Tag: real estate

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Designers Styling

How to transition from employee to styling business owner

By Naomi Findlay

Do you have a creative energy you just don’t get to use in your current job? How about a love for property and real estate that you need to nurture? If you have a passion for styling homes, building your own home staging business can be one of the most rewarding careers out there.

There’s the creative freedom, working your own hours and dealing with the clients of your choice. In theory, it’s an easy decision to change your career overnight, but I know that the transition from full-time work in a corporate setting to running your own business is a little more complicated than that.

Here are four steps to ensure your transition from working a 9-to-5 to running a home staging business is a smooth and successful one:

Set your work hours

I’ve heard people say that the main reason that they want to run their own business from home is because they can work only when they want to work. It IS true that you can set your own work hours when you work at home but it does NOT mean that you don’t have to have set work hours.

When you have a job that you go to outside your home, you are required to be at that job at a specified time on specified days of the week. When you have a work at home job or business, you need that same kind of structure. You need to set regular working hours. The freedom that a work at home job provides is that you can choose the hours…but you do have to choose!

A ‘hit or miss’ work schedule…or rather, the lack of any work schedule at all, simply will not work. Time is of the essence! YOUR time!

Let your friends and family know your work schedule

The benefits of running your own business mean you can be at home to see the kids off to school and be at home when they get home. You can put a load of laundry in and it can run through the cycles while you are working. But you must enforce a work schedule for yourself and insist that your family and friends also adhere to it.

A job out in the bricks and mortar world tells your family and friends that your time is spoken for during your working hours. When you work from home, expect your spouse to see you as being free to run errands. Your friends will see you as being available for long telephone conversations, lunch or for a coffee catchup. You can see the problem.

The best way to accomplish using your time to your own best advantage with your business is to make a schedule and tell your family and friends what that schedule is. You don’t have to be rude but you do have to be firm. Make it clear to all. “I will be working between 9am and 3pm Monday through Friday. On those days and during those hours, I am NOT available to run errands or take personal phone calls or entertain company.” Then stick to it!

Create your own brand

When running your own business, you need to work on creating your brand. A brand is more than a name or a physical feature, it is the perception that customers have about your product or service. It’s your promise to your audience. In general terms, it’s an idea or image of a specific product or service that consumers connect with.

Whilst in the order of things a logo usually comes first, the trick is to then grow your brand from there. When establishing your brand, first work out what the vision, values and personality of your company are. Consider your audience and define them. What’s their age, gender, occupation, location and personality traits? When doing these exercises, also remember that this is not about defining you or describing what you like, you need to put yourself in the shoes of your potential buyers to see what they desire.

Figure out your competition

In the age of technology, you can do a million and one things to switch up your business and create a unique element of interest that sets you above other home stagers in your area. All that you have to decide is what ideas you are going to pursue!

This could be creating your own YouTube channel where you share advice or film the home staging process of a property. It could be starting a blog to engage your audience and direct traffic to your website. There’s even options like offering warehouse tours and creating an online op-shop for old furniture stock – get creative!

So, are you ready to start your career in home staging? Do you want a flexible career that you are in control of with the ability to earn a multiple six-figure income from. Join me to find out how you can do this and so much more at International Institute of Home Staging’s StartUp Events in Melbourne, Brisbane and Sydney in February and March 2018, to help answer those nagging questions in the back of your mind. Tickets are just $49.

–Naomi Findlay is Australia’s rapid renovation expert, an internationally renowned renovator, award-winning property stylist and speaker.She’s an industry leader in creating healthy wealthy spaces and creating wealth and profit from renovating property. Naomi is CEO of staging company Silk Home and founder and principal of education provider, the International Institute of Home Staging (IIHS).

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RENO ADDICT

Reno Addict is now part of Interiors Addict

A reno by Naomi Findlay

As you know, we are constantly working behind the scenes to bring you new features and to make our content offering bigger, better and different! This New Year, I’m excited to tell you that our former sister site Reno Addict is no more, but fear not, it has been incorporated into this site as its own dedicated section.

We’re always testing and measuring to see what works, and to cut a long story short, it no longer made sense to keep the renovation content separate. There is no doubt that renovation is more popular than ever in Australia and more and more of the general public are interested in reading about it, whether it’s inspiration for a dream future project or that they’re actively renovating their dream home or investment property. That might be a whole home overhaul or simply a bathroom reno.

We know there’s a very good chance that if you’re interested in beautiful homes and interiors, you’ll have at least a passing interest in renovating too. So we decided to bring this renovation content in front of the eyes of our much larger readership here. We’ll still be concentrating on reno content, in fact perhaps now more than ever. We’d still love to see and share your real renos with our audience, so please email [email protected] if you’re proud of yours!

I’ll be sharing more of my own home reno this year. Pic by Jacqui Turk

As well as real reno inspiration, you can expect posts about new products, the latest legislation affecting you and expert advice covering topics like real estate, finance, home staging, health and safety and architecture.

We’ll bring you advice from the big names in the industry like Australia’s Rapid Renovation Expert, Naomi Findlay
A reno by Naomi Findlay

We know renovating can be daunting for first timers (I found this out myself last year!) so we want to demystify a lot of it and help you plan, find the right people to help you, make sure you spend wisely and are happy with the final result for years to come!

We’ll still have columns from ex Blockheads like Julia and Sasha and plenty of real renos

If you have any questions or you’re a reno expert who would like to write for us, please email [email protected]

As always, we welcome your feedback and ideas so feel free to comment below or contact us via the form at the top right of this page! This isn’t the last change for 2018, so I’ll keep you updated when we launch new things!

As ever, thanks for reading!

Jen

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RENO ADDICT

Tax: Landlords can’t claim depreciation under new legislation

Image source: nine.com.au

By Bradley Beer

In one of the most dramatic changes to property depreciation legislation in more than 15 years, Parliament passed the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 before Christmas, with the Bill now legislation.

The new legislation means owners of secondhand residential properties (where contracts exchanged after 7.30pm on 9 May 2017) will be ineligible to claim depreciation on plant and equipment assets, such as air conditioning units, solar panels or carpet.

Image source: nine.com.au

The good news is that there are still thousands of dollars to be claimed by Australian property investors, as there has been no change to capital works deductions, a claim available for the structure of a building and fixed assets such as doors, basins, windows or retaining walls. These deductions typically make up between 85 to 90 percent of an investor’s total claimable amount.

Previously existing depreciation legislation will be grandfathered, which means investors who already made a purchase prior to this date can continue to claim depreciation deductions as per before.

Investors who purchase brand new residential properties and commercial owners or tenants, who use their property for the purposes of carrying on a business, are also unaffected.

Owners of secondhand properties who exchanged after 7.30pm on 9 May 2017 will still be able to claim depreciation for plant and equipment assets they purchase and directly incur an expense on.

To read more about the new depreciation legislation and how this applies to a range of property investment scenarios, download our comprehensive white paper document Essential facts: 2017 Budget changes and property depreciation.

