Decluttering, minimising what you own and generally living a simpler life with less possessions, was all the rage in 2019 but it's possibly even more relevant in 2020.
At Harcourts, our priority is supporting our clients and the community throughout this challenging time. During recent conversations we have been asked a number of questions about the state of the rental market, the impact that Coronavirus is having on Tenants and Landlords and how we are adapting to the changing landscape.
The 2020 bushfire season has left many Australians devastated without homes and livelihood. Even more devastating is that so many of those affected by the bushfires are underinsured. Our partners at Mortgage Express offer tips to understanding what events and damage can be covered by insurance as a vital first step in assessing whether or not you have the right cover for your home.
Renovating a rental property can be a costly exercise but making improvements to the property can yield a healthy return. To ensure you’re maximising your investment, it’s important not to overcapitalise, to stick to your budget, and to use durable products and materials. If you are considering renovating your rental property, ask yourself these 3 questions first.
Investing in property has long been a popular way for Australians to build wealth. As a long-term investment, it offers several benefits including a number of potential tax advantages that can result from investing in a well-managed property. Let’s take a closer look at these tax advantages.
When it comes to preparation, Olympic athletes leave no stone unturned.
Because the competition is so intense, preparing for the Olympics becomes life and death, with endless months of training, and unyielding focus. Preparing for a game of soccer down the beach with some friends – not so much.
The same principle applies when preparing your property for sale and deciding what to repair, and what not to. Where do you draw the line? What do you fix and what do you leave? (In this article we look exclusively at the interior of your property).
Much depends on the competition. If the competition is intense, then preparation is all important.
If the market in your area is super-hot, and houses are selling at Usain Bolt speed, it shows that buyers are attracted to the area rather than the finer details.
In such a sellers’ market, it is possible only minor, essential repairs need to be made. Undertaking costlier repairs or renovations are likely to have little or no effect on the inevitability of sale or price, and represent an unnecessary cost.
The other major factor in deciding what to repair is how urgently you want to sell.
If you want to sell your house “yesterday”, then you need to remove every barrier that could potentially short-circuit a sale. For example, some buyers will pull out of a sale because of a seemingly insignificant fault, like a door knob that falls off in their hand.
If in doubt, seek advice from your Harcourts Sales Consultant.
There is a distinctive difference between repairs and renovations, with repairs being regarded as restoring something back to its original condition, while renovations are improvements or upgrades.
So what are the repairs to consider before selling a property?
Curtains and window furnishings
Floors and ceilings
When considering what to repair, put yourself in the shoes of the potential buyer and work out what would cause you to have second thoughts about buying, and for peace of mind, repair whatever is a potential deal-breaker.
Buying your first investment property requires research and planning. Too often the choice is made for the wrong reasons, which can be difficult to reverse, if at all.