Tag: property

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Before & Afters Design House Tours Real Renos RENO ADDICT

Real reno: Sydney B&B transformed into elegant family home

Located in Sydney’s Clovelly, this home was overhauled over a five-month period, at a cost of $350,000 and with pretty amazing results. Formerly a bed and breakfast, the original cottage-style abode was transformed with a combination of white, light and some lovely designer touches.

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BEFORE exterior
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AFTER exterior

“It was lovingly built and maintained by the previous owners who ran it as a B&B but their tastes were very different to ours. They liked the old cottage look and loved the old slate floor which to us just felt really dark, dingy and yellow,” says the owner, who engaged the Sydney renovation company Modify to assist in the overhaul that was brought forward after living in the home for a little while.

“After we moved in, the need to renovate became even more pressing as we realised we had bought a home starved of natural light. It was cold, both physically and emotionally, and we really felt like there were days we were living in a bat cave. Some days it just felt glum with no real link between outside and inside and a floorplan that just didn’t work for our family,” says the owner.

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BEFORE kitchen
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AFTER kitchen

On the ground floor, every internal wall was either moved or removed to create open plan living and to let light in too. “We knew we wanted a living area that spilled out onto the backyard so we could see the kids in the pool and have the heart of our home near the greatest source of light. Opening the back and removing internal space helped us bring the outside in and create a seamless link with the outside,” says the owner.

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BEFORE lounge
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AFTER lounge

Some renovation hiccups included the removal of asbestos and the repair of weakened joists. “It’s so boring spending money on the stuff you don’t see!” says the owner who reveals that rendering the outside of the house offered the best bang for buck. “It was one of the most affordable parts of the renovation and it’s added significant value,” she says.

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AFTER bathroom

As for advice for would-be renovators, the owner believes you should tread carefully with trends. “Balance things that are on trend with things you think will stand the test of time. Particularly if your renovation isn’t going to be repeated again soon. And go with your gut too and don’t get pushed into thing you don’t really like.” She decided, for example, to stick with classic white for the home’s exterior, rather than a more trend-driven hue. “So many people told me to paint the exterior of my house dark grey. It looks lovely on other people’s houses but it’s just not my style and I knew it was too trendy for me and I didn’t want to have to repaint my house in two years when the trend had moved on.”

See more of Modify’s work here.

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Kitchens RENO ADDICT

Increase your home’s resale value with Romy Alwill’s expert advice

Adding a few contemporary upgrades will not only make your house aesthetically appealing, but may also be very rewarding on sale day.

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At the end of the day, it’s important to remember that not all buyers will have the same taste as you. Invest in quality items that won’t go out of vogue for a renovation that you, and potential buyers, will both love. One easy way to instantly add value is renovating two key areas – the kitchen and bathroom. Both spaces can inject a lot of style as well as drive potential resale prices up.

In the bathroom, a quality bath is must-have. A bath appeals to the large market of families with children who will be looking for convenience as well as style when purchasing a potential home. Space permitting, a double basin vanity can add instant value to home buyers who are looking to minimise morning and pre-bedtime rushes.

With cooking and entertaining at home becoming such a crucial part of our lives, the kitchen is one area renovators would be wise to focus on when considering a renovation for potential resale. One easy upgrade for any kitchen is switching an old out-dated sink for an undermount sink. This will add an attractive minimalist look and provide extra bench space, making the kitchen appear larger.

For the purposes of growing families and entertaining, I can’t recommend a large oven highly enough. Investing in a large 90cm oven will see you fitting in everything from roast dinners, through to your favourite recipe from Masterchef.

Another cost effective tip when considering renovation for potential resale is upgrading your light fittings. It’s impressive how fast technology in light fittings is changing, from halogens to LED’s. Make a statement by getting creative and keeping your fittings in fashion.

Another great tip to make a house more modern and streamlined is painting the wall and ceiling the same colour. This immediately makes rooms seem larger and won’t break the bank.

Romy Alwill is a judge on Reno Rumble and E&S Ambassador.

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Before & Afters Design Expert Tips Real Renos RENO ADDICT Styling

Real Reno: Three Birds Renovations share House 4 in every detail

Before

By Lana Taylor

House 4 is done and dusted and to take you on the journey, I’ve got some obligatory B&As (before and afters) along with some Q&As that I pose to myself and then answer myself #slightlyawkward #multitasking.

BACKYARD

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Backyard 3 AFTER
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Did we keep anything from the original backyard? The existing concrete porch proved a god-send as we anchored a new deck off it and then painted it and the deck the same colour to make it look like one large alfresco space.

Is that timber decking? No. In all our previous renos we’ve built timber decks (as you do) but at this house we branched out into fibre-cement decking called HardieDeck. It has the strength and durability of concrete (and is fire-proof), but with the smooth look and feel of a modern boat deck. And the best part is you can paint it any colour you want.

Who doesn’t love a privacy screen? Nobody, that’s who! A privacy screen offers so many benefits: 1) it hides you from your neighbours and vice versa 2) it helps create the feeling of an outdoor room and, if built used Scyon wall cladding, it can become an architectural feature of the house. PS – we are slightly obsessed with Scyon walls so you’ll start to see them popping up in many more of our renos.

Why did we remove the upstairs balcony? The rickety wooden balcony was both unattractive and structurally unstable. Rebuilding it would have been costly and only worthwhile if it had provided our future homeowners with a nice vista to look out on. Given that this one looked straight over the back fence into all the neighbouring houses (no thanks) we decided to scrap it altogether!

Best budget buy outside? We saved some cash with our external servery. We bought solid timber benches from our local hardware store and had our builder cut and install them.

MASTER SUITE

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Is that a clad wall behind the bed? Yes – and would you believe me if I told you it is the SAME Scyon wall cladding from the outdoor privacy screen? Who would have thought it could translate so well inside!? #bonnieknew

Where’s the wardrobe? Behind the wall, behind the bed. We love a walk-around robe almost more than a walk-in version.

