We have 4 steps that may increase the return on your investment property by $1000's, annually.
How do we do this? We focus on reducing your outgoings and improving your tax benefits. Most owners don't have the time to review the current costs of their investment properties or make sure they have an accurate depreciation schedule.
Harcourts have access to the right people that only work in the areas that they excell, all it takes is a little of your time and we can run you through these 4 Steps to give you the best opportunity to maximise the return on your investment portfolio. Nothing lost, plenty to gain....
At its September meeting, the Reserve Bank of Australia chose to keep the official cash rate on hold at 1.5 per cent. How will this affect you this Spring?
Despite the RBA keeping the cash rate unchanged, lenders continued to cut rates on principal and interest loans for owner occupiers during August. Home loan rates are still very low and that means Spring could be the time for a fresh start in a new home!
Property investors are facing interest rate uncertainty as many lenders make adjustments to ensure they are meeting APRA’s lending guidelines. However, there are some lenders who have cut interest rates for new investors seeking principal and interest loans in recent weeks, so talk to us if you’re looking to invest in property.
Spring could also be the time for a home loan health check, so call your broker now to get it organised!
One of the most common questions from those looking to sell property is ‘what’s my property worth in this market?’ Well marketed, well presented homes that are priced competitively will always sell better than an unrealistically priced home. Whether the property market is buoyant and incredibly busy, or nice and steady, the information from the marketplace will always be the best guide in your pricing decisions.
Working with a property professional will help you to gather that all important marketplace information. Current market research includes not only what similar properties in your area have been selling for recently, it also covers a smart marketing plan to provide you with a range of options to reach out to that all important buying interest.
One of the biggest risks is overpricing because:
Price is the first window through which a property is viewed. An over-priced property attracts buyers who quickly decide your home compares unfavorably with other homes in that price bracket.
Overpricing can also reduce the number of inspections, as consultants working hard for their buyers will be reluctant to show your home to a buyer for fear of ruining their credibility.
Overpricing can also serve to make other similarly priced properties look even more attractive to buyers when they are making comparisons.
A high price sends a message that you are too far out of touch and reach, so buyers may not want to take the time to start negotiating with you.
Overpricing can also mean missing your buyers who if focused at only looking at property within a certain price range simply don’t see your home. Buyers looking in the price range your property is in will then be comparing it with homes offering a much higher level of value than yours.
However much you love your home, whatever you have spent on it, and whatever you need to get out of it to move on to your next property, these factors have little influence on actual value. The value is determined by a buyer’s perception and how much they are prepared to pay for your home.
Keep an open mind and listen to feedback. An experienced sales consultant will use their skills to extract key information from potential buyers visiting your home to report any features or issues that may be holding buyers back. Feedback is invaluable for checking whether your pricing is right as many buyers will have inspected a number of similar properties, so their opinion is crucial