Upgrading or Downgrading

Life changes naturally occur in the family when additions are made to it or when children fly the coop. When the decision to have children is made or the mother-in-law is moving in, things can get suddenly cramped. That’s the time you’ll be thinking of upgrading to a larger and more expensive home. Now location considerations also change. In this case being near a school, parks, shops and even a hospital may suddenly become important criteria.
But, once again, the longer you delay in making the change, the harder it becomes because the market will have climbed in the meantime. So moving sooner rather than later enables you to buy in at a more favourable price, giving you more opportunity for capital growth.
Now let’s look at the opposite situation—down-sizing. In this case maybe the children are moving into their own pads and suddenly the house seems too big. Oddly enough, the situation reverses itself and you have the luxury of waiting to purchase until the market is in a strong growth phase.
The reason for this is that you can maximise the capital growth on your current property when you go to sell and minimise the mortgage (if any) on your next home or maximise any left-over funds for you to utilise in your life of retirement.
We at Professionals Logan Lifestyles can assist you on any real estate matter. If you have a question or are interested in a sale, purchase or lease feel free to contact me on 0418 517 575 or call into our friendly offices at Westpoint Shopping Centre Browns Plains for a chat.

Do Granny Flats Add Value?

The idea of adding a backyard structure can be very enticing whether it be for separate living quarters for an ageing parent, a private place for younger members of the family, a live-in nanny or, perhaps, a private office or study. But does it add value to the property? The quick answer is that providing it is aesthetically pleasing and in sympathy with the house and the backyard, it will add value to the property. As such, it provides a means to get the maximum realisation from existing services. As a workshop or bedroom, for example, it might well enable you to have a greater interaction between the garden and the house. However, building designer David Mulhall says building a separate structure is generally only wise if an extension isn’t possible or compromises a renovation. He believes people need to assess the merits of building a garden studio because they only appeal to a small segment of the market.

Mulhall says owners should consider renovating or extending their property before starting any backyard construction. Remember, too, to research and be aware of all the applicable building regulations, especially those dealing with dual occupancies.

Granny flats are also popular with families who have a dependent person including the elderly or a disabled family member who want to live close but not under the same roof. We at Professionals Logan Lifestyles can advise you on all matters which may enhance the value of your property. If you have any questions in respect of this article, or about any sale, purchase, letting or other real estate matter do not hesitate to call me on 0418 517 525 or call in to our friendly offices at Westpoint Shopping Centre Browns Plains for a talk.

Selling Your Home: Hold a Garage Sale

Clean and clear homes sell better. After all, not too many visitors will be thrilled to see other people’s mess in the homes they’re inspecting. You want to give your prospective buyers the chance to visualize the house with their lifestyle, not yours. So, if you’re thinking of selling your property, consider de-cluttering and selling some of your stuff first. Now you have the perfect time and/or excuse to get rid of those things just lying in your garage and gathering dust, or those tacky gifts given to you that you just can’t find a place in your home. And you’ll be making money at the same time. You can sell anything. Probably the only exception might be if you think you might regret selling something later on. Remember, what is junk to you may be treasure to someone else. Set up tables, clothes racks, and shelves in the nicest and most presentable way. You don’t want buyers driving by, glancing in and leaving, so make sure you arrange your goods in such a way that people will be drawn in.

Finally, you can also donate to charity. Hundreds of charitable organizations will be more than willing to take your stuff and clear your home for sale. Plus, you are reassured that your stuff will go out of its way to help someone else. Garages sales are fun. We at Professionals Logan Lifestyles encourage you to have one before the inspection program commences. If you have any question in respect of these hints, or about any sale, purchase, letting or other real estate matter do not hesitate to call me, Noel Thompson on 0418 517 525 or call in to our friendly offices for a talk.”

Getting Ready for a Spring Sale

It could be said that the early bird gets the worm, but putting up your property for sale in September or thereabouts could make sense. Consider that more properties are for sale from September to the first week of December than at any other time of the year.

In fact, there are proportionately more buyers than sellers in early spring, so your chances of achieving a higher price are better. When selling it’s also a good idea to scope out the market for comparable properties to yours, comparing apples to apples. If you have a 3 bedroom unit, for example, look and see what other 3 bedroom units on the street are selling for. Don’t look at 3 bedroom houses. Also, have a sales contract drawn up by a solicitor, because incomplete documentation can ward off buyers. It’s best to be properly prepared to respond to any issues that would concern a buyer’s solicitor.Regarding whether to auction or sell by private treaty, it depends on the house and the area. If your property has unique features that would attract plenty of buyers, then auctions can achieve a competitive atmosphere and a higher price. If you’re in a new housing development, on the other hand, where there’s other similar properties auctions are less successful. Finally, first impressions are so important when a sell sign goes up. So put attention on your garden. Simply pruning larger shrubs and trees, for example, can make the garden appear larger. If you’re thinking about selling or have a query, give myself a call on 0418 517 525/3800 4000 or drop by our friendly offices at Westpoint Shopping Centre Browns Plains Road, Browns Plains for immediate assistance.

