If you are a landlord, taking care of the property will manage to stress you out. Yes, there are major details that you should be paying attention to about the property and to when it comes to getting the ultimate best out of these properties. You have to make sure that you focus on all the right things to do in order to benefit to the fullest with the property that you are handling.
When it comes to benefits to the fullest with the property that you are handling and to avoid any of the trouble, one of the best things that you can do is to use gain the services of good rental property managers who will manage to bring about the finest outcome. Here are some of the major benefits that you can gain from hiring these professionals who will handle the property in the finest possible manner:
To Set the Right Rate for Rentals
One of the most complicated things that you will have to handle is setting the rental rates. You have to assure that you set the rates that are just the right price, not too high or too low. When you gain the services of property managers Addington, you will be free from the down comings that you have to deal with setting the rental rates. The experts will be aware of the market and what needs to be said and done in setting the right price for the rentals.
Collection and Handling of the Rentals will be Made Easier
You might be busy with your busy schedule that you will not be able to make time to handle the rentals. Yes, managing the time can be quite stressful. However, when you have the expert help, all that you have to do is to sit back and relax because everything will be brought to you without any hassle at all. There is no need to deal with difficult clients or be frustrated by late payments.
Brings About the Best Marketing to the Property
When it comes to renting a property, a vital hurdle that you have to get through is the marketing. With the experienced in the field, you will not have any issue in marketing the property that you are handling. Getting the professional help will bring in major benefits in reducing the time of vacancies.
That is not all, finding the right tenants will be done with ease assuring that your property that given the best care, security and maintenance.
Most of the people seem to consider doing an examination of a real estate is something only a buyer has to worry about. A seller does not have to go through that process. Actually, even if you have been living in a house or using a shop for a number of years, you have to get it checked by professionals before you put it into the market for sale.
Any seller who knows about the selling process gets a building inspection done because he or she knows this truth about the process. Any such seller goes through that process because of several reasons.
To Understand and Fix Problems
If you are selling a house it would be better to know the problems it has because then you get a chance to fix the problem. We all know if we have something broken we can never sell it to anyone else. Even if we do get a chance to sell it, because it is broken, the price will naturally be lower than what we wanted to have in the first place.
To Have More Power to Negotiate
If you put your real estate on to the market without going through property inspections and the buyer does an examination of the real estate using a professional you may have to face a problem. You will have to face a problem if there are issues with the place and you did not know about it earlier on. If you do the examination of the real estate and get to know about these issues before any buyer can, you can come up with a strategy which will offer you more negotiating power. If you do not have a strategy in that way you will either settle down to sell the real estate at an unfair price or lose the buyer.
To Win the Trust of Potential Buyers
Most of the times buyer refuse to buy real estate with issues even when they know those issues can be solved because they do not like the idea of the seller lying to them. Therefore, if you are honest with the issues your real estate has from the very beginning you have a higher chance of selling the real estate to your buyer without losing his or her trust.
By engaging in the simple and useful act of getting a real estate examination done you are doing something beneficial to you. As long as you hire a reliable company for the job you will have nothing to worry about.
Hunting for a house is difficult at the best of times. It has its own share of problems compared to apartment hunting but it can be argued that they’re on the same level of teeth grinding and false promises. They share similarities in terms of trying to decide the right location because the environment and neighbourhood can be crucial factors in deciding the suitability of a prospect. Apartment renters will have landlords, fellow owners of the same space and the rent to deal with. House owners will need to pay off an ongoing mortgage and their own properties are arguably more difficult to maintain. Depending on the suburb the level of attention to care and maintenance will differ. Ideally, however, you at least need to make the house and its surrounding yards look inhabitable.
When it comes to searching for a house, real estate agents are generally the go-to industry for advice. They are the businesses you see on the large signs outside vacant homes, their names and logos loud and proud. They can provide all sorts of information about locations of new properties for sale, including location, number of rooms and facilities. You can see their prospects all the time on their store windows so you don’t even need to go inside to check what’s on offer.
