Tag Archives: Real Estate Tips

5 things to do before selling your Mudgee home

So you want to sell your home, but where do you begin?

Apart from choosing the right agent, it’s important to get your property up to the best standard possible so you can kick off your selling campaign on the right foot. 

1. Clean up your gardens: First impressions count when selling. Overgrown gardens and un-mowed lawns say a lot about a property and make it look like it hasn’t been well maintained (which sends alarm bells to buyers). Consider hiring a professional gardener if you need to, but make sure your property looks neat and tidy from the street and reels buyers in, as opposed to turning them away.

2. Do general maintenance: If your property is showing signs of wear and tear, such as a creaking floorboards or leaking taps, then look at getting these fixed before putting the house on the market. These types of things may not bother you, but they can be extremely off-putting to a potential buyer.

3. Consider professional cleaning: Nobody likes to walk into an unclean home. While most people can do a fairly good job of cleaning, a professional cleaner might see things that you wouldn’t notice. Using professional cleaning services can help make your kitchen and bathroom areas feel like brand new, and get rid of any stains on carpets or couches too.

4. De-clutter and re-arrange furniture – People tend to judge everything about a property, and that includes what they find inside. A lot of clutter in a house can make it appear smaller than it is or make buyers question whether there’s enough storage. Empty rooms might also be a problem though, because buyers don’t know how to use the space. If you’re not sure where you should place your furniture, or if it’s letting the house down, then it might be worth considering a styling service.

5. Don’t forget the little details – If you want to sell your property for the best price possible then pay attention to even the smallest details. Sometimes it’s something small that ends up having a big impact on the final sales result, Get things right from the start of your property’s sale and take the advice of your agents so you end up with the best results possible.

If you would like to discuss selling your property and how to achieve the best sale price then don’t hesitate to get in touch with the Professionals Mudgee team.

7 things to research before you buy

Before buying a property it’s well worth finding out as much as you can about the property and the neighbourhood you plan on living in.

While you might already have a wish list of things that you want your property to have, make sure you also do your due diligence on the below as well:

1. The local neighbourhood – If there’s something you don’t like about the house you buy then you can change it, but you can’t change where it’s located. If you haven’t lived in the neighbourhood you plan on buying in, take your time finding out more about it. Find out things like where the best schools are and where you would do your local shopping.

Spend a bit of time in the area to get a good feel for it, and if you want to find out more then the website www.microburbs.com.au can provide a good overview of what can be found in the local area, as well as providing population statistics.

2. Your finances – Get to know your finances before starting your house hunt. Some buyers get into trouble when they make offers that they ultimately can’t afford, which causes a multitude of problems for everyone. Save yourself the heartache and go and talk to a lender before committing to a property.

3. Building quality – Buyers should always make the effort to get a professional building report and pest inspection done before purchasing a home. Building and pest inspectors can find issues that might not be visible to the naked eye, and alert you to anything that you might need to keep an eye on after buying.

4. Building restrictions – Building restrictions set out by the council might prevent you from doing the building work you had in mind. Get information from the Mid-Western Regional Council about any building restrictions that might apply to your property.

5. Sales and rental history – Find out what properties are selling and renting for in the area so you can get an idea of the local market.

The sales and rental information for most properties can be found on websites such as domain.com.au and onthehouse.com.au. The information provided on websites like these can provide an interesting insight into an individual property’s history, and it might even provide past listing photos that allow you to compare changes to the property over time.

6. Future developments – To avoid any surprises after moving it’s a good idea to research local planning approvals and find out if any new developments are about to begin nearby.

7. The contract – Make the effort to understand everything in your buying contract before signing. Check for things like inclusions and exclusions and have your solicitor or conveyancer review the contract for you.

If you’re thinking about buying Mudgee and would like any more advice or information then don’t hesitate to get in touch with the Professionals Mudgee Real Estate team.

Should you wait before fixing in your home loan rate?

After an interest rate cut, it’s common for borrowers to start asking whether or not it’s a good time to lock in a fixed home loan rate.

Getting a fixed home loan is always a little bit of a gamble, and most borrowers are reluctant to opt for a fixed rate unless they are fairly certain that rates are at the bottom of the cycle.

Rates could go up or down

Without having a crystal ball it’s hard to know if rates are as low as they will go, but economists are predicting that there will at least be one more interest rate cut this year. It’s predicted that the cash rate will drop by another 0.25%, bringing the current cash rate of 1.75% to 1.5%.

However, those who decide to wait for interest rates cuts are running the risk that rates will instead go up and they may miss out on the best deals.

Keep in mind too that the banks are aware when rates are about to go up and will adjust their fixed rates accordingly. You can generally get the best fixed-rate deals before the official cash rate reaches the bottom of the cycle. 