Where is that gorgeous painting from hanging above the bed? This stunning artwork is called ‘We are Sole’ by artist Danielle Cross.

Which tiles did we use in the ensuite? All the tiles came from Amber. We used 600×600 Statuario Grey Polished Porcelain on the walls for a touch of marble style luxury and charcoal Durastone Herringbone 25×50 on the floor. The seafoam subways (Spanish handmade Menta) were our favourite and kick-started Bonnie’s love affair with this lightest shade of green.

What if people don’t want an open ensuite? We love an open ensuite but recognise we might not be in the majority. For those who prefer the privacy of a closed-in ensuite, this design can easily be adapted by installing two cavity slider doors in each nib wall.

FORMAL LIVING ROOM

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Is it the same room? Yes …. and no 😉  The before shot is of one of the rooms, but we removed the wall between it and another bedroom to turn the space into one large formal lounge with separate tapas bar.

Did I just say tapas bar? Every Aussie home needs a tapas bar, right!? Well maybe not, but we couldn’t resist in this reno. The formal lounge room was big so it worked to create two zones in the one space. 

Why didn’t we keep the yellow walls? I know this is the question on everyone’s lips but we opted instead for our fave white, Snow Drop by Taubmans. 

Our budget buy in this room? To save money we used cheap-as-chips IKEA sheer curtains ($12 for two).

Most practical decision? We learnt from House 3 that it’s best to separate your living spaces, so that one is truly an escape from the other. This was a challenge with the floor plan, but we solved it easily by adding French doors that can section off this zone from the rest of the house.

So that was Part 1 of the journey through the transformation. Next month we’ll share Part 2, which will showcase the kitchen, living and dining, along with the unlikely hero of the house –the stairwell.

–Lana Taylor is one third of Three Birds Renovations alongside Bonnie Hindmarsh and Erin Cayless, and one of our Resident Experts. The best friends and busy mums walked away from their corporate careers in pursuit of a more fulfilling life. They created Three Birds Renovations – a boutique renovation company where they buy, renovate and sell suburban homes. Their ultimate ambition is to build a life they love, hoping to inspire others to do the same.

Read all Three Birds Renovations’ posts.

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Expert Tips RENO ADDICT

Five quick-fix renos to boost your property price

Need to sell your property, fast? If you only have a couple of weeks until open inspection, these reno ideas will make a big difference to the sale price.

Describing a property as a ‘renovator’s delight’ no longer has the romantic overtones it once did. If you need to sell your place quickly, hiring a property stylist who can highlight areas of interest for buyers with well-chosen, well-placed furniture and accessories, as well as good lighting is the best value for money.

But if you have a fortnight up your sleeve before open home and want to make some changes, here are five quick renovations you can make if you don’t have time for a full upgrade.

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Image source: Pinterest

  1. Paint

A fresh coat of paint can liven up a property and even help to highlight some of its features. But a paint job isn’t just a matter of making the walls and ceiling look new, it should also be used to neutralise the look of the property as that helps the stylist add value.

Buyers want to see themselves in the place and you’re more likely to attract them if you give them a blank canvas for their vision rather than keeping that bright purple in the bedroom, funky as it may have been at the time it was painted.

Time required: Depends on the size of the property, how many coats and whether you want to do it yourself or hire professionals, but anywhere from 1-2 days to 1-2 weeks.

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Image source: Pinterest

  1. Replace, don’t renovate

Even a quick kitchen and bathroom renovation can take up to eight weeks so if you only have two weeks to play with, what should you do? Identify what looks the most dated and seek to replace parts and resurface fixtures rather than do a complete renovation.

Instead of gutting the kitchen, this might mean spray painting a tired looking splashback. In the bathroom, spraying tiles and resurfacing the bath or shower recess can make a huge difference.

In both places, replacing old tap fittings can instantly make sinks look newer, and while you’re doing the changeover you can also fix any minor leaks. Also consider replacing the handles to pantry cupboards, cutlery drawers and vanity compartments.

Time required: A few hours to a couple of days.

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Image source: Pinterest

  1. A grand entrance

Make a great first impression by focusing your efforts on the entrance to your home. Clean and tidy the entrance by removing debris, fixing the wobbly step and giving it a lick of paint. If you have greenery leading up to the house, landscape it.

Time required: A few hours to a day.

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  1. Opening doors

Speaking of entrances, doors can make a big impact so make sure they open and shut smoothly, without creaking, and the surfaces are free from scratches and dents.

Consider replacing the doors completely if they look dated, shabby or cheap. For the cost of a few quality doors you can transform your property significantly.

Time required: If you have the replacement doors ready, a day.

  1. Floor them

Worn, stained or wonky floors are highly noticeable, ruining the look of the property. You might be able to get away with a rug or a floor runner but if you can’t and need to replace the carpet or add floating floor boards, do it before your open home to make the place fresh from the ground up.

Time required: Professionals can replace the floors of a two-bedder in around 1-2 days. It’ll take longer for bigger properties or if you want to DIY.

Renovations don’t need to be big time-consuming projects. There are always little things that can make a big difference to the sales price of a property if you’re short on time.

Mark Foy is one of our resident experts and a director of Belle Property Surry Hills in Sydney.

Read all Mark’s articles. Got a question for Mark?

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Design Outdoor & Exteriors RENO ADDICT Shopping

Timber and aluminium combine for beautiful and durable doors

Timber and aluminium doors both bring so much to a home, it’s difficult deciding which to go with. Timber is insulating and adds a traditional touch, while aluminium is so fantastically durable and modern.

If you’re struggling with the choice, check out Stegbar’s Siteline composite doors and windows. They combine the two!

