There are more interesting articles, commentaries and analyst reports on the Web every week than anyone could read in a month.
Each Saturday morning I like to share some of the ones I’ve read during the week.
The weekend will be over before you know it, so enjoy some weekend reading…and please forward to your friends by clicking the social link buttons.
10 biggest property turnoffs and how to fix them
We all know the immediate appeals of a house; big land, spacious rooms and a double garage never hurts.
But what are the biggest turnoffs?
Do you know what turns buyers off properties and what attracts them?
It may not be what you think it is.
Sellers often think they need to spend thousands upgrading the kitchen or bathroom, but they are better off making small improvements instead.
According to a national survey conducted by Pureprofile for Mozo.com.au, dated kitchens and bathrooms do not make the top five list of buyer turnoffs, falling behind lack of parking, mould, dark rooms, no outdoor space and small rooms.
Mozo property expert Steve Jovcevski said sellers should focus on improvements such as damp and lightning if they want to stop potential buyers from walking away.
“Our research shows that outdated kitchens and bathrooms are a turnoff for just three in 20 potential buyers,” Mr Jovcevski said.
“This isn’t too surprising given a lot of buyers like to add their own style to a space, so an unrenovated kitchen or bathroom could be a drawcard for them.”
Buyers, however, care about space.
Mr Jovcevski suggested decluttering, painting the walls white and removing bulky furniture to make small rooms appear bigger.
He said sellers have to consider their market before putting a property up for sale.
“Only make the changes that will drive up value for those most likely to be interested in your home.”
Pureprofile surveyed 1,002 Australians aged 18 years and above in September to compile its top ten list.
- No parking (59%)
- Damp /mould (50%)
- Dark rooms / poor natural light (34%)
- No outdoor space (28%)
- Small rooms (16%)
- Dated / unrenovated kitchen (16%)
- Dated / unrenovated bathroom (15%)
- Lack of storage (14%)
- Flooring needs to be replaced (12%)
- No laundry (11%)
Read the full article here
The fear of overpaying for a property + Expert is “surprised” at the resilience of the market
Another great Real Estate Talk show produced by Kevin Turner.
Michael Yardney answer questions surrounding how the market seems continually surprise us.
Ed Chan from Chan & Naylor stumps up to answer some questions about land tax from Charlotte.
Margaret Lomas tells us about her personal family experience surrounding compensation you get from Government if your land is resumed.
Jane Slack-Smith talks about her early memories of growing up in a family of renters, how she initially trained as a mining engineer but started out as a rentvestor and how she built her portfolio.
Patrick Bright has some thoughts on how tough it really is for first time buyers and he has some hard advice.
If you don’t already subscribe to this excellent weekly internet based radio show do so now by clicking here.
New dwellings…& the incentives to buy them
There is a long going debate between buying new or older dwelling – but what are the pros and cons?
We traded in a car this week for about a twentieth of what it was bought for when new.
Not so keen so reproduce this underwhelming result, in its stead I bought a 2012 Ford with 36,000 clicks on the clock, for around half of its ‘as new’ price.
A bit more palatable.
Being no spring chicken any longer, I could obviously afford to buy new, but it’s only a runabout and buying second hand simply offers far superior value.
Besides, I feel I should practice what I preach: when compounded over a couple of decades, $20,000 could be worth quite a lot in the future.
Of course, someone must buy all the new vehicles, else they’d never be sold.
Well, some people just like the ‘feel’ of driving something brand new.
And it sometimes makes sense for some company car drivers.
Other people just have money burning a hole in their pocket, I guess, and more power to them…
Who buys new dwellings?
In a similar vein, buying new property tends to incur quite a hefty price premium, and for those buying ‘off the plan’ there is always that nagging risk that the final product doesn’t much resemble what was breezily sketched in the brochure (those busy main roads just never seem to feature, hey!).
Read the full article here
Chinese couples are lining to divorce amid rumours of ownership restrictions on couples
What lengths would you go to in order to buy the property of your dreams?
Moving states? Tightening your belt for the deposit? – Whats about getting a divorce?
According to an article on news.com.au couples in China have turned to divorce in order to afford a property.
IT APPEARS love doesn’t conquer all in China, well not the property market anyway.
Pictures have emerged of Chinese residents queuing up to file for divorce in Nanjing province following rumours of a tightening of property buying regulations.
With residents worried about married couples having to pay a larger deposit and a limit on how many properties they can own, some have chosen to divorce so they can buy property as two singles instead.
According to the Eurasia Review it is the second time there has been a rush to divorce as residents fear married couples will be restricted in what they can own.
When rumours of married couples having to pay bigger home deposits took off in Shanghai, so did the lines of people wanting to divorce.
Authorities denied the rumours but it was too late as some had already taken matters into their own hands.
The latest rush to divorce has hit Nanjing.
Click here for the full article
Ten subtle choices that instantly cheapen your home
Anyone who watches reality shows like ‘The Block’ has at some point considered themselves a property styling expert.
But is your taste actually letting you down?
This article from Domain.com.au has put together the top 10 styling mistakes for ‘at home experts’ to avoid.
Creating a thoughtfully styled home takes time, and there’s nothing more frustrating than buying the finishing touch for a room only to step back and feel like something is amiss.
Is it the position of the sofa? Is the coffee table too low?
When you’re close to a project, these simple styling choices might not seem important, but interior design experts say a few subtle mistakes can instantly cheapen your room.
Yes, even if you’ve splurged on a statement sofa or vintage artwork, something as seemingly insignificant as the size of a rug could undermine the space.
Curious to know if you’re committing a faux pas?
We turned to leading interior design experts to find out about the most common styling mistakes they notice when they first walk into a home.
Here are the top 10 subtle styling mistakes that instantly cheapen your home – and how to fix them.
1. Ill-fitting furniture
2. Store-bought art
3. Poorly positioned curtain rods
4. Cheap lighting
5. Undersize rugs
6. Overstuffed sofas
7. Dated bathroom accessories
8. Stock hardware
9. Too many accessories
10. Mismatched hangers
Click here for the full article
Weekend Video: How to speak Australian : Abbreviate Everything
Subscribe & don’t miss a single episode of michael yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to michael yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.