It’s more important than ever to work with a specialist Quantity Surveyor to ensure that all deductions are identified and claimed correctly under the new legislation.

–Bradley Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief Executive Officer of BMT Tax Depreciation. 
Please contact 1300 728 726 or visit www.bmtqs.com.au for an Australia-wide service.

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Expert Tips

What can you do when you buy a house then realise you hate it?

Real estate concept. Keys, money, small house and contract over white.

By Kim Beaumont

So you’ve bought a new house and turns out it’s the wrong one. In fact, turns out you’re not very in love with it at all. Sounds like a ridiculous and unlikely scenario doesn’t it? Regardless, it’s one I found myself in recently. And after googling “I hate the house I bought” it seems I am not alone. There was many a discussion thread of people telling terrible tales of buying a house and realising soon after it was not the home they wanted.

Pic source: 86degreeeswest.com

My realisation came before I even signed the contract. But I have a habit of proceeding with things without really thinking about it until it’s too late. A not so fabulous personal trait I’ve realised about myself. You can spend months, even years, looking for a house to buy and then actually buy in in a matter of minutes. So after searching so hard, how do you get it so wrong?

Buying at auction – I can speak from personal experience about this one. Most houses go to auction and although some houses do get passed in and clearance rates fluctuate throughout the year, many buyers need to be prepared to buy at auction, or they don’t buy.

Auctions can be fraught with danger. It is an ‘on the spot decision’ where you can be competing against many other bidders and the situation has done just that – created a competition whereby the bidder needs to win. This can lead to paying too much for a house or buying house you didn’t really want, you just wanted to win the auction. Sounds crazy but when buyers (aka ME) have been ‘losing out’ at previous auctions, they can get caught up in the need to just ‘buy the house’ especially when they are in with a real chance of winning.

Over it – the waiting game can be very tiresome. With on average 150 homes coming on the market each week during Spring, you would think that there would be many opportunities for you to find the one. But finding the right one can be hard as it may not actually exist. As each house is different you need to re-evaluate each one, what you are prepared to accept and the circumstances of each situation.

Dream vs Reality – there are many a reality TV show now with a property flavour. From The Block to Love it or List It, these shows have given us all an insight into all aspects of the property market. It can leave many of us thinking we can easily buy the worst house in the best street and fix it up (in a matter of weeks) and happily live there forever or easily fix it and move onto the next one. However in reality the ‘Grand Design’ does come at a cost, and takes time. Both of which you may never have enough of to get your house the home you want it to be.

So what to do if you’ve bought a lemon? Well it may not be as easy as making some lemonade and getting the kids to sit out the front and sell it to the neighbours to recoup your costs. It’s not like its a $50 skirt that doesn’t fit and you can just take it back. Or a book you started to read and it’s not really grabbing your attention so you put it back on the shelf to give to Vinnie’s or pass onto a friend one day down the track. This is a house. A major investment both financially and emotionally. This is where you live much of your life. And in my case it’s not just where I live and my life, it’s that of my two small children too. So what to do, what to do???

Sit in it and suck it up – you’ve made your bed, now lie in it. Yes, always a good one and one which is most unhelpful I always find. Normally the advice a mother would give. But sometimes mum does know best and doing nothing is the best option. One of two things will happen. You may find that you don’t hate it that much after all. Once all your possessions are moved in and you’ve sussed out what the best local takeaway options are, you may find yourself feeling more comfortable lying in that bed. If not, sit tight for a while and move on. The market should not have changed that much and if anything (and depending on where you have bought) you may break even or make a little bit without having lifted a finger after 12 months or so.

Flip it – you can be the reality TV show here and be a ‘house flipper’. Which means you do a fairly cosmetic renovation and on-sell it. Even the cost of buying and selling can be offset with the profit made, especially if you have bought in a sought after area. The tricks to flipping are renovating as quickly and as cheaply as possible. Focus on bathrooms and kitchens as they sell houses, don’t look to extend, stay within the footprint of the house and DIY as much as you can.

Renovate it – This is where you can turn your reality into the dream. If that house is just not doing it for you then make it what you want. See an architect or draftsman for a design that enables you to get what you want from a house. Obviously in order to get your money back on a significant renovation you would need to stay there for some time. But if it’s now become more of the house you wanted, there shouldn’t be too much problem in doing that – so sit back, enjoy the dream house and when you are ready to move again you will have made a tidy profit.

So what do I plan to do. Well… I am falling somewhere between flipping and renovating. But regardless of what I do, I need to make it a home in the meantime. And next time round, I’ll be sure to get it right, hopefully!

–Kim Beaumont is a blogger, mum and renovator in Canberra. Follow her on Instagram.

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Expert Tips

The little things that make a big difference when selling

Photo: Reece Bathrooms

There are many things you can do to make sure your home is well presented for sale, and sometimes it’s the small things that make a big impact. There are minor updates you can do yourself that don’t cost the earth, but can still change the look of your entire home.

Here are some tips on presenting your home before you put it on the market.

Garden and landscaping

Australians are fortunate to be able to spend time the majority of the year outdoors, which means many buyers will be looking for a well-presented garden and outdoor area. A garden that is green and lush is desired, so if you have a dying or browning lawn, perhaps decide whether it’s worth putting down some turf or for smaller courtyard areas perhaps you could introduce synthetic grass as a temporary solution. If you’re looking to incorporate more colour in your garden, consider planting some native Australian flowers that are easy to maintain. While tropical flowers are gorgeous, they tend to require lots of work, which may turn some buyers away.

Living room and bedrooms

Another area where people spend a lot of time is the living room. Create an environment that is comfortable, while showing off to buyers what can be done with the space. The best way to present your living room or bedrooms is to add small touches such as cushions, linen, throws and rugs, and there are many different styles that you can go for depending on the current trends and seasons. In a bedroom, a new bedside lamp could make the world of difference.

Photo: Madras Link

Bathrooms

There are smaller updates you can make to your bathroom including adding towels, greenery and other accessories that will make a bathroom feel warmer. If your budget allows, you could add a fresh coat of paint, a new mirror, tapware or door handles that will bring an outdated and dull bathroom back to life.

Photo: Reece Bathrooms

Kitchen areas

If you don’t have the budget to replace your appliances, fittings or fixtures then the next best thing to do is add items like tea towels, curtains or placemats. You could also add other elements like ceramics, recipe books or even some plants. Just make sure that whatever you add is practical and makes sense in the kitchen, and it doesn’t make the space feel too messy or cluttered.

The front door

Don’t forget the entrance and your front door. You could spend a few dollars on a gorgeous set of house numbers, fill garden beds with pots of colour from your Sunday market, and buy a door mat. We want to attract buyers from the moment they step onto your property and make them feel welcome as they walk up towards your home.

