Tag Archives: Real Estate Advice

How to tick off your 2017 property goals

A lot of people will be planning on eating healthier and starting a new fitness regime this month but there will also be a lot of people looking at changing their property situation.

The problem with a lot of goals is that it’s hard to make those first few steps and kick them into action, so we have a bit of advice to get some common property goals off the ground.

Property goal #1: find a new home

Outgrowing your current home or just looking for a change? With interest rates at record lows, it’s a great time to buy and there are plenty of fantastic property opportunities in Mudgee to suit a variety of buyers and budgets.

If you had no luck finding a property in 2016, your problem could be that you’re looking at properties that are out of your price range. Try to expand your search this year and look at properties in new suburbs or properties that might not have all the features you originally wanted. The home you buy now doesn’t need to be the home you have forever, you can always renovate or move when you have saved more later on.

For those who live in Sydney and are getting frustrated by escalating property prices, now could be the time to look at your lifestyle and ask if a tree-change to Mudgee is the right move for you. 

Property goal #2: renovate

If you’re not thinking about moving you might be looking at improving the home you’ve already got. Renovations are a personal decision based on what you want to get out of your home, but if you’re looking to sell soon then it’s worth considering the renovations that will add the most value.

In general, the renovations that help add value include new kitchens and bathrooms, extensions and painting. Every property is unique though and different renovations will be needed to help it reach its full potential.

To help you get your renovations off the ground, talk to local builders, draftsmen, agents or an architect to help you decide what is right for your home.

Property goal #3: sell up and move on

Looking to move on to a new place or lifestyle? Making the decision to sell is never easy and there is always a lot to think about – such as where you will move to next and what you need to do to get the property ready for sale.

To help you make an informed decision about selling it’s worth having a chat to a Professionals Mudgee Real Estate Agent to find out what your home is worth and what you can do to help maximise its sale price. A chat with an agent might also help you understand what it happening in the local market and what else is available to buy when you do decide to move on.

Best of luck in all of your property goals for 2017, and remember if you need any help, don’t hesitate to get in touch with one of the team at Professional Mudgee Real Estate.

Which home improvements pay off?

Now that the spring selling season is here, and more people are thinking about putting their property on the Mudgee real estate, many of you will probably start thinking about what you can do at your property to help achieve a higher selling price.

Renovations are a popular way to maximise your sale price, however you need to be careful not to overcapitalise. You should have a clear budget in mind for any renovations you plan to take out and it’s a good idea not to spend more than 5% of the purchase price of your property.

Some of the most popular renovations for sellers include:

  • Creating an open plan layout;
  • Replacing kitchens and/bathrooms;
  • Adding large entertaining areas;
  • New floors;
  • Fresh coat of paint;
  • Adding extra bedrooms or bathrooms.

You don’t need to choose the most expensive products to make a big impact; many buyers are simply looking for a fresh, modern home they can move straight into, so prioritise the areas that need the most work.

Don’t rush straight into renovations without doing a little bit of research though. Find out what similar homes in your area are selling for and compare this with renovated properties. Would the amount you spend on renovations help you achieve a significantly higher sale price? If your property is already in ok to good condition it might not be worth renovating.

Chat to your Professionals Mudgee Real Estate agent 

Your Professionals Mudgee Real Estate agent can give you some extra pointers to help make your home’s sale successful, including renovating advice or other ways to help achieve a higher selling price. There are plenty of things you can do to help get your home noticed, such as the use of floor plans, videos, professional photos, home staging services and so much more. Our agents have knowledge and experience in marketing and selling in the local area so we can offer the best advice to make sure that your home sells for the best price.

If you would like to have a chat about selling your home then get in touch with us at Professionals Mudgee Real Estate.

Property investment advice – are you in it for the long-term?

Low interest rates and low supply to demand have caused property prices to heat up in most parts of the country.

When a property market goes up a lot of buyers look to make fast cash by flipping property, however buying an investment property for short-term capital gains can be very risky, even when it appears to be a growing market.

Those looking to make capital gains from property in short time frames may be disappointed, especially if an unforeseen event causes prices to soften before you get a chance to sell.

Some people can make quick gains from property with a bit of research, renovations and good luck, but if you aren’t experienced with property flipping then be prepared to hold onto a property for awhile before being able to make a large profit.

If you go into property investment with the mindset that you will hold onto the property for the long-term then any peaks or troughs in the property cycle will smooth out. Over time the real estate market tends to move in an upward direction and if you wait long enough your investment could end up being worth double or more than what you originally paid for it.

It can take 5 to 10 years before good returns can be made on an investment property.

Investments such as super and shares are generally looked at with a long-term mindset, and real estate is no different, however if you invest in property then you have the added benefit of being able to live in it and improve it while you’re waiting for your investment to grow. You could also make an income from property through renting it out.

Whether looking at making short-term or long-term gains from property investment, just remember to always do your own research and to talk to as many real estate and financial experts as you can.

For those who are ready to invest in their future and buy a property in Mudgee, you can find properties for sale at our website, professionalsmudgee.com.au or if you’re interested to find out how much your property has gone up in value in recent years then feel free to call us anytime for a property appraisal.

Should you sell your Mudgee property privately or at auction?

At Professionals Mudgee Real Estate, our sellers often ask us whether they think it is better to sell at auction or by private sale.

Both selling methods have their pros and cons and the most suitable type of sale really depends on the type of property being sold and the individual requirements of the seller.