Rates may not go much lower

The official cash rate is already sitting at a historic low and while it is expected to drop by a further 25 basis points before the year is out, many economists have doubts about rates going any lower than that. Anything is possible, but you do have to wonder how low interest rates could go (and indeed how low individual banks are prepared to go).

Banks may not pass on cuts

Even if interest rates go lower, it doesn’t mean banks will pass on the cuts. In recent times we have seen the banks move independently of the RBA and it’s likely that they will continue to do so, meaning there is no guarantee that mortgage rates will get any lower.

Take advantage of good deals when you find them 

Don’t let a good deal pass you by because you think it’s worth waiting around for one that’s potentially better in the future.

Banks and lenders are currently battling it out to provide the best deals, providing a great opportunity for borrowers to shop around and find the best fixed or variable rates right now.

If you’re looking to change home loans and aren’t sure where to begin then feel free to come in and have a chat to us at Professionals Mudgee Real Estate for our recommendations on which local banks and brokers you should be talking to.

5 things to know before negotiating on property price

Have your eye on a property that’s being sold via private treaty? Not sure where to begin negotiations?

If you answered, “yes” to the above then you’re not the only one, with many prospective buyers asking us how they should kick off negotiations or what they need to know first. Unlike an auction, where all the bidding is done on the day, a private treaty sale can take time and it might be awhile before a price can be agreed upon between the buyer and seller.

Here are some tips that might help your negotiations go smoother:

  1. Don’t be afraid to move quickly on a property you want

If you like a home and it ticks all the boxes, it’s best to make a move on it as quickly as you can, particularly if you know others are interested in the property. It only takes one other buyer to make an offer ahead of you to result in you missing out.

Things can move very quickly when a property is in hot demand, so put in your best offer upfront and do it as soon as you can, otherwise you might regret missing out.

  1. Get mortgage pre-approval

It’s always a good idea to have your finances sorted before you start making offers. By having mortgage pre-approval you will have a solid idea of your financial limits and can feel more confident when making offers. Having pre-approval will also allow you to move quickly when you find a property you want and help ensure your offers don’t fall through.

  1. Put offers in writing

If you just mention figures in passing then you might not be taken as a serious buyer. When you are serious about a property and know how much you’re willing to pay then make your offer in writing to the real estate agent who will then take it to the vendor for consideration. If your offer is not accepted then you might need to reconsider your initial offer and this is where there may be some back and forth before both parties can come to an agreement.

  1. Think about contract terms

Price isn’t the only thing up for negotiation in a property sale. Property contracts can be subject to a broad range of conditions such as finance, building and pest, or the sale of the buyer’s property. It’s best to keep terms as simple as possible, however chat to the real estate agent to see if there are any terms that might seem attractive to the seller such as a long settlement or a lease back. In some cases you might be able to negotiate a sale price down if it has terms in favour of the seller. It’s also a good idea to seek advice from your solicitor or conveyancer.

  1. Remember that negotiations aren’t a game

Ultimately, if a property has everything you want and need then ask yourself if it’s really worth holding out because you want to save a few dollars or “win” in negotiations.

Every property is worth something different to different people, and there is no right price to pay. Don’t worry so much about what other buyers are doing and instead consider what a property is worth to you – would you be upset if it sold to someone else over the matter of a few extra thousand dollars?

When negotiating for a property you need to consider the big picture and ask what is more important – the extra bit of money you could potentially save, or locking in the home that you really want.

If you’re after any more advice about buying in Mudgee then don’t hesitate to get in touch with the Professionals Mudgee Real Estate team.

Is it a good idea to sell a tenanted property?

One of the most common questions we have from property investors thinking about selling their rental property is whether or not it is a good idea to have tenants in a property while it is for sale.

The answer to this will largely depend on whether the property will have more appeal to investors or owner-occupiers, and also on the quality of the tenants already in place.

If you have a rental property with good tenants then it might be best to keep them on. Keeping tenants during a sale means that you’ll still have rental income coming in, and if your tenants are clean and tidy then the property will present better with their furniture as opposed to being left empty.

However, if you have tenants you think could be difficult in terms of allowing you access to the property then it might be worth waiting till their lease is up to put the property on the market.

Tenants do need to provide the selling agent with “reasonable access” to the property, but at the end of the day they may be unwilling to cooperate and they can make it tricky for you to make appointments to show people through the property. If you can’t get people in to see the property when you need to then it could lead to missed opportunities and end up costing you more than missed rental income

Below are the pros and cons of keeping tenants during a sale that are worth considering:

Pros:

  • Rental income will be coming in while the property is on the market.
  • The property may present better with the tenant’s furniture inside.
  • If the property is likely to appeal to investors then having good tenants already in place can be a drawcard.

