Category Archive: Property Investment
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Property owners worried about valuations and rate rises after South Australian floods
Leave a CommentIn the wake of devastating floods that impacted South Australia's Mid Murray region, property owners find themselves facing a new set of challenges. While trying to recover and rebuild, they now worry about the potential increase in property valuations and subsequent rises in council rates. Despite their homes being rendered uninhabitable, the booming real estate market threatens to inflate their property values, leaving them burdened with higher expenses. In this article, we will explore the concerns of flood-affected property owners and provide some valuable tips to navigate these uncertain times.
Sue Dowden, the owner of a riverfront shack in Younghusband, shares her worries about the valuation of her property. Although her home has been uninhabitable since December 2022, she fears that its value may still increase in line with the booming market. Ms. Dowden emphasizes that her property now holds little more than land value, lacking basic amenities and infrastructure. This raises questions about the accuracy of property valuations, as many were conducted while the affected properties were still submerged.
Chris Carter, a certified practicing valuer, points out that the increase in council rates is not the sole financial burden faced by property owners. He predicts that some owners may be unable to afford rebuilding or lack proper insurance coverage, leading to a potential influx of properties on the market. When supply surpasses demand, property values tend to decline, putting further strain on the affected homeowners.
Concerns over the accuracy of property valuations echo throughout the flood-affected region. Many property owners argue that the valuer-general conducted blanket valuations without considering the specific circumstances of each property. Sue Dowden encourages fellow homeowners who require demolitions to contact the valuer-general and request a reduction in valuation to alleviate their rate liability. It is crucial to address these issues promptly and seek fair valuations that reflect the current state of the properties.
- Communicate with the Valuer-General: Reach out to the valuer general's office to voice your concerns and provide any necessary information regarding the impact of the floods on your property. Request a reassessment if you believe your valuation does not accurately represent its current condition.
- Seek Professional Assistance: Engage a certified practicing valuer or property expert who can assess your property's current value in light of the flood damage. Their expertise can provide you with valuable insights and evidence to support your case.
- Understand the Market: Stay informed about the local real estate market trends, especially regarding flood-affected areas. This knowledge will help you navigate discussions with the valuer-general and make informed decisions about your property's future.
- Explore Insurance Options: If you haven't already, consult with insurance experts to ensure you have adequate coverage for flood-related damages. Understanding your insurance policy and its provisions will help you better protect your property and financial interests.When it comes to finding reliable insurance brokers, Property Mates is here to help. They offer a wide range of insurance brokers who are highly trusted and have received positive feedback from satisfied clients. In particular, two insurance brokers that come highly recommended are Inspired Insurance Services and Support Sure Insurance. Both companies cater to all states and specifically focus on property insurance, ensuring that they understand the unique needs and challenges faced by property owners.
To explore the expertise of these insurance brokers and discover more options, you can visit our experts here. They provide a comprehensive list of insurance experts who can assist you in finding the best insurance coverage for your property. By working with trusted insurance brokers like Inspired Insurance Services and Support Sure Insurance, you can have confidence that they have the knowledge and experience to guide you in making informed decisions that protect your property.
Remember, having the right insurance coverage is essential for safeguarding your property and mitigating potential financial risks. By consulting with reputable insurance brokers, such as those recommended by Property Mates, you can ensure that your property is adequately protected in the event of any unforeseen circumstances.
The aftermath of the South Australian floods brings forth new concerns for property owners, who now face potential increases in valuations and council rates. It is crucial for these individuals to actively engage with relevant authorities, such as the valuer-general's office, to seek fair assessments that reflect the current state of their properties. By staying informed, seeking professional advice, and understanding market dynamics, property owners can better navigate this challenging situation.
In times like these, community support and solidarity play a significant role. It's essential for flood-affected property owners to connect with each other, share experiences, and provide mutual assistance. Joining local support groups or online communities can provide valuable resources, emotional support, and guidance throughout the recovery process.
Additionally, advocacy and collective action can make a difference. Engaging local representatives can amplify the concerns of flood-affected property owners and potentially influence policy changes or reassessments. By coming together and raising awareness about the unique challenges faced by these property owners, it is possible to garner support and foster a more equitable and compassionate response.
Lastly, amidst the challenges, it's crucial to prioritize self-care and well-being. Rebuilding and navigating complex bureaucratic processes can be overwhelming. Taking breaks, seeking emotional support, and maintaining a positive mindset are all essential for resilience during this journey. Remember, you are not alone, and reaching out for help when needed is a sign of strength.
