July 2014 – The Art of Rightsizing Your Home
Date Posted: Jul, 2014
By Rich Harvey, Managing Director propertybuyer
Welcome to your June propertybuyer market update.
In this edition we look at:
- The Art of Rightsizing Your Home
- Seminar – Rightsizing – Is now the time for a change – Wed 13 August
- Homebuyer Show – Free ticket offer
1. The Art of Rightsizing Your Home?
Choosing your next home is an exciting prospect. There’s the hope of finding a larger outdoor space to entertain friends or a kitchen with an island bench to practice your Masterchef skills. Perhaps you are looking for a view of the ocean, a smaller yard with less lawn to mow or a larger garage to tinker with your tools.
Everyone has different needs and wants depending on your age and life stage. But the reality of searching for the ideal home can be a daunting exercise. How can you make the process easier?
1. Future proof your home selection
One of the best ways to make the right move is to take some time out to plan your housing needs for the next 10 years. This may seem like a long time horizon……but remember time flies and kids grow up fast too! Spend a couple of hours on a weekend in a relaxed state and write down the things you really want and need in your next home. You can write your own house rules about what you desire in your next place just like on the “House Rules” TV show where the owners prescribed the type of renovation they desired. Brainstorm a list first and go to town. Then separate your list into essential and desirable (after all you’ll have to consider your budget early on in the process).
Here are some things to think about:
- Kitchen size – open plan, appliance storage, pantry size and natural light
- Bathrooms – separate toilet, three-way bathroom, double sink
- Bedrooms – how many needed, wardrobe space, natural ventilation, guests/ relatives staying over
- Living rooms – separate zones for TV, Music, relaxing, games etc
- Laundry – storage for linen, space to hang shirts
- Garage – roof height, storage capacity, width for opening car doors
- Entry – space to enter out of the rain, take off shoes, meet and greet guests
- Outdoor areas – covered pergola, BBQ area, dry washing,
- Other desirables – pool, spa, sauna, home gym, space for hobbies etc
Once you’ve got your list, go searching in the local market. See what properties are available that might fit your needs. Often it’s a shock to buyers to see how much the market has risen if you have been out of the market for a long time. This is where the magic word “compromise” comes in. You may find that those essential items migrate to the desirable side of the page to fit your price range.
2. Life stage and suburb selection
The way to future proof your property selection is to imagine what life will be like in 5 to 10 years time. Think about family size and dynamics. Is your family growing or shrinking? How you would like to entertain and enjoy life at home?
It can be very expensive if you pick the wrong suburb or wrong house. The cost of stamp duty alone on a $1.0m property is $40,490. Then add the cost of legal fees, inspections, moving and the whole hassle factor! It pays to spend time getting your decision right upfront.
Here are some things to think about for suburb selection:
- Commute to work
- Schools/ education
- Social network – family and friends
- Access to cafes, restaurants, recreational & lifestyle amenities
- Community feel
- Access to shops and transport
- Capital growth potential.
What downsizers look for:
If you are an empty nester where the kids have left home or at a stage where maintenance is becoming an issue, then a smaller townhouse or large apartment might be the ideal solution. Downsizers are typically looking for convenience and more effective use of space. They usually like 3 bedrooms, allowing space for guests or kids to come and stay. They like a large outdoor terrace for entertaining and relaxing, open plan living, easy maintenance and enough storage for mementos. Another very important feature is proximity to cafes, restaurants, social activities, parks, beach, harbour and medical facilities
What’s your next step?
Write that wishlist with your partner or a friend. Seek professional help. Research the market and visit some open inspections. Get your finances in place and start decluttering today. It’s never too early to plan your next move.
If you are considering upgrading, rightsizing or simply downsizing this year we would be delighted to assist you make the right move. We’ll help refine your wishlist, provide an objective opinion and recommend the best suburbs and properties that will suit your budget.
Call my friendly team of buyers agents on 1300 655 615 or + 61 2 9975 3311 today to discuss your requirements, or email your inquiry. We would be delighted to help.
Rich Harvey is founder and Managing Director of www.propertybuyer.com.au, Australia’s most awarded Buyers’ Advocates. Propertybuyer helps property investors and home buyers search and negotiate the right property at the right price, everytime. Visit www.propertybuyer.com.au or call 1300 655 615.