Cons:

  • Inspections and open homes will need to be coordinated with the tenant, which may not always be convenient.
  • You have no control over how the property is presented. While most tenants make the effort to clean up and present a property to its best for the owner, this isn’t always the case.
  • If a potential buyer is looking to live in the property, having tenants with a long lease could be a deterrent for them.

It is best to discuss any concerns you might have with your property manager or real estate agent. Everybody’s property situation is different so there is no “one size fits all” answer.

If you would like to have a chat about selling your rental property in Mudgee then please don’t hesitate to get in touch with the team at Professionals Mudgee Real Estate.

Tips to help you figure out what a home is worth

One of the most common questions among buyers is – “How much is that house worth?”

While it is possible to predict a price range that a property is likely to fall within, it’s hard to determine it’s exact selling price. This is because no two properties are exactly alike and so they can’t be valued in the same way you would value something you pick up at the grocery store.

Even when there are two homes side by side that have the same specifications, they can end up with vastly different selling prices. This could be because of a small differing attribute that one property has over the other, or it could simply be because there was a higher bidder around for one of the properties.

However, if you want to ensure you offer a fair market value on a property there are ways of figuring out a price range it’s likely to fall within.

Find out what similar properties have sold for

The most accurate way to determine the price range of a property is to look at past sales data. There are a variety of websites that can offer this information, including realstate.com.au, domain.com.au and onthehouse.com.au, just to name a few. Compare the property in question with other similar sold properties in the area, i.e. properties that have the same number of bedrooms and the same land size. Keep in mind that there will be other variables that will also affect the price such as quality of the property, views and heritage etc.

The time when a property was sold will also be a major factor. If it has been years since the last similar property was sold in the area, then there is a good chance that property values have gone up in that time.

Look out for things that make the property particularly unique

The more rare a property is, the more it’s likely to be worth. So, for example, if there are only a few homes with a spectacular view of a popular landmark then they’re going to be worth a lot more because they’re hard to come by.

Heritage properties can also attract higher values because they hold a unique history that is hard to put a price on.

Overall, the more unique, desirable and hard to come by a property, the more it’s likely to be worth.

There is no “right” price

As we have demonstrated, there are plenty of factors that influence property values and there is no “right” price for a property.

Every property is worth something different to different people and the only way to truly determine the final price is through negotiations between the buyer and seller.

However we can help provide you with an estimate based on our local market knowledge and experience. So if you would like to discuss property values in the Mudgee area, or would like a property appraisal then please don’t hesitate to get in touch with the Professionals Mudgee Real Estate team.

5 ways to boost your home’s kerb appeal

When you’re selling your home, one of the first things that potential buyers will notice is your home’s exterior.

Sure the inside of the property is important too, but the outside of the home is where you can make a real impact and create that all important first impression on buyers.

So what can you do to improve your home’s kerb appeal and reel in those buyers?

  1. Landscaping – Don’t overlook the importance of planting trees and plants around your property to make it feel homely and inviting. A bare front yard tends to make a property feel stark and exposed, so add some new garden beds and trees to help bring a bit of life to your front and backyard.
  1. Front door – Painting the entire house can be an expensive endeavour, but if you just want your home to look a little more modern then it might be worth just painting the front door. A fresh coat of paint on the front door can lift the appearance of the entire home and help add property value too. Check out Pinterest for some front door colour inspiration, with bright yellows, reds and blues being extremely popular at the moment.
  1. House numbers and letterbox – Sometimes small things can have a big impact. If your mailbox and house numbers are looking a little worse for wear then consider changing them to add a little bit of style or colour to the front of your home, and give it a more modern look.
  1. Windows and trim – If your windows are scratched, broken or old then your property is bound to look 100% better with new ones. If you can’t afford to replace windows then at least make sure they’re clean and that the trim looks neat and tidy. Adding window boxes can also help add a bit some colour and life to your home’s appearance.
  1. Pressure clean – If your home’s exterior has a build-up of mould, mildew or dirt on it, then a good pressure cleaning is probably the best thing you can do for it. Pressure cleaners can be bought or hired if you want to DIY, or you might prefer to hire a professional exterior cleaner to do the work for you.

Keep in mind that every property is different, so you need to decide what you can change at your property to make the biggest impact. If you would like any advice on improving your home’s kerb appeal then don’t hesitate to get in contact with the Professionals Mudgee Real Estate team.

Which White is Right?

painting with rollerIf you think you’ve narrowed down your paint choices by picking “white” then think again!

There’s a plethora of options when it comes to white paint and while they might all seem similar, they can create drastically different colour effects in a room.

So how do you decide between colours like Antique White and Raw Cotton? The best advice is to start with a sample pot of paint to see what your white paint will look like once it’s on the walls.

White paint can look drastically different once it’s on your home’s walls compared to what you might see in-store. Different levels of lighting and different furniture can bring out different shades of white, possibly making your chosen white look more blue, green or even red depending on the colour you’ve chosen.