Together, as a community, we can support those affected by the floods and work towards rebuilding their lives and communities. By advocating for fair valuations, engaging in dialogue with authorities, and fostering a sense of unity, we can make a positive impact on the lives of flood-affected property owners. Let us strive to create a future where their concerns are heard, their needs are met, and their resilience is honored.
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Victoria’s controversial tax reforms: Shaking up property investors and big businesses
Leave a CommentIn a bold move to tackle its mounting COVID-19 debt, the Victorian government recently unveiled a 10-year fiscal repair plan as part of the 2023-24 Victorian Budget. However, the proposed tax reforms have left property investors and big businesses seething with fury.
With the introduction of a COVID-19 debt levy and significant changes to land tax, the burden of repayment falls heavily on these groups. The repercussions are far-reaching, raising concerns about the rental market, housing supply, and the overall economic climate in Victoria.
One of the most controversial aspects of the budget is the reduction of the land tax threshold from $300,000 to a mere $50,000. This means that an estimated 860,000 Victorian property owners, including investors, holiday home owners, and commercial property holders, will be hit with an additional $4.7 billion in taxes over the next four years. Shockingly, of these 860,000 owners, 380,000 have never been subjected to land tax before. The implications of this move are twofold: it not only risks a shortage of rental accommodation but also places upward pressure on rents.
Unsurprisingly, the proposed land tax increases have faced fierce opposition. The Real Estate Institute of Victoria (REIV) has been quick to criticize these measures, arguing that they will only exacerbate the rental crisis and fail to address the shortage of affordable housing.
Quentin Kilian, the CEO of REIV, argues that the government's focus on short-term solutions unfairly targets everyday investors and Victorian renters, while neglecting the underlying housing supply issues facing the state. Kilian warns that the higher land taxes will drive out small investors, leading to a decrease in supply and a subsequent rise in rental prices.
While the government aims to repay its debt, it seems to have overlooked the unintended consequences of these tax reforms. For commercial property owners, the budget means paying additional taxes without acknowledgment of the rent relief provided during lockdowns. This lack of recognition for their efforts to support small business tenants has left many feeling aggrieved and disregarded.
Amidst the backlash, the budget also brings a glimmer of hope in the form of stamp duty reforms for commercial and industrial properties. Starting in mid-2024, the plan is to gradually eliminate stamp duty and replace it with an annual property tax. This move is projected to inject an impressive $50 billion into the state's economy.
The Property Council of Australia has praised this initiative, acknowledging the potential for increased economic activity and investment in Victoria. However, the transition process and the potential impact on property owners remain subjects of debate.
While the tax reforms aim to alleviate the state's financial burden, the economic outlook remains a mixed bag. Victoria anticipates commendable growth rates of 2.75% in the current fiscal year, but the following year's growth is expected to drop to 1.5%. Nevertheless, the government projects a return to an operating surplus by 2026-27. However, this positive development is shadowed by the increase in the state's net debt, which is projected to reach staggering levels by 2026-27.
As for infrastructure, the budget introduces various projects and commitments, including road upgrades, railway expansions, and investments in healthcare and education. However, the pause on certain projects pending a federal review has sparked concerns about delayed progress and the overall impact on the state's infrastructure development.
Victoria's 2023-24 Budget has triggered a firestorm of controversy, particularly among property investors and big businesses. The reduction of the land tax threshold and the introduction of a COVID-19 debt levy have raised valid concerns about the rental market, housing supply, and the long-term sustainability of the property market.
While the phased elimination of stamp duty for commercial and industrial properties offers a glimmer of hope, questions regarding the fairness of the tax burden and the potential unintended consequences remain. As the budget's measures unfold, policymakers must strike a delicate balance between economic recovery, housing affordability, and the interests of property investors and businesses to ensure a prosperous and equitable future for Victoria.
Tips for property investors and businesses:
- Stay Informed: Keep a close eye on updates and developments regarding the tax reforms and their impact on the property market. Stay informed about any changes or adjustments that may affect your investment strategy.
- Diversify Your Portfolio: Consider diversifying your property portfolio to minimize the impact of the land tax shake-up. Explore opportunities in different regions or property types that may be less affected by the tax changes.
- Seek Professional Advice: Consult with a tax advisor or financial planner who specializes in property investments. They can provide valuable insights and help you navigate the complex tax landscape, ensuring that you optimize your financial strategies within the new tax framework.