–Julie O’Donohue is the founder of start-up Next Address, a real estate matchmaking platform to buy and sell property direct www.nextaddress.com.au

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Expert Tips Outdoor & Exteriors The Block

Block’s Greville Pabst on selling your home in the New Year

Credit: Harrison Landscaping

By Greville Pabst

As many Australians enjoy the festive season and summer sun, the real estate market goes into hibernation. That is until the New Year, when the market starts to pick up again. If you are looking to put your home on the market in early 2018, there are  a few things you can do to make sure your home stands out from the crowd and increase your chances of achieving a successful sale. Here are seven tips on how to prepare your home for a summer sale:

Garden is number one – When looking at a home during summer, many buyers will pay extra attention to the garden and outdoor areas, as this is where they will imagine themselves spending time during the summer. Make sure the garden is well maintained, green and lush, with no dead flowers or uncut grass. If possible, try and incorporate some shady areas in the backyard.

Credit: renoguide.comau

Inspection times – Running around and looking at houses when the sun is shining and the temperature is high, is not an ideal scenario for potential buyers. Try to schedule your inspection times earlier in the morning or later in the afternoon to avoid the heat during the middle of the day.

Inside retreat – The inside of your home should be a cool escape from the outdoor sun. Keep the air conditioning or ceiling fans on during inspection times, or open windows and doors to get a nice breeze flowing through the house.

Credit: Three Birds Renovation

Change up the colours – Remove heavy curtains, rugs and cushions in darker colours, and replace them with a brighter and lighter palette that is more suited to summer. These small things can give the home a completely new look that is more suited to summer and warmer temperatures.

Create an oasis – If you have a pool, this is the time to show it off by making sure it is well maintained and looks its absolute best. During summer, this is a great selling tool and you want it to appear as the perfect summer oasis.

Credit: Harrison Landscaping

Replace the old – Small things that are worth investing in include updating the mailbox, front door, fence and adding a fresh coat of paint to the exterior. This can work wonders for the front of the home, which is the buyer’s first impression. It’s important that the home has great street appeal and looks inviting.

Credit: Heartly Design

Outdoor dining – In Australia, we are lucky to be able to use outdoor areas the majority of the year, and during summer we really want to take advantage of our climate. Stage your alfresco or patio area with furniture to make it appear large and inviting. You want potential buyers to imagine themselves eating and entertaining in the space.

–Greville is executive chairman of WBP Group and one of the buyer’s advocates on The Block. He is a regular commentator on Sky News and the daily papers such as Herald Sun, the AFR and The Australian, helping everyday Australians make better property decisions.

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Design Expert Tips RENO ADDICT

3 reno tips for selling your property this spring

Storage and more storage. Photo credit 306/417 Bourke Street, Surry Hills represented by Belle Property

As the weather gets warmer it’s time to highlight the best renovations that will see you attract interest and win over buyers. Keep in mind that as we head into summer, people think about spending more time outdoors and that some of the things you can get away with in winter, become essential to fix when the market heats up.

Light it up

You can make a dim room look cosy in winter but as the days get longer, getting in enough light becomes crucial to nailing a sale. If a room can be improved by introducing more light—whether that’s enlarging a window, removing a wall, or adding a skylight—do it.

Also consider where shadows fall at different times of day. You may already have an instinct about what time might best represent your property: do you have bright mornings or stunning sunsets? Schedule an inspection at the optimum time.

Light and bright. Photo Credit: 1/102 Albion Street, Surry Hills represented by Belle Property

Some rooms need light more than others, so if you’re on a budget focus on bringing light into spaces where people gather during the day, like the kitchen, dining and lounge rooms. Bedrooms look nice with natural light but because they are used mostly at night it’s not nearly as important.

Show some space

You might get away with relabelling a poky property as ‘intimate’ in colder, less competitive seasons, but in spring you need to lift your game and open up the space. Older style properties are often made up of many rooms, which makes the property come across as poky. Combining a couple of these spaces to make it open plan will definitely improve what buyers see. Space is something buyers look for subconsciously, so if you can increase the feeling of roominess, that will help your place sell.

Storage and more storage. Photo credit: 306/417 Bourke Street, Surry Hills represented by Belle Property

Also consider if there is enough storage. If your renovation can add storage without cutting into the floor space —think high and low— then that will make the property more attractive. And if you haven’t done your spring cleaning, do it before you show your property, as clutter is a big turn off. Better yet, move out and let a property stylist bring in furniture that fits proportionately and shows the space at its best.

Private property

A sense of privacy is another element that’s largely subconscious but makes a huge difference to how comfortable buyers feel in a place. It helps if you can’t see the neighbours and vice versa, but if you can, make sure your reno addresses this. Consider screens or awnings that don’t block the light, or fittings like frosted windows or glass bricks that let in light but reduce visibility.

This also goes for backyards, especially if you have a terrace that opens up to a back area such as an entertaining deck or a garden. Use hedges and other natural elements like bamboo screens, wood fences or living walls to disrupt the line of vision but maintain that outdoorsy feel.

Urban oasis. Photo credit: 164B Bourke Street, Darlinghurst represented by Belle Property

Sellers often think buyers are primarily influenced by size and location, but these factors only serve basic needs. What will make a difference is how the property feels and that intangible feeling is based on light, space and privacy. Ensure your renovation improves those three things and you’re set for a competitive selling season.

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

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Expert Tips RENO ADDICT

10 of the best online tools to help you plan your renovation

In partnership with Latitude Financial Services

As most of you know, I’m knee-deep in renovations at my house, so I thought I’d put together a list of handy online tools to help you plan and execute yours! I hope you find them useful.

Hipages

If you know tradies or have handy relatives, lucky you! I do not! When it comes to getting a job done at my house, it’s a bit like the blind leading the blind with my husband and I. This is why I love and use Hipages all the time. You hear so many horror stories about cowboys, that you want to feel secure you’re not being ripped off by rogue tradies. Hipages puts you in touch with three licensed trades for three free fast quotes for your job, whether it be painting, paving, garden maintenance or window-cleaning (I have personally used Hipages to find someone for all four things and more!). The best bit is you get to see their ratings and recommendations from other users. And Hipages make sure they are licensed for you. One less thing to worry about. I have hand on heart had nothing but good experiences hiring trades via this site. And there’s an app too which make it even easier. And in case you were wondering, the ‘Hi’ stands for home improvement! Get the app.

Beaumont Tiles’ What’s My Style app

Beaumonts What’s My Style helps identify your style from the top 10 global interior design trends based on your personal tastes and responses to a two-minute quiz. It’s like having your own personal stylist to help you nail the current trends with complete confidence, no matter your budget. It then recommends an on-trend style guide to achieve your designer look, of must-haves for each room including colours, stand-out furnishings, signature fittings, tiles and bathroomware, all curated to evoke creativity and design flair. Get the app.

Latitude Financial Services website

Latitude have some great online tools to help you work out which loan or card would work best for you and your circumstances. There’s also a personal loan repayment calculator and a handy budget planner to make sure you don’t borrow more than you can comfortably afford. Visit Latitude’s website.

