The importance of having a ‘Property Strategy’

Man using tablet pc on couch at homeAll too often we see people so excited about buying or building their first home, they forget about the big picture. Even if you only plan on owning the home you are living in (and are not considering owning an investment property) a Property Strategy is an important tool that you should develop.

A Property Strategy helps you to build an approach that outlines your current and future plans. It can include information on how long you envisage living in your current home and how you will create capacity in your property for an expanding family. Your strategy may also consider factors of your retirement or future travel plans.

If you are looking at building an investment portfolio a Property Strategy will assist you in planning what type of properties to purchase, provide best value for money, and minimise costs. It will also assist you in ascertaining when to rationalise and release capital which may then be reinvested in the portfolio.

Your Property Strategy should outline your goals for:

Buying property – identifying what properties meet your current and future needs so that the right purchase decisions are made at the right time

Investing in property – capturing the benefits of investment property

Releasing property – making informed choices about when and why to dispose of property

It should also include information about the makeup of your family and your lifestyle (now and your plans for the future). And it’s important to remember for something to be classified as a property it must have value, but this may not only be a dollar value. The property may be valuable for sentimental reasons or for the lifestyle it enables the family to have. All of these factors should be considered as part of your strategy.

So think about how your home and/or investment properties meet your current and future needs. Your strategy should include where you want to be, and how you want your property portfolio to look in the next one, three and five years. You can also have some longer term goals, but ideally your strategy should be reviewed and updated at least every five years.

In any situation a strategy will assist you with sourcing the right property at the right time, for the right price.

So whether you’re looking to have one property or ten, a Property Strategy will ensure you are forward looking, and continually assessing how property can meet your existing and future needs for building your wealth through property.

Look out for our next three blogs, which will give you some ideas on what to consider if your strategy includes any of these three goals:

Goal 1: Buying or building to live in the home for five years or more

Goal 2: Buying or building to sell in the next two to five years

Goal 3: Buying or building to keep as an investment and purchase another property in two to five years

Should I renovate before I sell?

Renovations imageShould I renovate before I sell?  It’s a question a lot of people ask themselves when deciding to put their home on the property market.

Ultimately as a vendor your strategy is to get the best price, so the last thing you want is your renovation costing more than you get in return. So how do you determine how much, if any, renovating you should do? Continue reading

Real Estate – what if it’s not all about the money?

elderly couple and advisor imageWhen people talk real estate, the first thing that comes to mind is the money – getting the highest price when selling, negotiating the lowest price when buying, and looking for the cheapest agency commission.

But it’s important to note that the money aspect is not the only measure of a successful real estate agency. At Aspiron Real Estate we consider these five things fundamental to our success: Continue reading

It’s the busiest season in real estate, but what’s so special about Spring?

springAre you looking at selling your property in Spring? What is it about the weather warming up that has more people putting the ‘For Sale’ sign on their home and looking for something new?

Traditionally Spring is known as the busiest time of the year for real estate agents, and locally it’s no different. In a football mad city like Geelong, as soon as the footy boots are put away and finals are over, we see buyer activity lift, auction numbers rise, and a high number of properties hit the market. We’ve found in both the Geelong and Torquay markets that sales volumes are usually at their peak during October and November. Continue reading

Choosing the right artwork can help with your Spring real estate sale

Artworks-and-Paintings-House-Livingroom-2With Spring fast approaching many people in the Geelong and Torquay real estate markets will be considering listing their home for sale. If you are thinking about this, you should give some thought to how you can add a bit of a “wow!” factor to your home simply and without major expense. A few well chosen pieces of art may just do the trick.

In this article, Mandy Molloy-Lee talks about the do and don’ts of choosing art when selling your home. Continue reading

Geelong real estate seminar covered property development

This morning’s Property Success seminar held at John Doe Cafe in Geelong was another outstanding success with a record number of attendees despite the very fresh Geelong winter morning!

This month’s special guest was property developer Tony Anile. Tony’s experience in property development extends over 30 years. In that time Tony has successful completed developments of all shapes and sizes. Continue reading

Do you really need to spend money on newspaper advertising?

