Archive for 'Articles'

Top 10 Quick and Affordable Ways to Add Value

When deciding which renovations to tackle prior to sale or a valuation (to release equity from your home), the most important thing to be aware of is which improvements will add the most “perceived value” to the property with the least expense.  These are the improvements that are immediately noticeable, as well as highly valued by your potential buyers, but can be done at a relatively low cost.

Here are the top 10 quick and affordable improvements that can be made ...

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How to get the banks to lend you the most money

How to get the banks to lend you the most money

In this issue we’ll talk about how to best increase your lending capacity and get every cent possible from the banks.  How much you can borrow will depend on your deposit, your spending habits, your equity in current property and your credit history, but there are actions you can take to give your application the best chance of success.

In a nutshell:

  1. Protect your credit file
  2. Reduce your credit card limits
  3. Prove stability
  4. Choose different lenders for each loan to avoid cross collateralisation
  5. Apply to different ...
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How to Minimise Your Risk when Buying ‘Off the Plan’

How to Minimise Your Risk when Buying ‘Off the Plan’

While buying off the plan can be profitable, in more recent times many an investor has been caught out by a falling market and an oversupply of product.  It’s important to note a valuer can only advise what the property is worth now, in the current market, and not what the property could be worth ‘on completion’ in nine, twelve or eighteen months’ time.  It’s the valuer’s responsibility to use comparable sales evidence to ascertain the current figure and they ...

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Property Valuation vs. Real Estate Appraisal

Property Valuation vs. Real Estate Appraisal

Valuations are sometimes disputed on the grounds that a real estate agent has provided an appraisal which is higher than the valuation figure.  Real estate agents are aiming to get the best price they can for their client (the seller).  This is their job.  Their appraisal often represents what they hope to achieve for the property if the right buyer comes along at the right time.

If the real estate agent is adamant that the property is worth more, ask them ...

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Tips for Selecting a Property Valuer

The following list details 10 helpful tips for selecting a property valuer.This list has been provided by Genworth Financial.  Scroll to the bottom for more about Genworth.

1. Conduct reference checks with other Lenders/Mortgage Insurers.
2. Check the valuation firm has adequate Professional Indemnity Insurance (and there are no unusual or restrictive conditions that could void the policy).
3. Review the company profile information (number of valuers and experience, background of directors/company, quality assurance processes, valuation systems used etc).
4. Ensure the property ...

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How to Think like a Property Valuer

How to Think like a Property Valuer

How to think like a Property Valuer.

Property valuation entails market analysis and comparison, combining a number of different methods and examining the relevant sales data.  Here, we’ve cut it down to the very basics, but for a more detailed explanation click here to download our free Property Valuation Toolkit.

1.  Do your research – This one’s important. Find out absolutely everything you can about the suburb the property is in. Property valuers are entering five or ...

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Before calling the Property Valuer, our Property Inspection Checklist will save you money

Before calling the Property Valuer, our Property Inspection Checklist will save you money

Believe it or not, it seems most Australians spend less than 62.5 minutes inspecting a property they intend to purchase.  A thorough inspection with our property inspection checklist will save you money on experts like property valuers.  Discard unsuitable properties before paying for the necessary property due diligence checks to be done, like ordering a property valuation.

A national survey commissioned by St. George Bank found the average Australian home buyer will inspect 12 properties before finally settling on a purchase.  However, once they ...

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The banks’ least favourite property types

The banks’ least favourite property types

Often there can be a good property deal to be had, but will finance be readily available? There are more and more types of properties that banks are either refusing to lend against or will only offer a relatively low Loan to Valuation Ratio (LVR). They’re known as “specialised securities” and it pays to know which they are before becoming too heavily invested. Check with your lender before spending too much time on due diligence for a property that might ...

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Do Pools Add Value?

Do Pools Add Value?

A common question our property valuers are often asked is “Do pools add value to a home or not?” and when we questioned the valuers we received some interesting responses. Location, type of pool and the socioeconomic status of the area all have a bearing on whether or not improving a property with a pool will lead to an increase in value.

Many people (often those with children) cannot understand how the addition of a pool would not add enormous value ...

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How to Avoid Decreasing the Value of Your Property – A Renovator’s Guide

How to Avoid Decreasing the Value of Your Property – A Renovator’s Guide

The internet has plenty of information about how to increase the value of your property, but there’s a lot to be learnt from studying how people have managed to decrease the value of their property.

The world of home renovations is an area often plagued by overcapitalisation. Homeowners often get carried away and overdo their renovations, making it difficult for their home to sell and even decreasing the property’s value. If the neighbours don’t have a helicopter landing pad and mini ...

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