If you’re thinking about financing your reno but worried you might get in over your head, check out this video with Jen and Jess Aloi from Latitude. It contains some great advice about how to borrow responsibly.

Reece Bathrooms’ 3D Planner

Reece marketing manager Belinda Geels said that making the bathroom design experience as easy and visual as possible was key to this online tool’s development. As well as allowing users to select from the entire range of Reece bathroom products and preview how they’ll look, the 3D Bathroom Planner also lets you choose fittings, lighting and tiles to complete the look. Read more.

Here’s a short video about how it works:

The Houzz app

This one’s all about inspiration! Browse more than 14 million high-resolution photos of home interiors and exteriors. Choose by style, location or room, such as kitchen or bathroom. Save and share photos with friends, family and home professionals and then even use the Sketch feature to annotate and draw directly on photos from Houzz.  What’s more, you can connect with over 1.5 million active home improvement professionals, including architects, general contractors, interior decorators, repair professionals and more, to find the right person for your project. Get the app.

Findanarchitect.com.au

This tool, from the Australian Institute of Architects, helps you find the right architect for your job. There’s also lots of information on what architects actually do and why you might need to use them. Visit the site.

Naomifindlay.com

Naomi Findlay is Australia’s rapid renovation expert and a regular contributor here and on our sister site Reno Addict. Check out her site for free downloads, advice articles and to find out when she’s next speaking at a city near you. Visit the site.

Taubmans’ Paint Planner Tool

The Taubmans Paint Planner is designed to do the thinking for you. It will put together a customised list of everything you’ll need for your paint project; from what materials to buy to how long it will take. You might be surprised at how quickly your room can be transformed! There’s also online colour charts (although these should be sued as a guide only), painting tips and a paint calculator. Check it out.

IKEA Place augmented reality app

Coming soon, this app from IKEA will let you visualise what furniture will look like in your own home. We think this will be particularly useful when designing your open plan spaces. Read more.

Pinterest

And last but not least, I can’t finish an article about where to go online for help planning your reno without pointing out the obvious! Pinterest is, in my view, the best starting point for inspiration and getting ideas. You can use this on desktop or download the app. And it’s great for creating your own online moodboards which you can easily share with others. Visit the site.

***

We hope you found this guide useful. Let us know in the comments if we’ve missed any great online tools!

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The Block

Buyer’s advocate shares his thoughts on The Block auctions

He successfully snapped up Josh and Elyse’s winning house for comedian Dave ‘Hughesy’ Hughes at the weekend. Now buyer’s advocate Greville Pabst shares his thoughts on the auction results and the series overall.

Season 13 of The Block has been filled with drama from day one and Sunday’s auction was no exception. Five beautiful homes went under the hammer, as many potential buyers gathered to try and get their hands on a great piece of real estate. The dream family homes are perfectly located between the Elsternwick and Ripponlea villages with public transport, restaurants, cafes and also one of Australia’s best schools, Caulfield Grammar, within walking distance.

Greville Pabst successfully bid on Josh and Elyse’s house for his client Dave Hughes

Bidding at auction can be very nerve-racking, hence these days more and more people are seeking advice and lead from a buyer’s advocate like myself. A buyer’s advocate can guide a buyer or seller through the process in order to get the best possible outcome. This season, every one of the homes was purchased by a buyer’s advocate, bidding on their client’s behalf. My client was the wonderful Dave Hughes.

The auctions were off to a great start and I was able to place the winning bid on the greatest house of them all, Josh and Elyse’s, which Hughesy was very happy about. Josh and Elyse’s, or now Hughesy’s house, is located on the best spot of them all being a corner block facing north, with the smart roller garage door that opens onto the backyard, an impressive hallway with soaring high ceilings and solid hardwood floors. To top it all off, the Dave Franklin designed garden with plunge pool is simply stunning. I actually expected it to go for a bit more, so we are both happy with the final price.

The second house up for auction was Jason and Sarah’s, which also received a great result. When I brought buyers through the houses in the lead up to the auction, houses one and five were the most popular. I’m not surprised that they ended up in the top two with Josh and Elyse being the winning couple.

After the first two auctions, tensions increased when Sticks and Wombat reached $130,000 over reserve. The bidding continued to slow with a thin buying pool, so I’m not surprised that the remaining houses did not reach a better result. I’m actually more surprised that Ronnie and Georgia’s house was the only house that got passed in.

The past weekend was one of the busiest auction weekends in Melbourne history, with over 1,100 properties up for auction. This made the competition even harder, especially when five houses in the $2.5+ million price range are being auctioned back to back. It doesn’t normally happen, and if the auctions would have been staggered over a few months, we would likely have seen more competition and higher results.

Taking a quick look at the results of last year’s season, we can see that the auction order has a huge impact on the result, with the winners being the first ones up for auction two years in a row. 

Greville Pabst

There are many variables when placing the winning bid on auction day, here are just a handful of my tips and tricks:

  1. Before the auction, it’s important that you have all your financials sorted and have set a clear budget. It’s good to have an uneven number as your final limit, as it would be very frustrating to lose a property for just a couple of thousand dollars.
  2. During the auction, make sure you have a clear view of the auctioneer and can keep track of each bid that comes through to have good eye contact.
  3. Stand in a position where you can see your competition and be able to read their body language, it will reveal more than you think.
  4. Sometimes it’s all about the timing and knowing when to enter the bidding, when to pause, hold back and when to walk away. I tend to sit back and get a feel for the competition before making my first bid.
  5. An auction can be very nerve-racking, but the more prepared you are prior to auction, the better you will feel during the auction. Keep a relaxed face, show confidence and don’t let the opponents know your limit.

It’s been a great season of The Block and I’m very excited to see the transformation of The Gatwick coming up in 2018…

–Greville is CEO and executive chairman of WBP Group and one of the buyer’s advocates on The Block. He is a regular commentator on Sky News and the daily papers such as Herald Sun, the AFR and The Australian, helping everyday Australians make better property decisions.

Categories
Expert Tips The Block

Block’s Greville Pabst shares tips ahead of Sunday’s auctions

Greville Pabst

By Greville Pabst

This season of The Block is about to come to an end, but we still have one main event left before we say goodbye to the beautiful houses on Regent Street in Elsternwick. The contestants have been working very hard for three months to save five houses from demolition and transforming them into dream properties.

If you are thinking about selling your home, there are a few things you can do to make sure you get the best possible outcome on auction day. Here are 10 tips and tricks you should consider before putting your home on the market:

Restore the old: The front part of the houses on The Block are old period homes and the contestants have done a great job in restoring these original details that have a charm that can’t be replaced, such as fireplaces and crown moulding. Hannah and Clint have even kept the bulky old-fashioned light fittings, but given them a modern touch that ties in well with the period charm.

Add more light: Many of the contestants have done this really well by making the most of the natural light. I was impressed by the large cathedral ceiling and skylight that Sarah and Jason added in their hallway, as it gives you that wow factor and also creates a bright welcoming feeling as soon as you step through the front door.