Buying a Unit for Investment

Real estate is one of the safest forms of investment, because you can touch and feel the asset you own. At the same time, however, there are some units that will re-sell or be tenanted faster than others. In a survey by Matusik Property Insights potential buyers were queried as to their preferences. The object of the survey was to find out what unit design sells best. To begin with, people surveyed baulked at buying the traditional studio and one-bedroom apartment if the kitchen was under-sized. So an investor should either look to upgrade an existing unit’s kitchen or find one already suitable. Not only larger kitchens were desired in one and two bedroom units, but also larger living rooms. Dimensions mentioned were 6.5 metres to 8.5 metres. Potential tenants also favoured balconies and lots of natural light. The latter can make a variance in price even within the same apartment block. Of course, location is always high on the list. Ready transportation is a big plus as well as a secure garage. Another interesting factor was that the higher the rent, the more amenities were expected by tenants and buyers. Items like spaciousness, more bathrooms, good views and built-in fittings were expected. To be on the safe side, it’s always best to buy something you yourself would live in. Take advantage of our extensive experience in rental units by phoning me, Noel Thompson, on 3809 4495 or 0418 517 525, or stopping by our offices at Westpoint Shopping Centre Browns Plains Road, Browns Plains for friendly assistance.

Making Money in Property

There are four ways to make money out of property investments. To get the top performance from your property you should have a balance of all four elements, namely:- 1) Passive Appreciation: This occurs when you purchase a well-positioned property with a good location and it increases in value along with the general property market over time. 2) Active Appreciation: This happens when you take an action to increase the property’s value by renovation or redevelopment. 3) Rental Return: This is the most common source of return on investment, since it provides cash flow. 4) Tax Benefits: Property is probably the best investment for tax benefits due to negative gearing and depreciation allowances. It’s important to keep all four of the income-producing qualities in mind when investing in property. One reason is that well-located residential properties have inherently high growth rates. Most successful property investors over the long term do so safely without speculating. They buy quality properties in good locations and hold them over the long term, allowing them to grow in value. The main reason they purchase property in the first place is for strong capital growth. It is probably the golden rule of property investing to buy the best quality property you can in the best location you can find and which you can purchase within your budget. Then never sell the property. We at Professionals Logan Lifestyles can assist you on all aspects of real estate. If you have any questions about any sale, purchase, letting or other real estate matter do not hesitate to call me Noel Thompson on 0418517525 or call in to our friendly offices at Browns Plains for a talk.

Buying Decisions at Different Stages in Life

There are different real estate choices in life as one’s life progresses. The first one is when to move from a rented premises to an owner-occupied one. This is the most critical transition because it sets the foundation for every subsequent investment choice. Here are three important criteria to consider. The first one is job security. In order to get a loan, you’ll have a lot easier time if you’re permanently employed in a full-time position. Banks are less impressed if you’re a contract worker or have casual work. The second consideration is affordability. Once you have determined that your job situation is secure and you’ve duly saved up for all the purchasing costs including the deposit and stamp duties, then you will need to make the jump as soon as you can. This is because property always moves upwards over the long term. So don’t make the mistake of waiting for things to become more affordable. More often than not, they don’t. Now comes the third consideration—choosing the right location. You want to set the right investment foundation by choosing wisely. This will set you up for the future because you will watch your investment grow in capital value as land values rise. And location is a critical factor, simply because while all properties grow in value over time, some will grow faster than others. We at Professionals Logan Lifestyles can assist you on and real estate matter. If you have a question or are interested is a sale, purchase or lease feel free to contact me, on 0418 517 525 or call into our friendly offices at Westpoint Shopping Centre, Browns Plains a chat. Noel Thompson

Don’t Get Hammered: Check The Water Pipes

It can be really irritating on your first day in a new home to turn off a tap and hear a loud banging or rattling coming from a wall or beneath the floor boards: The cause is water hammer or “hydraulic shock” and it can sometimes cause extensive damage to water pipes, hot water systems and appliances.