There are numerous real estate agents doing business at the moment so you’re never too far away from one if you need it. Most real estate agents have their own websites where computer-savvy potential customers can browse their wares at their own leisure, see this property management in Berwick. The ideal website will have a property search function to allow users to pinpoint their exact house at the ideal location and price. A feature like this is vital for giving customers choice and a proper, deeper look into what’s on offer. The option to rent is also available but the methods to analyse the properties are largely the same.
A select few real estate agent websites won’t stop at their basic function of selling you a home. For those who feel they may have financial difficulties in affording their ideal place, some websites offer financial tools and advice. The most basic websites should have financial calculators. These can assist in determining monthly payments of a mortgage. Other types of calculators include loan comparisons, budget planners, term deposits and loan repayments. Depending on the real estate agent there are several calculators for all types of purposes. Home loans are also available to customers if they need a financial boost to seal the deal. However, the wary customer is within his or her rights to make sure he or she knows all the details before signing on the dotted line.
Real estate agents are there to help you make the best decision. If you ever need help deciding where to put a roof over your head you can do worse than give them a call or a visit.
You might think that building permits are just another way of the local powers controlling what you can and cannot do to your own house, after all it is your home so why do you need someone else’s permission to add a home extension? What really is the point to a building permit?
It is true that building permits can be difficult to come by and for a lot of reason there is a lot of politics involved in the process of applying for a building permit and any little complaint means that a building permit is never likely to grace your letter box and your dreams of a perfect home could be tatters. It doesn’t even have to be a complaint which is relevant to your building plans, so if you have annoyed your neighbour or the neighbourhood doesn’t like you for whatever reason then you can say goodbye to your building permit.
This doesn’t sound like building permits are actually all that useful because building permits can be clouded in corruption and petty arguments, and the probability of getting a building permit is like finding rocking horse excrement of watching pigs flying in the sky – pretty much impossible.
However there are some useful tips that can make getting a building permit a little easier, or at least the prospect of getting a building permit a little easier. Don’t worry it isn’t anything illegal or unlawful, just a way of making life easier for yourself and others with regards to a building permit which can go a hell of a long way.
Here are a few reasons why you need a building permit.
With building permits there are a lot of questions that need answering when you apply for one so supplying as much information as possible with regards to your building permit plans is a necessity.
For example names of the applicants, addresses of the building permit and addresses of the applicants if they are different, names and contact information and an analytical description of the building work you are planning.
All this information makes the process of applying for a building permit a lot easier, smoother and quicker.
To be thorough you should also supply blueprints of the building work which has detailed information with regards to the size, shape and dimensions of the house extension or whatever building work you are planning.
Submit the application
When you submit the application for a building permit with the relevant documentation make sure you do it in person because then you can ask any relevant questions that you may have with regards to the building permit process.
This allows you a little margin for error because you could find out some information you haven’t included before you submit your building permit application.
As the housing business and marketing is gaining momentum, most owners and house sellers are changing from the traditional way of using estate agents to sell the house and everyone goes with I sell my house privately. Most estate agents charge a commission on the final sale price of the property, which means that the owner incurs more cost. However using the online way enables owners to market and sell the property spending a reasonable amount even though they take full responsibility including the marketing, the negotiation and the final price.
In private house sales without requiring services of an agent, there are certain things that one need to consider. The important thing is to make the house sellable. These include tiding, painting, flooring and sliding which determines the value of a house aiming to attract the buyer. There are important areas to consider such as the kitchen, the rest rooms and the parking area. Once the house can be sellable, what follows is to take the best photographs of the property. This involves hiring a professional photographer who will use their skills and experience to capture best and appealing photos that will act as a marketing strategy to the property. These photos will be uploaded to the websites and social sites, or even in newspapers and magazines. Since most people rely on the internet for research, they will most probably come across the sizzling pictures and find an interest in them. You can visit this great site for more of for sale property.
