Real insights to assist your property knowledge
- Show all categories
- Property Investment & Management
- Selling Your Home
- Market Updates
- Buying a Home
- Renovating & Presentation
- Consumer Advice
- RealWay Community
- Agent News
- Property Investment
- RealWay Home
- Living Discussions
- Smoke Alarms
- Topics of Interest
- Property Maintenance
- Renting
- Renovating
- Research
- Buying
- Management
- Selling
- Tips
May 29, 2022
Tips to save your energy budget this winter
Rising costs and tightening household budgets are front of mind as we head into the winter months and as the temperatures start to cool off, the increased use of appliances to heat our homes can contribute to the biting energy prices. To avoid the bill shock that can sometimes arrive in time with your next energy invoice, there are a few things that you can do to reduce energy consumption and the costs associated with it. Fix draughty areas Look at areas where draughts may be prevalent in your home, typically under doors and windows. Around 40% of heat from the home escapes from windows and if you are a homeowner you may consider investing in double glazing which can bump up the energy efficiency of your home and have the added benefit of reducing sound. If you are renting, many hardware stores have solutions for draught excluders around windows and doors. Thicker curtains can keep colder air at bay and thicker rugs over hardwood floors can provide a cost-effective insulation approach. Check the hot water Hot water usage can contribute a substantial amount to energy costs. Tips like adjusting the temperature as well as washing with cold water or ensuring that you are only washing full loads are key to reducing those energy outputs. Turn off appliances Appliances in standby mode, not in use can still use energy. Even your phone charger that is switched on at the wall and not in use is still generating power. If you are not using the appliance or going away, ensure that you are switching appliances off at the wall to reduce the energy consumption being used by those appliances. Price check your current plan There is a myriad of energy suppliers in the market now. Check your current electricity and gas bills to make sure that you are getting the best deal and negotiate to find the best solutions for you. The Australian Government has created a very useful website to easily check all available competition within the market and provides estimates on how much each company charges. This can be one of the most useful energy saving tips to follow through with. Swap your light globes Where possible, make the switch with your light globes to those that are the most energy-efficient for the types of light fittings that you have in your home. More energy-efficient bulbs use as much as 75% less electricity and have the added benefit of lasting longer, which means replacing less often. Making a few small changes in our living spaces and habits can assist with reducing those energy bills and adds to one less shock the next time you receive your electricity or gas bill. Have you checked your property for signs of mould lately? Recent weather conditions has caused mould to appear in all sorts of spaces it isn't normally seen.
May 6, 2022
Smart homes: If these walls could talk
What is a smart-home? Not very long ago these words didn't have much meaning to us. Buildings used to be inanimate structures — but no longer. The advent of conversation-friendly buildings injects life into the membranes of homes (present and future). In terms of possible developments in technology, 5G will enable an era of connectivity like never before from autonomous driving, tactile internet, immersive technologies and next-generation IoT (internet of things) applications. The internet of things describes physical objects that are embedded with sensors, processing ability, software and other technologies that connect and exchange data with other devices and systems over the internet or other communications networks. This is also true of the built environment, which is increasingly helping its users to connect smartly, efficiently and more productively. Smart homes can warm the air temperature before you get home and remind you to get milk. The rise of conversation-friendly buildings As society transforms, powerful trends are reshaping businesses; driving new technologies, shifting our needs and changing human behaviour. Global think-tank FutureScope explores the complex journey from innovation to commercial success on a global scale. Even as far back as 2010, FutureScope reported that architects using sound-mapping software developed at Cardiff University in Wales could see the noisy hot spots where conversations in a room might become unintelligible. By altering room shapes and materials, they will be able to make meeting spaces, open-plan offices, and even cafes more compatible for conversations. The construction of smart buildings, technology-based structures that improve efficiency, helps to achieve objectives that benefit both the user and the environment. Sharing and integrating data between building systems enables the value of the combined smart homes to be greater than the sum of its parts. The reality On a broad scale, these smart-building aims have been realised at the National Grid in the UK (to improve the utilisation of buildings within the estate) and at the University of Technology Sydney (to synchronise air conditioning with a room-booking platform). Next-generation technology and artificial intelligence are also being utilised in our homes via pre-programmable applications and platforms (from self-locking and opening mechanisms to robotics-based domestic aids, including AI wardrobe choice assistance and grocery shopping reminders). When used smartly and wisely, advancing the breadth of technologies such as these frees up invaluable time and ultimately enhances our quality of life. Smart homes and smart buildings are now part of our society's landscape. One of the original smart home technologies - the smoke alarm - has recently changed had a legislation change.
