Right, well I am only 4 days away till I take off on a jet plane to see 4 expatriates (my close friends) who have made the break to London since leaving school. Riddled with excitement as I get into bed most nights this excitement gets overtaken by the fear of the dreaded word on any boarding pass “SSSS”. Now many of you will not know what I am referring to, however those who do, know my pain.
It all started when my family went to America two Christmases ago. My parent’s first overseas trip. It was not unlike European Vacation (Chevy Chase, if you’ve ever seen it).
Yes we may be nicknamed the Griswalds however intentionally harmful we are not. It all started as the four of us finally got to the check in counter at Tullamarine Airport – Christmas Eve – what’s not to be happy about. It’s Christmas Eve & we are waking up Christmas morning in Hawaii & spending New Years in Vegas (yes it was my brother and I that planned the trip). After many phone calls later by the check-in staff and 30 minutes of standing at the counter with impatient people tapping their feet behind us, the smiles soon disappeared. From here to the security checkpoint we were all pulled aside for every sort of security check imaginable. This SSSS that had magically popped up on our boarding passes we found out later stood for "Secondary Security Screening Selection". This followed us every where we went around America. This meant arriving at the airport an hour earlier to obtain the extra security checks. All this I was coping with until it reached the point where we were at Las Vegas airport ready to fly out to New York. Our entire family was pushed to one side & frisked in front of everyone about to board the plane! Yes you heard me right frisked. I bet everyone about to board the plane were praying not to be seated next to us.
So you can now understand my concern for travelling. I have been humiliated in front of an entire plane & singled out to be a threat to everyone’s well being and made feel like a terrorist however, despite all this I do respect that these checks should be in place especially after the horrible events of Sept 11. Security checks make everyone feel safe prior to boarding that plane and the same can be applied when looking to buy that house. So I am going to run you through the important checks that you should undertake before purchasing a home so you will be comfortable & feel safe with your decision.
Pest Inspection:
Most solicitors/conveyancers will advise you to get a Pest Inspection done before purchasing a home. I have never had a house which has had a Termite Inspection come back with active termites, touch wood, however I would still instruct any purchaser to take this check. Termites are one thing that aren’t covered under an Insurance Policy and you could easily find, that great purchase where you saved $50,000 – is now crumbling around you (extreme circumstances).
Chattels:
Make sure you check to see that everything is in working order before you actually put an offer forward on a home. If something isn’t working you can then either request for it to be fixed upon purchasing or at least you will know what costs you will be up for once you settle on the home. If there is anything that you are unsure about that you would like to be bought with the property, make sure this is negotiated and specified in the contract. Something that you may think is fixed – actually is not, and you could move in the day of settlement to find it gone.
Building Inspection:
A building inspection is something people generally apply to older homes however I have seen in more recent times it is something that people are requesting even on brand new homes. You must remember the purchase of your home will be one of the biggest transactions in your life – for the cost of the building inspection and your piece of mind it may be worth doing. If you are buying a home with the thought of renovating it is advisable to check with a builder first before buying the home as your great idea for a renovation may not be viable.
The other minor things that I would suggest you look into would be council planning around your area to see if there are any future developments and if this will or will not effect the value of what you are purchasing. It’s also handy to know if there are any easements on the property, if there are you need to know where they are located on the block. Also the other common check is for people to investigate the street they are buying into at different times of the day. Make sure it is an area you feel comfortable buying into.
You can ignore any of these checks at your own peril. It’s like the Security Checks at the airport, I only complain & think it’s unnecessary because it’s happening to me however as the old cliché goes you are “better to be safe then sorry”.
Monday, September 14, 2009
Friday, August 21, 2009
The dreaded winter Cold!
Well I know for a fact that I am not the only one that has been suffering from a cold over the last couple of weeks. I believe nearly every second person I have spoken to has fallen victim to the dreaded wintery blues. On the upside Spring is only around the corner where hopefully things will start warming up along with my Body temperature.
I regard a cold or the flu as long, painful & unnecessary. There is a process that you have to go through that makes it feel like it hangs around forever. First it’s the sore throat, then it’s the body aches, then a fever, then a runny nose, then a dry cough then a chesty cough. Lucky for me this time I got to skip to the dry cough however this didn’t come without pain believe me. I was taking manuka honey, vitamin C & green tea (all natural remedies) with Coldeze, Panadol, Cough Lollies, Vicks, 3 Dooners & sleeping with a scarf around my neck which for the record is as uncomfortable as it sounds. In the midst of feeling sorry for myself – my mother made me realise that all this could’ve been avoided if I hadn’t had so many late nights. You only have to read my last few blogs to realise I’ve been enjoying a bit of a social life of late.
A similar thing could be said for properties that have been on the market well past their expiry date – Long, Painful & unnecessary. Like my cold there is some precautions that can be taken so you can be certain your property isn’t sitting on the market for long.
First rule is Presentation:
It’s starting to become more common for people to request our opinion on furniture & presentation of a home. We simply find it’s the little things that make the most difference: ie unclutter your fridge door, minimise furniture to make the room look bigger or more open. Anything you don’t need stick it in the shed or storage. Check which lights best show off your home – make sure these are turned on before an inspection. Tidy up things that are visible to the eye, as much as the children’s finger paintings are great it’s probably best to stow them away through the first couple of weeks of the campaign & also tidy bookshelves. Fix any little problems that you can clearly see. ie: Hole in the wall.