After making the property best for sale by owner marketable and displaying it, the next step is to place the price. With pricing owners are tied between getting the property sold faster and getting the best returns. Therefore what should be considered is the relative pricing. The cost of the property in its pricing will determine how many clients will look at it. When dealing with private real estate sales, owners should consider the trends on the internet and determine the pricing without requiring help from an agent. Okay, the house is posted and the prices are placed. What follows is to provide a description of the property. This is also a marketing strategy as how best a property is described will determine how many people will have an interest in them. The description will entail how wonderful the house is with the enticing features and design skills. However a lengthy description can make buyers skip them and it is advised to place a brief and appealing description which should be accompanied with pictures.
Now that the property is posted online, then is the responsibility of the online agent to stage them, list them and arrange the viewing. The owner should be readily available whenever a prospective buyer wants to come and view the house, since it is private selling; there is no need for an agent. The owner has to find time and take the buyer around while negotiating for the price and getting the final price. Later a legal expert is called to oversee the handing over of the property.
As children, we take certain things for granted, don’t we? I remember thinking that things went in this order: first you go to kindergarten, then you go to primary school, then you go to high school, then you go to work or further studies, then you get a job, then you get married, then you have children, then you have grandchildren, then you grow old and die. To my young brain, everything was clear cut and had its rightful place. However, life experiences soon taught me that life is not that perfect in reality. I have a friend who had this same order of thinking as me. Penny achieved every step of that ideology, including a great career, except the part of marriage. She came close to marriage twice, but for some reason either on his part of her part they would break off the engagement. Each break up left her more jaded to the point that she would throw even more of herself into her career. When she reached her 40’s, she started giving up the idea of having children. Her hopes for marriage also started to fade.
With no prospects of a partner to share the rest of her life with, Penny started to worry about her future. Her sister, who is a financial planner, advised her to increase and diversify her investments instead of relying on a marriage partner to take care of her. Penny already had investments in shares and gold, so she decided to look for a unit or townhouse she could purchase and rent out as an investment property. She started by looking in Melbourne, but quickly realized that housing prices in this state was too high for her budget. So she checked online for affordable units and townhouses in the other states and found some in Brisbane that were affordable. She liaised with a real estate agent in Cannon Hill who was able to help her narrow down her search to three houses based on her needs, requirements and budget. Penny made a trip to Brisbane to inspect the three houses and chose the three-bedroom, two-bathroom unit, which was in a compound of four units. Her offer was accepted and Penny felt a sense of achievement.
The only problem was that she would have to be a long distance landlord because she had to return to Melbourne to work and her . Fortunately for her, the company that her real estate agent worked for also provided. Penny hired them to take manager her rental property. They took care of everything from setting the initial rent level to collecting the rent to adjusting the rent. They were also responsible for finding the tenants, dealing with complaints and emergencies and initiating evictions. Penny is happy that her investment property is in good hands and that she now has real estate in her investment portfolio.
A property for sale is usually among a long list among the many houses for sale that a buyer will see, for this reason it is important to always have a first lasting impression during the presentation to the prospective buyer or buyers of the house. The more desirable the property appears the better the sale price will be and this means a great return on the original investment.
Properties for sale should usually be clean and well maintained , this usually complements the presentation as the this enhance the qualities of the property on sale. A well cleaned properly will appear livable; equally cleaning accumulated clutter to show the spaces is an added advantage as the buyer has the freedom to picture themselves in the property.
If engaging the services of estate agents, ensure the desired decorations are kept neutral to avoid individual or personal presentation alongside the property. The neutrality of the decorations will suit a variety of the targeted clientele. The best choice to have a selection of paintings are mirrors to fill the blank walls, vases and flowers usually improve on the general home feel of the property.
Houses for rent during presentation should communicate practicability and comfort to the targeted tenants, features should complement the community environment and have a complementary aspect of the various lifestyles of the intended tenants. If they are old then this should consider the fact they tenants will spend too much time in the house as opposed to younger tenants
Aspects on land for sale are not universal as there are many forms of ownership existing n different cultures throughout the world. Many are quite informal in the way they operate, for proper presentation it is best to have a presentation that will indicate that the system of sale and purchase is formal and structured.
