FAQs We Get At Northern Beaches Real Estate

FAQ Northern Beaches Real Estate

Tim and I get questions day in and out from Northern Beach residents looking to buy or sell their home and property. Here are just some FAQs we get.

Do I sell first or do I buy first?

In a perfect world you would be able to sell your property and buy another at the same time, but in reality that almost never happens. Most people will face the challenge of deciding to sell first or buy first and there are pros and cons to both options. If you sell first you may feel pressured to find something to buy that is not exactly right. You may find you are unable to find a new property in time which may mean renting while you continue your property search.  On the other hand however,  if you buy first you are likely to have the stress of having to sell your home within a certain time frame, with the uncertainty of what price you will get for it and whether it will be able to cover the cost of your new purchase. You also have to consider that if it does not sell in the right timeframe, what options you will have available. Can you afford to keep the property and rent it? What are the bridging loan costs to own both properties at the same time?

If you are facing this dilemma, I would suggest chatting to me about your specific situation as every scenario will have different things to consider. I would be most happy to assess your moving plans and assist you with advice to make this process much smoother.

Is it a good time to sell? What is the best time of year to sell my property?

This is probably the most common real estate question that I get asked, which is why I have devoted an entire blog post for this question. Please see my blog titled Is it a good time to sell.

Should I renovate or should I sell? If I renovate, where can I add value to my property?

Australian’s have always loved renovating. Many of us love the challenge of adding value to a property and putting our own stamp on a home, with the hope that one day it will result in a good profit. If renovating is on your agenda or you are questioning whether it will be worthwhile or if selling is a better option, here are a few things to consider:

  • Talk to your council. Structural renovations may require a DA approval, so make your council your first port of call.
  • Don’t over-capitalise! Before going and plunging large amounts of money into your property, you should always consider what the final value of the home (after the renovations are complete). Don’t judge this for yourself as many owners can make incorrect assumptions. Seeking advice from a real estate agent before going ahead is vital as it can help you know what your budget is before you run the risk of over-capitalising. In some cases renovating your property may not always be the best financial option.
  • Keep re-sale in mind. Even if you are planning to renovate for your own needs, it is likely that at some point you will sell. So don’t make renovation decisions that will reduce the value of your property (seek an agent’s advice on this).
  • For investment properties or for a low budget renovation, fresh paint and carpet will make a huge difference. You can smarten up kitchens with new bench tops and appliances, and in bathrooms, a new shower screen, vanity and re-enameled bathtub will do wonders.
  • Keep your décor simple. A neutral palette with soft coffee colours, beige, whites and off-whites will add a contemporary feel to your home. They’re great base colours and are always best when it comes to re-sale as they provide a modern blank canvas for buyers. Feel free to show your personality with a few bright feature walls – you can always paint over dramatic colours when it comes time to sell.
  • Pay attention to kitchens as they are known to add significant to value to your home. Go for stainless steel appliances over plastic. Stone bench tops and glass splash backs are very favourable. Maximise storage space and extend your cupboards to the ceiling. Pay attention to detail as this is the one room in the house that it will be noticed.
  • Set a budget and stick to it! I hear so often how people have unintentionally gone way over budget which minimises their profit. Always allow for incidental additional costs as they are sure to arise.
  • Do your research and always seek professional advice first!!!

What selling tips can you give me in order to prepare my home for sale?

Here are a few quick tips for selling your home:

1. Tidy up the garden – a $5,000 makeover can add $5,000 to $10,000 if it’s done right

2. Detail the home – get the windows sparkling, water blast the grime off the exterior

3. Touch up the paintwork – it’s inexpensive and effective

4. Styling – a good real estate agent and/or stylist will give you an objective opinion of what furniture and accessories work

5. De-cluttering – if your home appears clean and well-organised, it takes away a lot of people’s fears about problems lurking below the surface

6. Obtain a building and pest inspection report. This gives you the opportunity to fix any issues that may turn off buyers and affect the value of your property.

What method of sale do you recommend? Auction or Private Treaty?

Amongst the real estate industry, there are supporters for both Auction and Private Treaty methods of sale. Some believe the competitive atmosphere of an auction guarantees the best price. Others warn that auctions are too exposed and therefore a private treaty sale is the most effective way to get every last dollar out of a buyer’s pocket.

While both points of view both have there merits, I don’t believe there is one universal best way of selling. What will work best depends on a number of factors which are unique to both you and your property. For advice regarding which method of sale is best for your property please call me for a confidential chat.

What is the minimum land size for subdivision?

The minimum land size for subdivision does vary from council to council. Generally for a subdivision to be approved on the Northern Beaches, council requires a block of 1200square metres. In areas such as Manly and Freshwater, council authorities have now been accepting subdivisions of 900sqm blocks, with two properties of 450sqm each. It is always best to check with council at the time you are considering a subdivision as the exact location and details will determine which minimum land size applies to you.

Hope that helps! If you have any further questions contact Bernadette Cullen on 02 8962 2255

About Bernadette Cullen

Bernadette Cullen is the Campaign Specialist at Northern Beaches Property Specialists. With extensive experience in design, real estate marketing and client service, Bernadette brings to the team outstanding communication and excellent people skills. A seasoned property expert that loves her chosen profession and believes there is no better place than the Northern Beaches to live, work and raise her young family.