The holiday season may have you feeling jolly and full of Christmas spirit, but is it really a good time to buy or put your property on the market? Christmas is a subject that comes up with a lot of mixed opinions. There are both pros and cons to selling or buying your property over the holidays, which are worth considering. We at SKAD believe selling over Christmas is a great idea and here is why:

• It may be possible to get a good price during the holidays as sellers may be looking to offload the property.
• For buyers, there can be more of an opportunity to pick up residual stock, as other buyers drop out of the market.
• It’s best to find a local real estate agent who will have up-to-date knowledge about how the holidays could affect your chances of a fast, profitable sale. Contact SKAD today for a skilled, knowledgeable agent who can help you buy or sell during this time.
• Buyers who are looking for properties during the holidays are usually serious about purchasing something, and this could lead to a quick sale.
• Christmas is also a naturally festive and joyful time. It falls during the first month of summer, which provides a bright, cheerful and sunny setting for the home which makes for fantastic, well-lit pictures.
• Buyers will be motivated to buy before the end of the year because they are afraid of missing out, or have sold their house and need a new home.
• One of the advantages of buying in December is that sellers might wish to wrap up a deal before the end of the year.
• An advantage for sellers is less choice, with fewer properties on the market, which can also increase competition between buyers and drive prices up which is more money in your pocket.
• Buyers will most likely be happy, wondering why you are so keen to get rid of your property. With it being a busy time of year for every one real estate is slowed down which means a lot of buyers feel like they get first choice with new homes.
• Buyers are likely to be experiencing buyer fatigue after a long year of searching. This indicates a fresh new property on at Christmas time will mean they want to snap up the properties immediately!
• Many buyers will think the market is basically stopped in late November, which is a great time to list because they’ll all notice your property straight away! Those who do sell in this period, might find the buyers want to negotiate a longer settlement to accommodate the Christmas and holiday season and organising their families/kids’ schools for the coming year.
• Buyers also face wonderful advantages at this time of year. The Christmas period can be a wonderful time to buy as a new home is the best Christmas present. Starting the new year fresh in a new home and planning their new year in their new purchase.
• An advantage for sellers is less choice, with fewer properties on the market, which can also increase competition between buyers and drive prices up meaning you can still get a great price for this time of year!

If you’d like to discuss selling your property or purchasing a home contact our agents today!”

 

“While the thought of purchasing your first investment property in the Northern Suburbs may be exciting, it carries with it a level of complexity and emphasise that you may not foresee. There’s more involved than simply registering your name on the contract. The process can be overwhelming, mainly for one who lacks knowledge about all processes.

For buyers considering property investment in the Northern Suburbs, it’s vital to hold precautionary measures before making the final decision. Entrenched in a complicated web of processes and regulations, genuine estate transactions are best handled by professionals and experts who grasp the risks and their the same as mitigating elements.

 

1. Beware of any advice offered—it will nearly always disadvantage you.
From plan marketers to sales agents, countless parties in the real estate industry will have their eyes on the committee pie. Nobody delivers you self-reliant or objective advice if they all work for the vendor in the property transaction. More repeatedly than not, any “free advice” they provide is always ‘sales advice’ and is backed by a property they’re trying to sell. In short, they’ll not think twice about trying to convince you they’re delivering you an excellent deal on a property that may not meet your needs so they can sell that property.

2. Know your risks.
Here, how much risk you’re willing to take shows how much you’re willing to gain. Real estate investment and the techniques needed to get into the market are complex. Be aware of those who try to market concepts for their services to make it seem simple, as they’re bound to either confound you in the process or ultimately separate you from your money. Knowing how much you’re willing to risk will assist you in making fact-based decisions and ensuring you only buy an investment property in the Northern Suburbs necessary for your risk profile and needs.

3. Consider how much debt you’re prepared to handle.As much as we want to use our own finances, making big decisions that involve property investment in the Northern Suburbs will put a need more money than you have. This is where a mortgage broker will be helpful and knowledgeable as they’ll have the proper contacts who can assist you to buy property in the Northern Suburbs. They’ll assist with your borrowing capacity and supply the best loan structuring for your real estate needs.

4. Understand your limitations in terms of knowledge and skills in purchasing investment properties in the Northern Suburbs.
From research to negotiation, finances to the actual acquisition—the complete process of deciding to buy a property in the Northern Suburbs takes a specialised skill set and impeccable industry knowledge that unfortunately not everyone has. Realize that this immense purchaser involves a soaring level of risk. Putting a considerable number of your hard-earned money into the wrong property can be disastrous. Get assistance and advice from knowledgeable agent or buyer advocate. They can assist you with the vast majority of aspects of the process for example researching, searching, negotiating, and buying amongst others. Paying for a buyer’s agent to assist you is frequently cheaper than losing time (and hence money) in a rising and rapidly moving market.