Some companies in real estate business usually sell large tracts of land, such land estates agencies present the purchase proposition to high end investors such as corporations who are seeking to expand their businesses based on the current infrastructure development opportunities in specific areas and the benefits are usually long term.
When new clients are buying houses, they need to have them inspected and they follow the recommendations of the experts. The house inspections are so thorough that buyers can simply use them to either proceed with the buying process of rejecting the buildings altogether. This article is an account on how building inspections help those buying new houses for the first time.
1. The process of buying a house either directly or through a mortgage is a long one. For many people, it is always hard to carefully scrutinize all aspects of the house on sale. Inspectors are, however professionals who understand what areas should be stronger and which ones do not matter much. For instance, they will be so keen on the roof, drain lines, plumbing system and electrical parts because these are the crucial areas that define the house.
2. When you contract an inspection professional, you are assured of getting holistic comparison of the way the house has been done and others completed recently. Therefore, it is a great opportunity to get advice on whether the house is worth or not. If the inspector tells you that it is not, he will help you to get a better one from others areas he has inspected houses in the recent past. Remember to scrutinize the new suggestions so that you are sure they are a perfect match with what you want.
3. Building inspectors understand the legal standards that have to be met when purchasing houses. For instance, the central government is so focused on enhancing the safety and integrity of a house such that it has clear guidelines on basement constructions, drains lines installations and even roofing. The inspector will tell you whether these standards have been met. Some construction firms can compromise the standards, especially for the hidden parts which is dangerous to the occupants. Even in the event that the compromised focus is not directly dangerous, the lifespan of different parts of the house will be shorter.
4. When property investors fix prices for their premises, they are in the race of optimizing their returns. Their joy is being able to make as much as possible from each unit. However, inspection reports act as tools to bolster your negotiation to have the price adjusted downwards. Even if the house looks good and some sections in the basement have not been completed with water resistant sealant, you will be able to argue that such costs are going to be incurred in the near future.
5. At a time when accidents and disasters easily bring down premises and cause huge losses, the buyer wants to get a house that has been established in line with what insurance firms want structures to be. You do not want to get into a house that you will be required to redo the electrical part before any insurance firm accepts to cover you. Inspectors speak the same language with cover firms and will only approve buildings that will be accepted by insurance firms. In many cases, approved structures are classified as low risk entities so that you can enjoy lower premium rates.
There are many different ways to purchase a property in contemporary society, although three main ways are suggested as the most common. These include someone having the opportunity to purchase a block of land and then hire a team to build a dream home; or someone deciding to buy a house or unit outright or someone deciding to rent either a house or a unit. There is a fourth way to go about purchasing, although it has its own downfalls. Specifically speaking of units, there has been a slight uprise in the way individuals have decided to purchase them, attempting to get some benefits that could not otherwise be available.
Today, more and more people are deciding to purchase apartments in Wollongong. While this seems complicated and frightening, it is a simple concept. All this means is an individual or group has decided to purchase a property that has yet to be built. It is all legal and does involve contract work. People have the option to deposit money and sign a contract upon seeing a plan/design of a future property. The location and area is known before individuals sign the contract.
The act of purchasing something via this means has its benefits and downfalls, like most things in life. A key reason that someone may decide to buy property via this means is that it is cheaper. By paying before the unit is built, owners are able to avoid paying the market value which may increase over the years while the property is being built. However, it should be noted that things could go backwards. Although most properties increase their market value over the years, there is always the chance that the property one purchases could decrease meaning that one may end up paying more for their property than what its worth.
Conversely, seeing a property be built that is entirely yours to own also means that the owner has the opportunity to voice opinions on the interior design, including paint/wallpaper and floor plans which means the property could end up with a nice personal touch. The downside of this is that you do have to wait a number of years until the property is complete. And there is always the fact that the property may never be complete. The fact is that developers may go bankrupt before the property is able to be complete, leaving people with no property and no money or a difficult case on their hands.
