Ensuring your home is safe for Children

As parents and responsible home owners, we do everything we can to make sure our homes are safe for our children.  Even if you do not have kids, it remains important to ensure that your property will not pose a threat to any young visitors. After all, there is nothing worse than having an accident occur in your home (whether life threatening or not) that could have been easily prevented.

The Australian Institute of Architects and Kidsafe have a safety checklist that is quite comprehensive in listing the various dangers that can exist in your home and how to address them.

Air
Poor air quality in homes can be quite problematic, with various pollutants such as formaldehyde and carbon monoxide building up to unacceptable levels if air flow rates are not above a certain point.  This can lead to stuffiness and sneezing for all occupants of the home, not just children.  Opening windows (with stay locks to avoid break-ins) is one way to achieve the appropriate air flow level in your home. 

Cords
Be wary of the cords around your home, such as those hanging from blinds or electrical cords.  In the past, there have been cases of cords strangling children.

Allergens and Asthma
There are a variety of things in your home that can contain asthma-triggering allergens.  Surfaces such as carpets can harbour dust and dust mites, as can bedding.  Pets with fur (especially long hair) can also cause asthma problems. Reducing reaction-causing exposures is a wise move to avoid asthma attacks from occurring in your home.  Frequent vacuuming, dusting, washing and airing of bedding can be good first steps to take.  It may also be a good idea to restrict pets from entering bedrooms.  

Play Equipment
One loose bolt on a set of play equipment has the potential to cause some serious damage to a child.  Consider the materials you use to construct the set, with an aim to avoid sharp edges and the possibility of splinters.  Also take care to choose a soft landing material for around your play equipment set, such as a rubber floor (indoors) or pinebark or sand (outside). 

There are some very easy steps that can be taken to make sure dangerous and completely avoidable situations do not occur in your home. 

 

Some low cost tips to boost the value of your home and build valuable home equity

Some low cost tips to boost the value of your home and build valuable home equity

Firstly, make additional home loan payments when possible. This will enable you to chip away at your home loan, meaning equity growth even though when the property value remains stable.

Secondly, quality renovations and improvements will increase the overall value of your home. If you are working within a tight budget; some of the most effective improvements are also the cheapest.

Start with making an entrance. Updating the entrance to your home not only refreshes the overall appearance of your house, but also adds important street appeal. New doors cost as little as $180 from major suppliers. Another handy tip is to add pot plants for colour.

It's worthwhile to consider painting the interior or exterior of your home to give the property an instant makeover. Pale colours make a room appear larger, and opting for a consistent colour scheme throughout the house will create a great sense of space and flow. Remember, open-plan living and large rooms are currently in fashion in today's property market.

Updating the floors is another great option to refresh the overall look on your home and boost equity. Floors take a beating everyday they are lived in. Sometimes just getting a professional carpet clean or perhaps installing a new fashion carpet is it all it takes to revive the look.

Just by adding pot plants or adding new pavers in the backyard can also automatically refresh and update the look of your home.

Getting ready to sell your property

Getting ready to sell your property

Selling your property is a big event in your life – but before listing your home for sale, you will have to answer a number of questions, such as;-