Second rule is Pricing.
The stories that you hear where a vendor gets a price well above the odds is the exception not the rule (so keep this in mind). By putting an unrealistic figure on your home hoping to get the ultimate price can do one of two things – you may fluke someone walking through & paying close to the figure or you risk your property sitting on the market for 6 months where buyers will immediately discount it – as there is a buyers belief that if it hasn’t sold there has to be a reason. There are 3 things to do which help you determine an accurate pricing on your home without feeling like you are short changing yourself. It’s about working out what you think it’s worth, you can organise to have a registered valuation done & an Agent’s opinion – the pricing of your home is usually somewhere in the middle. I understand agents can be wrong at times so sourcing an independent valuer is always a great way to get another opinion. It must be kept in mind however that valuer’s don’t determine what the market’s doing. Also from an owners perspective it is important to be active in the market place, seeing what’s on the market, what similar properties are selling for and also making your property competitive compared to what else is already on the market. Listen to you agent & put a realistic price on your property as soon as it hit’s the market.
Third rule is access to your home.
There are some investors out there that try and sell their homes with tenants still in the property & you can’t get through when a buyer requests an inspection. I have had one situation where I had to write to tenants giving them 7 days notice because I couldn’t get on to them with the numbers they provided. By the time I turned up to do the inspection I still had not heard from them. They were home when I did the inspection however they had failed to return my calls or reply to my letter. Don’t be fussy about cleanliness, obviously keep your home tidy however if the agent says the buyer really needs to get through it today as they are going back to Melbourne tomorrow – just go with it.
Following these simple rules will prevent your property from sitting on the market too long. As for the common cold the main solution to making sure it doesn't hang around to long is to rest up, don’t overdo it, eat healthy & take your vitamins.
I regard a cold or the flu as long, painful & unnecessary. There is a process that you have to go through that makes it feel like it hangs around forever. First it’s the sore throat, then it’s the body aches, then a fever, then a runny nose, then a dry cough then a chesty cough. Lucky for me this time I got to skip to the dry cough however this didn’t come without pain believe me. I was taking manuka honey, vitamin C & green tea (all natural remedies) with Coldeze, Panadol, Cough Lollies, Vicks, 3 Dooners & sleeping with a scarf around my neck which for the record is as uncomfortable as it sounds. In the midst of feeling sorry for myself – my mother made me realise that all this could’ve been avoided if I hadn’t had so many late nights. You only have to read my last few blogs to realise I’ve been enjoying a bit of a social life of late.
A similar thing could be said for properties that have been on the market well past their expiry date – Long, Painful & unnecessary. Like my cold there is some precautions that can be taken so you can be certain your property isn’t sitting on the market for long.
First rule is Presentation:
It’s starting to become more common for people to request our opinion on furniture & presentation of a home. We simply find it’s the little things that make the most difference: ie unclutter your fridge door, minimise furniture to make the room look bigger or more open. Anything you don’t need stick it in the shed or storage. Check which lights best show off your home – make sure these are turned on before an inspection. Tidy up things that are visible to the eye, as much as the children’s finger paintings are great it’s probably best to stow them away through the first couple of weeks of the campaign & also tidy bookshelves. Fix any little problems that you can clearly see. ie: Hole in the wall.
Second rule is Pricing.
The stories that you hear where a vendor gets a price well above the odds is the exception not the rule (so keep this in mind). By putting an unrealistic figure on your home hoping to get the ultimate price can do one of two things – you may fluke someone walking through & paying close to the figure or you risk your property sitting on the market for 6 months where buyers will immediately discount it – as there is a buyers belief that if it hasn’t sold there has to be a reason. There are 3 things to do which help you determine an accurate pricing on your home without feeling like you are short changing yourself. It’s about working out what you think it’s worth, you can organise to have a registered valuation done & an Agent’s opinion – the pricing of your home is usually somewhere in the middle. I understand agents can be wrong at times so sourcing an independent valuer is always a great way to get another opinion. It must be kept in mind however that valuer’s don’t determine what the market’s doing. Also from an owners perspective it is important to be active in the market place, seeing what’s on the market, what similar properties are selling for and also making your property competitive compared to what else is already on the market. Listen to you agent & put a realistic price on your property as soon as it hit’s the market.
Third rule is access to your home.
There are some investors out there that try and sell their homes with tenants still in the property & you can’t get through when a buyer requests an inspection. I have had one situation where I had to write to tenants giving them 7 days notice because I couldn’t get on to them with the numbers they provided. By the time I turned up to do the inspection I still had not heard from them. They were home when I did the inspection however they had failed to return my calls or reply to my letter. Don’t be fussy about cleanliness, obviously keep your home tidy however if the agent says the buyer really needs to get through it today as they are going back to Melbourne tomorrow – just go with it.
Following these simple rules will prevent your property from sitting on the market too long. As for the common cold the main solution to making sure it doesn't hang around to long is to rest up, don’t overdo it, eat healthy & take your vitamins.
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