Jason and Sarah’s light-filled hallway

Fresh curtains and blinds: The sun can easily make the colour fade and it is a quick DIY job to install some new modern ones.

Replace outdated fixtures: A quick, easy and cost-effective fix that will make a huge difference to the look of the house, is to replace old doorknobs and handles. Such a simple change in the kitchen and bathroom can make a massive difference.

Light zones: In four of the five houses, the kitchen, living and dining area is one large open space. Ronnie and Georgia took their open area and created a different mood in each zone by using clever lighting. Carefully planned lighting creates space and purpose to an area.

Bathroom updates: Whitening the grout between bathroom tiles will make a noticeable difference and instantly make the bathroom feel more fresh and clean.

Refresh and repaint all doors: It is particularly important to pay attention to the front door, as this is one of the first thing a potential buyer will see when walking up towards your house. You can make an impressive entrance just by repainting the door and updating the door handle. Jason and Sarah added a beautiful double door, while Hannah and Clint painted their door in a light pink. Have a look around the street you’re in and see what is suitable for the street appeal.

Hannah and Clint’s front door

Replace old yellowing electrical covers: While you’re at the hardware store, pick up some fresh, bright new covers for your light switch and power point covers – throw out the old yellowing ones covered in dust and the kids’ fingerprints. Again, this is quick, easy and cost effective, and will make the house look fresh and modern.

High pressure clean: Make sure to clean the house properly before inspection. And remember, it’s not just the inside that matters — a high-pressure clean of the driveway/paved outdoor area can make a huge difference.

Landscaping improvements: More often than not, an auction is held out the front of the property. This is where first and final impressions happen. Make sure you have trimmed the trees and bushes and cut the grass to make the property inviting. All the contestants restored the period features of the front properties, except Ronnie and Georgia, who gave it a more modern look by painting their house black and adding tiles to the veranda. 

Ronnie and Georgia’s bold facade

With the auction only a few days away, I am sure the contestants are getting really excited (and nervous) about the outcome. There is nothing like The Block auctions — anything can happen!

–Greville is CEO and executive chairman of WBP Group and one of the buyer’s advocates on The Block. He is a regular commentator on Sky News and the daily papers such as Herald Sun, the AFR and The Australian, helping everyday Australians make better property decisions.

Greville Pabst

The Block auction is on Sunday night at 7pm on Nine. We’d love to know who you think will win and why? Please comment below!

Categories
RENO ADDICT

Auction vs Private Treaty: Which is best for you?

Selling your home is stressful. There’s a lot to consider, from choosing the right agent to staging your home. In such a competitive marketplace it can be difficult to weigh up what is the best way to secure the highest price for your property, so comes one of the hardest decisions of all: auction versus private treaty? Justin Ferguson, Founder and Principal of Ferguson Property Agents, shares the pros and cons of these two popular methods.

Willoughby home listed by Ferguson Property

Auction

Pros:
• Flexibility: As the property owner you have the ability to choose the date of sale, settlement date and make sure all the terms suit you.
• More security: Provides the protection of a reserve so your property won’t sell unless bidding reaches a pre-agreed level.
• Win-win: Both buyers and sellers can work towards getting a result on auction day, which means the vendor can get a premium through spirited competition.
• Spoilt for choice: The option to sell your home one of three potential ways: prior to auction, auction day or through negotiation.

Cons:
• Higher cost: In terms of a marketing budget and other unprecedented costs.
• Personal preference: Some buyers may not like the auction process and could be deterred from viewing your property.

Private Treaty

Pros:
• No rush: Provides more time to consider offers from multiple buyers. This is suited to sellers who don’t have the urgency to sell.
• Privacy: The ability to withhold certain information from the general public.

Cons:
• Uncertainty: Subject to a cooling-off period where the buyer could change their mind.
• Lengthy: No specified end date means it may take much longer to sell your property compared to selling it via auction.

For more information.

Categories
The Block

The Block: Jason’s big dob & buyers’ advocates ruffle feathers

Last night on The Block. Oh. My. Goodness!

The contestants have some awkward conversations at Bang Bang after the dobbing incident!

The big dob and a $10k reward

So Jason dobbed on Josh and Elyse for having a gas stovetop too close to the Caesarstone splashback which didn’t meet code. Not only were they told they had to replace it with induction, the judges took half a point each off Josh and Elyse, bringing their score equal first with Jason and Sarah. And then Scotty awarded the underdogs $10,000 for coming joint first. Dobbing really paid off for Jason and Sarah! But AWKWARD!

The buyers’ advocates don’t hold back

Then it got worse, with buyers’ advocates Greville Pabst, Frank Valentic and Nicole Jacobs doing a tour of the houses and giving their opinions and they didn’t hold back, ruffling more than a few feathers. While most of the feedback was positive, some of it was definitely not! Let’s recap!

Nicole said Jason and Sarah needed to pick up the luxury in their master suite. Greville said they’d missed the mark and it was almost like the downstairs was done by someone else.

Nicole thought Hannah and Clint’s three fridges would be bad for the power bill. Greville also noted the too-small fridge.

Greville would have preferred Ronnie and Georgia’s formal loungeroom to be a home office and he didn’t think the hidden TV had been well executed.

Then it came to Sticks and Wombat. Neale Whitaker may have called their aesthetic ‘raw luxury’ but the buyers’ advocates had more than a few issues with it. Greville thought they’d missed the mark and had an identity crisis. He said there were too many contrasting styles, it was too blokey and they needed to make some urgent changes and soften it to appeal to more buyers. Nicole thought the bedroom was a little confused with several periods in one room. Frank said the bathroom was probably too big, making the second living space too small. Nicole said the buyers would either love or hate the kitchen and that she probably didn’t have a buyer for their house. Greville said he didn’t want to show his buyers their house at all. But he did say it was redeemable.

And Josh and Elyse? No negatives at all, it seems!

Personally, I maintain that the buyers’ advocates have a really useful role to play on the show and it looks like Sticks and Wombat are going to take their feedback on board, hopefully to their advantage.

Greville Pabst

Here, Greville (CEO and Executive Chairman of WBP Group) recaps his opinions on each house from last night…

This season of The Block we are seeing beautiful period homes being renovated in Elsternwick. As you all know, I have a passion for established housing, not just because of it aesthetics; it time and time again returns greater capital growth to my buyers.  

It has been a long time since we have seen houses being renovated on The Block, which makes this season extra exciting. Traditionally, period houses have high ceilings, wide hallways and beautiful cornicing detail. Seeing these features brought back to life again in an area with many heritage listed homes is really inspiring for the home renovator.  

The Elsternwick area is quickly becoming more popular and we have lately seen many people move to the are from neighbouring suburb, Elwood, due to house prices having a lower asking fee of approximately 10 per cent for a larger block of land.  

