When selling your home, your main objective is to get the best possible price. So when should you put it on the market? Does the time of year make a difference? The answer is that it depends on the property itself. The time of year can make a difference in some cases, however the location and how the property market is performing are important considerations too. In this article, we’ll take a look at some of the most important seasonal factors that you should consider when deciding to sell your home.
Spring

Spring is traditionally the most popular time of year to sell a property. It’s the season for new beginnings, when buyers spring into action (pardon the pun). Homes and gardens often look their best in spring too, which may drive up the sale price in some cases.

However, spring may not necessarily be the best time of year to sell for everyone, particularly if your property is an established home or located in a city or metropolitan area. Whilst spring may bring increased buyer demand, it may also mean many more property listings in the area your home is located. If there are many properties similar to yours on the market, that could mean lower prices.

Summer

If your home is located in a popular summer holiday destination, summer could be the best time of year to sell. Holiday-makers could potentially be your best market audience!

Properties that are particularly cool may also be more attractive from a selling point of view in summer. Depending on where your property is located, there may also be fewer properties on the market to compete with so it could help you to achieve your price. However, be careful about selling in December or January, when people are generally winding down and preparing to relax over the festive break and summer holidays. If your property is located in a city location, or its market audience is families with school-age children, there will be fewer buyers on the inspection circuit.

Autumn

Autumn is another popular time of year to sell, with auction activity usually red hot just before Easter. Many prospective home buyers hit the open house inspection circuit at this time of year, hoping to find a new home and get it settled before the cold weather arrives. Again, consider your location and check out what other properties are on the market to see how much competition you’re likely to encounter.

Winter

Your home’s key drawcards could influence when to sell. For example if it has an amazing fireplace or a fantastic underfloor heating system, it may be more appealing to buyers in winter. Likewise, if your property is in the snow-fields or an area that is popular for winter sports, winter could also be the best time to sell. West-facing properties tend to receive more sunlight around this time, and this could make them more appealing in winter than at other times of the year.

Another advantage of selling in winter is there may be fewer listings to compete against, which could drive up competition amongst buyers and lift prices, depending on the area where your property is located. Properties in popular locations often sell quickly all year round.

Don’t forget to consider market conditions

In addition to seasonal factors, it’s important to consider local property market dynamics, specifically supply and demand. If there is an oversupply of properties on the market, it may be best to wait it out until conditions change. The best option is to choose a time when stock levels of properties that are similar to yours are low.

If it’s a ‘buyer’s market’ as exists in Perth – a time when there are more properties available for sale than there is buyer demand – there may be no ‘best’ time of year to sell. It may even pay to rent the property out for a while until the market warms up.

Alternatively, if there’s not enough housing stock to meet demand and it’s a ‘seller’s market’ – as has been the case in Melbourne and Sydney – you’ll likely be able to negotiate harder and push up the price. Other influences such as new developments, changes to the first home buyer grant or stamp duty, and interest rate fluctuations can also affect supply and demand, so it’s worth talking to us about these factors.

Do your research and ask for advice

When it comes to selling your home, it’s best to take all of these factors into account, along with your personal circumstances. Your local real estate agent is a great source of information about when to sell, or you could ask us for a free market appraisal report. It’s always wise to do careful research when buying or selling a home, so please don’t hesitate to ask us for help. If you are looking to sell your home and purchase a new one, please speak to us about your finance options as we’re here to help you find the right loan for your financial circumstances and goals. We usually recommend that you try to sell before you buy if possible, so you know how much money you can budget for your next home purchase. However, if you do require bridging finance to tide you over, we can also help you with a competitive option. Please get in touch today – we’re always happy to help!What is the best time of the year to sell your home?