Apr 29, 2022
Apartment living and the benefits of buying into it...
It’s fair to say that the national housing market is steadily peaking this year, hot on the heels of unprecedented price hikes in 2021. How is this affecting apartments? 2022 is signalling a turnaround in the unit rental markets and unit price growth could outperform that of houses, according to the SQM Housing Boom and Bust Report 2022. “With houses being overvalued, apartments are relatively affordable and are expected to be in greater demand from an expected rise in net migration from interstate and overseas with many borders now open,” says Louis Christopher, the managing director of SQM Research. In addition to the resurgence in apartment living that is trending in industry circles this year, there is another benefit of owning or investing in an apartment. That is the appeal of low-maintenance lifestyles. Remember the joy of cleaning gutters? Or mowing the lawn on a hot afternoon at your family home? Unlike a house that requires regular maintenance, apartments are a far cry from your weekend being replaced by a never-ending list of chores. Your apartment list might only be a fraction of what it once was, but it’s still vitally important for your property’s long-term value not to neglect regular checks. Maintenance diary helps to track ongoing needs Create a maintenance diary so most of the work can be completed on one day of the month, freeing up the rest of your time for what you prefer. It’s recommended, for example, that painting should be refreshed every five to eight years. And it’s best for longevity if three coats are applied to each repainting project. The good news is that apartments are generally more compact (i.e. manageable) than a full-sized house and thus are designed to halve the painting time. Carpet cleaning is another, together with window cleaning and ensuring your window furnishings and flyscreens remain in good order. Balconies are one of the biggest sources of leaks, so keeping yours tidy can prevent major issues in the longer term. If the budget is tight, consider defraying costs by pooling resources with neighbours and booking tradies for consecutive jobs. Who knows? You may even gain a discount. Checklist for buying apartments The Apartment Buyers and Owners education kit, produced by the Australian Apartment Advocacy, is a great place to start when considering an apartment for investment or personal lifestyle choice. The kit covers what questions to ask when looking to buy, information about the sales contract, a pre-settlement checklist, details about defects and how your rights are protected. Greg Watson CEO RealWay Australia
Apr 6, 2022
It's Tax Time. How Did COVID Affect your Net Worth?
It's Tax Time! If you're like me, tax time can be one of those times of the year which can go either way. A great refund can get you excited for a new financial year and a tax bill can get you down a little bit. Those two feelings kind of sum up the last year in the Real Estate market. It has been a few years of change for the Queensland Property Market. From the initial slowdown caused by COVID in the market and the fear of property, price crashes as we came out of the first lockdowns, through to a surprising resurgence in the market with fast sales and price growth over the last six months. The lack of properties for sale, low-interest rates, and government grants have been the biggest drivers of price growth. The shake-up to people’s lifestyles caused by the lockdowns and restrictions has also been driving the demand from buyers seeking a more suitable home in this brave new world we now live in. The RealWay team has ridden the property wave over the last financial year. We are seeing properties exceeding the prices paid in the 2014/2015 boom and even units are now moving quickly and for good prices. What's In Store for us Next? Will the prices keep going up? Will they plateau and stay steady? Is the bubble going to burst and property prices crash? The looming federal election for May 2022, the inevitable interest rate increases, and the banks tightening up lending will all surely have some negative impact. On the flip side when the borders reopen and immigration & tourism ramp back up, we would expect to see some positive effects on the economy and property pricing. So, what does it all mean for your property? Good news or bad news... What is your True Net Worth? It’s hard to know where your properties sit unless you watch the market every day. Lucky for you that's exactly what we do – every day we are appraising property, selling homes, and just giving people good honest advice. While we don’t have a crystal ball to predict the future, we do have our finger on the pulse and can accurately price your property in the current market. Did you Buy an Investment? If you have bought an investment property this year, then you should make sure that you claim any depreciation that you can. Your tax adviser will be the best place to get specific advice about your personal situation, but BMT Tax Depreciation Quantity Surveyors can prepare a depreciation schedule for your accountant to use. For more on how to increase rental income and deductions you can Read More Here or you could talk to our property experts. Get in Touch for Free Advice! Why not start your new tax year by being informed about what your home is worth? Give us a call, send us an email or a text and if you want to see how your home has weathered the storm of 2020/21, we are more than happy to help. We work weekends and after hours, it’s never a big issue and it only takes 15 - 20 minutes to get a quick update on price. Greg Watson CEO RealWay Australia