The Block houses are perfectly located just a short walk to two shopping strips, Glen Huntly Road and Glen Eira Road, where you will find two of Melbourne’s best restaurants, Attica and Bang Bang. The proximity to cafes, shops, the Ripponlea Gardens and public transport will increase the value of the properties.  

There are good schools in close proximity, including Caulfield Grammer and Wesley Collage, which makes Elsternwick a good investment area for families.  

Last night on the buyer’s jury, the contestants received my true opinion on the renovations completed to date with the aim to help them reinvigorate these old houses — reaching their full potential. My job is to advise on exactly what a buyer expects to see in a property of this calibre; my eye is scanning the finishes, layout and quality of materials. Everything needs to be perfect to get the big dollars on auction day.  

Ultimately, Ronnie and Georgia scored best from the judges (by half a point!) and won $10,000.

House 1 – Jason and Sarah  

Kitchens sell homes and in my opinion Jason and Sarah nailed it in this room. They have incorporated beautiful integrated appliances, which creates a sleek modern look that many buyers are looking for. I also love the mix of materials in their kitchen island where they incorporated both stone and natural materials like timber.  

Walking up the stairs to their master bedroom, unfortunately this luxe feeling disappeared. The master suite was not well executed and it felt like it was done by someone else as it did not match with the high-end finishes in their downstairs area, but if they go through this room again, it can easily be fixed with a better choice of materials to match the downstairs rooms. 

House 2 – Hannah and Clint 

This couple has gone for a luxe feel that I think works quite well throughout their entire house. They were the only couple who created a division between the dining and living rooms, which is a trend that is currently occurring in modern design.  

The main thing that I believe this couple will have to replace straight away is the tiny fridge and freezer they have chosen in their kitchen. The house has five bedrooms so this tiny fridge is a disaster and it will not accommodate the people living in this house.  

House 3 – Ronnie and Georgia 

Lighting is critical these days, especially in large homes with an open floor plan. Dividing up lights can make an enormous difference in creating mood from zone to zone, and Ronnie and Georgia managed to do this really well in their kitchen, living and dining area. This is one large space that has a nice flow and is perfect for a family, but they have still managed to make it feel like three separate areas each with a unique functionality and feel. The concrete island is a huge trend at the moment and they have created a modern kitchen that not only is beautiful but also practical.  

I was not so impressed with their second living area, the idea in theory is good, but the concealed TV and theatre room has not been executed very well. To be honest, this property would be a more attractive listing if this space was created to be a home office, because apart from the small alcove next to the kitchen, there is no space to work from home.    

House 4 – Sticks and Wombat 

Walking through this house I just felt that they are going through a bit of an identity crisis and have still not figured out their own style 100 percent, nor who their potential buyer might be. At the moment, there are too many contrasting styles, including Japanese, contemporary and masculine – it’s a real blokes’ house.  

Looking at the rooms they have finished so far, I am worried for the guys. Their place has tons of potential as all their finishes are excellent, but they need to simplify the overall flow and incorporate some softer elements in order to make it more presentable. The foundations are there and if they take the feedback on board I will change my view on taking my buyers through.  

House 5 – Josh and Elyse 

This is the only couple who have a proper study in their house, demonstrating a deep understanding of potential buyer needs. A home office trumps an extra living area any day in today’s market, as many professionals tends to work from home a lot.   

I also really enjoyed the beautifully executed kitchen, living and dining area that has a really nice flow and luxe feel. The only thing that could have made this space a tiny bit better is if they would have chosen an integrated fridge and freezer instead of a freestanding one that can come across as a bit bulky.   

I am more excited than ever to see how this season plays out, with the houses being over 300sqm, the kitchen alone being about 20sqm, they are one of the best in The Block history.  

It will be very interesting to see how the contestants hard work pays off on auction day. Many rooms are yet to be revealed and we all know that it is not over until all the tools are down.  

More Block coverage.

Categories
Interiors Addict

New property book reveals expert’s secrets to selling for more

Next week sees the launch of a fantastic book for anyone looking to sell their home for more, from renovation guru Naomi Findlay, one of our Reno Addict resident experts. What’s more, all profits from the book will go towards building a school in Cambodia. We have 20 books to give away too, but more on that later.

People pay thousands for Naomi’s renovating and home staging courses but you can grab all the best bits for yourself for just $29.99! Sell Your Property for More Money reveals top secrets to staging your home for sale. With Australian property prices generally rising this year, successful home staging opens up opportunity for owner occupiers or investors to increase their sale price substantially with small amounts of effort.

Just quietly, Naomi shared all her tips with me when we sold our apartment last year, for a block record no less! And I was proud to write the foreword for this book.

With the Australian property market in such good health and the RBA expected to keep interest rates on hold for the foreseeable future, more Australian families are considering selling their home for a variety of reasons. But getting the most for your property isn’t just down to the agent you pick. Popular TV shows such as Selling Houses Australia and The Block give a graphic illustration of just how much proper home staging can add to the value of a home.

It’s essential that vendors put time and effort into presenting their property in the best light, but many don’t know where to start or think it’s too hard and expensive. Contrary to popular belief, it is easier than they might think and some of the smallest changes can go a very long way. And Naomi is well qualified to tell them. Not only does she own successful staging company Silk Home, she also runs the International Institute of Home Staging. She’s renovated over 100 properties and staged more than 1,000 through her businesses.

“There is one thing in common that all vendors have—they want to get top dollar for their property. Achieving that is what is perceived to be the hard part,” explains Naomi. “Sell Your Property for More Money reveals the tips and tricks that will turn your property from average to amazing. The advice is relatively simple to follow. A successfully styled home will have buyers emotionally connecting before they start to consider the home from a functional or structural perspective. It could add tens of thousands of dollars to the value of your home.”

Naomi, who is the creator of the Rapid Renovation Formula, says real estate agents and property stylists will also find the book useful.

It includes tips on decluttering, the rooms that need to be accentuated during sale, understanding which areas need to be upgraded or renovated, styling tips including what to do with furniture and artwork, and opening up space. There is also has a handy section on commonly asked questions, gathered from Naomi’s numerous stage appearances and client staging projects.

All profits from the sale of Sell Your Property for More Money will go towards a Rapid Renovation Formula-sponsored school in Cambodia that is set to break ground in 2018 in conjunction with United World Schools.

Order your pre-launch signed copy online.

WIN

For your chance to win one of 20 copies, enter your details below and tell us in 100 words or less why you need this book! Entries close at midnight on Friday 18 August 2017.

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Categories
RENO ADDICT

How to make your reno family-friendly

How to make your reno family-friendly

Live in a family-oriented neighbourhood? Buyers want properties that are ready to move into. Here’s how to make your renovation appeal to them.

You’ll rarely meet a buyer with a family who wants to go through the stress of moving and then the complication of renovating their new home. That’s why making your property family-friendly can be a nice selling point.

An easy way to find out if your property is a good candidate for a family-friendly reno is to walk the neighbourhood and note how many other families are in the area, for example parents pushing babies in strollers, infants playing in the park or teens hanging out at the local shopping centre. A surefire sign is the presence of in-demand daycare centres and sought-after schools.