5. Have your potential investment property checked by professionals.Hire the services of relevant professionals to check various factors of your potential investment property. Get a pest inspector, building inspector to enquire and identify any cosmetic or structural issues that the property may have. This is a risk reduction process where you’re working out other costs or expenses you can factor in before considering any following offer.

6. Make sure you have contracts checked by a solicitor or a conveyancer.After you’ve decided on an investment property in the Northern Suburbs, it’s vital to have the contract reviewed by a solicitor or conveyancer for ensuring any aspect of it is thoroughly reviewed and nothing is left to chance. They should be qualified to assist and point out any areas of risk in the contract so you’re well notified about everything that the contract entails. If you have terms and conditions or anything else relating to the contract, they’ll be ready to assist you to outline those and discussing them accordingly.

7. Get the services of an excellent property manager.Once the property contract is unconditional, gain the services of a property manager who will help your asset on your behalf. Take the time to carefully assess and choose a reliable person to be trusted with your investment property in the Northern Suburbs. Contact our skillful property management team to discuss leasing your investment property today!”

 

Pools are one of the most popular features looked at by buyers when searching for property, ranking higher than a granny flat, duplex, and even a beach or waterfront location.

If you are considering maybe planning on selling or leasing your home with a pool, you are in luck. There are a few things you should do before you put it on the market.

First and most important your pool should be registered and up to date with safety standards.

A swimming pool certificate of compliance can be obtained from either your local council or an accredited certifier under the Building Professional Act.

An inspection will be carried out and if the swimming pool or spa meets all the safety requirements, a certificate of compliance will be issued which gives you the go ahead to lease or sell. If the pool is deemed non-compliant with safety requirements, you will receive a list of requirements needed to achieve compliance and plans of selling or leasing will be put on hold until those safety standards are met.

You will then need to undertake those changes and this will be followed by a secondary inspection.

Once the inspection is over and you have the tick of approval, you will receive your certificate, it is valid for three years from the date of issue. Receiving a certificate of compliance will vary in costs.

If you ask your local council, they can charge up to $150 for the initial inspection and up to $100 for the secondary inspection. Accredited certifiers will have their own fees so make sure to research the best option for you.

If you live in a property where there is a shared pool, such as a strata or community title property, you will not need to carry out an individual pool inspection as this is taken care of by the owner’s corporation.  The process of receiving a certificate of compliance can vary in time, so it is important that you factor in plenty of time before you sell. Being organised is an imperative part of selling your home.

If you’re selling your property, both the certificate of compliance and the certificate of registration need to be attached to the contract of sale.

For rental homes, only the certificate of compliance, or an occupation certificate issued in the last three years, need to be provided to tenants.

If you have a pool and are interested to know more, please contact our knowledgeable agents today!

Melbourne’s property market won’t stop until demand from COVID lockdowns has eased and interest rates increase.

Though the winter months may ease some of the excitement, house prices are assumed to continue rising until the end of the year, and well into next year.

Most suburbs of Melbourne have gone up, recovered and gone beyond where they were before COVID hit.

In the last few months, we’ve seen about 20 per cent growth across Melbourne including popular areas like Craigieburn, Epping, Thomastown, Lalor, Roxburgh, on average and it seems there’s still a way to go.

We will start to see it slow down as first homebuyers achieve their goal but there will still be plenty left over the next few months.

Melbourne’s median house sale price surpassed $1m for the first time in the first three months of 2021, after a staggering 8.8 per cent quarterly increase, according to the Real Estate Institute of Victoria.
Australia’s banks, NAB, ANZ, Commonwealth and Westpac — have each predicted Melbourne house prices to rise by between 7 and 16.2 per cent by the end of 2021.

If you’re interested in becoming a home owner for the first time or looking to downsize now is the perfect time. Contact SKAD Real Estate agents today to further discuss your options.

Craigieburn, with its large newly built homes, is ideal for families and you’ll find your neighbours to be just that – friendly maturing couples and families.

With grasslands and golf courses, shopping centres and skate parks, and good proximity to Brunswick cafes, weekends can fill up quickly in Craigieburn.

Craigieburn is an evolving area with many planned housing estates, some award-winning, so housing is affordable, varied and largely contemporary in design.

