Guidelines & Information
Golden Key Property Group is always keen to provide the latest property market information and useful tips and guidelines to our clients and potential customers. Please bookmark and check this section frequently to get the latest updates. You could also follow us on facebook to get our latest news and directions.
Buying tips / guidelines
Research, research and research – make sure you have done proper research to the area and particular street you are looking at. In today’s information overflow world, there is no excuse for not doing your own “homework” in advance, for instance the Allhomes website has plenty information for your understanding in suburbs of ACT and surround areas.
Understand your needs – make sure you understand your needs, for example; proximity and availability to schools, clinics and hospitals, local shops and shopping centres, and public transports etc. Growing family may value a larger house and yards for their kids; professional couple may value time and personal space, thus executive townhouse or apartments.
Building and Pest Reports – remember it is the buyer’s rights to obtain and read the building and pest reports before any commitment made. Be sure that you have read and understand the reports thoroughly, seek advices from professionals if you are in doubt.
First home buyer / Home buyer assistance – various states are providing various concessions / grant supports to the residents, home buyers are advised to check and grab these concessions and supports as per their rights. Please use these links to check the latest home buyer assistance in ACT and NSW.
Budget and Definite price limit – always stick with your budget if you can. You can always stretch your budget BUT never on your definite price limit. Talk to your bank, mortgage broker and financial planner, make sure that you only commit to what you can afford, especially in the case of auction.
Type of titles – always check the title of the property that you are buying and any restrictions on it. Be sure you understand the type of title and its underlying restrictions and potential ongoing costs. For instance; the most common strata titles are apartments and townhouses, make sure you understand the obligations to the ongoing body corporate and maintenance fees. Check the body corporate policy/constitution to understand any restrictions on pets, pay TV antenna, use of parkings and common facilities etc.
Solicitor / Conveyancer – organise your own solicitor/conveyancer to act on your behalf if you are decided to commit a purchase, make sure you read the contract with your solicitor/conveyancer and understand all the clauses and fine prints within.
Selling tips / guidelines
Research, research and research – this is right and I am not repeating the buying tips above, but research also applies in selling. As a vendor/seller, it is always true that you need to understand the value of your property and determine a selling price. Location, condition and functions of the property determine the basic value of the property. Do your own research with similar properties currently sold and still on the market, you will have a better idea on how much your property worth. Also remember, Golden Key’s free property appraisal service!
Understand the market and seasonal trend – it is not hard to guess that the peak selling season in Canberra coincides with spring and summer owing to the miserable winter weather. However, the national and international economic environments affect the momentum of property market as well.
Don’t be an urgent seller – Remember that urgent vendors always slash their price and don’t get the selling price they wanted to, i.e. forfeit money to buy time. Plan ahead and don’t rush to sell your property if you got other “liquid assets” and financing options.
Renovation vs Tidy up – Have you watched the TV program – Renovators? A presentable property always attract good buyers and offers. However, if you are considering a renovation before selling the property, you need to follow the market trend even closer and don’t waste any money on unnecessary renovation (i.e. unless the property is really tired and outdated). Most of the time, people will be surprised by how good the house that they live-in is after a proper declutter and tidy up or just simply a fresh paint.
Get documents ready – no agency can take on your listing and start marketing unless you have the necessary documents prepared, these include; contract of sale, building report, energy efficiency rating report and pest reports etc. As a seller, it is your responsibility to get all these things ready beforehand. Give us a call and arrange a free property appraisal to understand more.
Get your mind and physical ready – selling property could be demanding and energy consuming both mentally and physically. Especially, it would be very emotional if it is your family home. Get your family and your mind prepared is really important.