21 Jan

6 Mistakes People Make When Selling In Sydney’s Inner West Suburbs

Within all the excitement and intrigue to sell their property, people often make six deal-breaking mistakes while selling their property in Sydney’s Inner West.

Giving less importance to the buyer

This is one of the most common mistakes, sellers forget the buyers. However, it’s not just about giving importance to the buyer; it’s also about how willing you really are to sell your property. Have you been doing everything you can to highlight the features of your home? What about the presentation? How well have you presented your property in the advertising campaign?

If you want to successfully sell a property in the Inner West, you must think from the buyer’s perspective and give importance to their view point. Think about what a buyer would be looking at first when he/she enters your home. Nobody likes to see a property which is full of unnecessary items so, de-cluttering your home is crucial to allow your buyer to check each and everything in your house.

Furthermore, find out different ways you can reach your ideal buyer. Why not consider making a Facebook campaign if you are looking for professional buyers? Try to do something different, people are tired of the usual approaches.

Imbalanced expenditures on renovation

Sometimes sellers extravagantly renovate their property and then expect for a higher sale price. It just won’t happen because all you have done is renovated optional things which don’t even matter!

On the other hand, some sellers completely ignore renovation as they think it’s not even important or they are scared of spending more money than they are expected to gain. The point is, as long as you are renovating the right parts of the house, it’s going to play a huge role in maximization of profit. People simply love when a property consists of all the latest facilities, qualitatively charming design and attractive fittings.

Spend wisely and it may turn the tables upside down, spend unwisely and you may be making it harder for yourself.

Having too much confidence

Some sellers become overconfident about the worth of their property and expect to receive a huge profit out of it. That is not possible. Your property will be worth what it deserves to be paid for. If you have a decades old property in top condition, it won’t matter. Time has changed. People are looking to adjust according to the new fashions and new facilities, your 1980’s renovations won’t do you any good.

So what to do? Get a trustworthy agent and ask him questions about your property. Make full use of him/her and find out what your house is worth and how can you further improve its worth, if it’s possible

Ignoring what the market says.

The real estate markets, whether it’s in the Inner West or even outside of Australia, are dictated by the laws of supply and demand. This is exactly why a lot of emphasis is placed on market research before stepping inside an auction or putting a ‘for sale’ sign on your property.

If your property has recently failed to sell, listen to what the market is saying. That does not mean that the market was actually speaking and you failed to hear its words but rather it’s a metaphorical way of suggesting that look again at the market trends. Have you overpriced your property? Did you bring it to the market through the wrong means? Are you even advertising at the right market?

All of these factors are dictated by the market trends and until and unless you are aware of what’s going on in the market, you will not be able to find out how to properly display your property when selling it.

Auctions are not everything

Auctions have started to become a literal culture in Australia, especially in the Inner West. People forget to check the market conditions before starting an auction campaign. What if there is already a high level of similar property stock available to the buyers? Do you think they will come to your auction? Absolutely not! It is very important to know that auctions are only effective when the stock is low and the buyer activity is high, not the other way around.

We personally believe that off-market properties tend to have better chances of getting sold than through any other method. However, this is not to discourage you. If you think auction is the right choice for your property, go ahead. But make sure it really is the right choice.

Lack of belief in the real estate agents

If you have already hired a real estate agent, which you should if you haven’t yet, then why not put your trust in him/her? If you are not completely happy about your agent’s choices, then not only are you wasting your hard-earned money but you are also wasting the agent’s time.

Real estate agents, the trustworthy and professional ones, can positively turn the tables upside down when it comes to successfully selling your property. They can help you in getting the best price for your property and the overall desired results. So, if you have hired an agent, trust them!

13 Jan

Buyer’s Checklist For Purchasing Property in Sydney’s Inner West

Looking for an ideal house can be exhausting

Throughout an entire suburb, what should you do to find your ideal house quickly? Unfortunately, there is no shortcut to find anything instantly but, there is a way to ease the journey of your dream house hunting. Since every suburb and every house has its own pros and cons, what you should be doing is making a checklist for what are you looking for inside your desired property.

What type of property are you looking for?

Even before you find out your optimum budget level, you should know what exactly you are looking for. Are you a newly-wed couple thinking about moving in a tiny, cozy, easily-manageable house? Are you someone who is just entering the real estate world? Or, are you just a one man band trying to save their costs and expenses by desiring a small, one-room apartment? Whatever it is, you should have the exact idea of who you are and what should you be looking for. This will make your journey extremely easy as anything that sets you off in a property according to your checklist will be marked with a big “No!” and will allow you to instantly move forward.

