| Hands up for the show house |
Although many people like the flexibility of buying
a home off-plan, it is also well worth looking at show homes and
"spec" homes that have already been completed.
You may find, for example, that a show home is
the last unsold property in a development and that the developer
is prepared to sell it at a good price just to finalise the project.
In any case, you will be able to see exactly what
you are getting for your money and that is likely to be more than
others in the same development. Minor construction flaws will probably
already have been remedied, the garden will most likely have been
landscaped and planted, and the cupboards, carpets, lights and other
fittings are likely to be at the top end of the range that was offered
to off-plan buyers.
And finally, much of the development may already
be built by the time you occupy a show house, which will cut down
the time you have to live with the dust, noise and general inconvenience
of construction going on around you.
Meanwhile, you should also look out for homes that
builders who have bought stands from developers have constructed
"on spec". The drop in demand that follows the latest
interest rate rise may well persuade such builders to drop their
prices or at least to offer purchase incentives such as free landscaping
or kitchen appliances.
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| Estimate the vacancy rate before you
invest |
There are very few rental properties that will be occupied 100%
of the time, but the vacancy rate can vary considerably - and make
all the difference between a good investment and a bad one.
So before you buy an investment property, you should look at the
factors that could affect the vacancy rate in future, the first
being the overall availability of rental property in the area.
If there has been overbuilding, the vacancy rate in individual
units will rise and it will be difficult for landlords to raise
rentals. But if the local population is expanding faster than the
number of units required to provide housing, the vacancy rate per
unit will fall and higher rents will become possible.
Secondly, you should consider the position of the rental property
within a particular area. Drive-by traffic generates many rental
leads while the hard-to-find property is likely to stay vacant for
longer. Potential tenants usually also prefer properties that are
close to schools, shopping centres, public transport and arterial
roads.
Property condition can also have a significant impact on the vacancy
rate. Tenants don't only move because of life changes such as a
new job or a new baby. Rental homes need to be well-maintained or
any rental increase will swiftly prompt a move to a newer or better-managed
property - leaving you with a vacant unit that will in all likelihood
have to be cleaned, painted and repaired anyway to attract a new
tenant.
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| Get your garage ready for a
Rolls |
Changing lifestyles that make it necessary for
more families to have two cars - and the high cost of vehicles -
has substantially raised the value of a garage from the homebuyer's
point of view.
Indeed, a double lock-up garage is now a key sales
feature for homes in many new complexes and estates, and a must-have
rather than a nice-to-have feature for buyers of pre-owned homes.
Consequently, home sellers need to pay more attention
to that often-neglected structure at the bottom of the garden.
Garages must first and foremost be really secure
and should also, of course, be clean and free of any rubbish or
old furniture and appliances. Homeowners should also ensure that
the doors open smoothly, remove any oil stains from the floor and
give the walls a fresh coast of paint.
Who knows, if the garage also happens to have windows,
lighting, a power point and room for a workbench, it could even
become the factor that clinches the deal…
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| Home safety an issue for active seniors |
An increasing number of retirees are opting to
stay on in their own homes or live with family instead of moving
to units specifically designed for senior citizens - but even the
most active and healthy of them need to take precautions to avoid
household accidents and minimize the risk of injury.
They should also prepare for at least some loss
of mobility and dexterity as they get older, and go through their
home room-by-room to identify and address potential problems.
Bathrooms need special attention, with the minimum
suggested safety precautions being non-skid rubber strips fixed
to the base of the bath and a sturdy handrail in the shower.
In the kitchen, all taps, electrical sockets and
appliance controls should be within easy reach; flammables should
not be kept near the stove and countertops and cupboards should
be at a convenient height for the seniors in the household.
Other safety aspects to consider include:
- Clear and unobstructed passages and walkways;
- Furniture of a comfortable height to allow even old folk to
rise easily;
- Windows that are easy to open and close securely;
- Electrical appliance leads that are safely out of the way;
- Easy access to a telephone in both the living area and bedroom;
and
- Non-slip backing on loose rugs and mats.
In short, it often takes just a little forethought
to prevent a nasty accident, and usually, the extra safety precautions
benefit everyone in the family, not just the seniors.
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