With the state of the property market continually being a hot topic for discussion, it’s hard to know where to start with so much information around.
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The Illawarra Mercury asked several of the Illawarra’s top real estate agents their advice for first homebuyers and top tips for sellers in the region for 2017.
All noted presentation as key when getting a home ready for sale; as Darren Kay of Bell Property says: “first impressions count”.
Many of the agents suggested spending money on a stylist, who use their home decorating skills to “enhance” the saleability of the property. There are several businesses available around the region.
At the very least, Angie Ritchie of Zest Residential suggested sellers to “de-clutter” their home, remove personal items, and make sure to clean and dust for open homes as well as leaving windows open and turning all lights on.
All agreed the best agent would not necessarily be the cheapest and suggested sellers look at experience and net return offered after fees and commission.
“Use a professional and reputable agent who knows your area intimately,” said Simon Kersten of Colliers International.
“Choose someone that knows the area inside-out and check out their track record,” added Vanessa Denison-Pender of One Agency.
“Forget about new players and agents that under-cut commission, it will ultimately cost you more.”
Agents should be the experts rather than family or friends, said Trever Molenaar of McGrath.
“As much as they try to help, they all have competing ideas and are not the professionals listening to the feedback,” he said.
For first homebuyers, researching the area(s) they like was a top priority, while most advised to jump into the market as soon as they can because prices won’t come down.
“Seek out properties with the opportunity to add value. The oldest home in the best street is a good start,” Mr Kay said.
Rolf Lokker of AM Rutty also advised buyers to ensure their finances were in place before they started to look.
“In the current market properties can often sell during the first week, so if you find a property you love don’t hesitate and put in your best offer upfront,” he said.
Both Mr Kersten, and Simon Beaufils of Ray White, suggested buying an apartment off the plan was a good option to get a foot in the door.
“If they’re looking at something off then plan they don’t have to settle for 18 months, at least they’re in the market and they’ll get the [capital] growth between now and then.”
Mr Kersten also suggested looking for other ways to get into the market faster as he said holding off to save for a deposit could mean a $100,000 increase on the property of your dreams.
“Buy what you can for your budget, as close to where you want to be and get on the ladder,” Ms Denison-Pender said.