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Featuring wooden interiors, you can get the warm and classy look that is so unique to good quality timber. Both the western red cedar and pine options are beautiful woods. If you want to really showcase that wood grain, you can also get it stained rather than painted.

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Heading outside, the aluminium exterior frames look contemporary and are super practical and durable. You’ve got to love that they’re virtually maintenance free! They’re anodised, powder-coated and waterproof.

Even better, the most common problem faced by aluminium door owners is minimised by the wooden interior. You can keep your heat in winter and lose it in summer.

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In fact, Siteline products can withstand most weather events. They’re fireproof and treated to resist water saturation. This means they open and close easily without swelling and warping every time.

Stegbar’s national marketing manager, Christine Evans, thinks that environmental and energy conscious renovators in particular will love the composite range. “Due to the properties of the timber, which is sourced from environmentally sustainable forests, energy-efficient glass and single or double glazing options, the windows and doors can help to achieve a six-star energy rating or higher.”

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There’s plenty of styles to choose from, too. The composites come in bi-fold, awning, casement, sliding and fixed window models, and bi-fold hinged and sliding doors. Not sure which suits you best? The Stegbar Installation Service team are experts at working out what glazing best suits your local conditions, and have lots of tips of product selection too.

Want more information? Check out Stegbar’s site

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RENO ADDICT

Expert Advice: How to pick the right trade

Did you check your tradie’s credentials before booking? Check out our four-step guide to ensuring you’re working with a professional.

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If you’re looking to hire a tradesman, whether it be a plumber, electrician or just a handyman to repair something broken, it’s important that you choose carefully. The best tradie for the job will be appropriately qualified, licensed, professional and have a reputation for producing great work. Being discerning in your choice will ensure that you get work done on time, it’s good quality and completed at a good price.

To help you hire the right tradie for the job, you need to ask the right questions. Here are four key factors to consider…

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Are they legitimate?
An ABN or Australian Business Number is issued by the Australian Taxation Office (ATO) and helps businesses to identify one another. While it’s not mandatory for a tradie to have an ABN, it makes it easy for anyone to verify their business. The ATO database will enable you to see when the business was registered and whether that registration is still valid.

Are they licensed?
Most tradesmen in the building sector require a license to perform work in your home and have to hold a qualification to be awarded the license in the first place.

Trade licences are not as black and white as they might seem though, so be careful. Licensing of trades is done on a state-by-state basis, with each state having slightly different requirements. Some licences for builders, plumbers, electricians and gas fitters are licensed nationwide. Other tradesmen such as painters, are not required to hold a licence in every state.

To navigate through the confusion, searching online will quickly tell you whether your potential electrician/carpenter/tiler/landscaper needs a licence where you live. To check if theirs is valid you can look online or simply just ask to see it with your own eyes. If they push back on providing documentation then your alarm bells should really be ringing.

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Are they covered?
It’s absolutely vital that the tradie you choose is covered by the correct insurance policy. Public liability insurance is compulsory and will protect you against third party injuries and property damage caused by the contractor. Without public liability insurance, they may not be able to pay for the damage, replacement or repair.

So it’s of the utmost importance that you check their insurance is current and valid, before allowing them to commence work in your home.

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What’s the word on the street?
One of the best ways so check a tradie’s reputation, workmanship and professionalism, is to see what their past clients have said about them. Search their business online and look for testimonials or online recommendations. This will give you an idea of how they operate, and if you notice an alarming number of negative reviews, it would be best advised to steer clear!

Carefully considering all of these factors and asking the right questions upfront can ensure that you choose the right tradie for your home improvement needs, while avoiding any possible disappointment or disputes.

–Johanna Seton is a home improvement expert from hipages.com.au, Australia’s largest online marketplace for hiring home improvement professionals

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Bathrooms Kitchens RENO ADDICT

Shower yourself with $2,210 in bathroom and laundry deductions

When it comes to depreciation, the bathroom and laundry areas of a rental property contain some of the items most often missed by investors when claiming deductions.

While shower curtains and bathroom accessories such as toilet brushes, soap dispensers and hampers have relatively low depreciable values, it is items like these which can provide property investors with returns straight away.

Items contained in an investment property which have a depreciable value of less than $300 can be deducted as an immediate write-off in the first financial year after their acquisition. These plant and equipment assets experience wear and tear quickly so investors may also choose to update them frequently. This can become costly for an investor if they are not maximising their deductions and claiming them correctly.

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Similarly, low-cost assets which have a value below $1,000 when first purchased and low-value assets which cost more than $1,000 in the year of acquisition, but remaining deductions after the first year’s claim are below $1,000, are eligible to be added to a low-value pool. Pooling is a method by which plant and equipment items will be depreciated an increased rate of 18.75% in the first year and at a rate of 37.5% from the second year onwards.

Items which have a relatively low value add up and while bathrooms and laundries are not the only rooms in a rental property where these low cost items are found, it is a place Quantity Surveyors frequently spot them when completing a detailed site inspection.

To examine this further, let’s take a look at some of the deductions a specialist Quantity Surveyor found for a rental property owner in the shared bathroom and laundry area of their property.

In the first five cumulative financial years, the owner of this investment property can claim $2,210 in deductions from their shared bathroom and laundry area alone.

Plant and equipment assets commonly found in a bathroom such as the shower curtains, the hamper and bathroom accessories such as the tooth brush and soap holders all had low depreciable values of $30, $40 and $80 respectively. As these items all were beneath the $300 threshold, the investor could claim an immediate write-off for these items in the first financial year claim.

The washing machine on the other hand was found to have a depreciable value of $1,250. As this value does not meet the criteria for an immediate write-off or the low-value pool in the first or second year, the item must be depreciated based on an individual rate and effective life enforced by the Australian Taxation Office (ATO). However, after the first two year claims have been made the item will fall below the $1,000 threshold and the investor can then claim the remaining years at the increased low-value pool rate of 37.5%. This means, that within five years, an investor can claim $1,055 in deductions for the washing machine alone.