When it comes to smart money management, the key to success is to regularly assess your financial position – and that includes taking a good hard look at your mortgage. Here’s why refinancing every three years may help you save, and why you should check in with us today to ensure your home loan is still the right choice for you.
Refinancing every 3 years may help you to:

Secure a more competitive interest rate

Checking your home loan regularly gives you peace of mind that you’re getting the most competitive interest rate and that your financial needs are being met. With RBA rate movements, lender rate changes and new loan products coming onto the market all the time, it’s quite likely there’s a better option available if you’ve had your home loan for a while.

Access better features and save

A home loan health check is about reviewing your loan against your current financial situation and goals to ensure it still meets your needs and suits your objectives. As your circumstances change – perhaps you have a better job or have started a family since you took out your home loan – the loan features you need may change too. A different type of loan could potentially help you to save money and manage your finances better.

Access equity to build wealth

Accessing your equity could be a fantastic opportunity to build wealth for your future and refinancing to a new loan could allow you to do just that. If you’ve had your mortgage for a while, you’ve probably paid it down somewhat and your property could also have increased in value, so you may have some equity you could use to buy an investment property, or use to purchase shares or other investments.

You could also use the equity for other things you want. Perhaps you need a new car, a holiday, or would like to use the money to pay for your children’s education? Maybe you’d like to put the money towards some home renovations that could ultimately drive up the value of your property. Whatever your goals, we can explain whether refinancing and accessing your equity will help you to achieve them.

Consolidate debt

If you have several debts with high-interest credit facilities like credit cards or personal loans, you could potentially make things more manageable by refinancing and rolling your debts into your home loan. In this scenario, you’d access some of your equity and use it to pay off your other debts. The benefit is you only pay the home loan interest rate, rather than the higher credit card or personal loan rates – although your home loan repayments will likely rise somewhat, you could possibly make some savings if you make an effort to make extra repayments to pay back the amount you withdraw quickly. Talk to us and we’ll help you determine if refinancing to consolidate debt makes financial sense for you.

As your mortgage broker, we are experts at finding the right home loan to help you achieve your financial goals. We’ll check out your current home loan and if it no longer has that youthful vigor you need, see if we can find a better alternative! But first, we’ll nut out the figures and make sure refinancing is the right move forward for you financially. So if you’ve had your current home loan for three years or more, give us a call today for a home loan health check. We’d love to hear from you.How refinancing every three years could help you save

Making a fresh start in a new family home is an exhilarating experience. Maybe you’ve just welcomed a new addition to the family (congratulations!)? Perhaps your kids have moved out, so it’s time to downsize?

Maybe you’re craving a change of scenery, or you’ve scored a fantastic new job and now’s the time to upgrade your home too. Whatever the reasoning, buying your next family home is an adventure, and we’re here to help make the journey as smooth as possible. Here’s a quick rundown on common mistakes to avoid when buying your next family home.

Mistake # 1: Going it alone

When you decide to buy a new family home, one of the biggest decisions you’ll face is what to do with your old home. Do you sell the property and put the money towards your new digs, or do you turn it into an investment and rent it out? Do you get two mortgages, or refinance your current mortgage to buy the second property? What can you afford and what is best for your future? The questions can seem endless, but don’t worry, you don’t have to solve them all alone – we’re here to help!

Having a professional mortgage broker on your team will make the decision making process much easier. Remember, we have years of experience and access to hundreds of different loan products from Australia’s leading lenders. We can help you assess your financial situation and borrowing capacity to inform your decisions, and then find you a loan that’s exactly the right fit for your current personal financial circumstances and future goals

Mistake #2: Being short-sighted about the future

When the time comes to buy a new family home, it’s important to plan for your family’s future and to think about the kind of living arrangements you may require in the long-run. Often people try to fulfil their current needs, without giving too much thought to where they’ll be down the track. So, for example, if you plan to have three kids in six years, there’s little point buying a new home with just one extra room, as you’re likely to need four! Perhaps you’re a few years off retirement and won’t be needing a huge family home that requires a lot of effort to maintain? Whatever stage you’re at in life, it’s important to plan for what’s on the horizon and to make sure your new home marries with your actual needs.

