The First Home Buyer’s Pocket Guide to Property Lingo

Escaping the rental roundabout and buying your first home can feel a little overwhelming. It’s almost certainly the biggest financial decision you’ve ever made in your life, for one thing. For another, there are suddenly so many people to deal with, and so many new things to learn.

One thing that can help is understanding the lingo. You’ll come into contact with most or all of these phrases during your home buying journey, so here’s a handy glossary to help. We’re not saying you have to print this article out and take it everywhere you go – but we’re not saying it’s a bad idea, either. Continue reading

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When Neighbours Come Together

Edward has lived in the Belconnen area for over fifty years, he raised his family in a simple three-bedroom, red brick home with a giant backyard that would make any young family jealous.

He’s always known there will be a time to sell but it’s not something he ever gave much thought to. Until one day, when his next-door neighbour knocked on his door with an idea Edward had never considered – “let’s join up and sell our homes together”.

This is not a new concept to real estate. Long a trend in Sydney, builders are looking for other options to meet the needs of growing cities. Back in 2016, 62 owners in Sydney’s French’s Forest teamed up, sold off a combined 4.3 hectares and were paid just under $200 million.

But how relevant is this to Canberra and people like Edward? Curious to know more, we spoke to Wayne Harriden, Executive Director of Project Marketing at Independent Property Group. Continue reading

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How Long-Term Leases Can Solve Rental Woes

Catherine still has possessions in storage from the last time she moved. It didnt seem worth finding spaces for them all when she knew shed have to box them all up again in a few months, so now shes paying for a storage unit as well as her rent. Shes already moved four times in the past five years, and her lease is up in six weeks. Shed love to buy some plants for her balcony, or choose her own paint scheme, but it doesnt seem worth it when shell just have to move again shortly.

At Perspective, we hear several tales like Catherine’s. These are tenants who want nothing more than to settle down in one spot, find their favourite local cafe and introduce their children to the nearby schools. But instead, they’re asked to move by landlords who want to sell up, move in or renovate. Some landlords also only offer six-month leases, and because there’s so much competition for the longer leases, tenants like Catherine might find themselves with no choice but to accept six months. Continue reading

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Owners vs. Tenants…Who Rules the Strata Roost?

With an increase of apartment living in Canberra, we are seeing more tenants moving into unit titled complexes. And whilst tenants are required to pay rent to the Landlord and follow the house rules of the complex, they do not contribute financially to ongoing maintenance or upgrades to communal areas. This means there are limits to how much input they have in the decisions made by the Owners’ Corporation.

These limits result in tenants sometimes feeling like they’re out in the cold with no way to be heard when it comes to the complexes they call home. If a tenant wanted something from the Owners’ Corporation, for example, a minor modification to their property or permission to keep a pet, they would need to forward the request to their property manager, who would take it to the landlord, who would raise it with the Owners’ Corporation. Continue reading

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How to Nail Your Open Home

Open homes are a hugely important part of the process of selling your home. Hosting an open home is a little like dating a stranger. As a seller, you want to put the best possible spin on yourself and your assets, hoping to entice the other party into a second date. You don’t want any old buyer, after all. You want ‘the one’ who is going to love your home the way you love it and pay a premium to have it.

Opening a home for potential buyers to stomp through is like the crucial first face-to-face encounter after online dating. People have seen your pretty profile picture online, that artfully styled selfie with special lighting and an Instagram-approved beauty filter, and narrowed down the field to a list of “maybes” based on their preferred criteria.

But now, they’re about to get up close and personal with the real thing. What if the potential buyer takes one look at your lovely-but-maybe-slightly-run-down home, puts it in reverse and heads straight back out? What if all they see are the tiny flaws, like a bathroom that’s too small, instead of the potential for a true dream house?

How can a seller improve their chances of a prospective buyer falling in love with their home and making them want to marry…er, buy it? Continue reading

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