Craigieburn has 177 properties available for rent and 261 properties for sale. Median property prices over the last year range from $595,000 for houses to $400,500 for units. If you are looking for an investment property, consider houses in Craigieburn rent out for $400 PW with an annual rental yield of 3.5% and units rent for $350 PW with a rental yield of 4.5%. Based on five years of sales, Craigieburn has seen a compound growth rate of 8.0% for houses and 2.8% for units.

With flourishing estates, many schools, great shopping, grasslands and sporting facilities, Craigieburn offers a wonderful family lifestyle full of spacious homes and room to breathe.

Zip up Sydney Road and the Hume Highway and you’ll find Craigieburn, just 25kms north of Melbourne’s CBD. It’s an evolving area, retaining its greenery – you’ll find many activities here including golf courses, sporting grounds and conservation grasslands here. It’s developing considered new housing estates with shopping centres and facilities like the Hume Global Learning Centre.

The Lifestyle

Craigieburn can offer you everything from shopping at Craigieburn Central, Craigieburn Plaza or Highlands (which hosts a monthly farmers market) to having a round of golf at Craigieburn Public Golf Course or a picnic at DS Aitken Reserve. You can also check out what’s on at the gallery at Hume Global Learning Centre, or drive down the Hume Highway to the many different cafes of Brunswick’s Sydney Road.

Homes

While some estates more established than others, Craigieburn can offer affordable contemporary family homes built on well-designed estates. Along Waterview Blvd you’ll even get just that – water views – from your spacious new family home.

If you want to relax in a brand new family dream home, with good shopping nearby, plenty of schools, great facilities and impressive grasslands, Craigieburn’s definitely the suburb to be at. Just 25kms north of the city but a quick half hour drive to the cafes of Sydney Road, there’s something for the whole family here.

Continuous lockdowns recently in Melbourne have hit property auctions in our city, but most experts do not expect to see an end to the boom any time soon, though price rises are likely to slow down.

Preliminary figures from researcher CoreLogic show that almost two-thirds of auctions scheduled in Melbourne during the week ending last Sunday were withdrawn, contributing to a clearance rate of a paltry 35 percent.

Even with a lot of auctions being cancelled, there still appears to be plenty of demand from buyers. That is being driven by record-low variable mortgage interest rates and fear of missing out by wannabe property owners.

However, property prices in Melbourne could soon be hit by affordability constraints. 

Currently, ANZ economists are forecasting national property prices to rise by more than 20 percent in 2021, unaffected by the latest round of lockdowns. 

Even in Melbourne, where the clearance rate had been hit the hardest, prices are still holding up well considering the lockdowns. 

Some analysts expect house prices across the capital cities to rise by 7 percent next year and a further 3 percent in 2023.

Other analysts are forecasting dwelling values to rise by 5 percent next year, followed by a drop of 5 percent in 2023.

A lot of property investors favour one type of property – either apartments or houses. While there are pros and cons to both, one of the advantages of houses is the investment you’re making not only in the house, but also in the land.

Land value increases in value over time, and investment in a piece of land also gives you options to renovate, subdivide and develop, all of which lead to greater increase in value. But, with a land investment, also comes time, money and skills.

So, what’s the best path to take?

HOUSE AND LAND INVESTMENT Advantages
Opportunity for higher value increase – this depends on market conditions Strategic improvements e.g. renovations, subdivision, development Depreciation of the structure of houses
Disadvantages
Generally lower rental income Higher maintenance costs APARTMENT Advantages
Generally higher rental yield – good for your pocket Easier to hold – a strata manager is responsible for the upkeep of the building More properties at the cheaper end of the budget
Disadvantages
Not owning the land means the value won’t go up as much or as quickly Strata fees Less renovation opportunities Some markets are oversupplied Banks can have stricter lending policies 

HOW DO YOU CHOOSE THE RIGHT INVESTMENT PROPERTY? While all types of property have good and not-so-good aspects, there are some key decision-making factors you should take note of. Ask yourself…
Can I afford this property? – Know your limits. If you can’t afford the deposit, the loan repayments, the taxes you’ll pay, the agent’s fees and any renovations you’ll need to do to ensure good rental income, don’t buy it. Speak to a lender or mortgage broker who can help you work out what you can afford.
Is the location good for you? – Quality location is one of the most important parts of a real estate investment. It should be a deciding factor in choosing the type of property you buy. If you know the location is right, but can’t afford to buy a house, an apartment might still allow you to own an investment property in an up-and-coming area.
Is there enough chance of income? – If you’re keen to maximise your profit from every investment, one of the biggest advantages to houses and land investment is the potential to expand. Buying land means you can create multiple income streams via subdividing, developing or rebuilding. This tactic is only and option with house and land investment.
TALK TO AN EXPERT Before you sign any contracts, talk to our team of experts to discuss the right investment strategy for you.