Much like other routes of buying from new apartments for sale, this too comes with its own benefits and downfalls. Before purchasing and agreeing to anything, one should always have a careful slow read over the contract before signing it. It is crucial in ensuring that one gets the best deal for themselves. It may even be worth going over the contract with a professional who can advise you of the realistic expectations in one’s specific case.
In order for a person to be a good realtor, he or she needs to be able to prove that. One effective way is by ensuring that a person has good selling skills. The person also needs to ensure that they are familiar with the real estate industry. There are a number of things that a person could do in order to be better in their operations. For starters a person could identify the successful realtors and learn from them. There are many advantages in getting a mentor. Often the famous real estate agent that is successful has had to go through a myriad of challenges and failures before they eventually became that best. This therefore means that by emulating such a person, the wannabe realtor will not have to repeat those mistakes. A person is able to learn proven and tested techniques.
A good businessman is one who is able to come up with strategies, try them out and review their implementation and effectiveness. A person who is unable to learn from their mistakes will definitely have a difficult time growing. This is because they might fail to realize what area they need to improve on. In the event that a person fails in an area, instead of sweeping the experience under the carpet one should ask him or herself what lessons can be learnt from it. Similarly, in the event that a person succeeds in either selling a property or signing up a property investor, a person should ask themselves the thing that they did right. The reasons for failure should be avoided while the actions that led to the success should be encouraged and even repeated to produce similar results. By doing this a person will realize that they are getting better in the real estate trade.
Agents who thrive in real estate Tapping sales have come to understand that the trick to the business is in loving what one does. This in essence means that an agent’s first priority should be to provide solutions to property owners, and not to get commissions. If a person’s focus is to get commissions, they most likely might end up with no business at all. However, if the person is keen on providing quality service, definitely the commissions will trickle in. This is because the satisfied client will reel in more clients through referrals and recommendations. The property industry operates mainly through referrals and recommendations. A person looking to put their property on the market will have to look for agents. Most definitely they will go for agents that are experienced and whose reputation supersedes them.
A sales person knows that the trick in becoming better in sales is to be informed. An agent needs to have a good understanding of the property industry. He or she should understand how to value properties, know who their customers are and how to get the clients. Actually, it is often said that a good agent should be a walking encyclopedia of the neighborhood. They should know which property is being put on sale, which is on rent, who the owners are and what the price and terms of payment are. This information should be in possession of the agent even before the property is advertised.
Self contained units for sale Neutral Bay are very suitable for those people who are single or those that do not have a big family, the units allow for them to have a kitchen bathroom as well as a bed room all in one, this sometimes is very comforting as people get the chance to buy something that they can afford, usually when a unit is available for sale they usually goes very fast so people have to ensure that they check online or in the local paper regularly for when town houses go on sale.
Units are available for sale all over Melbourne, students going to university sometimes pay rent other times the opt to live in these types of units, this is no problem as units are created nearby so that the student may use them, students attending Monash university can get the chance to live in units as they are usually units close by.
The inexpensive units available for sale so people have the option of either buying one to live in or they may choose to buy more than one unit, this way they get the chance to buy the units and then put them up for rent to students or single professionals, this way by the time they are ready to live in there, the money they would have paid for the house could be completely gone as they would have gotten in back from those paying to live in them. Because the units are sold so quickly those who are in real estate should try to specialize in selling units as they would do so and get a higher amount of salary.
When selling the units most realtor sell by placing signs on the community gate saying that the new units will soon be available this gives people time to gather the money to buy the units before they are no longer available, in addition to that there is also websites used to advertise the units for sale, these websites gives the address of the unit, the space available as well as the cost of the unit people who want to buy the units when the are available for sale may choose the Internet option as well as they may walk into the real estate agency to get all the required information.
When a unit is bought homeowners have the option to add additional features to it, this is because there is no signed document prohibiting them from doing so, if the homeowner gets married and have kids and still have to live in that unit, all they have to do is to get the amount of money needed to add the home extension, then they are good to go, they have to inform the officials that they will be doing this so as to get the new tax agreement and more.
