Main > Property > Buying
Owner-building: save money, cut pollution, and create an intelligent machine: it makes power, treats sewerage, collects and reuses water, and gives you food. Then you only need to pay for telecommunications.
kellyjones00 (593)
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Main > Property > Buying
Owner-building is much cheaper than buying an established house, if you have the skills. Even better if you're an electrician or plumber (but not an accredited builder).
kellyjones00 (593)
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Main > Property > Buying
Land: the most important are aspect, soil structure, and drainage. Also check the council office for any building restrictions.
kellyjones00 (593)
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Main > Property > Renting
On the rental agreement, make sure you list all of the damage to the property (eg, marks on walls and floors), so that you will be able to get your bond back when you leave. Otherwise, unscrupulous owners will try to charge you for damage that was already there when you moved in.
Kevin Solway (173)
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Main > Property > Buying > Auctions
When attending an auction, expect the quoted price to be at least 20% and as much as 50% below what the property will sell for. It is the intention of auctioneers to get as many people to the auction as possible, to tempt you to spend more than you intended, and to increase the perceived demand for the property.
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Main > Property > Buying > Auctions
Always make repeated visits to the property you want to buy. Preferably go with the builder that you might use for any work that needs doing.
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Main > Property > Buying > Auctions
Always set a limit on how much you are prepared to bid, and do not even think about exceeding it. If you can't resist the temptation to keep going, simply walk out of the room.
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Main > Property > Buying > Auctions
Pay for a full survey - even though you may not end up winning the auction. It could save you a great deal of pain if you uncover hidden horrors like subsidence, or structural problems.
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Main > Property > Buying > Auctions
On the morning of the auction, check that the property is still available. They can be withdrawn or sold privately at the eleventh hour.
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Main > Property > Buying > Auctions
If you are desperate for the property you can make an offer before the auction. Most vendors and auctioneers will happily accept if it is high enough.
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Main > Property > Buying > Auctions
Before you start bidding on any property, have a realistic understanding of its true market value, by looking at similar properties in the area. For a fee, your lending institution or a registered valuer can give an opinion of value.
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Main > Property > Buying > Auctions
Practice. Attend as many auctions as possible to familiarise yourself with the procedures, rules and regulations and take special note of the strategies implemented by the winning bidder.
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Main > Property > Buying > Auctions
Have your finances in order. The winning bid at an auction is a binding contract and, if you are successful, your finances must be in order before auction day.
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Main > Property > Buying
Sometimes it is better to rent. If you have to take out a big loan to buy a property, you will effectively be paying rent to the bank for a great many years.
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Main > Property > Selling
Selling a house: Make your house pleasant to be in, so that the prospective buyer will have a positive experience. Use some kind of air-freshener (don't over-do the fragrance), and make everything neat and tidy.
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Main > Property > Selling
Paint: A coat of paint and a tidy garden can add many thousands to the value of a house.
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Main > Property > Buying
If you have the opportunity, buy a house that needs painting for $20,000 less rather than buy a freshly painted house for $20,000 more. That is, don't pay the earth for a coat of paint.
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Main > Property > Selling
First impressions: Make sure visitors can easily read your house number. Pay particular attention to the front door. Polish the door fixture so it gleams. If the door needs refinishing or repainting, make sure to get that done. And make sure that the key works properly in the lock, as you don't want to frustrate people before they enter your house.
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Main > Property > Selling
Plants: Plant yellow flowers or group flower pots together. Yellow evokes a buying emotion. Marigolds are inexpensive.
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Main > Property > Selling
Avoid clutter: The house should not be devoid of furniture, plants, and wall-hangings, but it should definitely not be cluttered with all the things of your life. The potential buyer needs to be able to see what potential the space might have. The house should look welcoming, but at the same time it should look like nobody lives there.
Kevin Solway (173)
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Main > Property > Selling
Features: Try to enhance the best external features of the house, and minimize or improve the worst features.
Kevin Solway (173)
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Main > Property > Selling
Kitchen and bathroom: These need to be in clean and attractive condition. Women in particular can be very choosy when it comes to these areas.
Kevin Solway (173)
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Main > Property > Selling
Disconnect your emotions: Consider that you have already moved out of the house, and that it is now your professional job to sell it.
Kevin Solway (173)
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Main > Property > Selling
Leaks: Make sure there are no roofing or plumbing leaks. If there are, don't be surprised to hear from the buyer's lawyers down the track.
Kevin Solway (173)
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Main > Property > Finance
Find a loan with the lowest fees and rates. Use independent online software to see how much interest you will pay over a given period. You can also use online software for quick loan pre-approval.
Most mortgagees also require a 'security property', which is another property that can be sold in the event of the mortgagor (you) not repaying the loan. If you ask another person to guarantee your ability to repay the loan, be truthful, so they can make the right decision.
kellyjones00 (593)
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Main > Property > Finance
Sometimes unions and superannuation funds offer discounts on home loans offered by banks they associate with.
kellyjones00 (593)
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Main > Property > Finance
Some general tips:
- A fixed-rate loan is a more reliable indicator of the total amount paid in interest.
- Opt for a loan that doesn't penalise early repayment, just in case a relative dies and gifts you a lump sum.
- The lender may also offer discounts on home or builders insurance, or bank accounts.
- Don't go with a small shop-corner lender.
kellyjones00 (593)
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Main > Property > Buying > Auctions
Properties sold by mortgagees foreclosing or by councils recovering unpaid rates can be much, much lower than the market price. This is good for the buyer, but bad for the one trying to repay the debt. You might not want to own such a property.
kellyjones00 (593)
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Main > Property > Buying
Property prices rarely reflect functionality but what other properties in the area are selling for. Do you really want to pay for, e.g. ostentatious design, fitting-in, etc.?
kellyjones00 (593)
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