But if you’re trying to decide whether you should opt for a private sale or an auction, here is some food for thought:

Why should you go for a private sale?

  • You can take your time with a private sale. This is useful if you want to wait and see what offers will come in, or if you want special sale terms such as an extended settlement period.
  • A private sale can be a cheaper option, as you won’t need to pay a specialist auctioneer or for any extra marketing costs to advertise the auction.
  • A private sale can be less intimidating for buyers and sellers, as both have more time to negotiate and consider offers.
  • If you’re a private person then you may prefer to have a sale away from the public eye.

Why should you go for an auction?

  • In general, auctions are quicker because a set date is given and buyers will feel a sense of urgency to make a decision right away. So if you need to sell quickly then an auction is a good option.
  • Auction takes PRICE out of the equation attracting the maximum amount of buyers from the market, you are then able to assess clearly where the current market is and make a decision if you accept that price or not.
  • You may attract a higher price with an auction as competition amongst buyers can push the price well above the expectation of the seller.
  • There are set terms for sale at an auction, which is good for sellers who want an unconditional sale (no cooling off period).

Overall it is important to do what is best for you and your property, so ask your Professionals Mudgee Real Estate agent what they recommend and they will be able to offer you advice based on your individual circumstances.

Should You Go Guarantor?

Real estate is an expensive investment to make and sometimes when a buyer has a hard time getting approval for a home loan they ask their family or friends if they can go guarantor for them… but is this a good idea?

It’s understandable that we want to help our friends and family members get into the real estate market, but you need to remember that when you sign as a guarantor for someone else you could be risking the security of your own assets, as well as risking your relationship with the person you’re signing for.

It’s important to carefully consider whether or not to become a guarantor for someone else. Ask yourself if the person you are signing for is trustworthy and if they are responsible enough to make continuous payments.

In the instance that a payment isn’t made you could get a default against your own name, or worse your assets could be sold as collateral to recover the costs of the debt – it’s just the same as if you didn’t make a payment on your own loan.

If you’re thinking about going guarantor for a friend, it’s imperative that you know what you’re getting yourself into, because your own home could end up being on the line. Changes out of the person’s control may mean that they can no longer make payments – what if they become ill, lose their job or have any kind of financial dilemma?

It can be a tough decision and one that you should never feel pressured into. You don’t want to ruin a relationship over financial problems and you don’t want to be liable for somebody else’s debts, so make sure you’re aware of what you’re getting into before signing anything.

Looking Past a Dated Interior

When you’re looking for a home to buy, it pays to have a bit of foresight. Looking past a dated interior can save you a considerable amount of money if you’re willing to live without the atmosphere of an ultra modern home.

If you’re trying to save some pennies when you’re buying a property, try to visualise a dated interior in a different light – put your furnishings in the room, and think about cost effective ways you can update the interior without having to outlay huge amounts of money.

There’s a myriad of ways in which you can achieve a more attractive interior in your home including:

  • Painting interior walls is the easiest way of making a home lighter, brighter and less dated. Do it yourself and you could achieve a new look and feel for only a few hundred dollars (depending on the size of the area you’re painting and type of paint you’re using).
  • Benchtops and tiles of the 70’s can be ghastly, but there are options for painting these too. It may be a short term fix, but it is effective and can save you a fortune if you’re just after a more modern colour effect.
  • Carpets can date a home, if there are hardwood timber floors underneath, you can give the property a new lease on life by ripping out the old carpet and polishing the floors. Whilst this may be more expensive, it will almost certainly add value. If the sellers haven’t done it, then they haven’t capitalised on a potential feature of the home. Good news for buyers!
  • Appliances such as stoves and ovens can be picked up at very reasonable prices if you don’t need the best of the best on the market. Check electrical, plumbing and gas fittings before updating these, but it will be worth it if you like to use modern appliances.

For Mudgee’s buyers, looking past a dated interior of a property can save you thousands of dollars when compared to a property that has all the modern trimmings. You can either update the interior as you go and capitalise on the potential of the property, or use the money you’ve saved on other things.

Happy house hunting!

What’s Your Home’s Name?

More and more property owners are taking it upon themselves to give their home an official name, but does a name help sell a home or improve its value?
 
A home with a name can be a great marketing tool, but it also makes a house feel more like a home because of the character and personality it adds to the building.
 
When you are selling an older-style home in particular, a name can help add to its sense of history. A name also works well for prestigious homes, homesteads and homes on acreage, as it is a way of making the home more distinguished.
 
If you are planning to name your home, you should do some research on the home itself first, because if it’s a period home, it’s possible that your home already has a name that has been lost over time.
 
If you’re choosing a name from scratch, it’s best to give your home a name that somehow relates to the history of the house or the area that it’s in. You can find ideas to help you name your home at www.nameyourhome.com.au.
 
Once you have chosen a name all you have to do is have a plaque made with it and place it out the front of your home where it can be seen. To make it official you simply need to tell your local council and the post office and let all your utility providers and friends know that they can now send letters with your home’s name in the address.
 
A name won’t necessarily help add value to a home, but it will certainly add a point of difference and it can help make a house feel that little more like a home.
 
Does you home have a name? If not, what do you think you would name it?

Welcome to Our Blog

For all of our loyal friends and followers, here’s something new we’re starting – it’s our new blog! We’ve very excited about it and can’t wait to start posting some helpful information for people looking for real estate tips and advice, and people wanting to learn about what’s happening in our local area of Mudgee.

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