Mar 12, 2022
The Upsides of Downsizing
The thought of exchanging the maintenance of a larger home for a hassle-free future full of travel, friends, and newfound freedom is a common aspirant for downsizers on the move. Given the ideal replacement residence, more than half of Australians aged over 55 are open to downsizing opportunities, according to Australian Housing and Urban Research and similar sources. Once the reality of the children growing up and leaving the family home starts to wear off, there are many compelling reasons favouring the move to a smaller abode. The average Australian homeowner buys three to four properties in their lifetime. Traditionally, they trade up from their first home to a more substantial residence, often upgrading and then downsizing upon retirement. Financial incentives Incentives are in place to maintain this market cycle, with downsizing provisions enabling people over the age of 65 to sell their home and put an extra $300,000 in super. But firstly factor in selling and buying costs (including moving) and talk to your financial advisor about how it could affect age-pension entitlements by boosting your assets outside the home. Positive mindset More than anything, downsizing requires a shift in mindset and the need to separate your wants from your needs. Just like saving for your first home, it’s important to maintain a budget. Decluttering is an essential component of the downsizing transition. Review your belongings on a room-by-room basis and decide what to keep, discard, donate or sell. Embrace the space Given the reduced space at your new address, measure your furniture to ensure it fits the space and try to use one statement piece in each room. It’s also vital to make the most of storage where you find it – and there’s no shortage of potential solutions under beds, in cupboards, and in wardrobes. Also, mount your TV on the wall, make the most of Wi-Fi technology, and utilise multi-purpose furnishings where you can. Once you’ve settled into your new, streamlined space, embracing the downsizing adventure will be a joy as you embark on the next phase of your life. Consult your RealWay local expert to explore downsizing investment options in your region.
Jan 17, 2022
Don't Ignore Smoke Alarm Changes in Qld - Jan 22
For dwellings being sold, leased or an existing lease renewed Existing landlord’s and tenant’s obligations continue from 1 January 2017. Property sellers must continue to lodge a Form 24 stating the requirements of the legislation have been met. See New Smoke Alarm Legislation for more details. From 1 January 2022 All homes or units being sold or leased, or existing leases renewed, will require hardwired photoelectric, interconnected smoke alarms. Non-removable 10-year battery smoke alarms can be installed in place. Smoke alarms in the dwelling must: be photoelectric (AS3786-2014); and not also contain an ionisation sensor; and Be hardwired to the mains power supply, if currently hardwired. Otherwise, smoke alarms can be either hardwired or powered by a non-removable 10 yr battery or a combination of both. be interconnected with every other smoke alarm in the dwelling so all activate together. The legislation requires smoke alarms must be installed in the following locations: on each storey in each bedroom if there is no hallway, between the bedroom and other parts of the storey; and if there are no bedrooms on a storey, at least one smoke alarm must be installed in the most likely path of travel to exit the dwelling. The obligations on property sellers are triggered by the date the initial sale contract is signed. When a contract of sale is signed after 1 January 2022 , the seller is obligated to upgrade the dwelling to the updated interconnected domestic smoke alarm standard prior to the dwelling being transferred. The property seller must declare on a “form 24” to the buyer as part of the transfer process that this obligation has been discharged. How it could cost you more than a $1000? Failure to comply with the new legislation means a property being sold allows the buyer to claim 0.15% of the purchase price prior to settlement. So on a property sale of $900,000, this would mean they are entitled to claim $1350. So make sure you have installed all the necessary smoke alarms well before settlement so this does not become an issue for you. For more information on what is required please check the Queensland Fire Service Fact Sheets - Click here
Nov 19, 2021
Do You Need That Home?