Clothes dryers are another common asset found in the laundry of an investment property which these same rules may apply to, depending on the depreciable value of the particular dryer found on close inspection. This is a good reason to have an expert assess the items in your property for you. A specialist Quantity Surveyor will ensure the maximum deductions for each item found within an investment property are valued and calculated correctly using the depreciation rules available.

Capital works deductions for items found in the bathroom of an investment property pertain to the structural and fixed items. Examples include the bath, tiles, sink, taps, cupboards, the shower and towel rails. Depreciation for these items will be calculated at a rate of 2.5% over forty years so long as construction commenced within the legislated dates enforced by the ATO. In the first five years, the capital works deductions found in the bathroom alone for this investor cumulate to $1,005. The results will multiply as all of the rooms within the property will have depreciation deductions available.

To maximise depreciation benefits, ask for the advice of a specialist Quantity Surveyor and obtain a depreciation schedule. The difference it can make when completing your annual income tax return and the cash flow benefit are well worth making an enquiry.

–Bradley Beer (B. Con. Mgt, AAIQS, MRICS) is the Chief Executive Officer of BMT Tax Depreciation. Bradley joined BMT in 1998 and as such he has substantial knowledge about property investment supported by expertise in property depreciation and the construction industry. Click here for more. 

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Bathrooms Before & Afters Design Kitchens Real Renos RENO ADDICT

Real reno: tired rental transformed into chic owner-occupied abode

After several years of hard time as a rental, this Sydney apartment undertook a major cosmetic renovation when its owner decided to move back in, and the results are fabulous.

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From paint to lighting, window coverings, flooring and storage, the apartment was entirely stripped back making way for a new kitchen, bathroom, laundry and two bedrooms – all in under four months.

“The client wanted a contemporary home with a touch of luxury and she loved black and white,” says interior designer and decorator Anoushka Allum of Smartspace Interiors who accented the monochromatic colour brief with pops of bright colour.

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“We had a generous budget, given the size of the apartment, which allowed me to use premium features,” says Anoushka.

“The bathroom was the biggest concern, as the client wanted a full sized bath and to achieve this we had to remove a wall,” says Anoushka who used on-trend black bathroom fixtures, and a black and white cement floor tile, for a contemporary finish.

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The bathroom layout was altered completely to improve its use of space and to allow for the addition of a bath and storage.

The laundry floorplan was reconfigured and major cosmetic changes were made to overhaul the space too. “I added extra lighting and a colourful yellow splash back to make this windowless area brighter,” says Anoushka.

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The black and white theme continued in the kitchen which features a black counter, white subway tile and the same floor tile as the bathroom, for continuity – TeraNova supplied the tiles throughout.

The shaker-style doors add a classic element to what is an otherwise contemporary scheme and Castlewood Kitchens created all of the apartment’s new cabinetry.

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One major change, that you wouldn’t necessarily notice at first, is the addition of thoughtful storage – essential for keeping the interior tidy and making it seem larger. “The introduction of quality storage in the kitchen, laundry and bathroom improved functionality and allows for an uncluttered space,” says Anoushka.

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Soft furnishings had a major part to play too with the finishing touches providing colour and texture throughout – King Living, BoConcept, Globe West, Forty Winks and La Maison were the main suppliers. Abstract prints, Morrocan-printed wallpaper and touches of elegant grey all worked to transform the space into a stylish, contemporary abode.

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“I added artworks, accessories and soft furnishings and the results were striking. The design has created an impactful first impression which is fun and vibrant whilst still elegant and cohesive,” says Anoushka.

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Outdoor & Exteriors RENO ADDICT

Sure-fire ways to keep your garden alive over the holidays

With temperatures set to reach record heights this summer, it’s important to prepare your gardens for the hot, dry conditions to protect both your investment and home value.

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For many Aussies a huge amount of time and money is spent in creating and maintaining the alfresco areas, so if you’re set to go on holiday, what precautionary measures can you take to ensure your lawn, trees, flowers and shrubs are still thriving when you return?

Here’s what Angie Thomas, horticulturist at Yates, recommends:

1. If you don’t have a neighbour who can tend to your garden while you’re away you should set up a watering system or soaker hose on a tap timer and mow the lawn before you leave, but not too low as longer grass dries out less and stays greener during summer.

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2. It’s important to protect trees and plants by spraying them with a protective polymer spray to reduce water loss from the leaves. Using a soil wetting agent around the root zone in garden beds will help get water where it’s needed by breaking down the waxy water-repellent layer that can develop on soil surfaces.

3. To provide slow release nutrients and limit moisture loss you should spread organic plant food and a 5cm layer of organic mulch on garden beds and around trees

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4. Group potted plants together so watering is easy if someone is minding the garden, and move tender plants into a shaded spot where they will benefit from natural rainfall. Saucers should be placed under delicate potted plants, like hydrangeas, to catch excess water which they can draw on during hot days.

5. Ensure your indoor collection doesn’t wilt by gathering them in a well-lit bath or the laundry sink, water them well and place a wet towel under the base of pots to maintain moisture.

For more information.

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Outdoor & Exteriors RENO ADDICT

Hot property: how to sell in summer

Spring has always been the darling season on the property sales calendar, but summer is hot for sales too—if the timing’s right.

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When is the best time to sell a property? Many people assume it’s spring, but the answer is not a season. The best time to sell is when there’s not much stock on the market. The best sales results are achieved when your property is selling in isolation, not competition.

Summer then, is a great time to sell property, but you need to get your timing right. A lot of ‘new year’ stock comes on the market in February after everyone has had a break and has finally gotten around to talking to an agent. The best time to sell in summer is therefore January, before everyone lists their property.