• have I chosen the right time to sell?
• should I renovate the property prior to sale?
• will I price the home correctly?
• will I choose the right agent?
• how much should I spend on advertising and marketing?
• will I choose the best method of sale?
• should I sell by auction or tender?
• will I find a buyer quickly?
• will I have to take a drop in my price?
• what if my property doesn’t pass the building a pest inspection?
  When is the best time to sell?
  This question is usually decided by a personal timetable of having to relocate because of a job, new school, illness or lifestyle changes including upgrading or downsizing.
  If you have the ability to choose the time that you want to sell then January and February are good months as are the Spring months – the Winter months usually have the lowest buyer activity.
  The economy affects the housing market so a low unemployment rate and low interest rates bring out the buyers who are owner occupiers and the investors.
  Should I renovate before I sell?
  Unless your home is derelict and will not pass a building and pest inspection, then there is little need to renovate because every dollar you spend you will be paying GST and although you may attract the best buyer in the market there is no guarantee you will get a better price or recoup your investment in the renovation.
  However, in sought after areas and suburbs, a renovated kitchen, or bathroom or an additional room can result in a much higher price which would cover the cost of the renovations.
  Remember, many buyer love to renovate themselves to their own taste so if you renovate, you may have to ask a higher asking price to cover the cost of renovating and you may “price yourself out of the market”.
  How do I choose the market price?
  If you ask a real estate agency to suggest the best price for your property, you will be given a Competitive Market Analysis (CMA) of properties that have sold recently and those currently in the market that are similar to your property. If you ask more than one agency to give you an option of the best market price be prepared to get the same suggest asking  price from all the agencies because they all use the same evidence to determine the best market price.
  Based on the evidence provided by the CMA, you could market your home at a realistic price to attract the majority of buyers which would give you a quick sale – or if you want a “premium price” it could mean spending more money on advertising to attract the best buyer.
  If you price your home below the CMA price you will get a quick sale and will not have  to spend a lot on advertising, but the higher you set the asking price  above the average the CMA price for your property, then the more you have to spend on advertising to attract buyers.
  How do I choose the best agent?
  In today’s real estate market, salespeople promote themselves through advertising, letterbox drops and signboards.
  Chose an agent that has an innovative marketing plan to get you the best buyer at a premium price.
  The most active agents are easy to spot as they have most of the sales and listings in your area so start your search with them.
  You will get a higher price and a quicker sale if you get on with the salesperson as selling a property is a team effort with you and the agent working together to obtain the best result.
  How much should I spend on advertising and marketing?
  The days have gone when sellers believe the agency should pay for the advertising – their job is to sell the property through advertising, promotion and personal selling – it is the seller’s responsibility to decide how much they will spend on advertising and in some cases, it could be between 1% and 2% of the listed price.
  To obtain a premium price, the agency may suggest internet advertising with banner and feature adverts plus newspaper and magazines adverts whilst for an average sale, internet advertising may be all that is required.
  Will I choose the best method of sale?
  Approximately 80% of all properties listed for sale in Australia are by the Exclusive method of sale - that is one agency selling a property, with an asking price. The remainder are sold by a “no price marketing” method either auction, tender or “by negotiation”.
  Should I sell by auction or tender?
  Of the 20% that are listed without a price, most are sold by auction, which is a popular method of sale in Melbourne and certain suburbs of Sydney, Brisbane and Adelaide.
  If you want to obtain the best price in a competitive bidding environment in a short period of time then action may be a solution because there are 3 chances of a sale – before the auction, at the auction or after the auction.
   There is no “cap” on the price obtained when selling by auction so you have the chance of getting a “premium price”. N advantage for the sellers of an auction is that the buyers can't have any "subject to" conditions added to the contract.
  Will I find buyer quickly?
  Depending on the market conditions and buyer actively, if you price your property realistically, you could sell within days.
  Will I have to take a drop in my price?
  Most sellers choose a listing price above the CMA price and real estate statistics show that many owners drop up to 6% of the asking price to get a sale.
  What if my property doesn’t pass the building a pest inspection?
  It is wise – but it costs money – for a seller to get an independent building and pest inspection on the property before listing it so there are no surprises and any problems can be fixed so when the property is sold, the sale goes smoothly!

Ensure your holiday home pays its way all year round

Ensure your holiday home pays its way all year round

Summer time, especially the Christmas and New Year period (in the Southern Hemisphere), to be quite an interesting time for real estate.  Many people take time off work and while some go on extended overseas trips, lots simply spend a week or two in a rented house near a beach or other location away from home. 

The pairing of good weather (hopefully) and beautiful scenery with some much needed relaxation can often see holidayers start to contemplate the idea of owning a holiday home themselves.  

So what do prospective purchasers need to look for in a property intended primarily for vacation use, and how do you ensure you get the most from your investment outside the summer months?. 

A big part of the success of a holiday home in the rental market is the number of people that the property can easily sleep.  The installation of bunk beds, beds with trundle beds, and queen beds can ensure that a house is both couple-friendly while sleeping a large number of guests.  With some smart configuring, a house with as little as three bedrooms can then become attractive to families or groups of friends who wish to go on holidays together, who are then able to save on accommodation costs by hiring one house. 

Outdoor entertaining areas were also flagged by the article as an aspect that can increase the rental income from a holiday home, both in summer and during the colder winter months as well.  The inclusion of a barbecue, large outdoor setting and potentially even outdoor heaters can help to heighten your property’s attractiveness to holiday renters. 

If purchasing a holiday home that requires renovation, or even just a little bit of a sprucing up, remember that this is not your primary residence and you don’t necessarily have to spend a fortune on it. 

There are definitely ways to give a property a make-over without having to go overboard.  According to the article, a fresh coat of paint and a carpet cleaning can often be enough to substantially improve the presentation of your holiday home.  When painting, remember that large groups of people may be staying in your house – the use of lighter and more neutral colours can help to increase the property’s feeling of space, often making for a more enjoyable experience for renters. 

So if you think you may be in the market for a holiday home, remember that this is not your main residence and you may need to consider different requirements than you would with a normal home.  Such contemplation will help to ensure that as well as a holiday home, you will have a viable investment option both within and outside of the summer months

 

Sustainable items can add thousands of dollars to your home

Sustainable items can add thousands of dollars to your home

A report in the Brisbane Courier Mail says research by PRDNationwide has shown installing sustainable items can add thousands to the price of your home.