As a general guide if you have a room that hasn’t got a lot of natural light, a warmer white can help make the room more inviting. If you’re painting a sunny room on the other hand, a cool white can help make it feel fresh and cool.

It’s important to take furniture and other room features into account though, as the wrong white can highlight or neutralise other elements in a room.

Again, the only way to know for sure is to test a paint sample in your home first, or you might like to call up a professional colour consultant to help you out.

If you’re after some white room ideas, check out Pinterest for some white room inspiration.

 

What were your thoughts on the first Room Reveal?

The Block Bedroom 1If you’ve been following The Block so far this season, you’ve no doubt got an opinion on the first room reveals from Sunday night.  We were incredibly impressed with the rooms offered up to start the new season, especially some of the creative ideas coming from the newbies.  The Blockheads revealed their guest bedrooms, and the results proved that quality materials and finishes will always impress the expert judges.

If you’re planning to build, or are renovating your Mudgee home, it might pay to look back at some of the positive and negatives from the first rooms reveals for handy tips.

  • Create a quality entrance.  Both Alisa & Lysandra and Chantelle & Steve impressed the judges with hand-crafted doors to their guest bedrooms.  Judge Shayna even commented that a good solid door gives energy to a room.  Rather than picking any old door off a shelf, consider how you might create the perfect entrance to your room.
  • We lost count how many times ‘storage’ was been mentioned during this phase of The Block.  Clearly the judges want to see it, and the Blockheads know they need to deliver it to secure a good price at auction.  Regardless of what you’re renovating, always consider how you can best utilise space to provide additional storage areas.  We saw a hidden walk-in robe, floor to ceiling wardrobes, a wardrobe below a floating desk, and a wall of shelves that rotates into fold down bed.
  • Statement art.  While all couples styled their rooms beautifully, the compliments were flowing for Dale and Brad’s choice of statement artwork, as well as Chantelle and Steve’s vintage blind.   Artwork on the walls can often make or break the feel of a room.  While it’s important when selling to keep things a little neutral to appeal to a broader market, a tastefully selected statement piece can really set a room off.
  • Creating a point of difference.  Find a way to make your home special and unique.  Kyal and Kara were the only couple to install under-floor heating, something that was picked up quickly by the judges.  Will this decision make a difference on Auction day?  Only time will tell, but the twins did state that they see these two as big competition.

For more tips on renovating or styling your Mudgee home, keep following our ‘I Love Mudgee’ blog, visit our Professionals Mudgee Real Estate office for your FREE copy of ‘Showtime- 101 Ways to Showcase Your Home for Sale’, or come in and chat to one of our friendly team today.

Which room impressed you the most on Sunday night?

How to make a good impression before buyers even get through the door

first impressionIn a competitive Mudgee real estate market, it’s really important that we give the right advice to our vendors.  After all, what’s the point in assigning an agent to sell your most valuable asset if they’re not going to help you achieve the best price possible?  Our team at Professionals Mudgee Real Estate take our responsibility very seriously, and pride ourselves on our knowledge of our local Mudgee real estate market and our ability to share the tips that work – the little things you can do to help your home sell faster, and for the maximum possible sale price.

When marketing a home in a competitive Mudgee market, the selling process begins long before the front door swings open at the first open house.  We all know the importance of making a good first impression.  Well the same is true for your home.  When buyers search for a home, there are two places they’ll often go before making it to an inspection, and it’s typically not to an agent.  They will usually begin their search online, and then if they’re not currently living too far away, they may do a drive-by.  Rather than worrying about what people are going to think, why not view these pre-inspection visits as opportunities to impress?

Making the most of your home’s street appeal is essential, as this is could make or break a sneaky drive-by visit.  You’ll need to decide how much effort is required to make your home appear inviting from the street – this could be anything from mowing the lawns, edging the garden beds and pulling out a few stray weeds, to a weekend working bee with all your family and friends.  Our advice is to do what you can.  At the very least your garden should be tidy, mown and edged.  Your house number should be clearly visible, and all fencing in good repair.  Make sure spider webs are swept away and overgrown trees and shrubs and trimmed back to let the light in.

Now onto the big one – how your Mudgee property will be appearing on the internet.  It’s true, a picture says a thousand words, so it’s really important that the pictures we put on the internet to show off your property actually do show it off.  The last thing buyers want to see when they check out an online listing is the owners mess strewn across each room.  A good declutter, a clean and tidy, and minor repairs are all that’s required to prevent your home from scaring away potential buyers.  There’s no need to spend lots of dollars on repairs, but if the curtains are torn, wardrobe doors have fallen off their tracks or light fittings aren’t looking their best, get these looking sharp before the photographer starts snapping.

For more tips on how to present your Mudgee home for sale, please contact our friendly team at Professionals Real Estate.