Newspaper advertising was still relevant perhaps five, ten years ago, back in the olden days and was essential because we didn’t have the Internet.  Generally, if people wanted a general knowledge of what was on the market, they’d pick up the local paper on a Saturday morning and they’d have a look through all of the properties advertised there.  For a lot of people it was a lot of time spent on cutting out newspaper clipping and collecting properties they had interested in.  Making lists of open homes to have a look at and trying to fit it all in because generally there were maybe one to three photos of the property in the newspaper and that was if it was a featured property.  A lot of the properties only had a picture of the outside of the house which meant to get a good idea on what the house is worth and what the market was doing you really had to spend the time out and about looking at houses.   Now, the Internet pretty much wipes that out as a requirement, because people can log on, they can do it in their own time, when it suits them—they can do it on the train or they can do it in their lunch hour, they can do it at home, they can do it anytime and they can get an instant understanding of all properties on the market, not just a few agents who advertise in the newspaper, but all properties on the market.   They can compare how any property they might be interested in sits in a market. So the Internet’s convenient, it’s cheap to use, to advertise in, and it’s far, far more effective than newspaper advertising.  Lets face it, the internet is where everyone is and that means its where your buyer is.

Build a new home or buy an established home?

A lot of people understand how to buy a house.  You go and look at houses, and you look for something you like, and you buy it, but what about if you decide you’d like to build a new home? When you’re building a house, how do you know what you’re getting, what’s the process? Why would you build over buying an already established house?

A lot of investors do think that established property is the only way to go, but there is the opportunity through new homes and house and land packages, and there are some definite advantages of buying a new home or a house and land package over buying established.

The obvious one is stamp duty. On a typical house and land package of around $350,000 or $300,000, you might be saving around about $7,000–$8,000 in stamp duty.  When you are building a new house you are only paying stamp duty on the land. The house hasn’t been built when you purchase it, so you’re actually not paying any stamp duty for it.

There’s a good saving there.

First home buyers, for example, will get the first home buyer grant, but as an investor, you also have the opportunity to get fantastic depreciation schedules on new homes, and if you talk to your accountant about that, I’m sure they’ll be able to tell you about how that can offset the savings against your tax, so there’s that advantage as well.

Often we find with house and land packages, that we can build those or put those together for around about 10 to 15 percent less than what it might cost to buy a comparable established property in that area, so you’re taking on a buying property that immediately has 10 to 15 percent equity in it. So that’s another advantage of it. Of course, having a brand new home can also be an advantage over established, because you’re going to have less maintenance costs, so it’s going to cost you less to hold that property.  So there are definitely a number of great advantages to buying house and land packages when you’re looking at investment.

Here at Aspiron we have a number of house and land packages available and, our motto is connecting people with properties, so our goal is to help as many people as possible achieve their dreams through property, whether it be established homes or house and land packages, we have access to those and can put together the best outcome for an investor looking to get into the property market.

Give us a call, pop onto our Facebook page or our website, all of details are there. Give us a call and we’re happy to get together, no obligation, chat over a coffee or a cup of tea.

Learn How to Subdivide and Develop Property at July’s Breakfast Seminar

Learn how to make money by Subdividing and Developing Property
with our very special guest. Tony Anile has been doing it for over 30 Years

In this month’s seminar we will be discussing HOW to Subdivide and Develop property.

If you’ve ever thought about subdividing or developing real estate, you really won’t want to miss our next Property breakfast seminar, to be held on Tuesday the 9th of July at John Doe Cafe in Geelong. We are very excited to announce that we have a special guest speaker.

Tony Anile, has over 30 years experience subdividing and developing property throughout Victoria, Tony will be there to answer all your questions and to impart his knowledge about developing property as well as discuss the various aspects that you need to know including the pitfalls to look out for and the planning requirements you need to know in regard to successfully subdividing and developing property.

To Book a ticket to our next Property breakfast seminar, click on the How to Subdivide and Develop property here, check out our Facebook page or our You-Tube Channel.