2. Seminar: Rightsizing – is now the time for a change? Wednesday 13 August, 2014
You are warmly invited to our next seminar on Wednesday 13th August to discover options to help you plan your next move.
We’ve all heard of “Downsizing” but what if you just want to find another property that is right for your next stage of life? We call this “Rightsizing”.
Perhaps you are heading toward the empty nester stage or want to find a home where you can still have the family gatherings, but it’s not too large and not too small.
While the property market is strong, now is an ideal time to take advantage of a more active market to trade your property for something that better suits your life stage.
- Do you think you could stay in your home, but know you’d be better off if you didn’t?
- Do you have children in their HSC years or leaving home?
- Are you sick and tired of maintaining the family home or home doesn’t suit needs anymore?
- Are you looking for the way to do it?
- Have you stayed in a medium to large family home and has been there for a while?
You don’t need to be overwhelmed with everything that needs to be done. We can show you a hassle free way to rightsize your next home with ease.
Date: Wednesday 13th August 2014
Time: 7.00pm till 8.30pm, followed by refreshments and Q & A
Venue: Luana Room, Dee Why RSL, 932 Pittwater Rd. Dee Why NSW 2099
Cost: Free event!
RSVP: Telephone: Alicia Friskin 02 9975 3311 (at propertybuyer)
Click here at this link: Rightsizing – is now the time for a change
This FREE informative and enlightening seminar will feature three of the best speakers in their field:
Rich Harvey, Managing Director, Propertybuyer
- Options for downsizers (what are my options?)
- How to choose your ideal location
- Seven tips to success in the buying process
- Northern Beaches property market update
Jenny Simmonds, Financial Planner, ClearView
- The big picture – on the financial aspects of downsizing
- Downsizing strategy considerations, eg Optimising Centrelink, Federal Budget announcements, Timing issues, Investment options
- Downsizing alternatives – Reverse Mortgages, Granny flats, multi-generational living
- My Top 5 financial planning tips to achieving as stress free downsize as possible
Belinda Grundy, Founder & Author, Rightsize Your Home
- What is an empty nester?
- Is now the right time?
- Case Studies
- Bucket List / How to look for something more suitable
We look forward to seeing you at the seminar. Seats are strictly limited and we recommend you secure your spot today.
3. Home Buyer & Property Investor Show – Sydney
We are pleased to announce that propertybuyer will be exhibiting and speaking at the upcoming Home Buyer & Property Investor Show at its new location – Sydney Showground, Sydney Olympic Park on Friday 18th – Sunday 20th July.
Cost of entry into the Expo itself is $20 for adults, however we are delighted to have a limited offer of 150 F*REE TICKETS to this fantastic event, showcasing the latest products and service offerings for all property investors and home buyers.
Be quick, only 150 F*REE TICKETS available! Simply click here, head to the ticketing section of the website, follow the prompts and insert the promo code ‘PROPERTYBUYER’ to download your special ticket offer.
Please come and visit us at STAND 822 to meet the propertybuyer team!
When: Friday 18th, Saturday 19th & Sunday 20th July
Times: 10am – 4pm
Where: Sydney Showground, Sydney Olympic Park
I will also be presenting a free seminar each day at 12pm on the ‘Property Investor Stage‘ on:
“Property strategies that work in today’s market”.
Investors and home buyers often jump in too quickly without formulating a strategy. You need to understand which strategies actually work in a changing property market. Get clarity on which strategy gets you closer to your goals and the relative risks and rewards from each strategy.
Where: Property Investor Stage at the Show
When: Friday 18th, Saturday 19th & Sunday 20th July
We’re looking forward to seeing you there and be sure to say hello to us at STAND 822!
If you are interested in any of the above please contact Jason Low (Manager- Client Relations & Strategy) 1300 655 615 or 02 9975 3311 or email your enquiry to firstname.lastname@example.org
To review the full details of these opportunities you will need to sign a simple confidentiality agreement which protects our interests in the property. If you purchase a property, a fixed sourcing fee will apply.
We look forward to assisting you.