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There’s a myth that there aren’t as many buyers during summer but, the truth is, buyers are always looking. On a lazy summer’s day people browse property listings and start dreaming of a new life and plenty of new year’s resolutions centre on finding a new place to live. Sellers should take advantage of this.

Want to sell in summer? Follow this schedule:

December

If you’re going to sell in December, the first two weeks is the best window you have before everyone (including most agencies) take a break over Christmas and new year. Buyers will still be looking during the holidays but very few agencies will show a property during this time.

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Otherwise, December is the best time to prepare your property, especially the garden. Lawns need a decent lead time to look their best, so cut and treat the grass so it looks lush by January. Clean the gutters, give the property a lick of paint and declutter. When you retrieve the Christmas tree from storage, it’s a great time to look around and see what you can sell or throw away.

Talk to your agent in December and have photos taken after sprucing up the place but before the holidays so you are ready to list the property in January.

January

List the property and get ready for inspections. If your house tends to heat up, consider scheduling showings for the morning or evening. A sunset viewing when the days are longer is one advantage summer has over other seasons.

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While it may be too hot for baking bread or burning a candle, seasonal scents from fresh flowers or fruit can set a good mood. Have fresh cold water or lemonade on hand to give to visitors.

Summer showings are also an excellent time to play up any appealing outdoor area your property may feature. Set up your deck, courtyard or balcony as an inviting space so buyers can instantly see it as a place for friends and family to gather. Highlight other warm weather features such as breezeways and, if you have one, your pool—which you have cleaned, of course.

February

If all has gone well, you’ll have exchanged contracts by February. If your property is still on the market, however, rest assured that you don’t have to compete for tradespeople and painters and agents to get your property ready.

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If you’re selling at auction, book the auctioneer for late January or early February, giving you enough time to show in January but closing the sale before the rush in February.

In my experience, the best times to sell are before the rush periods. For me that’s August, before the spring listings, and January, before lots of stock comes on the market in February. With a bit of planning, you can get the jump on the summer sales period by listing in January, making it a very happy new year indeed.

Photography by Belle Property Surry Hills

Categories
Architecture Design RENO ADDICT

The future is here with virtual reality display home tours

In an Australian first, Metricon Homes is set to transform the way that people experience and interact with display homes, with the use of virtual reality technology.

Denver 46 – Master BedroomMetricon Homes Denver display home – master bedroom

The virtual display experience will be offered in select regional areas where people face the geographical challenges of visiting a display home. Not only will this save them time but also the inconvenience of travelling huge distances as many people travel interstate to view their future home.

Metricon Virtual Reality head set in use

Virtual reality headset

Consumers can view everything from the colours and materials used on cabinetry through to soft furnishings and light fittings through a virtual reality headset.

“The technology enables our customers to virtually walk through the home and really experience the actual interior. Virtual reality allows you to gaze inside the latest trends and home styles allowing you to select your dream space and colour palette,” says Jacinta Evans, Metricon senior interior designer.

It also allows home designs that are located in other states to be viewed around the country without the need for building a display.

Denver 46 – Vogue FacadeMetricon Homes Vogue display home

“We know consumers love the next-gen 3D virtual tours on our website, so being able to take these to another dimension, using virtual reality technology is fantastic,” says Jacinta.

The first area to experience this technology is Wonthaggi in Victoria’s south-east.

To view the technology see https://youtu.be/vN16M2RZ8k4 or visit Metricon Homes.

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RENO ADDICT

To fix or not to fix (your loan)

Credit

If you’re planning a renovation, just finished one, or you’re right in the thick of one, you may well be re-evaluating your mortgage options. And if you are, you are also probably asking yourself the question: “Should I fix my loan rate?”

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Credit: Three Birds Renovations

There are always questions around fixed and variable rates, because people really want to know what they should do!

Some people take the crystal ball perspective – they try and predict what’s going to happen in the future, but to be honest, it’s a bit like being at the casino table and trying to figure out whether the ball is going to drop on a red or black number. Banks employ rooms full of economists who try to figure this out every day and they still get it wrong!

After: backyard
Credit: Three Birds Renovations

The most accurate (and there’s still plenty of room for error) approach is probably the rear vision mirror view, which is to look backwards at what has happened with rates historically.

At the moment, interest rates are at an almost-60-year interest rate low, which is great for buyers right now. But if you speak to people who were buying houses in the ’80s, they’ll be able to talk to you about the pain of borrowing on rates of 18%. I’m 35 and in my ten-year borrowing life I’ve seen a big fluctuation with rates. One of my first loans sat in the 8 or 9% range and now we are seeing them halve to sit in the 4% range.

With all of that in mind, what looking in the rear vision mirror tells us is that right now interest rates are incredibly low and if it suits you, it is probably a great time to lock in a fixed low rate.

Credit: The Block Shay and Dean's kitchen
Credit: The Block Shay and Dean’s kitchen

The third approach to take is to have a good look at your plans for the next few years and see what is on the radar that may dictate or limit the choices you make about whether or not to fix your rates.

Statistics show that every three years people adjust their home loan. And that’s usually because they are doing something in their life that requires them to make changes to their loan – they are renovating, getting married, divorced, having a baby, moving house etc.

For some people, the certainty of knowing what they will be paying out for their loan every month and that their rates won’t change over the term of their loan suits them perfectly. But for others – especially when you bear in mind the three-year average loan adjustment – locking into a loan may not be the way to go.

You might be planning on flipping the house and buying again, you may want to renovate, you may be planning on having another baby. For whatever reason, locking into a fixed loan might not suit your life at the moment.

Credit: The Block Caro and Kingi's kitchen
Credit: The Block Caro and Kingi’s kitchen

If you do settle on a fixed rate and then decide to change things, the bank will charge you for breaking the contract of your loan. This is called a fixed-rate break cost and it is set at a rate that covers what the bank will lose out on by you breaking the contract.