The real estate industry is the same. People still need to move, and virtual home tours are very common. Although, as you may know, buying a new home isn’t as simple as viewing homes. 

There are a few different steps involved in the home buying process and completing these tasks from home comes with challenges at multiple times during the process. 

Here are some tips that addresses every step of your home buying journey, allowing you to purchase a new home in the safest manner possible. 

Step 1: Consultations

This is just like your typical buyer’s consultation, except for the fact that the meeting is held over video conference. This is a good opportunity for you to get to know us and decide if we are a good fit to work together. 

We’ll start by discussing your needs. Understanding your motivation for buying a house and what is important to you as a homebuyer helps us a lot in the home buying process. Our goal is to deliver a fully personalized experience, and make your dream come true.

Next, we’ll discuss the market. We’ll cover difference between a buyer’s and seller’s market, as well as the specific market conditions in the area you would like to move to. This also serves as a natural transition discussing your criteria. 

We will work with you to identify your list of “must-haves,” a price range that you are pre-approved for and comfortable with, and any additional criteria that you have your mind set on. 

Once we’ve answered any additional questions you might have, we’ll walk you through our loyalty agreement and associated business disclosures, then send them via DocuSign for you to easily review and complete. 

Most tenants will do the right thing and pay their rent on time
but you need to be ready to act when they don’t and be willing to start the eviction process if the behaviour continues.

Step 2: Property Search

Our agents will keep you up to date and email you homes that fit your search criteria as soon as they hit the market, giving you inside access that buyers looking on third party websites won’t have. During this step, we’ll be keeping in close communication to keep track of the homes you are considering, as well as any background research needed to help you evaluate different properties.  

Step 3: Video Tours

Since we can’t schedule a time to go and see properties, the virtual showing process is the best option.

When you find a property that you want to see,  your agent will schedule a time with the listing agent to do a walkthrough of the home. The virtual tour can either be done live over Facetime or a pre-recorded for you to watch whenever you like. 

We recommend booking a live viewing with your agent so that when you view the property live, you can ask questions and get answers right away.

 

Step 4: Sign Online

Once you’ve found a property, toured it virtually and decided to put in an offer, we can help you sign the documents digitally. 

We’ll start by taking you through the purchase contract and identifying opportunities for negotiation. Once we have arrived at terms that you agree with and are confident will result in the acceptance of the seller, we will create a digital offer and send it to you via DocuSign. 

As an extra, along with your offer, we recommend you create a personalized letter to send to the seller to introduce yourself. You can explain why their home is the one for you. We will then send the offer to the listing agent to present to the seller. 

 

Step 5: Payment Process

Once your offer is accepted by the vendor and your contract is complete the settlement process begins. To ensure your safety, we can do all of the banking and deposit money process online!

If you’d prefer to handover a cheque, your agent will arrange a time to pick up the cheque while maintaining proper social distancing rules and ensure that it is delivered in a timely manner to the seller. Regardless of your situation, we are prepared to handle this step with your safety in mind. 

 

Step 6: Final Inspection

We will ensure that the vendor is aware of your inspection appointment time so that they can properly disinfect the property and maintain social distancing while the inspection is being conducted

We usually recommend that buyers attend the last 30 minutes of the scheduled inspection in order to go over the report with the inspector. Every inspector operates a bit differently, but we will work with your inspector to schedule a time to connect over video chat to discuss the findings included in your inspection report, and then proceed with any repair requests that you may have.

 

Step 7: Settlement

Usually, you would normally go in person to complete your closing paperwork, but since we can’t at the current time, we are working with solicitors that are taking innovative approaches to make your settlement date safer for you. 

All the documents will be sent digitally and as a buyer the only thing you have to do is contact your agent to arrange picking up the keys. If necessary the agent can drop the keys off to a secure location where you can collect them later, making the whole process contact free.

Step 8: Congratulations on Your New Home!

Once settlement is complete and the keys have been handed over, the property is yours! If you need help finding moving companies, we will be happy to reach out to companies our past clients have had good experiences with and ensure that they are taking proper health precautions. 

The world is changing, and we are ready to adapt in order to make your real estate goals happen. If you have any questions about our virtual home buying process or would like to schedule a virtual consultation, call us at 1300 SKAD RE or email us at info@skadre.com.au