Category: Property Investment Management (4)

Renter’s guide 2019

If you are renting, you probably know that is a battle that never stops. You are always in search of a nicer place to live under better conditions. And the most common question is ‘how much do you pay?’. You have overheard that question probably a million times at dinner parties, on dates, and at work. Our monthly rent is something that always occupies us. Beside the endless search for lower rent, renters also have to deal with the fear of eviction and price increaseBut although rents seem to rise higher and higher each year, there is always a way to find a good deal. For this purpose, we have made renter’s guide 2019, so follow these steps on your way to a better renting experience. 

Searching for a place  

Searching for a place to rent can be quite a challenge, especially if you are doing it for the first time. Since that is time-consuming and exhausting process, you need to make a plan and make sure you are managing your time wisely. Also, a good idea is to ask someone with experience for advice. Longtime renters know approximately what to look for and where to look for it, as well as the price range.  

Determine your budget 

First things first – figure out what the amount you would be able to spend on renting costs on a monthly basis is. When calculating this, have in mind that you should always leave some money for unforeseen circumstances, because they do happen. A lot. Additionally, you will probably have to put down a security deposit and an application fee. So, keep that in mind and plan ahead.  

Go through listings of properties for lease and compare prices
Go through listings of properties for lease and compare prices

Pick a neighbourhood 

Although you certainly have some preferences already, our advice is to pick a neighbourhood close to where you workBecause at rush-hour, it can take much more time to drive back homeAnd you can use this time in better ways, right? Your commute can affect your daily life and free time big timeAnd before you decide, go through listings of properties for lease, compare prices and make a selection of places or neighbourhoods you can afford.  

Play it smart 

Some researches show that renters are likely to find better deals during the fall and winter months when fewer people are moving. One of the tips from our renter’s guide is to, if you have that possibility, wait for the fall.  

Manage your expectations 

Depending on the area you are looking for, apartment hunting can be pretty intense because of stiff competition. If you are looking for a neighbourhood with apartments or houses in short supply, bidding can become a war. Sometimes, renters even choose to pay more than the listed price, in order to get the place they want. But, unless you want specifically that one place in that neighbourhood, there is really no reason for you to pay more. There are plenty of neighbourhoods with affordable prices, so maybe it would be better to skip.   

The best way to explore the places for rent is on foot
The best way to explore the places for rent is on foot

Find a house or apartment that suits you 

Exploring neighbourhoods on foot is definitely the best way to do that, if you have a chanceLandlords often like to rent to locals, so you can stumble upon a property that is not listed onlineThe second-best resource is certainly the internet and you will get the best results by using both. Look for reliable listing sites for rentals, and start making a list of properties that interest you. If you want to be on the safe side, you can always hire a professional real estate agency to help you out.  

See it with your own eyes, if you have a chance 

Once you find the property you like, contact the landlord or your realtor and ask to set up a time to view it. Seeing the place for yourself is key to ensuring you will not get scammed or deceived by an online listing. In case you are searching for a property from elsewhere and you don’t have a chance to visit, ask a friend or real estate agent to do that for you.  

Don’t wait too long to apply 

Don’t wait too long to apply – better submit an application form as soon as possibleEspecially if the market is tight in the chosen area, landing your dream apartment can come down to being the first one to apply. When you start filling the application, have key pieces of information handy. 

After you sign the lease 

Most likely, a landlord will require a deposit at the lease-signing. The deposit can range from some small amount to two months’ rentdepending on the landlord or the deal they have with the real estate agency. Have in mind that every deposit should be refundable. However, some landlords will try to find reasons not to refund part or all of the deposit, and that is why it is very important to know your rightsIf you are not sure about that, check out the Tenancy Union website to get more information. They usually justify it with cleaning or wear-and-tear, but if you clean the place yourself and there is no damage, you shouldn’t accept it.  