Something else to keep in mind when thinking about a fixed rate is while you do have the certainty of knowing what you’ll be paying on your mortgage for the term of your loan, a fixed rate means that you will not have the flexibility of a variable loan.

And that means you cannot pay extra off the loan. You can only make the scheduled payments over the life of the loan (although some do give you a capped additional amount, usually around $10,000).

So if you get a bonus at work, or you come in to an inheritance etc, you will be penalised with a fixed-rate break cost if you pay a lump sum into your loan.

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Credit: Rebecca Judd

But the good news is, you can have your cake and eat it too!

You can do this by fixing a proportion of your loan and leaving the balance on a variable rate. That way, whichever way rates move, one half of your loan is always winning. If you are going to do this, have a really good look at what you have planned in the next few years to ascertain the best proportion of fixed to variable.

The final thing to consider once you have decided to fix all of your loan – or just a proportion – is how long you want to fix it for. This is the million-dollar question. Different terms will have different costs – sometimes the longer the term, the cheaper the rate, while at other times, the shorter the term, the cheaper the rate.

Your plans will be a good guide to the length of your term as well. If you plan on flipping your property and buying again, you don’t want to be locked in to a loan and incur a break cost when you sell.

On the other hand, if you plan on renovating and holding on to the property as an investment or as an owner-occupier for a few years, now is probably a great time to lock down a loan at historic low rates, keep your repayments low and maybe even use some of the extra cash you are saving to buy yourself a second property.

— Paul is the director of CVG Finance, a leading brokerage offering financial services across all areas. 

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Design DIY Expert Tips Outdoor & Exteriors RENO ADDICT Styling

Alisa and Lysandra’s top tips for adding value to your sale

Renovating your property and preparing it for a sale means you want to add maximum value for the least amount of money. And whilst we’re all familiar with the usual makeover tips, we go a little further, revealing not only what to do but also how to do it so you can get bang for your buck!

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Not just a lick of paint but the right colour

We’ve heard it many times over; a lick of paint will do wonders for your makeover. Indeed it will but it is important to know what hues to use to maximise the aesthetic potential of your property.

For exteriors we recommend dark hues because they hide imperfections and can accentuate the architectural appeal of your home. A 1950s oval tin shed that would normally need replacing can look remarkably beautiful painted in a dark exterior colour. For a fresh, contrasting look complete it by replacing old worn out doors and windows with new white ones, and you’ve just saved yourself the cost of a new shed!

Create the illusion of space

For a few hundred dollars, you could be adding thousands to your sale price by knocking down a non-structural wall. Buyers are looking for open, airy spaces and open plan living is on the top of their agenda and lifestyle. Can you knock down the wall that’s joining the living room and the tiny kitchen? Great, go ahead and do it and you’ll reap the rewards at sale time.

Landscaping tips and tricks

Backyard
Credit: CVG Finance

A good clean up of the garden is a given, but a good prune is something most sellers don’t pay attention to. How do you feel when you get your haircut? Exactly our point!

We recommend pruning your trees and plants and giving them a generous ‘haircut’ at least eight weeks before sale time. This will not only aid your garden clean up but will help promote new growth just in time for your sale, making everything look vibrant and lush. Selling in a hurry? Get rid of any leggy growth or dead wood and tip prune your plants for an equally effective result.

Front door appeal 

Much like dating, first impressions count and you’ll have potential buyers saying: “You had me at hello!” if you put a little more love and attention into your front door area.

Start by eliminating any clutter from your entrance to allow the energy to flow through your front door (this is a feng shui must). Make sure your front door is functional and in perfect working order. Rust on screen doors is a turn off for buyers and so are wooden doors that have had extended exposure to harsh elements like sand, wind and sun.

Repair or and repaint immediately and why not have some fun updating your front door with a fresh new colour. For as little as $80 and an afternoon’s labour you could be adding a few thousand dollars to your sale price.

Add the shiny things

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Let’s face it, people are like magpies; they are attracted to shiny things!

Add some affordable bling to your home by replacing your old worn out taps with shiny, new chrome ones. Replace a plain tiled feature wall with contemporary tiles that offer textural reflection and lustre. Light switch panels can tend to go yellow over time, replace them with new ones or even opt for a completely new and contemporary light switch panel. Adding large inexpensive mirrors to bring in the light will also amplify your interiors. Finally, finish off by styling your property with luxe accessories which you can take with you after the sale, like copper, mirror, glass or chrome vases, trays and floor lamps.

Change buyers’ perceived value of your property 

Small cracks, dents and damages that you think may not be noticed can in fact play a major role at sale time. As your potential buyers inspect the property these insignificant imperfections, although not major, can still be noticed subconsciously therefore shaping any buyers’ perceived value of what your property is worth. Attention to detail is a must, so make sure that during the makeover you inspect your property with fresh eyes just like your buyer will.

Flooring rule: less is more

With flooring always remember that less is more. Strip back that aged carpet to reveal the natural wooden floor boards underneath; not only will it freshen up your interiors but it will also create the illusion of space by having one type of flooring seamlessly featured throughout the entire home. If you are replacing your flooring opt for simple floorboards, or carpet (if you must). Unless it’s a bespoke property with exceptional quality materials, your flooring should never be the showstopper!

Ask a professional 

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For the affordable investment of a consultation session, you can have all the guesswork removed and save hours of laborious planning if you get the advice of a professional. Makeover blind spots are easy to miss, but with a pair of fresh, expert eyes you can be on your way to maximising the value of your property.

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Design DIY Outdoor & Exteriors RENO ADDICT

Renovating for a quick profit: how to sell the second the paint dries

There’s an art to property renovation, particularly when your focus is on maximising value (which it should be). With most things in the modern age, sometimes you simply don’t have the time or resources to become a master – but there’s nothing stopping you from faking it till you make it. So, if you have a fast-approaching deadline and need to see dollars soon, here are four key considerations that can up your property value without also increasing your wait-time.