- Review Rental Agreements: With the potential for upward pressure on rents, review your rental agreements and ensure they align with market rates. Stay competitive to attract and retain tenants while also maintaining a fair return on your investment.
- Explore Alternative Investments: If the land tax reforms pose significant challenges to your property investments, consider exploring alternative investment avenues. Look into other sectors or asset classes that may offer attractive returns and tax advantages.
- Engage in Advocacy: Join industry associations and advocacy groups to collectively voice your concerns and influence policymakers. Participate in discussions, contribute to research, and engage in constructive dialogue to ensure that your interests as a property investor or business owner are represented.
- Plan for the Long Term: Despite the uncertainties surrounding the tax reforms, maintain a long-term perspective in your investment strategy. Keep sight of the broader economic trends and the potential for recovery and growth in the property market over time.
By staying proactive, informed, and adaptable, property investors and businesses can navigate the challenges presented by the tax reforms in Victoria's 2023-24 Budget. While the road ahead may be uncertain, strategic decision-making and a focus on long-term goals can help ensure continued success in the ever-evolving property landscape.
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Housing affordability in Australia: A challenge for migrants rising through the years
Leave a CommentHousing affordability in Australia has become an increasingly pressing issue, with rising interest rates, soaring property prices, and a challenging home buying process. It can be a daunting task for anyone, but for migrants, it can present a unique set of challenges.
Imagine a scenario where a newly arrived migrant is unfamiliar with the local real estate market, struggling to understand the complex process, and facing language barriers that make it difficult to communicate effectively. They may find themselves overwhelmed, searching everywhere for recommendations and guidance, from friends and family members to Facebook groups and Gumtree. This is where innovative solutions like Property Mates come into play, aiming to address the specific needs of migrants in their quest for affordable housing and simplify the home buying process.
Australia's housing affordability crisis is a complex issue rooted in several factors and migrants often face the double burden of limited financial resources and the high cost of housing in Australia. Rising interest rates and soaring property prices have made homeownership seem like an unattainable dream for many.
The pressure to secure suitable and affordable housing becomes even more critical as migrants strive to establish themselves in a new country, often balancing employment, cultural adjustments, and building a new support network. The complexities of the home-buying process can feel overwhelming, requiring expertise and guidance that may be difficult for migrants to access.
The process of buying a property in Australia can be daunting and overwhelming, even for native Australians. For migrants, who may lack familiarity with the local market, legal requirements, and cultural nuances, the challenges can be even more significant. Language barriers, limited social networks, and unfamiliarity with the various steps involved in purchasing a property can further complicate the process for migrants.
Property Mates is an innovative aggregator platform that simplifies the home buying process and provides tailored support to migrants. It offers a range of advantages:
- Simplified Guidance through a Wizard: Property Mates provides a user-friendly wizard that guides migrants through the step-by-step process of buying a property. This interactive tool ensures that migrants have a clear understanding of each stage and can progress confidently.
- Access to Multiple Experts: With Property Mates, migrants can book multiple experts or choose a single expert who can guide them through the home buying journey. Experts such as buyer's agents, mortgage brokers or loan experts, lawyers, conveyancers, quantity surveyors, insurance brokers, and more, are available on the platform to provide specialized assistance.
- Tailored Recommendations: Property Mates takes into account migrants' specific budget and preferences when suggesting affordable housing options. By leveraging the expertise of professionals on the platform, migrants receive personalized recommendations that align with their financial capabilities.
- Financial Planning Assistance through our experts: Property Mates encourages migrants to seek financial planning assistance to better understand their budget, savings, and mortgage options. By connecting with financial planners who specialize in working with migrants, individuals can gain insights into optimizing their finances and making informed decisions.
- Property Investment Opportunities: Property Mates recognizes that some migrants may be interested in property investment. The platform can connect individuals with experts who specialize in investment properties, providing guidance on suitable locations, rental yields, and long-term growth prospects. This enables migrants to consider property investment as a means to build wealth and secure their financial future.
- Comprehensive Support: Property Mates ensures that migrants have access to a wide range of experts who can address their unique needs. Buyer's agents assist in property search and negotiation, mortgage brokers provide guidance on obtaining suitable loans, lawyers handle legal aspects, conveyancers facilitate smooth property transactions, quantity surveyors offer insights on property value, and insurance brokers provide coverage recommendations.
In conclusion, the housing affordability crisis in Australia poses a significant challenge for migrants seeking to establish themselves in their new country. However, innovative solutions such as Property Mates, an aggregator platform, are stepping forward to simplify the home buying process and provide valuable support to migrants.