A few personal details are enough to make the new place feel like home
A few personal details are enough to make the new place feel like home

Renter’s guide 2019  

Once all this is behind you, it’s time to relax and adjust. Keep in mind that a few personal details will make the new place feel like homeDisplay few photos, put your books on shelves and cover your bed with your favourite sheets. Take a walk through the neighbourhood and introduce yourself to your new neighbours. In the blink of an eye, you will have your favourite coffee shop and restaurant. People will start saying hi, and you will know you are finally home. We hope our renter’s guide has helped you and that you will enjoy the new chapter of your life! 

No matter how hard you try to prepare yourself for the upcoming changes, leaving your old home and moving to a new one will still be an overwhelming experience. Whatever your reason might be for relocating to a new place, remember there’s nothing wrong with feeling sad or anxious. The change is inevitable and you can’t control it. But, what you can do is take charge of that change and create something beautiful out of it. Instead of feeling down, do your best and adapt to your new life after moving. Be ready for the endless possibilities that you’re about to encounter. Here’s how!

Get your bearings 

People in your surroundings will probably tell you to start exploring the new neighbourhood as soon as you relocate. But, even though adjusting to new home is important, do it at your own pace. Don’t rush things just because someone told you to explore your new city right after you move. Instead, take a few days to set up your new living space properly so that it really does feel like your home. 

Relax and take a break from your relocation before you start organizing your new home.
Relax and take a break from your relocation before you start organising your new home.

Ideally, start unpacking as soon as you move to one of the Vogue Real Estate homes. Even before you set up your kitchen or your living room, unpack the pieces of furniture and wall hangings that will make you feel more settled and comfortable. After this, unpack the rest of your moving boxes. Getting the help of a friend and listening to music while unpacking will make you feel good in your new home and will also make this boring task fun! 

Don’t forget about security! Make sure your house has a working alarm system. In case it doesn’t work, or if it isn’t installed, buy one immediately. A home can be the place where you feel safe and secure only if there’s a working alarm system installed. 

Make your new place feel like home 

In order to adapt to your new life after the relocation, you’ll have to make some changes to your house. Whether you own your new place or not, it’s important to make it more personal. If you don’t believe us, check out property styling tips from Home & Design experts and learn from the best.  

Don’t get us wrong – we’re not telling you to spend even more on your house immediately after you’ve moved. Instead of buying different expensive items, you can make your new place feel like home with cheap and simple tricks. Remember, even the slightest change in your home can make a big difference! Here’s what you can do for adding a personal touch to your home: 

  • Freshen up walls – whether you’ve moved to a new or old home, repaint those walls! Choose the colour that makes you feel relaxed. Opt for lighter coloured walls in order to make your room feel airy and bigger. 
  • Add a pinch of colour – a room that’s all white feels cold and impersonal. By adding a pinch of colour you’ll be able to create a cozier vibe. Therefore, paint one wall bold colour. Hang your art pieces. Add pillows, blankets, and rugs to break the monotony in your home. 
  • Go green – there’s no such thing as having too many plants in your home! Indoor plants act both as a decorating tool and tool for making the environment better.  
  • Create a cozy space – at the end of the day, you’ll want to have a place where you can relax and leave the worries behind. Create this kind of place for yourself. 
After the move, you’ll finally get the chance to make your home look like your dream house!
After the move, you’ll finally get the chance to make your home look like your dream house!

If you have found out that there isn’t enough room for all of your belongings, fret not! There are many different storing options at your disposal that can solve your problem. All you have to do is find the one that suits your needs most.

Step out of the comfort zone and adapt to your new life

When you feel ready, step outside and start exploring your new neighbourhood! Even if you have moved just a few blocks away, you’ll have to learn where to find the cheapest grocery store or the best restaurant. This might be very challenging for all of you who have moved to different cities, or countries. But don’t let it frighten you. Instead, embrace the excitement that comes with different surroundings and begin your new adventure. Don’t forget to start saving money for life after the relocation as soon as you learn the final cost of your relocation project 

Say yes to opportunities 

Relocation comes with new opportunities and challenges. One of the best ways to adapt to your new life is to prepare yourself for them! Whether it’s a job opportunity or the chance of meeting interesting people and learning about different cultures, say yes!  