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1. Create space

We know that a higher ceiling can rake in a few extra dollars when it comes time to put your property under the hammer, but going for the visually opening abilities of white walls can also add to making the room feel more expansive – it also allows you to mix-up the colour scheme while not setting you back as much time during the renovating process. Mirrors also assist with creating the illusion of space; enlarging an area is a great way to create atmosphere, as well as value.

If working with oddly shaped rooms or spaces, avoid large pieces of furniture that may make the area appear cluttered, and accessorise with asymmetrical rugs and rounded furnishings.

2. Be practical and functional

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Take a quick glance at that spare room: how quickly can you turn it into another bedroom? Buying a secondhand mattress and shifting a few ornaments into the new space could add hundreds to your overall value – after all, a three bedroom home is always going to be worth more than a two bedroom + study.

This is only the case if the space room already exists and only needs a few minor tweaks – if you don’t have this potential, focus your efforts on the key rooms in the building instead. The bathroom and kitchen are the rooms that are most likely to see a return. This doesn’t mean replacing your current kitchen with a brand new one – instead, get quotes to change-up your benchtops or replace the cabinet doors only for a brand-new look for less.

3. Be strategic with your upgrades

If you’re contemplating a new full-length window, take a deep breath and assess the alternatives. While some upgrades – such as a whole wall of glass – can be flashy, they might not actually be the smartest when viewed in terms of utility and value. A discreet, quiet and hidden air conditioning unit might actually achieve the same outcomes you were hoping for in the massive window, it will likely cost you far less and doesn’t have to change the entire vibe of the room. Similarly, ripping up worn carpet and polishing the original floorboards is cheaper than getting brand new ones, and exponentially quicker than knocking down a wall in an attempt to provide more space.

4. Pay attention to the outside, too

If you want some extra eyeballs when it comes to auction day, make sure you’ve ‘curled the ribbons’ on your property – get some extra mulch, make sure the lawn is short and have your plants in order. It sounds niggly, but if potential buyers know you’re attentive to the little things they’ll trust anything bigger has been resolved. Besides, first impressions can make or break a deal.

Happy renovating, and good luck when it comes to auction time!

— Bessie is a property commentator at finder.com.au, one of Australia’s largest comparison websites. She’s passionate about real estate, renovating and helping Australians find better. 

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RENO ADDICT

How does murder affect property price?

This series of The Block

If you’re not reading this out of curiosity (fetching title, isn’t it), then you’re probably either looking at buying a property with a cloudy history, or have already bought one and you’re just finding out about it now. In any case, could purchasing a property that’s been home to a murder kill your property value too?

The short answer to this murder-mystery is yes, at least in the short-term.

This series of The Block
This series of The Block is being filmed at the Hotel Saville where a crime scene once took place

If someone has taken a hit in your local area recently, your potential property value is likely to as well, according to research by finder.com.au. A 2014 study by the University of Technology, Sydney, revealed that properties within a 300 metre radius experienced a 3.9% price drop the year after a murder or sex offence. To give you a ballpark figure, this means a $504,000 property could see nearly $20,000 ($19,600 to be exact) shaved off it’s value following one of these tragic events.

This isn’t the only consideration, either – the second things get real on the streets of your neighbourhood a few key things also happen:

  1. The local crime rate increases, which is never a good thing.
  2. Your ‘walk-score’ may decrease as a result.
  3. Some residents in the area may be spooked and look to sell their property – increasing competition if you just happen to be selling also.

These are all aspects local property owners – or potential owners – need to factor into their property options. You know that your property value is likely to take a hit. So what can you do to brace or adjust for this change?

The Block contestants
The Block contestants

If you haven’t yet bought in the area, but still want to:

You’ve decided to stick with a place in the local area? No problem, just look at ways to improve the property to balance out any potential negatives. Some ideas include:

  • Renovate one of your ‘power rooms’, such as the kitchen, main bathroom or living area
  • Assess your landscaping options: could levelling out that scraggly back lawn provide a new summer entertaining area?
  • Turn the spare room into a studio to let: the rent earned could easily offset the sub-four percent you might lose from the recent loss of life.

The other bonus here is that, by law, real estate agents need to inform you if there’s been a death in your property – this has been the case since 2004. Rest assured you won’t walk into a death-trap unawares.

If you’ve been spooked:

The thought of resting your head where someone lost theirs may be a bit much, and that’s also understandable. A key consideration here is to look at the property regardless and determine exactly what it was that initially drew you to it. Detail what you love about the property and the neighbourhood – and just as importantly, the property prices in the area – and try to aim for a similar set of aesthetic compliments in a nearby location. A bit of flexibility in your house hunting journey can go a long way, and save you money (and headache) in the long run.

— Bessie is a property commentator at finder.com.au, one of Australia’s largest comparison websites. She’s passionate about real estate, renovating and helping Australians find better. 

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RENO ADDICT

Renting vs buying: expert tips

While there is nothing quite like owning your own little piece of suburban paradise, whether to buy or rent depends on your view says Mark Foy, principal director of Belle Property Surry Hills.

mark-foy-reno-addictMark Foy of Belle Property Surry Hills

“For first homebuyers, you need to consider your personal position. If you take a long-term view you will always build equity over time, riding out the peaks and troughs in the market. You can then draw on your equity to invest in more property so you are building wealth through real estate,” says Mark.

But if you are looking for a short-term cash cow, buying is definitely not the wisest move. “We have seen 20 to 30 per cent growth in the inner city and outer suburbs of Sydney over the past couple of years, and the likelihood of seeing the same growth again soon is slim,” says Mark.

It’s good news for many first homebuyers though. “If you are a first timer and you are looking at a long term investment, and by this I mean seven to ten years, you can buy at any time as you’ll ride out the fluctuations in the market,” says Mark.