Property Mates offers a range of advantages, including simplified guidance through a user-friendly wizard, access to multiple experts specializing in buyer's representation, mortgage brokering, legal assistance, conveyancing, quantity surveying, insurance brokerage, and more. By consolidating these professionals on a single platform, migrants gain access to tailored recommendations based on their budget and preferences.
By offering comprehensive resources and support, Property Mates empowers migrants to navigate the Australian real estate market with confidence and make informed decisions about their housing options. Through these initiatives, migrants can overcome the hurdles they face and find affordable, suitable housing that meets their needs.
As the housing affordability challenge continues to impact migrants, it is crucial to foster innovative solutions and platforms like Property Mates. By addressing the unique needs of migrants and providing specialized guidance, the pathway to affordable homeownership becomes more accessible. With continued efforts to support migrants in their housing aspirations, we can work towards a more inclusive and equitable real estate landscape in Australia.
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Why homeowners in Australia shouldn’t worry about interest rate increases & housing prices.
Leave a CommentAre you a homeowner feeling the pinch of recent interest rate increases? Do you worry about being forced to sell your property? According to experts, most homeowners will weather the storm, and those who do sell may still get a good price in the current market. Keep reading to find out why.
Homeowners manage higher interest rates well
Despite 10 consecutive interest rate rises over the past year, the current level of interest rates is still below the stress point for most mortgage holders. According to a survey conducted by McCrindle Research, 50% of mortgage holders have experienced increased stress, but the majority are managing higher repayments quite well. They are cutting back on leisure and social activities, taking on additional work, or renting out a room to generate extra income. Homeowners have large savings buffers built up through the pandemic, and unemployment remains very low.
If you're a homeowner feeling the pinch of higher interest rates, there are a few things you can do to ease the burden. Consider refinancing your mortgage to a lower interest rate, which can save you thousands of dollars over the life of your loan. You can also talk to your lender about extending the loan term to reduce your monthly repayments or switching to an interest-only loan temporarily to give yourself some breathing room. If you're struggling to make ends meet, don't be afraid to seek assistance from a financial counselor or advisor.
Low listings and increased demand support housing prices
The lack of motivated sellers is likely a key factor that has supported housing prices, especially with the surge in demand from overseas migration and an extremely tight rental situation. CoreLogic's home-value index for April shows that Sydney house prices increased by 1.3 percent during the month (April 2023), and Melbourne, Brisbane, Adelaide, and Perth have also moved to the recovery phase of the cycle after bottoming out in the past two months.
If you're in the market for a new home, be prepared to act quickly and decisively. With low listings and high demand, properties are selling fast and competition is fierce. Consider getting pre-approved for a mortgage so you can move quickly when you find the right property. It's also a good idea to have your finances in order and be prepared to make a strong offer. Don't forget to factor in additional costs such as stamp duty and legal fees when budgeting for your new home.
Widespread mortgage default unlikely
The portion of borrowers falling behind on their mortgage repayments, which generally trigger distressed selling, remains low at just 0.4 percent of all loans based on APRA data. In order for a widespread mortgage default to occur, unemployment will have to rise to around 5 percent. Currently, Australia's unemployment rate is at a near-five-decade low of 3.5 percent, so we're a long way away from this scenario. Even if homeowners are forced to sell, they would likely get a good price in the current market due to a shortage of listings and strong competition.
If you're concerned about falling behind on your mortgage repayments, there are several steps you can take to protect yourself. Make sure you have adequate insurance coverage, including income protection insurance in case of job loss or illness. Consider creating a budget to help you manage your finances, and prioritize your mortgage repayments over other expenses. If you're struggling to make ends meet, talk to your lender about your options before you fall behind on your repayments. Remember, a default on your mortgage can have serious consequences for your credit score and future borrowing opportunities.
Final thoughts:
Homeowners in Australia have largely managed the recent interest rate increases, and the housing downturn reversed faster and earlier than expected. Low listings and increased demand support housing prices, while a widespread mortgage default is unlikely. If you're a homeowner feeling the pinch, take comfort in knowing that most mortgage holders are managing well and that even if you have to sell, you may still get a good price in the current market.
Overall, if you're a homeowner in Australia, it's important to stay informed about the state of the housing market and the economy. Keep an eye on interest rates and economic indicators, and be prepared to adapt if conditions change. With the right approach and a little bit of luck, you can weather the storm and come out ahead in the current market.
