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Property Investment Advice

Why you need a buyers’ agent when investing in property

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Many people use buyers’ agents when they’re trying to buy their family home, thinking they need their expertise to make sure they’re making a wise decision and paying the right price.

When it comes to their investment property, however, they decide they’d rather go it alone as it’s often for less money, and they don’t have so much emotional capital bundled up in the purchase.

“But buyers’ agents are more relevant with investment properties,” argues Cate Bakos, president of The Real Estate Buyers Agents Association of Australia.

“People should be buying those for one purpose: their long-term performance. If you love a house and plan to live in it, on the other hand, then its value is pretty immaterial.

“Having a buyers’ agent enables you to look at a property objectively, with no emotion, and in the context of all the figures, like yields, vacancy rates, performance of the area historically, demand for different types and sizes of houses, and advise you about paying the right price.”

National property market researcher Simon Pressley, head of Propertyology, specialises in helping buyers of investment properties and is similarly enthusiastic about the value of professional help.

He’s seen buyers regularly pay over the odds because they’re simply not well enough informed, or over-estimate the returns that are likely to flow.

They do so, he says, because they’re so keen on saving the fee they’d have to pay an agent, which is invariably much less than they lose by not having one.

“If you’re sick, you go to a doctor rather than thinking you know a little bit about medicine so you’ll DIY,” Pressley said.

“But the problem is that you don’t know what you don’t know.

“Buyers’ agents have bought hundreds and hundreds of properties, they have huge experience and they know the market and the different areas, which clauses to put in contracts to secure properties and the best conveyancers to recommend, pest inspectors, surveyors … their networks are huge. Buyers can pull up information but they often don’t know the context.”

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Buyers’ agents tend to have ‘runs on the board’ with local sales agents making them useful for investors. Photo: Greg Briggs 

It’s those networks, the market research they have access to and their understanding of what makes a strategic property purchase that makes buyers’ agents so valuable for investments, believes the chair of the Property Investment Professionals of Australia, Nicola McDougall.

When markets are booming, working with buying experts can significantly improve an investor’s chances of securing a property when demand is far exceeding supply, she says, and when it’s softening, that they don’t overpay.

“This is partly because the most experienced buyers’ agents tend to purchase in select locations – that have been determined to have superior growth forecasts – for a period of time so they have ‘runs on the board’ with local sales agents,” she said.

“These local agent networks also mean they often have access to off-market properties that the average investor would never know about.

“Working with buying professionals also means that investors are not going to overpay for a property because they have let their hearts rule their heads. The very best buyers’ agents and qualified property investment advisors provide tailored and independent advice to their clients that ensure the investment property they purchase suits their budgets and their long-term financial goals.”

 

Article Source: www.domain.com.au

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Investment Advice

Why buy a Lagoon, Main Beach apartment

Lagoon, Main Beach apartment

Inspired by the sun-soaked charm of coastal living and fused with timeless elegance, Lagoon provides a collection of residences that mirror Main Beach’s landscape and lifestyle.

The Lagoon residences present a range of two and three-bedroom apartments, along with the signature range of sky homes and duel level penthouse suites.

Demand has unsurprisingly high, with developer Drew Group planning to bring to market the second tower much earlier than planned and build them simultaneously.

We’ve taken a closer look at Lagoon Main Beach and what buyers will love about the rare project.

The Design

Set in the heart of Main Beach at 11-23 Cronin Avenue, Lagoon comprises two architecturally stunning towers with 248 residences.

Drew Group appointed Plus Architecture to design the development with sustainability, environmental, infrastructure and urban renewal at the forefront of their brief resulting in a well crafted design that answers the needs of modern apartment living.

Danny Juric, Director at Plus Architecture, had a clear vision for Lagoon and what he wanted to bring to Main Beach, embracing the coastal living with elegantly expressed modern architecture, with a twist of Palm Springs minimalism.

With all apartments oriented to maximise the views, Tower 1, named Sunrise, is the larger of the two, rising 31 levels with 143 apartments. Comprising a mix of two-bedroom apartments, which start from 91 sqm of internal space, along with 27 three-bedroom-apartments, which start from 154 sqm of living space, the typical floor-plate is made up of five apartments per floor, up until level 27, where the Signature Collection begins.

The duel-level penthouse suites are located at level 31, with the first floor home to three of the four bedrooms, as well as the kitchen living and dining space. The second-level feature the master suite, along with a media room, and an expansive terrace, spanning over 100 sqm with an outdoor kitchen, dining area, and private plunge pool.

Buyers of the Dual level penthouse suites will have the opportunity to give the home a personal touch with an allocation provided to complete the look with personalised fittings and finishes in consultation with interior designer and architect.

Tower 2, aptly named Sunset, rises 23 levels and has 111 apartments, with a breakdown of one, two and three-bedroom apartments.

Both towers have podium level access to all the facilities, including the heated lagoon pool, barbecue and leisure areas, the business hub and the fitness centre.

The Developer

Established in 1982, Drew Group is a family-orientated property development and investment company, that operates out of Main Beach, Gold Coast. With over 40 years’ experience in the development industry, Drew Group started at grass roots in Brisbane across all sectors including commercial, industrial, retail, and residential.

Both personable and community focused, Drew Group’s focus on opportunities has been market driven; diversifying their portfolio has provided a wide scope of experience across a range of project types.