A mere few years ago, no property owner would contemplate selling the house without involving a realtor. Times have changed to an extent that private home sales are becoming all the more popular. The fact that Internet has emerged as one of the most important tools of trade means that property owners are able to sell their houses without involving any high-end or low-end estate agent. The emergence of online selling platforms, such as private sale websites, has also meant that more owners are now willing to do the sale themselves as a way of limiting the amount of money that they pay the real estate agents.
More owners are realizing why they need to embrace the . They understand that this strategy accords them the opportunity to save money. Owners are able to sell their private houses for a higher pay and not worry about paying the real estate agents, whom they no longer have to deal with during any stage of the sale. Normally, the agent would charge around 2% of the actual sale price as his fee. By eliminating the real estate agent, the private owner is able to save the 2 percent of the entire selling price that he would ordinarily have to pay the realtor, an amount that could run into thousands of dollars.
During the property boom, many real estate agents exploited the market. Buyers and sellers alike suffered from this exploitation. Most real estate agents would increase their fees without necessarily improving the quality of services they offered during sales conducted by the property owners. Buyers needed more and more houses and this led them to the real estate agents who saw the increased demand for their services as an opportunity to increase their fees. It is only now that the real estate agents are deciding to reduce their fees after realizing that more property owners are opting to take the for sale by the owner approach.
The fact that the owner is conducting the sale himself means that there is very little possibility of losing any message due to poor translation. Moreover, information passes from the owner to the prospective buyer in a very short span of time. This is not an indication that the real estate agents often twist the information they pass from a seller to the buyer or vice versa. What this means is that there is clearer communication between the seller and buyer and very little confusion, if any. This means that the transaction is able to proceed smoothly without much distraction, confusion or waste of time.
Finally, a private sale is a much easier and simpler process through which to sell a house. All the bottlenecks that would prolong the process are eliminated. Many property owners are realizing that talking or dealing directly with the prospective buyer is a much simpler and easier exercise. The transaction is concluded in record time. Real estate agents apply a lot of pressure on the seller and buyer to conclude the sale quickly. When the owner takes charge of the entire process, he has no reason for worrying about such pressure. He can conduct the transaction at his own pace and conclude the sale when he believes that it is right to do so.
When a person wishes to sell their house or building, it is often their wish that the sale process can be a quick one, and that the property does not stay on sale for long. This is why a person who is looking to buy or sell property would be better off consulting the agents. For instance a property investor who wants to sell their property will be able to locate a buyer for their house much faster if they contracted the agents. This is because the agent meets with different players in the real estate industry. They therefore know who is looking to buy a property that is one sale.It is one of the reasons that make the real estate agents to be a vital service provider. They have first hand information about the industry.
They know the hottest property investments that are on sale in the area, they know the right prices to either buy or sell, and most importantly they know which client is looking to buy property and at what price. This does not imply that the only way that a person can get to sell a house is through the agents. A person can still get to sell their house quickly on their own without selling the house at a price that is below the market price. However, for that to happen a person there are a number of things that a person ought to do.
First of all a person will need to carry out a proper assessment of the real estate market and price.Just because a person needs to sell their investment property in Liverpool quickly it does not mean that they should make a rash decision. A wise investor would take their time and make an analysis of the current market developments. A person should ascertain if there are other competitors who are putting up their properties on the market, and at what price are they doing so. A person should also try and find out if there are properties that are similar to theirs. In case there are properties that are similar, one should find out what their market price. Also a person should determine if there is likely to be a significant development in the area in the near future that would lead to significant changes in demand and prices of the houses.
Once a person has thoroughly analyzed the market conditions and ascertained the right market price he or she needs to carry out sensitization activities. This will involve carrying out marketing and publicity stunts to make the potential buyers aware that the properties are up for sale. It will be of great impact if a person invested in marketing and promotional instruments. A person could for instance advertise on the internet using the various online interactive platforms.A person could also put an on sale sign at the site. There are a number of places where investors in the real estate shop in order to look for hot selling properties. This includes magazines and real estate journals. By placing a promotional ad on these avenues a person is likely to get faster responses from potential buyers.