If you’ve decided to make your reno family-friendly, here are six things to consider.

How to make your reno family-friendly

How to make your reno family-friendly

1. Sensible sightlines

The more visibility you have between common areas, the better. Being able to see between spaces like the kitchen and living room and courtyard or backyard means parents don’t have to hover over children like a helicopter to supervise when trying to do household chores.

2. Think safe

All proper renos should be safety compliant already, but there are a few extra things you might like to add when trying to make it appeal to families, especially those with young children. Cover all the low-height power outlets, for a start, and see if you can soften sharp corners, for example rounding off benchtops when you’re redoing your kitchen. If you have a yard, make sure your fences are low enough so small children can’t fit underneath—you’ll be surprised at the spaces they’ll try to get through. If you have a pool or water feature, install a sturdy barrier around it.

3. Level access

Level access means usable space and the more space you can offer a family, the more appealing your property becomes. If you have a yard on a slope, consider a deck on stilts to create a space to entertain or an area for kids to play.

4. Kids quarters

When you have kids, it’s very easy to let them take over the house with their toys, clothes and books spread throughout every room. The solution is to create a dedicated kids area, whether that’s a separate playroom you can close the door on when the mess gets too much (though ideally with sight lines from other rooms so you can supervise), or a niche in your living room that has easy-to- use storage for toys etc. If you have one bathroom, adding a second bathroom with a bathtub is a great reno idea to attract families so the adults share one and the kids the other.

5. Good grounding

Think carefully about your flooring surface. I recommend floorboards instead of carpet as it's easier to clean and carpet wears out quickly when you have kids, but you also need to consider grip for safety. If you’re keen on carpet, do some research into durable materials.

6. Showing kids’ rooms

One rule I emphasise again and again when showing a property is to neutralise the space. The only time I think you can break that rule is with kids rooms—whether they’re bedrooms or playrooms—where ‘the brighter the better’ is my recommendation: it is absolutely okay to show you have kids. But while you don’t have to make kids’ areas as sterile as a showroom, it’s a good idea to get rid of unsightly clutter before inspection. After all, you want your buyers to see a tidy, family-friendly place so they can aspire to that dream.

If buyers with families are a key market for your  area, definitely consider making your renovation a family-friendly one to appeal to that demographic.

Mark Foy is an award-winning and experienced real estate agent, one of the Directors of Belle Property Surry Hills in Sydney and our resident expert on all things buying and selling.

Categories
Expert Tips Styling

Home staging: is it really worth it?

By Naomi Findlay

You’ve no doubt heard the phrase ‘home staging’ being thrown around the real estate industry recently. For those unfamiliar with the concept, it’s essentially styling (or staging) a home for sale. No doubt you’ve got a couple of questions. Is it worth it? Does it get results? And why exactly should you spend more money on a property you are trying to sell?

Money well spent

A staged property will present in a way that makes it more visually appealing which often will result in more people coming to the open houses, a higher selling price and a shorter sale period.

Data collected and analysed by the International Institute of Home Staging showed that in 2016, a staged property yields an average increase in sale price of between 10% and 15%. This means that a property that was originally valued at $500,000 has the potential of selling for $575,000 after it has been staged by a professional home stager.


Hire a professional

A home stager isn’t just anyone. So many people see the work home stagers do and think ‘I could do that,’ and they aren’t wrong. While they could create beautiful spaces repeatedly, they don’t always have the knowledge, skill or time it takes to become an expert home stager and get professional-level results. Many people assume home stagers are house fluffers or interior designers but a true professional must have extensive knowledge of the real estate market on national, state and local levels. They must know what price properties sell at in specific areas and why they sell at the price they do. Also, they must know about current design trends and the enduring, evergreen ones that show off the best aspects of a property for every possible target market. Professional home stagers should also know how to minimise a property’s low lights.

Is it worth the investment?

A quality home staging project can be an investment. Like many areas in life, if you want an amazing experience with amazing results you are going to have to make an investment. However, as of 2016, the average investment on home staging was between 0.4%-0.75% of the estimated property value. So, you are investing less than 1% of the minimum price your property will sell at to have it sell for more money! It’s a no-brainer really. *

In 2016, on average, for every $1 spent on home staging, the property owner received a return of $20. That means that if you spend $4,000 on a home staging project you could receive a return of $80,000. That is $80,000 that you didn’t have before and can put towards another property investment or into some amazing new furnishings in your new property. *

The market reality

Home staging has changed the real estate market and has changed the standard a property must be presented at to get a high return on your investment. Investing in a professional home stager takes away the stress of having to present your property for sale yourself and gives yourself the highest chance of selling for the highest possible price in the shortest timeframe.

* Data from Silk Home  and International Institute of Home Staging

—Naomi Findlay is Australia’s rapid renovation expert, founder of Silk Home and the International Institute of Home Staging.

Photos of staging by Naomi and the Silk Home team.

Categories
Outdoor & Exteriors RENO ADDICT

How to make your outdoor space a must-have for buyers

How to make your outdoor space a must-have for buyers

Whether you have a balcony or a full backyard, a renovation that makes the most of your outdoor space can help to sell a property. An unloved outdoor space is rarely itself a deal breaker for a property sale but it can leave potential buyers with a bad impression. A well thought-out outdoor renovation, however, can completely transform how people see themselves in the space.

How to make your outdoor space a must-have for buyersImage source: Inside Out

First impressions – Start with the entryway to the property. If you have a front yard, make sure it is tidy and the path to the front door clear. A lick of paint won’t go astray if you have time to spruce up the fences, door frame and door. Consider whether older balustrades just need a coat of paint or need to be replaced altogether. Beware of wood rot, for example in the floor of your front porch; you need to replace affected areas. A nice-looking mailbox is inexpensive and makes a positive impression so if you have one that’s a bit drab, consider changing it. Apartment owners usually have a strata-appointed gardener maintain the outdoor areas. If there’s anything specific you want them to attend to, you can contact your strata manager to discuss what duties can be prioritised.

Cover up – Whether you have a balcony, deck or yard, a covered area shielded from the sun and protected from the rain is always a plus. If you have quite a big yard to work with, a covered area with an outdoor table and chairs as well as uncovered areas like a garden and lawn work well as different zones.

The entertainer – The biggest change I’ve seen in property over the past few years is a buyer preference for kitchens that flow into living and dining areas inside and out. Buyers like to see themselves entertaining there, and they are more likely to consider your property if you already have the access and amenities. If you have a closed-in kitchen, or if your outdoor area is difficult to access from your living/dining space, consider knocking down a wall. It might cost tens of thousands of dollars to open it up, but this change will add hundreds of thousands onto the sale price. The buyers that appreciate this arrangement tend to be families because it makes it more affordable to entertain at home, plus children can run around the backyard while parents supervise from inside the house.

