The busy Spring property season is just around the corner and you know what that means? Whether you’re planning to buy or sell, NOW is the time to start getting organised. Here’s how.
Tips if you’re planning to BUY this Spring:
Get your finance sorted pronto
There’s no point starting the property hunt until you know how much you can borrow. Talk to your broker to explain your borrowing power.
If you haven’t already done so, it’s also a good idea to get pre-approved for finance now, so that you don’t miss out on your dream home once you find it. For most lenders, pre-approvals last 3-6 months.
Do your research
Whether you’re a first home buyer or you’ve been around the block, it’s important to do your homework.
- Narrow down the suburbs you’re interested in and research the market value of your desired property type
- Check government websites for projects that may influence the capital growth potential
- Consider the zoning and whether upcoming developments could affect supply and demand
- Check out recent comparable sales on websites like realestate.com.au
- Get to know local real estate agents now, so that they keep you in the loop about new listings during Spring
- Ask your mortgage for a free suburb report with all the key info you’ll need.
Attend several auctions before you actually bid
Bidding at auction can be extremely daunting, particularly with the knowledge that there’s no cooling off period. You’ll want to feel confident about the process before going in guns blazing.
Over the coming weeks, make time to attend several auctions to get a feel for how they unfold. Even if you’ve bought at auction before, it’s a good idea to suss out the market in advance.
Tips if you’re planning to SELL this Spring:
That’s right, it’s time to channel your inner Marie Kondo (she’s a tidying expert, if you haven’t heard of her). You may be thinking, ‘it’s only August, I’ll have time for that later,’ but it’s important not to underestimate how long the decluttering process can take!
Decluttering can make a world of difference to prospective buyers. It allows them to see the space more clearly and imagine themselves living in your home. In simple terms, space sells.
With that in mind, ditch what you don’t need and consider putting the majority of your belongings into storage.
Time to give your home a thorough clean. You’ll want your property looking its absolute best for when the inspections begin.
If there are any repairs or maintenance jobs you’ve been putting off over the Winter, now is the time to address them.
Want to drive up the sales price? Why not renovate this month and add value to your property?
Most experts recommend the top priorities when renovating for profit should be the kitchen and bathroom(s). If you need finance for these kinds of big-ticket renovations, we can help.
However, even making small cosmetic enhancements, like applying a fresh coat of paint or putting up new blinds, could result in a heftier price tag.
Sort out your finance for your next property purchase
Already found your next home? You may need bridging finance to tide you over until settlement is finalised on your old property.
So, what’s on your to-do list this month? Remember, whether you’re buying or selling this Spring, now is the time to start planning and preparing. Speak to your mortgage broker for all your finance needs today!