Meet new friends, but keep in touch with old ones 

Everyone knows that if you want to adapt to your new life after the relocation, you’ll need to meet new people. They can help you adjust to the new environment without having to deal with different problems along the way. Meet as many neighbours as you can. Even if you don’t like some of them, be polite and you won’t have to deal with neighbourhood disputes in the near future. And one more thing – make new friends, but don’t forget about your old ones! Keep in touch with them because those are the people who will be by your side at any cost.  

Whether you’re moving to a different neighborhood or city, do whatever it takes to stay in your best friends’ lives!
Whether you’re moving to a different neighborhood or city, do whatever it takes to stay in your best friends’ lives!

In the end, it’s very important to have positive thoughts about your relocation. Make the fear and stress go away! With the right mindset and your loved ones, you will manage to adapt to your new life with no difficulties whatsoever! 

Have you ever thought to invest in property as a non-resident? In recent years, the Australian residential property market has been a very popular destination for foreign investors, particularly American buyers. This hardly a surprise if you consider the economy. Australia’s economic stability in combination with a good property market free of speculation has made the land down under a safe choice for investors.

Interestingly, many Australian residents who hold temporary or permanent visas don’t even realize they can qualify for a home loan. Hence, they are missing out on the benefits of the Australian real estate market.

Australia calling

Moving long distance is always a big challenge, and moving to another country is a whole new level of different. It’s scary because it is out of our comfort zone, but that is where magic happens. Furthermore, many US residents are planning to relocate to Australia and to invest in property as non-residents. They are attracted by its amazing economy, great job opportunities and nice weather. And all of that comes without a language barrier, which is a win-win situation. If you are having these thoughts, you first need to find international moving experts in your area in order to have a stress-free moving experience.

Before you hit the road, make sure to do a big research on the local real estate market and find temporary accommodation in order to stay there before you buy your own property. There are plenty of regulations when you are moving to another country, so better hire high-quality moving experts and leave the bureaucracy to them.

Australia is very popular for its economic stability

Stability is key

There are many reasons why more and more people invest in property as non-residents. The main reason is the stability of the market, which Australia has, among other factors.

  • Amazingly, around 70% of Australian households are homeowners, so there is not much space for speculation.
  • There has been a consistent undersupply of housing in all larger cities.
  • This country has responsible lending legislation and prudent economic management via the Australian Prudential Regulation Authority (APRA), reducing the risk of asset price bubbles.
  • Most importantly, Australia has never seen prices fall more than 20% in one year.
  • Overseas property markets such as Hong Kong or the United States have suffered significant crashes, but Australia has never experienced one.

How can I invest in property as a non-resident?

Most noteworthy, foreign investors are not allowed to buy existing homes, but they can buy new properties without a problem. This includes both off-the-plan apartments and vacant land. For example, if you’re a non-resident foreigner and you want to buy residential property in Australia, you will first need to obtain approval from FIRB. You can easily apply for that approval online. Although there is no limit to the number of new properties you can purchase, you will probably need to apply for approval before each purchase.

According to FIRB, a new property must be built on residential land. Additionally, it must not have been previously sold as a residence and must meet some other requirements.

  • It must not have been previously occupied.
  • If the property was part of a development and sold by the developer, it should not have been previously occupied for more than 12 months.
  • In case you want to buy vacant land for development, the development must be completed within four years of approval.
Do a good research on a property, especially if you are planning to live there yourself

The FIRB application

Before you apply for approval, it’s always a great idea to get some legal advice to make sure you understand and agree with all the necessary legal requirements. Then, you just follow the steps to apply for foreign investment approval.

  • Visit the FIRB website and apply.
  • Then, follow the link to the Australian Taxation Office’s foreign investment application form.
  • The third step is to fill out the application form with your personal details and any previous FIRB application reference numbers.
  • Provide the exact address and details of the property you wish to buy.
  • Carefully read and sign the declaration.
  • Then, submit the application and pay the required fees.
  • You will get an answer probably within 40 days.
  • Before applying for a home loan, you should obtain this approval from the FIRB.