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7 Essential tips for a smooth interstate move in Australia
Leave a CommentMoving to a new state in Australia can be an exciting adventure, but it can also be a daunting task. There are many things to consider before making the move, and careful planning is essential to ensure a successful transition. In this blog post, we'll discuss some tips and considerations for interstate migrating to Australia.
Research the state you're moving to.
When researching the state you're moving to, consider the cost of living. This includes the cost of housing, groceries, transportation, and utilities. Look for information on the average salary in the area you're moving to, as this will help you determine whether you can afford to live there comfortably.
Job opportunities are another important factor to consider when researching the state you're moving to. Look for job openings in your field and consider reaching out to recruiters or potential employers before making the move.
Schools are also an important consideration if you have children. Look for information on the quality of schools in the area you're moving to, including test scores, graduation rates, and reviews from other parents.
Finally, the climate is an important consideration, particularly if you're moving from a different climate zone. Research the weather patterns in the area you're moving to and consider how they might impact your lifestyle
Create a budget
When creating a budget, it's important to consider all of the expenses associated with the move, including the cost of hiring a removalist, the cost of travel, and any expenses associated with setting up your new home. Some additional expenses to consider include:
- Temporary accommodation: If you're not able to move directly into your new home, you may need to budget for temporary accommodation, such as a hotel or short-term rental.
- Storage: If you're not able to move all of your belongings into your new home right away, you may need to budget for storage fees.
- Cleaning and repairs: You may need to budget for cleaning and repairs in your old home before you move out, or in your new home before you move in.
By considering all of these expenses and creating a detailed budget, you can avoid overspending and ensure a smooth transition to your new home.
Sell or donate unwanted items
Selling or donating unwanted items is a great way to reduce the cost of the move and declutter your home. Some tips for selling unwanted items include:
- Price items competitively: Do your research to find out what similar items are selling for, and price your items competitively to attract buyers.
- Advertise online: Use online marketplaces like Facebook Marketplace or Gumtree to advertise your items for sale.
- Host a garage sale: Hosting a garage sale is a great way to sell multiple items at once and make some extra cash.
When donating items, consider donating to charities that support causes you care about. Some charities will even arrange to pick up items from your home, making it easy and convenient to donate.
Hire a reputable removalist
When hiring a removalist, it's important to choose a reputable company with experience in interstate moves. Some tips for choosing a removalist include:
- Check reviews: Look for companies with good reviews and ask for references from past customers.
- Get a written quote: Ask for a written quote from the removalist, detailing the cost of the move and any additional fees or charges.
- Check insurance: Ensure that the removalist has insurance to cover any damage to your belongings during the move.
- Consider additional services: Some removalists offer additional services, such as packing and unpacking, which can save you time and stress.
By taking the time to choose a reputable removalist, you can have peace of mind knowing that your belongings will be well-cared for during the move.
Notify relevant parties of your move
Before making the move, it's important to notify relevant parties of your change of address. Some additional parties to notify include:
- Government agencies: Notify government agencies, such as ATO and Medicare, of your change of address.
- Insurance companies: Notify your insurance companies, including health insurance, car insurance, and home insurance, of your change of address.
- Subscription services: Notify subscription services, such as magazines or newspapers, of your change of address to ensure that you continue to receive your subscriptions.
By notifying all relevant parties of your change of address, you can avoid missing important mail and ensure that your information is up-to-date.
Get to know your new community
Getting involved in your new community is a great way to meet new people and feel more connected to your new home. Some tips for getting involved in your new community include:
- Attend local events: Look for local events, such as markets or festivals, and attend them to meet new people and get a feel for your new community.
- Join local groups and clubs: Join local groups and clubs that share your interests, such as a hiking group or book club.
- Volunteer: Volunteering for a local charity or organisation is a great way to meet new people and give back to your new community.
By getting involved in your new community, you can also learn more about the area and its culture, which can help you feel more at home. You can also discover new places to eat, shop, and explore.
Research and understand the differences in laws and regulations
Different states in Australia have different laws and regulations. Before moving interstate, it's important to research and understands the differences in laws and regulations in your new state, especially if you're moving from overseas.
Some key areas to research include:
- Driver's licenses: Different states have different requirements for driver's licenses. Research the requirements in your new state and ensure that you have the necessary documentation.
- Employment laws: Employment laws, such as minimum wage and working hours, can vary between states. Research the employment laws in your new state to ensure that you're aware of your rights and obligations.