Drew Group have evoked their community focus, through their deep passion for delivering practical and stylish developments.

“Through a very “hands on” approach to all aspects of the development process, we manage to successfully obtain optimal outcomes for our buyers and investors,” say Drew Group.

The group are no strangers to Main Beach, having completed a luxury 16-storey development back in 2018, delivering 29 luxury apartments to the area.

With projects extending up the coastline, the group’s previous projects have all been sell-outs, giving buyers assurance in the quality and integrity of their work.

The Location

It doesn’t get much better than waking up to the sounds and smells of the neighbouring ocean.  With expansive golden beaches bordered by verdant bushland and green spaces, Main Beach is defined by its landscape.

Lagoon occupies the largest landholding in Main Beach, the careful amalgamation of seven sites, with the site occupying a length of street stretching almost from street corner to street corner.

Beyond the picturesque setting, Lagoon Main Beach lands on the doorstep to a cosmopolitan lifestyle that rivals the offerings of world-renowned destinations.

Tedder Avenue is just 50-metres from Lagoon, while residents will only have to walk 200-metres to access the beach.

Public transport access is easy with Lagoon sitting just 400-metres from the tram line, while MacIntosh Park and Boat ramp are only 900-metres.

The Amenity

Lagoon Main Beach is aptly named after its central leisure facilities, with the lagoon-style pool and the Palm Springs-inspired escape being the focal point to the development.

The recreational podium level, shared between the two buildings, also features a spa, integrated lounges and cabanas, a gym, and barbecue areas, showers, surfboard storage, work from home spaces and a business hub and lounge with a board room.

Article source: www.urban.com.au

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Property Investment Advice

You Need To Check These Things Before Moving Into A New Property

Moving Into A New Property tips

If you are considering buying or leasing a new house, there are a few things that you need to think about first. If you don’t meticulously check your new property before you sign the contract, you could end up making a big mistake. Some of the things that you need to look out for include mold, dampness, and structural issues. Checking for these things is relatively easy. You can even hire a contractor to do it on your behalf.

This post will tell you everything that you need to check before moving into a new property:


Moving Into A New Property

Electrics

The first thing that you need to check before moving into a new house is the property’s electrical system. If there are any issues with it, then this could be dangerous. It’s important that the landlord or seller resolves these issues before selling. As evident at finnleyelectrical.com.au, electricians offer a wide array of electrical services. You can hire an electrician to perform checks on your new property before moving in, just so that you can be confident that there aren’t any issues with it. Should you want to, you can also pay one to repair them.

Roof

If your new house’s roof has any issues, they should be resolved before you move in. Issues with a property’s roof can significantly devalue it and even make it dangerous. The main way that a poorly maintained roof can impact a house is in terms of letting in water and dampness. If leaks are able to penetrate your roof, then this could result in significant structural issues becoming manifest. You can hire a professional roofer to come in to inspect your house. Most roofs need to be replaced every decade or so. Make sure to ask the seller or landlord when they last replaced theirs.


Moving Into A New Property tips

Plumbing

If your new house’s plumbing is on the fritz, then you won’t be able to use the bathroom or maybe even the kitchen. Bad plumbing is very common. Fortunately, it’s very easy to solve this issue. All one needs to do is to contact a professional plumber and have them come in to perform maintenance or checks. Bad plumbing can also devalue your house, and even make it dangerous. If your pipes aren’t well maintained then leaks can form. Leaks can cause significant dampness, which can not only increase your home’s energy costs but also increase the chances of things like mold forming.

Insulation

Insulation is the last thing that you need to check. As long as a property’s roof is okay, its electrics and plumbing all work, and it isn’t falling down, then insulation is all that you need to enjoy the property. Insulation is especially important if you live in a very cold country. Energy prices are soaring, so by ensuring that you invest in a well-insulated house, you will be able to ensure that you don’t have to spend a fortune on heating and you won’t get cold.

If you are moving into a new house, then you need to check out the suggestions made in this post. If you do not then you could end up moving into a house that costs you a lot of money and isn’t safe for habitation.

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Property Investment Advice

Everyone’s a winner: Property market where it’s almost impossible for sellers to lose

Property market where it's almost impossible for sellers to lose

Home sellers were delivered huge profits of a median $319,000 in the December quarter, according to CoreLogic.

The Pain and Gain survey showed that coastal regions were more likely to generate profits and on the Sunshine Coast it was almost impossible to lose with 99.5 per cent of sales achieving a nominal gain.

Nationally the median holding period for profit-making resales was 9.2 years and while properties held for more than 30 years had the highest total median return ($770,000), properties held for two years or less had the highest nominal gain per year of $150,500.

Regional Australia had a higher rate of profit than Australia’s combined capitals at 94 per cent versus 93.7 per cent, respectively.

CoreLogic’s head of research Eliza Owen Investors said investors had a lower incidence of profitability (91.4 per cent) than owner occupier sellers (96.7 per cent). This was likely to be because of the higher incidence of unit ownership among investors.

The report analysed approximately 133,000 resales of property that occurred over the course of the December 2021 quarter, a significant uplift from the 99,000 dwelling resale transactions during the September quarter, which coincided with lockdown restrictions in many parts of the country.

The national median nominal gain was $319,000 with total resale profits of $38 billion over the December quarter. The median loss was $34,000.

 

Article source: inqld.com.au

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