Determine your budget

Before even thinking of buying a property abroad and moving, you need to know your budget. Hence, work out how much you can afford and stick to your financial plan. And remember, when you require a mortgage, you will generally need a deposit of at least 10% of the property’s value. Check your credit score and make sure you are prepared for that.

Research the area

Before you pack your things, make sure to research the areas you are interested in. Check properties and their prices in order to ensure that they are affordable. You will also need to inform yourself properly about the fees and other repayments to invest in property as a non-resident.

Moving abroad makes you see your life from a different perspective

Choose the property that best suits your needs

This is especially important if you are going to live there yourself, but in any case, you want to know what you are investing in. Saying goodbye to Brooklyn and hello to some foreign country is a bold move and a whole new chapter of your life. But change is usually a good thing, because it makes you see the things from another perspective. And fresh perspective is sometimes exactly what you need.

For overseas buyers who are not planning to live on the property in question, it is more important to focus on the value and possible return profit.

Let the conveyancing process begin!

Engage a local real estate agent and make an offer. Once it has been accepted, you will need to consult an attorney who will begin the process of transferring the property into your name. And that is about it – you can pick up the keys and enjoy. To invest in property as a non-resident is never and easy job but, at the end of the day, it’s worth it!

Not all properties are good investments neither do every property investment management results in profitable ventures. So how do you make the right kind of investments that will increase the chances of greater profits? It comes down to these four personal attributes:

Successful property investment requires greater knowledge

In order to become a successful investor, you need to invest time in obtaining the right kind of information that will help you take smart decisions confidently. There are plenty of books, articles and investment news that can be collected online. You can read property investing books, blogs and websites, autobiographies and success and failure stories of top real estate firms. You should also stay updated with the latest changes in policies and economic conditions to make key decisions that will impact positively.

Remember, education and knowledge is the key to your success. It lays all the foundation for smarter and more informed decision making skills.

Successful property investment requires commitment to updating your goals

Do you want to invest in properties smartly? Then you should schedule the time to review your property goals every monthly or quarterly period and check in with your current investments. You need to find out whether you are being competitive in the market and can outmatch your competitors. You cannot afford to buy a property with a long-term goal before completely forgetting about the maintenance and required investments. If you want to make successful property investment management decisions then a proactive approach and regular property assessment are essential.

Successful property investment requires being strong during the difficult times

In order to become a successful investor, you need to be strong during tough times. The real estate market is very volatile. It has its frequent ups and downs. You can never panic every time a negative headline breaks the news.

You have to prepare yourself to unexpected situations such as unexpected repair bills put forward or sudden damages to the property that requires immediate attention and renovation. A smart investment manager should always try to draw from the strength of their reserves and persistently ride out the difficult periods without losing focus from the long-term goals.

Successful Property investments requires strong negotiation skills

Being a good negotiator is one of the most essential skills that make a property investor successful. Businessmen and entrepreneurs are good negotiators. However, that does not mean that they are always trying to bargain when purchasing a property. A good and successful investor knows that they make their profits by purchasing the right properties, not through the cheaper ones. However, while making the right property investment, they have learned the negotiation skills to influence and persuade people the right way.

Whether doing it yourself or with the help of a qualified buyer’s agent, proper negotiation can put you in a stronger position to develop a profitable property portfolio. However, if you feel that negotiation is not your strongest skills, do not be worried! It can be developed over time.

Conclusion

Over time, anyone can develop all the skills required to be a great property investor. There are no secrets or challenging skill sets revealed here. Everything comes down to:

  • • Solid education
  • • Practical goal-setting
  • • Commitment to sticking to that goal
  • • Keeping calm during the tough times
  • • Developing negotiation skills
  • If you can achieve these traits, you can make profits through the process of property investment management much smoother.