Selling your property? Here are some simple tips.

Selling your property? Here are some simple tips.

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It’s SPRING…. the birds are chirping, the sun is shining and the FOR SALE signs are popping up!

It’s not every day you sell a property, so it’s understandable that some vendors approach the process with trepidation. To help you avoid the common pitfalls, we have picked out the top 10 things you need to get right when selling your property.

Killara Logan Reserve  1. The overall presentation
If you’ve got a renovator’s delight, you might be able to sell your property as is. In general, though, before taking your home to market, you should put in the hard yards to present it correctly. This means a thorough review of property and garden maintenance. Does the house need painting, the garden replanting or the gutters fixing? Attend to anything that could catch buyers’ eyes and stop them from falling in love with your home.

  2. The bigger issues
If your home faces any major issues – a tree dangerously close to the property, a roof that needs replacing or a particularly steep driveway – consider how you’ll deal with it. Either invest time and money to mitigate the problem or formulate a plan for the selling campaign.

  3. The clean-up and clear-out
Once you’ve got the bones in order, it’s time to make it neat and tidy for potential buyers. Clear out the clutter and give surfaces a good cleaning. Consider whether you can improve the look and feel of your home by replacing some of your furniture with borrowed items or hired pieces from a staging company. A good agent (see #4 below) will be able to advise you.

  4. The agent
When choosing an agent to help you in selling your property, meet with them, talk to them, attend some of their current open homes and assess their way of doing business. You’re looking for someone who consistently follows up with contacts and who is engaging with potential buyers. You also want a skilled negotiator. It’s good practice to interview at least three real estate agents to assess whether you think their advice regarding selling your property and its price is sensible and achievable.

  5. The price
Getting the price right on your property can be tricky. Many sellers feel they need to get back what they put in, but buyers don’t price homes this way. Instead, they take their cues from local market conditions. To assess the market, look at recent property sales that are similar to yours in terms of condition; size; and number of bedrooms, bathrooms and car spaces. Don’t just review advertised prices – research actual sales.

  6. The photographs
Engage a professional photographer to take the pictures of your home. (The same goes for a videographer if you’re using a video.) True, it’s an added cost, but it’s vital to showcase your property at its best. It has also been shown that properties that use professional photos to advertise have 50% more attendees to open homes than those that don’t and we all know – more people through the door is what will end up selling your property!

selling your property  7. The wording
Choosing the right phrasing for marketing and selling your property can be challenging. The best agents highlight key points to catch buyers’ attention but don’t overwhelm with too much detail. Include the more comprehensive information in the brochure, handouts at viewings and – if you have one – the property’s website.

selling your property  8. The documentation
Don’t let your sale fall through because you don’t have all the paperwork in place. Take time before you go to market to ensure you’re up-to-date with any required certifications from local council and other relevant bodies in regards to selling your property.

selling your property  9. The access
You want as many buyers as possible to see your property. Whenever possible, you should be ready to show the home at a moment’s notice. With today’s time-poor population, people may request an inspection at all hours of the day.

selling your property  10. The settlement dates
Some buyers may request a longer settlement; others might be desperate to move in. Being able to be flexible on settlement dates may be just what you need to get a buyer over the line. Successfully marketing and selling your property requires a bit of work but it will all be worth it in the end.

If you need advise on anything finance, selling your property, buying or building a new home or investment then please call us here at Blue Wave Property Strategies – we are here to help! Call Chris now on 0434 449 455. Happy Selling!

How to Buy Without a 20% Deposit

How to Buy Without a 20% Deposit

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When you consider that a small flat in Sydney could set you back half a million dollars at the moment, saving up a 20% deposit to buy that flat – $100,000 can seem an overwhelming – or just plain impossible task…… That’s where lenders mortgage insurance can help!

lenders mortgage insurance

Lenders mortgage insurance (LMI) may be an added expense, but it offers buyers the opportunity to dive into the property market earlier, without saving up an entire 20 per cent of the property’s purchase price as a deposit.

What exactly is lenders mortgage insurance?
LMI protects the bank or lender, should a home loan go into default, guaranteeing that the lender will get its money back if the property needs to be sold and there is a shortfall in repaying the loan.

While a 20% deposit generally provides a good buffer against any drops in property value over the life of a loan, LMI can also provide the same protection, meaning borrowers can purchase property with a smaller deposit.

lenders mortgage insurance

What’s in it for you?
For the borrower, it may seem LMI is just another expense to cover, but this insurance can mean that some buyers will be able to enter the property market with only a five per cent deposit saved. In the example above with a $500,000 property purchase – this brings the deposit down from $100,000 to just $25,000.

And, if the market is hot and prices are rising rapidly, paying LMI so that you can buy now could be cheaper than taking the time to save a bigger deposit. In the time it takes to save a higher deposit amount, property prices may well have surged by more than cost of the insurance so, for some properties and purchasers, it can make good financial sense to purchase earlier even with the added cost of LMI, especially when you consider the rent that you would pay while you’re saving.

Lenders mortgage insurance

What you need to know
The insurance premium is generally a one-off payment, but you may be able to roll it into the loan amount so that you are paying for it month-by-month along with your mortgage.

There can be a big difference between the premiums paid if you have, for example, a 10 per cent deposit saved compared with a five per cent deposit, so it may well be worth trying to gather together some extra funds. Many banks will not look at less than a 10% deposit so you will also need to do your research. At the end of the day – the bigger the deposit the better but when time is critical use what ever avenue is available to you.

Let Chris do the research for you and let you know which banks will lend to you and how much deposit you will need – it costs you nothing to be prepared. Call Chris now on 0434 449 455 or email us at info@bluewaveproperty.com.au

Selling your property? Here are some simple tips.

What is the best time of year to buy a house?

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While spring is renowned as the time that sellers dust off their properties and place them on the market, this doesn’t mean it is necessarily the best time for buyers to go shopping.

One of the biggest issues with shopping in spring is the flood of other buyers looking to snag their dream homes, which increases competition and housing prices. There may be more properties on the market, but there’s just as many additional buyers.

best time

“There is typically a seasonal uplift in buyer numbers over the last quarter of the year, which means the benefits of a higher number of options to choose from are offset by a higher number of prospective buyers,” explains CoreLogic RP Data’s Tim Lawless.

Buyers may be better off when there are fewer buyers around in the winter months, at least from the perspective of being able to negotiate hard on price. Also you will be seeing the property in it’s darkest coldest time, leaving you with no nasty surprises come winter time.

Although there is a lot more to look at during spring, there isn’t necessarily more to choose from, depending on your individual circumstances and finances. As there are more buyers in the market you risk finding that perfect house only to have it snatched away from you buy higher offers.

It may be just as beneficial for buyers to look around during slower months, as this will give them more time to consider properties, more time to negotiate and more time to organise their loans.

“Seasonal factors will always play a part in the dynamic of the housing market, but so too do other factors that are harder to anticipate such as changes in the regulatory framework that might make obtaining finance easier or harder, changes to economic circumstances or other things that can be absolutely unexpected,” Lawless says.

Taking all of this into consideration, the best time to buy is as varied as the people looking. It is a good idea to assess what’s most important to you before following the crowd.

“Buyers are probably best positioned to use the timing that works best for them and their budgets rather than waiting for a particular time of the season where conditions might be more or less favourable,” Lawless says.

Before you hit the open home circuit, speak to Chris about how to finance your property purchase and when is the best time for you to look at purchasing. Pre approval is an easy process so you are ready to go when you find your ideal property, contact Chris now on 0434 449 455 or email info@bluewaveproperty.com.au