THE 7 THINGS BUYERS SEE FIRST

Many people concentrate on interiors when putting their house up for sale. For good reason - the inside is where purchasers will be living and sleeping. But overlooking the exterior of the house can undo some of the good work home sellers have done inside when they de-clutter, paint and generally pay attention to maintenance.


Purchasers start making judgements from the minute they step out of the car - and a bad first impression can stay with them when they go inside. Untidy or damaged gutters, cobwebs or overgrown gardens brimming with weeds, might just make purchasers decide you don’t care about your home - and make them wonder how good your attention to detail is in the areas they can’t see like plumbing and wiring. Cleanliness is important - even people who don’t mind their own dirt and clutter usually notice other people’s. Before putting the house on the market, stand at the curb and have a critical look. This is the first view your purchasers will see. Does it measure up? Here are six things that are easy to do and will make a difference to the exterior of your house.

1. Sweep paths and decks.
2. Clean gutters, window frames and eaves.
3. Don’t forget to wash outdoor or deck furniture if you have it - in winter it is easy to overlook if you’re not using it like you do in summer. If it is grungy and decrepit, borrow or buy something that suits your home. It’s not expensive in the scheme of things.
4. Clear away odds and ends - even those that are lurking in the less visited parts of the garden. Remember purchasers will see EVERYTHING. Old plant pots and broken toys or tool, even the half-finished projects or building materials that look like works in progress to you - all these spoil the look of your house.
5. Organise for high pressure hoses to clean mould or moss from brick work or stone.
6. Invest in a bit of mulching - it makes garden beds look tidy and the property look nurtured and loved.
7. Put in some colour where you know people will notice it. You can use pots if that is easier. Just make sure they are kept watered as drooping plants are worse than no plants at all.

 localpropertynews.net

Ferderal Government proposes a new "Green Tax" for homes before their sale or lease

Late last month, the Federal Government announced that they would be listening to the public on the idea of a "green rating" for all Australian homes. Under the scheme, mandatory "green ratings" would be allocated to apartments and houses before they are put up for lease or for sale. This rating would be applicable to both new and old homes and the vendors/landlords would be expected to maintain or improve the "green" rating of the dwelling.

A national report has been drafted detailing four possible versions of auditing a home in NSW. All the audits drafted involve the payment of a financial "tax" payable by the vendor/landlord if they wish to put the property up for sale or for lease. The most expensive of these incorporates a $774 fee for an assessor to perform the audit and an additional $50 if the owner wishes to be present during the assessment. That is a fee of over $800 to assess the homes "green rating."

As can be expected, there is some strong opposition to the Government's proposal. Real Estate Institute of NSW president Wayne Stewart said, "The Government needs to work with consumers to bring about change rather than slap them with what looks like being another tax of up to $800."

The cheapest option would be for the owner to complete a checklist at a cost of $41, a scheme that is already being used in Queensland.

The Government feels that a good green rating could be reflected in an increased value of the property. "Assessing the energy and water efficiency characteristics of a home can help people chose a property that is potentially more comfortable and cheaper to run."

What are your thoughts? Is another tax on housing really the answer to getting us to adopt greener versions of our homes?

Source:  Sarah Lordon Real Estate

To increase or not to increase, that is the question...

When reviewing rents and tenancy agreements the question often arises “Should the rent be increased and if so, by how much?”


As your managing agent, when the tenancy agreement is under review, the first thing we assess is whether the tenant is looking after the property and paying the rent. If the answer to this question is no then renewing the tenancy would be detrimental to protecting and maximising your income. If the answer is ‘yes’ then we would proceed in completing a comparative market analysis of your property to assess the price the property may rent for on the current market.

This is the price that could comfortably be achieved if your tenant decided to vacate the property at the end of their tenancy. Only a few years ago, it was common practice for many agents to just increase the rent by $5 or $10 (regardless of the market review), however, as tenants are becoming more astute and, through Internet resources, are now armed with up-to-date information about the rental market, it is becoming increasingly important to be accurate in accessing the market value of the property.


Many investors are reluctant to increase rents at properties where they have retained a good, loyal tenant for a long period of time, and although this is sometimes a good practice where vacancy rates are high and the rent has only marginally risen, it is important to refrain from consistently choosing this approach. As the market continues to increase without the property being adjusted accordingly the tenant becomes shielded from market conditions, and when they eventually have to move they are unprepared for the increase in living costs.

It is also important to move with the market as conditions do not always reflect increases in costs. When these costs occur, as income is not being maximised, the costs can have a negative effect on the affordability of the investment. If an investor is put in a position where they need to sell their property, having the rent at less than market value will have a negative impact on securing a sale at a reasonable price. ■