Darlinghurst_405_138_Barcom_Avenue_Living_Dining One of Mark’s recently sold properties. Photo credit: Belle Property

The wise renter
For those who may be saving for a deposit or simply can’t afford to buy, there are smarter ways to rent. “My advice would be to go for a shared rental. Rent a two bedroom apartment so you can share the costs but still get decent living accommodation,” says Mark who has been surprised by the cost of one-bedroom apartments of late – they often approach that of two bedroom abodes. “I guess it suits the demographic. Single people or couples that are willing to share small spaces seem to have pushed up the price of one-bedders,” he says.

And it may sound odd, but winter is the best time to take out a lease – wait until then if you can. “There are fewer changeovers in winter with more stock on the market. You can generally negotiate a better deal and you won’t be competing with 20 or 30 others,” says Mark.

Paddington_1_Hampden_Street_LivingOne of Mark’s recently sold properties. Photo credit: Belle Property

Advice for first-time buyers
While it is far from glamorous, Mark is a big advocate of saving in order to get a foothold on the property ladder. “Save, save save! Don’t go out to restaurants and really set out a budget as to how you are going to spend your money. You’ve got to be wise when saving for a deposit and if this means taking your lunch to work, or catching a bus instead of a taxi, there are many small ways you can cost cuts. It’s what our parents did,” says Mark who sees credit cards as the enemy of savings. “I would advise against a credit card as if you don’t have a credit card you don’t have the money therefore you won’t spend it,” he says.

Redfern_A903_Bourke_Street_LivingOne of Mark’s recently sold properties. Photo credit: Belle Property

Buying & renting: a mixed approach
If lifestyle is important to you, there is a definite argument to be made for buying an investment property in a suburb that you can afford, while renting in a more desirable area. “In my view, you really want to get in and start somewhere so you can build financial wealth and security. The first property is always the hardest but once you have secured that you can sit on it for five years before thinking about pulling out the equity to buy another,” says Mark of a trend that has been widespread over the past few years.

If you are going to look further afield when it comes to purchasing an investment property, just make sure to consider infrastructure. “If you can’t buy in the inner-city, try and buy along the train line as most people work in the city,” says Mark.

Waterloo_10_1_Danks_Street_LivingOne of Mark’s recently sold properties. Photo credit: Belle Property

Real estate vs shares
While investing in property isn’t the only way to make money, it offers relative certainty when compared to other investment types such as super or shares. “Real estate is tangible and that’s why people like it. Stocks and shares can be lucrative and worthwhile if you know how to buy and sell them and you follow the market daily but real estate is always a good long-term hold,” says Mark.

And with interest rates at historic lows, Mark sees it as a great time to get into property. “Take advantage of the rates if you can and lock them in for a three or four year period,” says Mark who favours a fixed interest rate in times such as now. “They provide a lot of certainty as you can do up a budget and know exactly what your outgoings will be for the next few years,” he says.

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Expert Tips Interviews RENO ADDICT

Video: Andrew Winter’s top tips for selling your home

This video interview with the always straightforward Andrew Winter from Selling Houses Australia is absolutely packed full of seriously great expert advice on selling your home.

Andrew Winter. Image courtesy of Selling Houses Australia
Andrew Winter. Image courtesy of Selling Houses Australia

When’s the best time to sell, when to renovate, when to use an auction and what work’s worth doing, plus his top tip for Interiors Addicts.

Don’t miss this one!

Watch all our other Interiors Addict TV videos.

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RENO ADDICT Styling

How to select a real estate agent

When selecting a real estate agent it’s all about choosing the person who can best influence the price of your property upwards. You need to ask yourself: who can achieve the best result and how are they going to do it?

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Mark Foy of Belle Property Surry Hills

Finding that perfect agent can be hard, and there’s no way around the fact that you have to do your due diligence. So visit your potential agent, go to some of their open homes and auctions and check them off against the below checklist. If they get seven big ticks, then I think you’ve found the one!

1. Buyer relationships and access to buyers

What properties does your agent have on the market in your local area and do they have an extensive network across the country? Select an agent who does a lot of sales in the area but also has a broader network, because more buyers equals more dollars. It’s that simple.

2. Negotiation skills

What quality of questions do they ask the buyers and will they always go back and ask for more money?

One of Mark's recently sold properties. Photo credit: Belle
One of Mark’s recently sold properties. Photo credit: Belle Property

3. Superior local market knowledge

Your agent should be well aware of the buyers in the market place and the properties you are competing against. They should know what properties your buyer has bided on in the past, because then they will know how much money they have to play with.

4. Auctioneer

There’s no point having a good agent if you don’t have a good auctioneer selling your property. It’s so important that the auctioneer is able to keep the auction flowing and build momentum. Make sure you watch the auctioneer in action before deciding to go with them.

One of Mark's recently sold properties. Photo credit: Belle
One of Mark’s recently sold properties. Photo credit: Belle Property

5. Editorial

What reach does your agent have to promote your property in the media? Free editorial makes a big difference and puts you a cut above the rest. It’s going to influence the price upwards and will help get more people through the door.

6. Team operations, customer service and buyer experience

It’s not just your agent that’s representing you, but their team. What’s the dynamic? Who handles the buyers? How many people work your open home? How long has everyone been in the industry?

One of Mark's recently sold properties. Photo credit: Belle Property
One of Mark’s recently sold properties. Photo credit: Belle Property

7. Presentation

How does your agent present your property? Real estate is about finding that feeling, and when you walk into a property you either get it or you don’t. There’s only one first impression. So does your agent have good access to stylists? Do they know what time of day shows your property in the best light? Do they know when bin night is? All these little things make a huge difference when it comes to showcasing your home’s maximum potential.

— Mark is the principal director of Belle Property Surry Hills.