- Housing laws: Housing laws, such as tenancy laws, can also vary between states. Research the housing laws in your new state to ensure that you understand your rights and obligations as a tenant or homeowner.
By understanding the differences in laws and regulations between states, you can ensure that you're prepared for any changes and avoid any legal issues.
Final thoughts
In summary, interstate migrating to Australia can be a daunting task, but with careful planning and preparation, it can also be a smooth and exciting transition. By creating a budget, selling or donating unwanted items, hiring a reputable removalist, notifying relevant parties of your move, getting to know your new community, and researching and understanding the differences in laws and regulations, you can ensure that your move is successful and stress-free.
In addition to the seven essential tips outlined above, it's also important to give yourself plenty of time to plan and prepare for your move. Start by creating a timeline and to-do list to help you stay organized and on track.
It's also a good idea to research the cost of living in your new state, including housing, utilities, and other expenses. This can help you create a realistic budget and avoid any financial surprises down the road.
Finally, don't be afraid to ask for help. Moving interstate can be a stressful and overwhelming experience, but with the support of family, friends, and professionals, you can make the process easier and more manageable.
By following these tips and giving yourself plenty of time to plan and prepare, you can ensure a smooth and successful interstate move in Australia. So take a deep breath, stay organized, and enjoy the exciting journey ahead!
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10 Home Improvement Ideas to Increase Your Property Value
Leave a CommentHome improvement is one of the best ways to increase your property value in Australia. Whether you’re looking to sell or just wanting to upgrade your home, there are plenty of home improvement ideas that can help boost your property value. From upgrading your kitchen to installing energy-efficient features, these 10 home improvement ideas are sure to increase your property value.
1. Upgrade your kitchen. A modern kitchen with stainless steel appliances and a fresh coat of paint can add thousands of dollars to your property value. Upgrade your kitchen to make it look stylish and modern, adding stainless steel appliances and resurfacing the cabinets with fresh paint. This will give your kitchen a high-end look and make it much more appealing to buyers.
2. Add an outdoor living space. Create a garden, patio or deck to add to the look and feel of your home. Adding an outdoor living space will extend your living area and make your home more appealing to buyers. Consider adding a patio, garden, or a deck to your home to give your outdoor space a luxurious look and feel.
3. Install energy-efficient features. Adding features such as solar panels and LED lighting can save you money in the long run and add to the value of your property. Install energy-efficient features to your home to reduce your energy bills and make it more attractive to buyers. Solar panels and LED lighting are both cost-effective options that can provide you with long-term savings and boost your property’s value.
4. Install new flooring. Replacing old carpet or worn floorboards with stylish wood or stone flooring can instantly add value to your home. Replacing old carpets or floorboards with stylish wood or stone flooring will instantly boost your home’s value. Replacing old flooring with something more modern and stylish can make your home stand out from the crowd and appeal to potential buyers.
5. Add a fresh coat of paint. A fresh coat of paint can make a world of difference and can be one of the most cost-effective home improvement ideas. Adding a fresh coat of paint to the interior and exterior of your home can make a huge difference. It’s one of the most cost-effective home improvement ideas and can instantly add value to your property.6. Upgrade your bathrooms. Bathroom renovations can be costly but can really add value to your home. Replacing old bathroom fixtures and tiles with modern and stylish ones will instantly boost your property’s value. Consider adding new mirrors, lighting, taps, and other fixtures to give your bathroom a luxurious look and feel.
7. Add a home office. A home office is becoming increasingly popular and can be a great addition to any home. Consider adding a home office to your home to make it more appealing to potential buyers. A home office can provide extra space for a study, a workspace, or a hobby area.8. Upgrade your windows. Replacing your old windows with energy-efficient ones can save you money on your energy bills and add value to your home. Replacing your old windows with energy-efficient ones can save you money on your energy bills and make your home more attractive to buyers. Consider adding double or triple-glazed windows to your home to reduce your energy bills and make your home more attractive.
9. Install security features. If you are looking for ways to increase your property value, adding a security system is a great way to do so. Installing a security system to your home can give buyers peace of mind and add value to your property. Consider adding CCTV cameras, motion sensors, and other security features to make your home more secure.
10. Landscaping. A good landscaping job can really make your property stand out and attract potential buyers. Consider adding landscaping features to your home such as a pond, deck, or garden to make it more attractive. Adding landscaping features to your property can make it stand out from the crowd and give potential buyers something to remember it by.