Garden variety – Mature gardens are worth a lot of money so if you’re thinking of renovating the whole house, do the garden as soon as possible (preferably first!) so by the time you finish, the plants are somewhat established. Use plants to soften some of the harder structures like fences and deck edges and do your research to find plants that suit your locations climate. The larger and less established the yard, the more you’ll need professional help so if you can afford it, bring in a landscaper.

Nice-to- haves:

  • Level up: Level land is worth more than slopes so if you have a chance to buy some space by underpinning, it will make a huge difference.
  • Make a splash: A nice, clean swimming pool enhances a property so if you have the space and your location has the right climate, it’s worth installing, keeping or updating one. If you have a tiny backyard however, it’s best to have a generous entertainment space.
  • Take the heat: It’s amazing how many people forget they can still entertain outdoors in winter. You can’t ‘sell’ a portable outdoor heater, but you can extend the gas lines to the entertainment area and market that to buyers.

The key to a good outdoor area is to make it easy for potential buyers to see themselves in the space. In addition to basic sprucing like paint jobs and tidying up, think about how you can enhance potential buyers fantasies about living and enjoying themselves in your property.

Written by Mark Foy

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

Categories
Kitchens RENO ADDICT

Can a good kitchen attract property buyers?

Can a good kitchen attract property buyers?

A kitchen is one of the most expensive rooms to renovate so make sure yours is pulling its weight when it comes time to attract property buyers and sell up with these expert tips from award-winning and experienced real estate agent Mark Foy.

While the number of bedrooms and bathrooms may figure prominently in property advertising, a kitchen is often considered the ‘heart’ of a house and is therefore just as important. I wouldn’t say a good kitchen sells a property but it’s certainly the case that a bad kitchen can be a deal breaker, or at the very least affect the offer price as prospective buyers tally up what it’ll cost to fix up a disaster zone. So what are the best investments for a kitchen renovation?

Can a good kitchen attract property buyers?Image source: Houzz

1. Neutralise the space – I know I say this a lot but I also can’t say it enough: make the space neutral. If you were renovating for yourself you could do anything you wanted: create a mosaic splashback, install a wood fire pizza oven or have apple-green pantry doors, but if you’re renovating to sell you need to make the space appeal to as many potential buyers as possible. A neutral kitchen – think a palette of white, grey and stainless steel—will allow buyers to project their own vision onto the space. It may seem boring to you, but this reno is not for you, it’s for the next person. That being said, these days there are a lot of trendy fixtures and fittings appearing in kitchens such as coloured marble benchtops and brass tone drawer handles. If they suit your property, you might consider these to update your kitchen’s look, but don’t spend a fortune on a trend.

Can a good kitchen attract property buyers?Image source: FreshHome

2. Replace appliances—but only if you need to – If your property is from the 1950s and the fixed kitchen appliances are ‘original’, I suggest updating them. Beware of size differences because things like oven dimensions have changed over the decades. Older spaces will take an oven 600mm wide, but you may have to consider a more involved renovation to accommodate the newer 700mm and 900mm ovens. If you’ve installed appliances within the last five years, don’t worry about replacing them if they are in good working order, but make sure they are clean and polished before inspection time. Don’t go over the top and spend big money on luxury brands either, they will not add value to a kitchen. A reputable brand will do. Instead, spend your money on a good fit so there are no gaps between benchtops and the new appliances.

3. Lighten up – Dark kitchens are hard to sell. It doesn’t matter whether the buyer is hopeless in the kitchen, it makes sense to have light in a space where you’re handling knives and heat. One owner I know installed a skylight in a kitchen that was dark during the day but if you don’t need that kind of drastic remedy, or if it’s not possible, look at different lighting options such as general lighting for the space and task lighting for preparation areas, the stovetop and elsewhere, including your walk-in pantry. I’d also advise getting rid of a fluorescent tube and replacing it with down lights. Also consider the different effects of warm and cool lighting.

Can a good kitchen attract property buyers?Image source: The Lighting Resource

4. Open your heart – There are plenty of older properties out there that have the kitchen in an out-of-the-way section of the house. Kitchens have become the heart of many homes in more recent times so if you have an isolated kitchen, it’s worth the time and budget to open it up —especially if it lets in a little more light. You might consider knocking down a wall to create a kitchen/dining hub or even just the top half of a wall to create a window so the cook doesn’t feel locked away. Prop a breakfast bar on the other side so you can retain your benchtop space but make food prep more social.

5. Don’t forget the little things – We forget that using a kitchen means the space can get a little grubby. If your grout looks unsightly, your tiles worn, your drawer handles tarnished or your splashback grimy these are easily replaced and can make a big difference to the overall look of the kitchen. As with any reno, it’s important the update is in keeping with the look and feel of the home. When the buyer sees a clean, neutral kitchen that’s consistent with the rest of the property, that’s when you know your reno is an asset rather than a sales liability.

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

Categories
Expert Tips RENO ADDICT

3 things often overlooked at a property inspection

3 things often overlooked at a property inspection

Obviously I don’t need to overstate the importance of a thorough property inspection when you are looking to purchase a property – it goes without saying right? But while most people are focused on how many bedrooms and bathrooms a property has, what condition the kitchen is in, or how big the spaces are generally (all important things, obviously!), there are three major things that are often overlooked, and they’re all outside. And while internal concerns are important, it’s the exterior that is often forgotten when people are inspecting property.

3 things often overlooked at a property inspectionImage source: Domain

3 things often overlooked at a property inspection

1. Overall appearance – Firstly, when inspecting a property, you need to consider its street appeal. Have a look at the appearance from the outside and ask yourself a couple of questions. Does it have any appeal? Do you even like it? Will it appeal to others who will either rent or buy it from you once you have carried out the renovation? It sounds obvious but street appeal is key when purchasing a property for investment purposes.

3 things often overlooked at a property inspectionImage source: The School Of Renovating

2. Surrounding properties – The house you are looking to purchase may itself be fabulous, but that’s almost irrelevant if it’s surrounded by less-than- ideal homes or neighbours. Neighbours, in particular, are something you cannot change – you have no control over the appearance of their property, what animals they own or how many cars they choose to park in their yard. You also have no control over how noisy or inappropriate they may be. I tend to go with my gut on this one – if you look at the surrounding properties and you cringe, prospective buyers, valuers and renters will do exactly the same.

3 things often overlooked at a property inspectionImage source: Donna Homes Blog

3. Access – An often overlooked renovation aspect, but one that has the potential to wreak havoc on your budget is the property’s access. Access will determine how far away trades will need to park their cars and where the skip bin can be located. If it’s an apartment you need to consider on which storey it is located as travelling up flights of stairs or even elevator access can be problematic. Ultimately, access will greatly affect your renovation budget and thus your profit at the end.

3 things often overlooked at a property inspection

Naomi Findlay is one of our resident experts, principal of Silk Home and founder of the International Institute of Home Staging. Find out more about Naomi.

Read Naomi’s other articles.