What You Need to Know About Buying an Apartment

While buying an apartment in an established block or complex takes a lot of the guess work out of what living in a particular apartment will be like, as opposed to buying off the plan [What to Look For When You Buy a House and Land Package or Off the Plan], it still raises other questions that you’ll need to answer before buying.

Strata developments have strata managers, strata fees and sinking funds and you need to be aware of the condition of the entire building.

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Three Things to Consider Before Renovating Your Home or Investment Property

As we discussed in a previous post [What You Should Know About Buying a Knockdown Rebuild], sometimes finding the best home in the best area is not always feasible, whether it’s due to your budget or just a lack of suitable homes that are on the market.

In this case, you may look for an older home that you can renovate to better suit your needs later. If you decide to go down that route, however, there are things to keep in mind.

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What You Should Know About Buying a Knockdown Rebuild for Property Investment

It’s not always easy to find the best house in the best location, which is why it’s always wiser to look for the worst house in the best location.

Buying a knockdown rebuild (known as a KDR), essentially means buying a property with the explicit intention to knock it down and build a new dwelling on the land.

Sounds simple enough, but there are still many things to consider before purchasing a home simple to demolish it. Continue reading “What You Should Know About Buying a Knockdown Rebuild for Property Investment”

Why You Should Review Your Home Loan Each Year

Newcastle, Lake Macquarie, Hunter Buyers Agent - property buyer and property investment - review your mortgage regularly

Most mortgage holders haven’t changed their home loan in the last five to 10 years, even though their circumstances have most definitely changed in that time.

Largely that’s because there’s the perception that refinancing is a difficult process or because people think the deal they got at the time was good — it it ain’t broke, etc, etc, etc. The truth is that banks will readily increase their rates and let you know via email or their app and you can do the same to them! Continue reading “Why You Should Review Your Home Loan Each Year”

What to Look For When You Buy a House and Land Package or Off the Plan

New house and land packages in Newcastle, Lake Macquarie, real estate buyers agent and investment property training

Buying a brand new home often means signing up to a house and land package, or if you’re buying into a townhouse or apartment complex, buying off the plan.

In both instances, however, it’s not quite as simple as it sounds, as no two house and land packages or off the plan purchases are ever the same.

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Get into Property with Friends Through Fractional Investing

How DomaCom and Fractionional Investment works for property investors to buy shares in a property in Newcastle, Central Coast or anywhere - Newcastle Buyers Agent

With tighter prudential lending rules, people wishing to get onto the property ladder may find it harder than it was 12 months ago. (They might also find the high property prices in most Australian states a barrier, too.)

But a number of new fractional investment platforms aim to make it easier for investors to start a property portfolio and these options are available through an Australian company that’s listed on the ASX!

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Purchase Negotiation and Settlement

Once you’ve defined your search criteria and discovered great opportunities and then refined your list the next stage is purchase negotiation. Vendor’s sales agents are often skilled in the art of urgency and compression which means they’re total focus is on highest price and quickest sale, but not always in that order. 

It’s good to have someone who can change the pace and begin negotiations based on your circumstances.

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Property Evaluation fine tunes the property buying funnel

A property sales process tends to move quickly particularly when you are buying from an experienced real estate sales agent. It can also happen if you have all your finances and property checks in order and are able to move quickly yourself to secure a property.

The key consideration at this stage is that you find the best property that suits your needs and budget and that matches your criteria set in your goals!

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Property Inspections, vetted by a buyers agent

The Internet is NOT the Real World, it’s a Sales Agents World

If you’ve ever looked for property on the internet, then you know that very often things are not always what they seem. Bedrooms that appeared light and spacious online often turn out to be dark and cramped; lush gardens overgrown; that short distance to the local shops: a ten minute drive on a street signposted at 100km/hr.

Inspecting a property, especially if you intend to live in it, is an important part of the property buying process. Continue reading “Property Inspections, vetted by a buyers agent”