1 min read This may seem like a strange question coming from a real estate group, but do you need that house or unit you covet so much? We all go through phases in our lives when certain aspects of a home meet our personal requirements. These needs are undeniable (like starting out on your own, moving in with a partner/spouse, raising children). Do you ever stop to think about what your choice of property needs from you in terms of time and finances? There is the cleaning to do, mortgage payments to make, maintenance and gardening. There may be great friends to be made or years of isolation as we work to maintain our coveted lifestyle. What about your life partner? Do we ever think of the pressures we can place on the one we love to maintain the property or keep up with the mortgage? Our desires, emotions and needs make complicated bedfellows as influences in the decision making about the type of home that we choose to live in. A good agent does more than market a property and negotiates a sales price. We consider your stage of life and advise you of some of the realities of owning a particular property. We professionally navigate the emotions of the property transaction between all the parties involved. A good agent will use their knowledge, skills and experience to make your property journey so much less stressful. So, finding a person who you can work with is key. Your agent’s core values are important because you want to work with someone that plays by the same rules you do. For example, if you are an honest person who tells the truth, would you not want someone to be open and honest with you? Greg Watson CEO RealWay Australia
Oct 17, 2021
Inside Your Agent's Mind: Strike a Partnership
If you’re thinking of moving home this year then it’s very likely that you’ll seek the services of a real estate agent. Real estate agents currently sit alongside bankers as one of the most vilified professions around. However, the majority of sellers will still use them when trying to sell their home. I thought, then, that it might be useful to have an insight into the house buying process through the eyes of a real estate agent. With over 30 years’ experience in the sector I have insight into both sides of the business. New Listings are the Key Driver for an Agent The lifeblood of all agents are the new sales listings and they will be targeted heavily in this area. Without new listings a real estate agent’s business won’t be successful as potential buyers follow property not agents. They will soon drift away if they see no new properties on the market. It’s even more important with the property portals of realestate.com.au and domain.com.au for an agent to have new stock. Without this their property will look dated very quickly as buyers search the web daily and receive new property alerts. RealWay’s Tip Agents will try anything to win your listing including overstating the price when giving you their appraisal and cutting their fees to the minimum. Don’t fall for either of these tricks. Always ask your agent to provide evidence of the recent sales they have used of similar properties to your own and the price obtained to make sure that you are setting a realistic market price. If they don’t bring this with them to the appointment they are not prepared or might be hiding something. Don’t always go for the cheapest agent. Make sure you do your research and instruct the agent that has a good track record of sales and a strong reputation in your area. How to Find the Best Agent in Your Area You have to do you homework to find the best agent for the job. The top 20% of agents account for more than 80% of property sales so it is important to select one of these. The quickest and easiest way to find the best real estate agent based upon their past sales record. RealWay’s Tip Make a list of agents active in your area. Look for "For Sale" signs in your area Search online property listings in your area Ask friends or family for their suggestions with their reasons why Once you have a list you can rank the agents based on the following criteria. Do they have a high profile with lots of properties for sale? How quickly and how often do their 'For Sale" signs turn to "Sold"? Do they letterbox drop flyers and brochures? Look at the quality of their adverts for listings online Do they use social media to advertise listings? How strong is their database and how well do they use it to find buyers? More Inspections Means More Sales. It is a simple truth but the more inspections that a real estate agent can arrange, the more sales they will make. It doesn’t matter how much searching of property portals a potential buyer does. It's not until they start inspecting homes that they are seen as a serious purchaser by a real estate agent. Once an estate agent obtains a new listing, they’ll pull out all the stops to get people through that property as they realise it can take, on average, as many as 15 inspections to sell a property. RealWay’s Tip You should get your first inspections fairly soon after your property goes on the market. If you have gone around 2 weeks without an inspection discuss this issue with your real estate agents. it could be that the price is too high that's property has not been presented I'm property portals on their own website. also, you need to be aware that the agent could have moved focus to their new property listings. They may need a bit of a push to refocus