Simple ways to add value to your next purchase on a budget

Simple ways to add value to your next purchase on a budget

Transcript
“Hello and welcome back to daily buying tips, I’m Dean Berman from Berman Buys.

Today we’re going to talk about simple ways to add value to your next purchase on a budget.

A desirable property and not so desirable.

Can be changed with a few key upgrades.

Assuming the structure is sound.

The flooring can make a massive difference.

How about some floating floorboards over the current surface.

The wood look is really in and it’s hard to go wrong with this look from light wood, dark wood or that cool white wood faded look.

Paint is probably one of the cheapest ways to enhance a property.

Without spending a fortune.

Painting is truly a do-it-yourself project, provided you don’t need ladders etc…

Hiring a professional is another option, though more costly, usually justified as results are usually better.

Painting can relate to both the facade or outside of the house or inside.

Generally neutral colours are the easiest to work with.

It can always help to draw your room’s finished look before you start.

So you have basic template or floor plan on where everything will go.

A few key furniture pieces can make your place shine.

From a nice couch, some storage options and even artwork.

There are many stores both offline and online which have modern looks at somewhat reasonable prices.

Light can add tremendous value.

Increasing windows were possible or skylights can change a room and house.

Obviously much easier to do in a Torrens Title home vs Strata Titled unit.

Always consult a licensed professional who knows what there doing when dealing with the structure, roofing or walls etc…

Don’t just start doing stuff yourself, if you don’t know what your doing.

A carport is a good way to add value when no car parking is available, though a lock up garage is more valuable in my opinion.

Decking or a concreted outside entertaining area would usually add value.

A pool is a good value add.

The kitchen and bathrooms are two places where big value can be added.

From tile paint to retiling the options are endless in the bathroom.

Even the bath can be a choice from the in-built bath tub to freestanding bathtub which is becoming more popular.

In the kitchen the countertop, handles and cupboards will change the feel.

Affordable ways to change the cabinets are through re-painting or re-purposing older cabinets.

Gumtree or an online exchange website or second hand store can sometimes have suitable options.

There are also the modern ones which will cost more, but will probably be the easiest to work with.

Even new appliances can freshen up a space.

The back splash can also make a big change.

An interior designer could be well worth the investment to give you the direction you need.

Or simply sourcing through online websites like Pinterest or Houzz to get inspiration.

Then create the look you want.

My last point is to have fun when adding value.


Think outside the square.

You may well create something superb.”

The emotions you can go through when buying property

The emotions you can go through when buying property

Transcript
“Hello and welcome back to daily buying tips, I’m Dean Berman from Berman Buys.

Today we’re going to talk about the emotions you can go through when buying property.

Many buyers face the emotional roller coaster.

I would define this as the ups and downs in the buying process.

One second your so excited, you can’t stop smiling.

The next your upset, nervous and generally unsure of anything.

This generally happens at key moments during the search.

Great highs can be felt during inspection and having a positive feeling.

Then even higher highs when you feel the property is within budget.

An offer is put forward and your entire demeanour can change.

From nervously putting the offer forward.

To becoming quit unsure as you wait for a response.

Unsure if it will get accepted or not.

You must realise all these emotions are totally normal.

I mean it’s a decent amount of money you’ll be investing.

It’s important to realise that logic is another vital component.

When you go through this roller coaster.

Remember, in many instances there are many properties out there.

If it’s meant to be with this property, it will happen.”

Is it better to buy property at a certain time of the year

Is it better to buy property at a certain time of the year

Transcript
“Hello and welcome back to daily buying tips, I’m Dean Berman from Berman Buys.

Today we’re going to talk about whether it’s better to buy at a certain time of the year.

I guess as a buyer, this comes down to whether your in a good mood to look at properties or not.

In theory, it’s more preferred to be sunny than raining.

Resulting in a better mood and possibly better prices.

It’s been widely regarded that Spring months are the time to sell.

Prices should in theory be higher during that time.

It’s sunny, the birds are tweeping, properties look their best.

Like they’ve been training for a high end fashion show in Milan.

As a buyer this is an interesting point to note.

Winter are usually the months associated with poorer results.

Who likes freezing whilst searching?

In theory, the colder times of the year may offer some benefits as a buyer.

Then again, there’s no definite answer.

I think it really comes down to the property and the market at the time.

If the property is fantastic, it will probably perform well in most weather conditions.

If the market is strong then demand should be high, and vice versa.

One thing that can cause prices to fall is too much supply.

This isn’t a seasonal issue.

It’s simply building too much and the market not being able to absorb the new supply.

Either way, it’s always nice to get a little tan whilst searching.”

Why property is so interesting

Why property is so interesting

Transcript
“Hello and welcome back to daily buying tips, I’m Dean Berman from Berman Buys.

Today we’re going to talk about why property is so interesting.

Property has so many aspects to it.

There are different sectors from residential, retail, commercial and industrial.

People buy property for different reasons from occupying to investing.

Therefore there are different thought processes involved.

Some are more emotional and some are more logical.

In the residential space.

Every property is basically different.

Even in the same development, with the same exact floor plan.

The light, the sounds, the temperature.

Can all be different.

Virtually every house is different in some way.

Therefore you never really see the same property twice.

The other thing is any property can be changed even with the same design.

The styling, wall colours, window coverings, light fixtures, appliances, layout.

You enter neighbouring properties in a development and get a totally different experience in very similar spaces.

The reasons why people live in an area, totally changes for differing areas.

Often it’s down to affordability.

But even so, that area becomes home and many wouldn’t move if they could.

Property becomes more than 4 walls.

It’s the vibe, agh, it’s the vibe. I rest my case.”

Interest rates have a greater effect on property prices concludes RBA

Interest rates have a greater effect on property prices concludes RBA

Transcript
“Hello and welcome back to daily buying tips, I’m Dean Berman from Berman Buys.

Today we’re going to talk about a recent finding by the RBA and house prices.

I’ve often believed many factors affect price movements.

Supply & Demand.

Population.

Unemployment.

Economic growth.

Construction costs etc…

The RBA recently concluded that interest rates have a large and significant direct effect on construction activity.

This is because the cost of finance becomes cheaper.

If something usually becomes cheaper, more people will usually use it.

The RBA continues to explain that low interest rates.

Explains much of the rapid price growth in housing prices and construction over the past few years.

Once again as the cost of money becomes cheaper, more people will use it.

The report found a 1% cut in interest rates boosted house prices by 8% over the past 2 years.

The report also claims that high immigration levels contributed to growth in prices.

This is more people becoming residents and demanding more property.

More demand for property, will put upward pressure on prices.

Which at the end of the day, does come back to supply and demand.

However, the key finding is interest rates have a greater effect on property prices than initially thought.”