Archive for buying a property

Settling into your new neighbourhood

Buying a new home often means moving to a new suburb or city. The change of location is often due to work relocation or for personal reasons. Whatever the reason for your move, it can be a little daunting finding the best ways to get to know the neighbourhood and have it start feeling like home.

Here are a few ideas to help break the ice:

ASK THE EXPERTS: A good place to start finding out what’s good in your new neighbourhood is to ask the real estate agent you purchased from. In the course of buying you would have talked to them about the big things like nearby schools, or transport routes. But they’re also a great resource to ask about everything from finding the best coffee and great parks and playgrounds, to the best local shops and restaurants.

HOOK YOURSELF UP: Spend some time finding and reading local newsletters, newspapers, community Facebook groups and supermarket community noticeboards. They’re a great place to find out about local events, organisations in need of volunteers, or even ongoing projects such as community gardens and working bees; all great places to meet people and start getting involved.

WALK THE WALK: Spend a weekend or two getting lost. Take to the streets on foot and just wander around. You’ll see much more than you would from the car, and be more likely to uncover the neighbourhood’s hidden gems – and you’ll quickly get your bearings for where everything is. If you’re in a large city you don’t know, you should do the same in your car, and you’ll quickly learn the best driving routes and how all the suburbs fit together.

TALK THE TALK: While you’re walking, stop and have a chat or even just a passing “hello” to any of your neighbours you come across out and about or working in their garden. It’s a relaxed way to break the ice. Once you’ve found that great café, make it your regular and get chatting to the staff, or strike up a conversation with local shop owners. Once you start finding a few local favourites you’ll start to meet some of the same faces each visit.

BE SEEN: Instead of heading next door to meet the neighbours, just be visible and approachable in and around your property. If you’re mowing the lawns or gardening in the front garden, just be aware of who’s around and give them a wave and a hello.

KNOCK ON THE FRONT DOOR: The best way to meet people is the most direct. It can be a little intimidating but it is a great way to meet your neighbours, especially those closest who you’ll see most often. If you want an icebreaker, take them a small gift like a cake, or invite them over for a drink.

AFTER SCHOOL: If you have school-aged children, get involved in school activities, sports and events. It’s a great way to help your kids settle in and you’ll quickly become part of the school community. The same is true for sports clubs.

For any of your real estate needs, contact your local professional, Harcourts The Property People on 4628 7444.

Which market are you in?

The average time it takes to sell a home indicates the market climate. It is very important that a seller understands the market they are selling within, and the average time it takes to sell a property.

There are three types of market climates:

1) A seller’s market
A seller’s market is where there are lots of buyers looking to purchase, and very few homes available for sale. This high demand for property is in the seller’s favour, as properties spend less time on the market and sale prices increase due to scarcity.

For sellers this is the perfect scenario, where they can be firm on price and the conditions of sale. That is, if a buyer is not prepared to pay the price with the required conditions, then buyer number two or three will.

2) A buyer’s market
A buyer’s market is in reverse. There are lots of homes for sale and very few buyers. This high demand for buyers is in the buyer’s favour, as properties stay on the market much longer, and sale prices reduce to compete for “ready-to-purchase” buyers.

Here the buyers are in a strong position. They know they can look for a price reduction and influence the conditions of the sale. They also know that should a seller not accept their offer, they can look at other suitable properties that will accept their terms.

3) A balanced market
A balanced market is where the numbers of buyers and properties for sale are about equal. Neither buyer nor seller has an advantage as properties are not languishing on the market, nor are they desperately being snaffled up.

You should ask your Sales Consultant about the current market in your location.

However, you should keep in mind that if you’re selling your property and then buying another in the same market, the current market climate is not as important. You are either buying and selling ‘high’ in the ‘seller’s market’, buying and selling ‘low‘ in the ‘buyer’s market’, or transacting in a balanced market. With any of these scenarios you are not disadvantaged as you are buying and selling within the same market climate.

Should you have any questions on your real estate needs, contact the professionals at Harcourts The Property People on 4628 7444.

To downsize or not to downsize…

Whether you are retiring, looking to free up some capital, or are simply wanting a smaller home, downsizing can offer some real advantages – but it also comes with some downsides. Following are many of the pros and cons of making this lifestyle change.

PRO: A SMALLER HOME MEANS SMALLER BILLS.
If you are looking to save on daily living costs, downsizing into an apartment or smaller home usually means you will save on basics such as heating costs, electricity, and house insurance.

CON: A DOWNSIZED HOME MAY MEAN DOWNSIZED FURNITURE.
Moving into a smaller space could cost you some extra money if your furnishings are too big for your new home, and you have to spend on new items such as lounge suites, dining tables and bedroom furniture.

PRO: DE-CLUTTERING IS THE ONLY OPTION.
If you (or others in your household) struggle to get rid of clutter, downsizing provides the perfect reason to get tough and minimise. Especially if you are moving into an apartment, storage space will be at a premium, so only the most important possessions should go with you.

CON: OUTDOOR SPACE AND HOBBIES MAY BE AFFECTED.
For those who love gardening or lounging around the backyard, downsizing can be challenging. However, many people cultivate impressive gardens on apartment balconies, and if this is something that is important to you, look for a home that fits the bill in terms of sunlight and space.

PRO: LESS HOUSEHOLD MAINTENANCE.
If you can’t wait to retire the lawnmower and hedge clippers, downsizing is a great option. Indoor chores such as vacuuming, dusting and cleaning will also be quicker and easier in a smaller home, freeing up your time for other activities.

CON: LIFESTYLE CHANGES MAY BE HARD TO ADJUST TO.
Moving from a large family home to an apartment or a smaller home can present some major changes. You may not be able to have family or friends to stay over, hosting large events may be difficult, and new neighbours in closer proximity could prove challenging.

PRO: RELEASE YOUR CAPITAL.
Many people have the majority of their savings tied up in the property they are living in. Downsizing can offer the opportunity to free up money that can then be used to diversify investments, take a dream holiday, or simply provide more cash flow for daily living.

Should you need any real estate assistance, Harcourts The Property People and Harcourts Lifestyles are here to help. Contact us today on 4628 7444 or 4623 5570.