These are just 10 of the many home improvement ideas that you can use to increase your property value in Australia. Whether you’re looking for ways to save money in the long run or just want to make your home more attractive to buyers, these home improvement ideas can help you achieve your goals. So start planning and get to work on boosting your property value today!If you need help or advice from a real estate expert, Property Mates is here to help. We offer a comprehensive range of services, from buying to selling and even co-owning, and our experienced real estate experts can guide you through the process. With Property Mates, you can be sure that you're making the right decision in the property market.
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The Benefits of Hiring a Quantity Surveyor for Your Building Project
Leave a CommentAre you considering embarking on a building project? If so, you may be wondering if you need to hire a quantity surveyor. A quantity surveyor is an essential part of any building project, and their expertise and knowledge can help ensure that your project is completed on time and within budget.
Here are just a few of the benefits of hiring a quantity surveyor for your building project in Australia:
1. Cost Control: A quantity surveyor can help you manage the costs of your building project. They can provide you with in-depth cost estimates and advice on where to source materials. They can also help you identify opportunities to save money, such as by negotiating with suppliers.
2. Quality Assurance: A quantity surveyor can help ensure the quality of your project by monitoring the materials used, inspecting the building site, and ensuring that any required permits have been obtained. This can help you avoid costly mistakes or delays.
3. Professional Advice: A quantity surveyor can provide you with expert advice and guidance on the project. They can provide you with information on the latest building regulations and advise you on any potential risks or issues that could arise.
4. Risk Management: A quantity surveyor can help you manage the risks associated with your building project. They can identify potential problems before they arise and help you develop strategies to minimize the risk.Overall, hiring a quantity surveyor for your building project in Australia can be a great way to ensure the success of your project. They can provide you with expert advice and help you manage costs, quality, and risk. So, if you’re looking for a professional to help you with your project, consider hiring a quantity surveyor.
MCG Quantity Surveyors offer experienced professionals that can provide the expertise and support you need to ensure your project is completed on time and on budget. Property Mates users can enjoy an exclusive discount when booking with MCG Quantity Surveyors. So, if you're looking for an experienced and professional quantity surveyor, look no further and book them on Property Mates today!
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6 Unique Destinations to Visit During Christmas Season in Australia
Leave a CommentAs the holiday season approaches, many people are looking for unique destinations to visit during Christmas in Australia. From the stunning beaches of Bondi to the majestic Snowy Mountains, this vast country has plenty of incredible places to explore and experience during the festive season. Here are 6 unique destinations to visit during the Christmas season in Australia.
1. Bondi Beach, Sydney
Bondi Beach is one of the most iconic beaches in Australia, and it provides an idyllic backdrop for a Christmas getaway. Enjoy the stunning white sand and crystal clear waters of this iconic beach during the festive season. Take a dip in the ocean or simply relax on the beach with a good book. Bondi Beach is a great destination for a family getaway during Christmas.2. Tropical North Queensland
Experience the tropical paradise of North Queensland during the festive season. Enjoy the lush rainforests, white sandy beaches and crystal clear waters that this region has to offer. Take a dip in the natural swimming holes, explore the Great Barrier Reef or simply relax in the sun and enjoy a beachside getaway.3. Snowy Mountains, NSW
The Snowy Mountains are a great destination to experience during the festive season. Enjoy the snow-capped peaks, ski down the slopes, or simply relax by the fireplace in one of the many chalets. There are plenty of activities to enjoy during the festive season in the Snowy Mountains, making it a great destination for those seeking some winter fun.4. Margaret River, WA
The Margaret River region is renowned for its stunning wineries and beaches, and it’s a great destination to visit during the festive season. Enjoy the stunning coastline, sample some of the region’s finest wines, and take a dip in the crystal clear waters. Margaret River is a great destination for a family getaway during Christmas.5. Kangaroo Island, SA
Kangaroo Island is a stunning island located off the coast of South Australia, and it’s a great destination to visit during the festive season. Explore the rugged coastline, take a dip in the crystal clear waters, or simply relax and take in the stunning scenery. There are plenty of activities to enjoy during the festive season on Kangaroo Island, making it a great destination for a family getaway.6. Uluru, NT
Uluru, also known as Ayers Rock, is a stunning natural wonder located in the Northern Territory. Take a tour of the area and explore the unique landscape, or simply stand and marvel at the majestic sandstone monolith. Uluru is a great destination to experience during the festive season, and it will provide a truly unique and unforgettable experience.These are just some of the many unique destinations to explore during the Christmas season in Australia. From the stunning beaches of Bondi to the majestic Snowy Mountains, there are plenty of incredible places to experience during the festive season. Wherever you choose to go, make sure you make the most of it and enjoy the festive season in Australia.