For example, solar panels can add 27% and solar hot water 26%

A water tank can add 30% to a home and 33% to a unit’s price.

Going “green” pays off in real estate

If you're thinking about renovating or building a new home, you should consider using recycled materials and reduce the environmental impact of your project. The Internet is a great way to access pre-loved building materials at great prices.

When you start designing your project, consider what you really need. Larger homes won't only cost more but will also require more resources to complete. With clever design and planning you can make better use of the space you have available and reduce the need to add on extra rooms and materials.

You can also reduce the environmental impact of your project by re-using recycled goods from your existing structure or by purchasing recycled building materials. These materials are often cheaper than buying new building products, which will also assist you financially.

If your project involves demolishing the original structure I strongly suggest deconstruction rather than destruction. Re-use timber, doors, and window frames in your new structure to save money and protect the environment. Many people admire reclaimed wood as it offers a unique combination of antique beauty and uncompromising durability.

 

AUTUMN GARDENING TIPS

AUTUMN GARDENING TIPS

While it may seem tempting to curl up on the couch on chilly days, autumn can be a great time to get out in your garden before winter sets in. Below are four tips to help care for your garden over autumn.



1. Make a vegetable patch



Although autumn may seem to be the wrong time of year to be planting in your garden, many plants actually thrive over the cooler months, including some great winter veggies. Planting cabbage, broccoli, celery and leeks in autumn, can provide you with fresh ingredients for hearty meals as the weather gets colder. Cultivating a vegetable patch is also a great way to get your kids involved in the garden. It teaches them the benefits of growing your own vegetables and they'll love getting their hands dirty.



2. Plant colour for autumn, and plan for spring



Autumn is also a great time to plant colourful blooms such as pansies and paper daises, so that when winter rolls around, they are in full bloom and your garden has a warming splash of colour. You can also plan for spring in autumn. April to May is the perfect time to plant spring flowering bulbs such as tulips, daffodils, and freesias.



3. Get on top of your pruning



Pruning shrubs, bushes and trees is another important gardening task in autumn. Pruning plants encourages new growth, and can help to shape trees, and prevent long branches from breaking. Pruning can also give your garden a neater look throughout winter when branches are often bare.



4. Cover up with mulch



Covering your soil with mulch will stop it from eroding, keep it moist and prevent weeds from growing. This means less work for you! If you are inclined, you may even consider making your own compost, using food scraps from the kitchen to add extra nutrients to your soil. Compost is an inexpensive way to make sure your soil stays healthy all year round.

 

Investment property opportunities - student housing

Investment property opportunities - student housing

People have varying ideas about what makes a good investment property.  Some people like to buy in locations that seem to experience perpetual summers and are rented out as holiday accommodation all year round, while others like to purchase in up-and-coming trendy suburbs, so as to capture the ‘just leaving home’ market. 

When purchasing a residential property for investment purposes, you should definitely consider student accommodation as another viable option. 

Traditionally Australian students have stayed close to home to study and live at home while doing so.  However we are currently seeing university, private college and TAFE students travel around Australia as they seek out the best institutions at which to complete their course or conduct a work placement and as such require affordable housing away from home.   

The number of international students attending Australian universities is also increasing, with education services now Australia’s largest service export industry behind tourism, bringing in billions of dollars to the Australian economy.  While some of these foreign students may be lucky enough to live in housing purchased by their family, the majority require accommodation for the duration of their stay. 

In many locations around Australia therefore there is demand for student housing.  And you can be sure that as long as you keep your property properly maintained (as you would any investment property) your rent will keep coming in for as long as students attend the nearby institution. 

So what can you do to maximise the return from your property? The first piece of advice would be to remain selective – don’t assume that just because your occupants are students they are after a dingy dwelling in dire need of renovation.  Students are becoming increasingly picky, especially international students whose parents, in many cases, are funding their accommodation.   Try to buy a modern property, or if so inclined, fix up an older dwelling, installing contemporary amenities. 

Remember that location is essential when choosing a property.  You should try to buy in areas that have large student populations and are within close distance (preferably walking or easy public transport) to education institutions. 

To ensure that your property is always occupied, even during holiday breaks, try to stay proactive in its management, or employ a property manager who is.  Be aware of when extended breaks will occur and plan ahead if you know that your tenants will wish to vacate. 

Student accommodation can be an excellent investment property option, with (in many cases) a lower upfront purchase cost and very certain ongoing rental payments.  You may find it worthwhile to look into the option when considering your next investment move.