What type of area suits you the best?

We see very often that buyers star t “drooling” when they see some of Sydney Inner West’s irresistibly seductive areas. Do not let the beauty fool you, you are not here to look for attractiveness but rather for what suits you the best. Before buying a property, it is of utmost importance to consider whether you want it away or near a commercial area. If you are a student, is your university going to require a long, frustrating walk every single day? What if you run out of bread & butter, will you have to fetch a taxi every single time or are you fine with walking a mile or two? It all depends on your preferences. You must have a crystal clear picture of the things you want near your property and the things that you don’t want near your property such as you might want to leave away in peace.

Does it just look good or is it actually?

Many times new buyers, out of uncontrollable excitement, buy their desired property at an optimum budget level only to find out at the end that the property is full of faults which require repairs that are worth beyond your financial condition.

For some, home is probably the biggest investment you will make and an investment that can either be for you or against you since it’s definitely not going to be easy to buy a new property and do all the shifting process again. Therefore, it’s crucial to do all the required inspections of the house and see if everything is working fine. If something is wrong, get it written in the contract that it has to be fixed before you buy the property. In addition, make sure to get your contract checked by a solicitor if you are choosing to buy a property at an auction.

Do not ignore these factors

Can you imagine getting disturbed several times every night by a frustratingly loud noise? You absolutely cannot! So what if your property resided under a flight path or near a busy road? What if the neighborhood was generally a noisy area? What if you lived in front of a crazy park where children would constantly shout? What if your property cannot get enough of sunshine to light it up?

These are some of the factors which should be deal breakers for you. Do not compromise when it comes to your comfort level. As we mentioned above, for some, getting a property is the biggest investment.

How much is fair?

The first and foremost part is to make and write down all the preferences we have mentioned above. Secondly, compile all your preferences and start your house hunting. It may be that you find a perfect property that meets all your requirements but its price is way above your budget or it may even be the opposite in case of hidden faults in the house.

The point is, do not stop looking for similar properties until you think you have found the one which is as closest to your preferences as possible.

What to do if you keep failing?

DO NOT GIVE UP. This is what you should do. Buyers become discouraged when they are unable to find their desired property. Just keep looking and never settle down.

If you want to make it easier for yourself, get the help of a trusted agent as they are also aware of off-market sales by sellers who are just looking to quietly get done with everything.

05 Jan

Selling Property In 2018: What You Need To Know

It’s a big decision

Selling any kind of property is pretty much of an intense decision. This decision can either be against you or for you in terms of profit or loss. So, doing your market research before taking an action is crucial to a successful sale.

Look at the market broad-mindedly

Sometimes you need to look in a broad way to be able to see the complete picture. Newspapers love to create unnecessary hype which can confuse you; don’t let it confuse you! Do your own market research for everything but confirm thrice before sticking to a single fact.

The good news is that, the Sydney real estate market has seen a lot of positive improvements in terms of stabilization since the year 2017. However, we always emphasize on the fact that different markets have different traits. Focus on the micro factors which are related to your property and not the whole of Sydney’s property as the Inner West is a completely distinct area in terms of real estate.

What will be your first move?

Are you going to sell first or buy first? If you are planning to sell first, are the benefits going to be more than the ones gained by buying first? In either way, which step will you be standing on the property ladder?

Try to find out the value of your existing property. If that is good enough, you should go ahead with buying another property. However, if your current property is not standing a at good valuable position, it’s risky to move ahead for another one. Also, make sure to check your current circumstances and your financial condition to ensure that whatever decision you make is only going to move you forward and not backward or sideways. So, once again, your research is going to play a big role in this.

Don’t be hasty when it comes to the local agents

Local agents are going to make a huge impact on the success of your sale. They are the people whose job is to be completely immersed in the real estate market. They know each and every inch of it so using their years of experience, negotiation skills and working strategy can help you get your desired results.

If you are unsure about which agent is the right one for you, try to interview several local ones by asking them some common questions which you may have in your mind e.g. how much does my property worth? What can I do to improve the value of my property?

Don’t forget the buyer agents

If, by any chance, you choose to sell first and then buy another property, make sure you take full advantage of the buyer agents. Get one whom you think is experienced enough as the more experienced they are, the more aware they will be aware of the off-market opportunities and you will have a better chance of getting your next desired property at the right budget.