Mistake # 3: Buying without doing your research first

You’ve bought before, so it’s easy to believe that you have a handle on the property market and don’t need to do any extensive research. But things change rapidly in the real estate world and it always pays to do some thorough research about where and what to buy next.

The goal is to buy a home that will appreciate in value over time and potentially be attractive to tenants if you ever decide to rent it out. You also have to make sure the property and neighbourhood meet your family’s needs, whether that be good schools for the kids, dog-friendly parks for young Fido, great access to public transport for your partner’s work commute, or catering for your needs in retirement. Before buying, make sure you get to know the neighbourhood intimately – research the crime levels, the quality of nearby schools, the transport options and proposed nearby developments, or other facilities you may need like hospitals or treatment centres. Ask us for a property report to help you get started.

Don’t forget to meticulously inspect the property, and to get building and pest inspections done before you put in an offer or bid at auction. We can often help you with referrals to reliable professionals, so please ask us.

Mistake # 4: Letting emotion cloud your judgement

It’s hard not to let your feelings overtake your better judgement when you do find a home that ticks all your boxes, but it’s important not to pay more than the property is actually worth. Compare recent sale prices of similar properties in the area to determine the correct price, and don’t be fooled for a second by clever home staging tactics designed to make you fall in love with the property and sign the contract on the spot!

Lastly, try not to be too sentimental about buying where you currently live. Another neighbourhood could provide you with a property with greater capital growth potential, or more home for your budget to better meet your future requirements and lifestyle.

Remember, we’re here to help!

If you’re ready to buy your next home, please get in touch. We’ll find you a personalised home loan solution, tailored to meet your particular financial circumstances and goals. As your mortgage broker, we can provide advice about everything from maximising your credit facilities to potentially keeping your current home as an investment property. Here’s to new beginnings! We’ll look forward to hearing from you soon. 

mortgage broker joondalup

As Sex and the City’s Carrie Bradshaw could tell you, there are many perks to apartment living, which makes them a fantastic investment option.

They offer people the ability to live close to work and exciting entertainment hubs, where many a social drink can be had within walking distance of home. After all, who wants to live out in the burbs when you can be in the heart of the action? Sure, you might not have your own patch of dirt to toil over, but unless you’re over the age of 60, gardening is overrated.

Indeed, apartments offer attractive rental yields and an entry point into the market in locations that might otherwise be unaffordable for investors. Last May, CoreLogic anticipated there would be 231,129 new units set for completion across the combined capital cities by April 2018. And with such a large supply of apartments, price drops seem likely, so you may very well be able afford your own version of Carrie and Big’s “heaven on 5th”. Here are some tips for choosing the right investment apartment, and when you do, we would love to help you find the right loan!

Location, location, location!

Location is king when choosing an investment apartment – nobody wants to live in a box in the boonies! Proximity to amenities such as public transport, healthcare, recreational facilities, childcare and schools will impact on the rental appeal of your investment and the rent you can get away with charging tenants. Apartments and units with great tenant appeal also tend to experience more reliable capital growth, so choosing the right apartment can help you profit both ways.

Do your homework

Knowledge is power! We recommend you thoroughly research an area before buying. Consider supply and demand for apartment living in the area and find out what are other apartments are renting and selling for. That way, you’ll have a sound understanding of what a given property is worth and the potential rental yield.

Consider your future tenants

Think about who your future tenants might be and what they are looking for in a home. Will they be like Carrie, and require a massive built-in wardrobe to house their Imelda Marcos-style shoe collection? Perhaps features like a parking spot in the CBD may be in particularly high demand. If you can anticipate your tenants’ needs, your apartment is more likely to be highly sought after.