The total value of the property market in Australia has increased dramatically in recent years, after a brief pause in growth in 2008 caused by the world wide Global Financial Crisis. Year on year since June 2013, the average price of housing in Sydney has increased by fifteen point four per cent, with the average property prices in Melbourne not being far behind in terms of year on year growth at nine point four per cent, data shows. This growth is being primarily led by an increase in levels of property investment, rather than factors such as population growth. Australians have had a historical love affair with investing in property, with levels of investment in real estate here greatly exceeding the international average. With the Global Financial Crisis denting international confidence in stock markets and complex financial products, investors throughout the world are discovering a similar love for real estate investment. Australian real estate in particular, due to Australia’s comparative economic strength and relative political and economic stability, is becoming a favourite for international investors, many of whom are purchasing Australian real estate investments through buyers agents, who help them navigate the differing legal and property market context of the Australian real estate market.
Although a buyer agent real estate agency may be particularly ideal for an investor purchasing property from overseas, a buyer real estate agent is ideal for many types of buyers. A buyer specialist real estate agent essentially acts as the , because, unlike a traditional real estate agency model, the real estate agent is only representing the interests of the buyer, not of the vendor or another party. It is important to ensure, however, that you are dealing with a genuine buyer agent. Some real estate agencies will advertiser themselves as a buyer agency while actually conducting activities for vendors, either under the same name or in a related business. It is also worth checking if your real estate agent is a member of the relevant state or territory real estate association: for example, in South Australia, REISA, the Real Estate Institute of South Australia.
If you do acquire a real estate investment, then a property management firm can possibly be the ideal solution for the ongoing management of your investment. A acts as the liaison between a land lord and tenants, handling such things as renting out the property, maintenance requests, and the like. For investors who live away from the location of their investment, or who simply live a busy life, a property manager can save much time and hassle. Please do not make any investment decision on the basis of this general interest article. This is not professional advice, and should not be considered a substitute for such. Obtain your own independent advice prior to making any financial decision.
Let’s start off by establishing something; granny flats are no longer just for your granny. They can be teenage flats, adult children flats, home offices or just about anything. So how can a granny flat add value to your home, read on to find out.
1. Dual occupancy. A granny flat is generally detached from the main dwelling (main house). This makes it perfect for a dual occupancy. This basically means that you can live in the main house and rent out the granny flat to an outside tenant. Depending on location and size you could earn anywhere between two and four hundred dollars a week on rent from granny flats. As the flats are usually fully self-contained it is an easy way to add to your regular income. It is however, not for everyone. Some homeowners may not like the lost privacy.
2. Home office space. For those that may not like the idea of renting to tenants a home office is another way that granny flats can add value. Professionals such as hairdressers, massager therapists, chiropractors or counsellors could use the space as an office. This is a great option as the practitioner is not required to find a room to run their practice from and it not required to pay weekly rent. The flat is also separate from the main house so there remains an element of work and home separation.
3. Can increase seeling price. The addition of a granny flat can often mean that it is acceptable to ask a little more when selling than just a single dwelling. When people are looking to buy houses they can see the potential investment and the potential income (see previous two points) and are more than happy to fork out a little bit of extra cash. A granny flat becomes an asset, like a swimming pool or large garage, so it is hard to over capitalise for homeowners. In most cases when selling, you will earn money on the investment made by installing a granny flat. For more information about this article, you can ask the experts in this weblink regarding this topic.
4. Cheap to install. A high range granny flat can cost around $60,000 which when you think about renovations to homes, doesn’t go that far. So putting a granny flat in can be a great way to maximise the value of your home without spending too much cash. For about the same price a new kitchen you can earn money back on the investment. For example a $60,000 granny flat generally can be rented at a price of $240 per week. This means that in less than one year you will be making profit on the granny flat (it will have essentially paid for itself). And, that is something a kitchen renovation can’t do and something that people looking to buy houses understand and are willing to pay a little extra for.