Furthermore, Christmas in Australia is also a great time for investors. With its strong economy and thriving tourism industry, Australia is a great place to invest. With its low cost of living and wide range of investment opportunities, you can rest assured that your money is in safe hands. If you're looking for a reliable platform to invest in real estate and get help from knowledgeable experts, Property Mates is the perfect choice for you! With their comprehensive range of services and experienced real estate experts, you can be sure that you're making the right decision.
Whether you’re looking for a relaxing holiday or a chance to invest, Australia is the perfect destination during the Christmas season. With its natural beauty and vibrant culture, Australia is the perfect place to experience the true magic of Christmas.
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Homelessness week 2022: “to end homelessness we need a plan”
Leave a CommentThis week is Homelessness week, so what do we know about it?
Right now, there are over 116,000 people experiencing homelessness in Australia (according to the 2016 Census). And it’s undeniable that the true number in 2022 is to be far higher. We are joining to help raise awareness and educate fellow Australians on how we can all contribute to innovative housing solutions and make a difference.
Homelessness week runs from August 1-7 and the theme is “to end homelessness we need a plan”. We couldn’t agree more. We need a plan and fortunately, the new Federal Government has committed to developing a national housing and homelessness plan. This gives hope to all the people affected.
As the cost of living is higher than people’s incomes, rents quickly rise, and property prices are higher than ever, it is necessary to do more to elude homelessness.
There is a lot that we can do and it will take time. We can start by making sure people’s income allows them to afford the current housing market. Provide more affordable and safe housing, and support for people that need to sustain a home.
Nothing will change if we do not act now and housing affordability affects every Australian. we need the help and support of everyone in our communities to raise awareness and build momentum.
Homelessness Australia launched its major report ‘A Plan To End Homelessness’ and there are important facts and recommendations that can definitely help end this. Read the report here.
Property Mates has been a pioneer in helping people buy their homes within their budget. With the co-ownership concept in place on our platform, we want people to decide on their budget and buy a home together. We recently added a community of experts to help you every step of the way. Together we can help and contribute to end homelessness.
David Acosta
August 2, 2022
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Help to Buy Scheme: How Does it Affect You?
Leave a CommentAs you’ve probably heard by now, up to 10,000 Australians may get their foot on the property ladder if the Labor government gets elected. The idea is to have the government take an equity stake for up to 40 percent of the purchase price of a new home, and up to 30 percent for an existing home.
Anthony Albanese said this Labor’s policy is called “Help to Buy” and it’s meant to tackle the current housing crisis. This could help Australians buy a home and stay on their budget, take out a smaller mortgage, do a smaller deposit, and most importantly buy a house.
The Help to Buy scheme’s intention is to help up to 10,000 Australians buy a property amidst a housing crisis. You are eligible if you are 1) An Australian citizen. 2} An individual with a taxable income of up to $90,000. 3) A couple with a taxable income up to $120,000. One important thing to note is that home buyers cannot own or have an interest in a residential dwelling.
Eligible homebuyers will only need a 2 percent deposit. And that is remarkably lower than the recommended 20 percent. Homebuyers will also avoid paying the costly Lender’s Mortgage Insurance (LMI), which means additional savings that can easily be in the tens of thousands of dollars range, depending on the property value.
Additionally, homebuyers are not required to pay rent on the portion that the government owns. What’s going to happen is that the government co-owns that percentage of the property, and the homeowner would have a chance to buy out the government’s portion over time. With regard to property prices, there will be a property price cap on the value of properties eligible for the scheme. Refer to the table below:
There are some other government buyer schemes out there to help people but this “Help to Buy” scheme is intended to help buy a property more affordable compared to the others. It’s co-buying a larger portion of the property price. Simply put, the concept is not new but it’s definitely a promising one.
It’s just not the government that is laying out this concept. Property Mates is a pioneer in fractional ownership and have been pushing the idea of co-buying or co-ownership to help Australians get their foot on the property ladder. Simply put, Property Mates is a social platform helping all property players connect and build relationships together, and with this our aim so help every Australian buy or co-own a house with the help and connections of everyone in the real estate world.
The real estate world is constantly changing with prices, interest rates, trends, etc. But no matter what the change is, Property Mates is here to help you buy your first home, your first investment property, or simply just get your foot on the property ladder.