be in high demand.

If you need help in finding the right property to invest in, our agents at Bunbury Real Estate should be able to help. Simply let us know of your investment objectives, so we can match you with the right property.

Do Some of the Renovation Work

One way to cut the cost of your investment is to do some of the work by yourself. Some repairs and renovations may be simple enough. Get help from friends and family and take care of the simple tasks. You should leave the complicated problems to professionals, however.

Consider Hiring a Property Manager

You may think it is added costs to hire a property manager for a rental property, but, in fact, this can cut your overall costs in the long run. Moreover, you will be freed from the many problems that may be beyond your comprehension. Let our property managers at Bunbury Real Estate handle all the aspects of management. This will let you focus on your investment and on growing your investment portfolio.