Knowing which features are most important to buyers can help you renovate your home for a higher profit when it comes time to sell. Certain features such as extra storage and parking, and luxuries such as ensuite bathrooms are becoming more popular among buyers. Including them when renovating to sell can help increase your sale price of your property.
Buying, fixing and reselling a house at a profit, or flipping a house, can be a lot of work, but it isn’t impossible. By purchasing the right house and making renovations, you can sell for much more than you paid for it in a short amount of time. Done the right way, a house flip can be a great investment.
Whether you’re looking to rent out or sell your property, or you’ve been planning to liven your home while you’re in lockdown, you don’t have to spend thousands on hiring professionals. Freshening up your home space has the ability to make your home feel differently, make it easier to interact with others, and improve the way you use your home. Here are four easy, DIY property makeovers to make your home more liveable and appealing.
With winter settling in across the country, many of us will be turning on the heater, taking longer showers and leaving our lights on a little longer, sending our power bills soaring. You don’t have to choose between freezing or paying higher bills though. Here are a few simple steps you can take to cut down your winter power bills.
Most Australian homeowners set-and-forget when it comes to their home insurance policies. Unfortunately, that means many are underinsured and most owners won’t know until it’s too late. In fact, the Insurance Council of Australia estimates that 80 per cent of property owners are underinsured. With bushfires and floods affecting many homeowners around the country already this year, it’s important to make sure your greatest asset is insured properly.
With lockdown restrictions slowly being eased, most of us still have more time at home. That’s why now is a great time to prepare to sell your home. With the property market tipped to start gaining momentum again soon, it’s important to have your house ready for interested buyers.
A survey conducted by economist, Tony Alexander, found that Kiwis are keen to see more of their own country when current Covid-19 restrictions are lifted. A total of 20 percent of respondents said they will spend more on domestic travel from 14 May when people will be permitted to travel around the country for business or leisure. When Kiwis do begin travelling again and your Airbnb bookings start growing, maintaining the cleanliness of your property will become high priority.
While some Kiwis plan to rein in on their spending as a result of the Covid-19 pandemic, others are planning to spend on renovating their homes. A consumer spending survey that was carried out in the first week of Alert Level 3 earlier in May, found that 38 per cent of respondents planned to up their spending following the easing of lockdown restrictions.
It will now be easier for New Zealand home buyers to secure a bank loan with the removal of loan-to-value ratio (LVR) funding restrictions on mortgage lending. LVR refers to the percentage of the property the bank owns or how much of the property is covered by mortgage. For example, if your house is worth $500,000 and your mortgage is worth $300,000, your LVR is 60 per cent because the mortgage is worth 60 per cent of the total house price.
With the real estate industry being impacted by the changes of the global Covid-19 pandemic, AirBNB and short stay holiday rentals have taken a significant hit. University of Queensland’s Thomas Sigler, studied the Airbnb market, finding at any given month prior to the pandemic, Australia had between 100,000 and 130,000 dwellings listed as AirBNBs, with listings growing by around 2-3 per cent per month.