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Real Estate

New or Old – Which Investment is Right for You?

Property investment is one of the most popular investments for Australians but it is not just about whether you decide to buy a unit or a house, you also have the option of new or old. Here is a quick summary on the pros and cons of each option to help you choose the one that is right for you and hopefully provide solid returns over the long term.

New or Old – Which Investment is Right for You?

Buying off the Plan

Property investment is not just about whether you decide to buy a unit or a house, you also have the option of new or old.

Buying off-the-plan has proved popular with many Australians for many years but how do you know if it’s the right investment strategy for you?

One of the main attractions of buying off-the-plan is the chance to lock in today’s prices for a property that may not be completed for another year or two. What’s more, until the property is complete you won’t have to make any mortgage repayments – the only commitment is a deposit.

Another key benefit is that you have the advantage of offering prospective tenants a brand new property which is less likely to require maintenance and this may also help attract a higher rental.

The downside with an off-the-plan purchase is that there are no guarantees the value of the property will rise between purchase and completion – and if the value has dropped your lender may not be prepared to fund as much of the purchase price as you had hoped.

Buying and Existing Property

The alternative to buying off-the-plan is to dip into the resale market and buy an existing property.

One of the key benefits of this option is that you may have more scope to negotiate on price in a slower market.

There’s also the capacity to add value to a property by making your own improvements, which may also increase the rental it attracts.

But be aware that if you purchase an older property you may face the added expense of maintenance and repairs; you may also find it harder to attract good tenants.

Whichever option you choose, property remains one of the most popular investments for Australians. Bought at the right price and financed with a well matched mortgage your investment property should provide solid returns over the long-term.

Spring Cleaning the Bathrooms for Inspections

As a room that requires a certain level of privacy, it’s important to get the bathroom right when you sell your home. If you’re letting people through your home for an open inspection, there are several steps you can take to have it shining bright and smelling sweet for prospective buyers.

Clean and Clear

As a room that requires a certain level of privacy, it’s important to get the bathroom right when you sell your home. If you’re letting people through your home for an open inspection, there are several steps you can take to have it shining bright for prospective buyers.

No matter how frivolously you clean your bathroom through the year, there’s always going to be mould and muck popping up in the dark corners. By giving everything a thorough clean before your inspection, you will get the bathroom glimmering and smelling great.

Canstar compared many bathroom cleaners, and found that ALDI products were the easiest to use and the most effective, so you should consider these. Domestos and Earth Choice were other popular brands among consumers, the latter of which is a great choice for environmental friendliness.

Under Pressure

One part of the bathroom that people often forget about is water pressure, which can make or break a home sale if someone is pedantic about how they shower. Soaking a shower head in vinegar is a recommended way of cleaning it to make water flow better, but sometimes you need to go a bit further.

You can talk to a plumber or your local water provider about getting your pipes checked out to see if there is any way of boosting water pressure, should you find your shower on the weak side. This will have the added side effect of being a good checkup for any leaks around other home piping!

A Sanctuary

Bathrooms are a crucial area to make as calm as possible – whether taking a long bath or grooming yourself for a night out, you want to conduct personal activities at your own pace. Home buyers Bigger Equity

To make the bathroom a calming space, try getting the colours just right. Lighter tones right across the room will make it feel quiet and large – match the towels to the wall colour scheme for an extra touch of class.

Flashy Fixtures

Don’t let that open inspection go ahead without taking to the taps in your bathroom. We don’t think about them very often, but they are touched by everyone in a house on a regular basis, and can easily become smudged. Give them a brisk polish to really wow potential buyers!

A clean bathroom isn’t just a wonderful place for your private affairs – it’s a home feature that will stun and delight people that see it at inspection. Fix yours up to boost those chances of a quick sale!

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