Consider the ongoing fees

As Samantha would say, sky-high strata fees are “painful and unnecessary”. Before buying, calculate your net rental yield to estimate your likely return, factoring in the strata fees, interest repayments, insurance, taxes, rates and water charges. Lastly, before you sign on the dotted line, don’t forget to organise a strata inspection report, which will raise any red flags about the accounts and records of the property.

When you do find an investment apartment that ticks all your boxes, we can help you find you a home loan that fits like a glove. As your mortgage broker, we’ll help you get a competitive rate from one of Australia’s leading lenders and structure your investment property loan so that you get the most out of it – now and in the future. Happy apartment hunting!

How to Spot a Good Fixer-Upper
Buying to renovate and sell can be a lucrative investment strategy, allowing investors to potentially make a fast profit with minimal effort and expense. However, the key is to find the right fixer-upper – one that gives you a maximum increase in value for minimal expenditure. Cha-ching!

As your mortgage and finance broker, we love to pass on juicy tips that ultimately help you to use your property investment dollars wisely. So, how do you spot that diamond in the rough that will become your renovation goldmine? Well, it takes a good deal of detective work, a resourceful imagination and some logical reasoning when it comes to renovation spending. Right, time to channel Sherlock, folks!

Step 1: Narrow down your leads

Finding the right location is paramount for any property purchase. The aim is to target run-down properties in suburbs with solid growth potential. Ultimately, the property should be close to amenities such as schools, shops and public transport, but not so close to the train line that the front door rattles all night long!

If you’re buying for investment purposes, always remember your end-goal, which is to sell post-renovation. Research what’s in high demand in areas you’re interested in, as well as the value of renovated properties in the suburb. Searching for phrases like “renovator’s dream” and “deceased estates” in real estate advertisements will narrow down your options.

Step 2: Follow the clues and do your detective work

When you find a potential fixer-upper, you need to quickly develop a keen eye for detail. Research the neighbourhood thoroughly and investigate any external issues that could affect your investment. Is the area flood-prone? Is there a high crime rate that could impact upon liveability? Is there noise pollution? Lastly, consider any legal or heritage restrictions that could put a dampener on your renovation goals.

Once you have ruled out potential external glitches, it’s time to concentrate on the finer details and test out your powers of observation. Is the structure sound and are the roof, walls, doors and windows in good condition? Are the foundations strong? Are there any issues with the electrics and plumbing of the property? The last thing you want is to be paying through the roof for non-cosmetic upgrades. It’s a good idea to invest in a pre-purchase building inspection and study it with your trusty magnifying glass.

Step 3: Consider different scenarios and mastermind your makeover

Warning: this may require a good deal of imagination! Being able to overlook retro linoleum floors and garish wallpaper can be tricky, but keep in mind the golden rule of renovation: minimal effort, maximum returns. Cosmetic enhancements that will drive up the value of the property are what you want. Flaky paint, scruffy carpets, old cupboards and dated bathroom fixtures can all be upgraded with minimal effort and cost. Many experts recommend seeking out properties with older bathrooms and kitchens that can easily be renovated.

Also, it’s a good idea to consider the layout and convertibility of the property. Can you add value by playing with the dimensions? Can you knock down walls to create a more open-plan living space, or add walls to create new rooms? Can a puny window be transformed into a spectacular natural light portal? How could you revamp the garden?

A good sleuth knows when to trust their instincts, and if your gut is telling you you’ve found your fixer-upper, it’s time to speak to a reputable mortgage and finance broker like us about how to finance your property purchase and renovations.

Step 3: Close the case

Our final tip is to make sure you stay within budget once you’ve found your renovator’s dream. Don’t overspend on improvements, but don’t skimp on quality either. Spend time and money on renovations that will give you the best return on investment and make the property stand out to prospective buyers.

We hope you’ve found these tips for spotting a good fixer-upper handy. We can provide expert advice about obtaining finance for your property investments and renovations. We’ll analyse the thousands of home loan products out there and test them under our microscope to ensure they measure up. Please get in touch with our team today.

 

 


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