back on yours. Reducing the price by just a small amount and redoing the photographs can give the marketing of your property huge boost. By doing this, it will now appear the same as a new listing on many property portals. By the same token, you should read the description carefully and check that it is accurate. The best agents will write the advert with you as they know that you understand the property and what you love about it best. Most Inspections are Carried Out on a Weekend and Most Offers are Made on a Monday. It may appear obvious, but the majority of inspections are carried out over the weekend with most offers being made on a Monday. For this reason, many real estate agents will wrap up their week on a Monday to obtain the maximum sales for the week. RealWay's Tip Why not join the crowd and arrange your inspections for the weekend? It’s likely that your buyers are visiting in a number of properties within the space of two days and can therefore make an instant comparison. If you arrange inspections for earlier in the week it is unlikely that they will make an offer before they look at more properties at the weekend, by which time your property will have faded in their memory. Most real estate agents don't give feedback after an inspection for some reason, most real estate agents are very remiss when it comes to giving sellers feedback after an inspection. I believe this is vital information that all sellers need to tell when selling their property. Potential buyers are very critical, and quite rightly so, and will be quick to let the real estate agent know if a property is overpriced and in need of a makeover. RealWay's Tip After every inspection of your property make sure your agent obtains immediate feedback from the prospective buyer. Tell your agent that you want this feedback “warts and all” so that you can take action to address any issues and, as a result, sell your property. Sellers can be “pigeonholed” by an agent it is only human nature that a real estate agent will form an opinion of a seller through their interactions with them. it is advisable to be as flexible as possible in dealings with your agent especially when it comes to discussing offers on your property. RealWay's Tip All offers are negotiable so don't be too quick to dismiss offers, no matter how low they might be. Potential buyers can come back time and again with improved offers and end up very committed buyers, but these could have been lost at the outset by an intransigent seller. Therefore, encourage offers and be polite if declining them to prevent your agent from “pigeonholing” new as a stubborn seller. The best practice is to take all offers in writing as this commits the parties to the negotiation process. Real estate agents earn money from arranging your mortgage but that's not a good reason to say no. any agents of rain a mortgage service will earn money from this service on this puts many people off. let's be clear here any company arranging your mortgage will earn money from it and that's just business so don't be too quick in declining the agent service for a referral. RealWay's Tip Many agents of for excellent professional service may be able to source a really competitive deal but you need to be aware that they will probably not have access to all the deals in the market. as well as talking to the estate agents mortgage advisor do your own research to contact an independent financial advisor to make sure you are getting the best deal for you. Real estate agents are not conveyancers. Once you have agreed on an offer on your property and signed a contract the conveyancing process begins. One thing I would like to make clear is that a real estate agent is not the conveyancer but often simply the messenger between all parties involved in your sale. So if you are having issues, by all means, speak to your agent but be aware that they are only passing on information they have been told. A good agent will no doubt smooth the waters and help sort out a problem. However, maybe a call to your solicitor may produce better results. RealWay's Tip Make contact with your solicitor or conveyancing company soon as your sale is agreed upon and understand the conveyancing process. Build a good relationship with them and get an estimated timeline from them for the completion of your sale. When selling or purchasing a property, the contract of sale has a number of milestones so it’s important that everyone involved makes sure they a met. You will be very lucky if everything goes according to plan so being prepared for problems at the outset may help your blood pressure in the long run. Real estate agents asking for your sale complete as you are Moving house is one of the most stressful events in anybody's life. They say it is second only to death and divorce! But be aware that an agent will not earn a cent until your sale has completed settlement, so they are as motivated as you are for the sale to complete. RealWay's Tip Build a strong relationship with your agent and regularly discuss the marketing of your property and any changes that need to be made. Just instructing an agent with a listing on then sitting back and hoping to achieve a sale is leaving your future in the hands of somebody else which is never good advice. If you are looking for an agent with integrity and strong local knowledge, request an appraisal from RealWay [rex_form_button name="Sales/Market Appraisal"]