Sometimes water hammer is an indicator of an installation problem relating to piping, valves, taps, cisterns, hot water storage and heating, washing machines or dishwashers. The most common causes are tension in the piping, poor piping support in walls and under floors, high mains pressure and fast-closing solenoid valves in appliances.

When a tap is suddenly shut the moving mass of water in the pipe behind, which has built up velocity and pressure, suddenly stops...releasing a shock wave either in one loud bang or as a series of hammering noises. Eventually, this can cause leaks and even failure of the piping system.

Sometimes water hammer only occurs with a single device in the home, commonly a flush toilet. When you pull the chain or push the button to flush the bowl a float valve opens to refill the cistern. The closure of this valve can then produce water hammer in a susceptible system. This can be hell for light sleepers in the family home when it happens at night.

We at can assist you to locate a plumber in your area or resolve other property concerns.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

Insulate For Comfort and Economy

In a new home the cost of insulating walls, ceilings and floors is very reasonable because sarking (applied under roof cladding) and fibreglass or rockwool batts can be installed during the construction phase when access is optimised.

The purpose of insulation is to block the flow of heat into and out of the building. Wood, brick, stone and concrete have good insulating properties because they are poor conductors of heat but engineered insulation products are far more efficient. Modern lightweight insulating mats and batts only 150mm thick will block the flow of heat as effectively as a solid brick wall.

You can purchase packs of insulation material from hardware stores and building supplies retailers together with free do-it-yourself installation instructions but beware; this is not a task to be taken lightly. Insulation products, especially those made from fine shreds of glass or stone, can cause severe skin irritation and bronchial problems. Masks, gloves and protective clothing must be worn.

Other popular insulation products include cellulose, polystyrene, urea formaldehyde, perlite and urethane and are applied either as loose fill, mats, batts, slabs and rigid boards (urea formaldehyde and urethane are usually foamed-in-place).

Crawling around in roof spaces can be hazardous because of the risk of electrical shock, heat exhaustion and physical injury so it is recommended that you get quotes from professionals before attempting the task yourself.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

Joint Tenancy

Joint tenancy is a form of real estate ownership wherein two people jointly purchase a property with the intention of splitting everything fifty-fifty.

To illustrate the above, suppose an investment property is purchased and one party pays for 80 per cent of the deposit and expenses, while the other covers the balance. When tax time comes, the two parties have to claim 50 per cent of the expenses and 50 per cent of the income on their respective statements. It does not matter that one paid proportionately more than the other. This is what joint tenancy is all about.

In the case of a husband and wife, suppose an investment property is purchased jointly for $280,000 and the husband pays $100,000 down as a deposit. Even though he paid for 35 per cent of the property outright, all income and expenses must be declared evenly on their tax returns.

While the above situation would disadvantage the husband if he were in a higher tax bracket initially, over time when the property becomes cash positive it may turn advantageous. This is because 50 per cent of the income will be taxed at the wife’s lower rate.

Another facet of joint tenancy is what happens when one partner dies. In such a case, the property automatically reverts to the full ownership of the other party. So one’s interest in the property cannot be willed to a third party, as in the case of a tenancy in common

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

Storage: A Journey Into Space

Family homes are designed to hold the furniture and possessions that the occupants need and accumulate over time. However, when family possessions become so numerous that they eat up all the available space it’s time to either move into a bigger home or expand the existing one to cope.
• Add a second storey
• Add a room/s
• Add a storage shed

The construction of additional rooms does not always solve the problem of clutter because family members always see the newly created space as potentially having another role – a games room, TV room, visitor’s bedroom etc.

Adding another level usually leads to a reallocation of space and the purchase of even more goods to fill the rooms.

Backyard storage sheds can vary from self-assembled ColorBond cupboards to an architecturally-designed granny flat.

Urban dwellers can find plenty of storage units available for weekly, monthly or annual hire. These can vary from something the size of a clothes cupboard to a double garage. In country areas it is often possible to cheaply rent an unused shed or garage.

In any event, carefully review your possessions before making expensive storage decisions. Why not let us at Professionals Logan Lifestyles look into your space problem because we have the experience and knowledge to suggest possible ideas that will suit your situation.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

Supporting A Wonderful Cause

Professionals cumulative total raised for the National Breast Cancer Foundation is now OVER $1,618,090. www.nbcf.org.au

Do You Need to Furnish Your Property?

In past times tenants were hard to find and anything extra to attract them was a bonus. But nowadays vacancy rates are at historic low points. So this is hardly necessary for a start.

Even if you do furnish your property, there is every chance the tenants may not find your tastes agreeable. Leaving the property vacant means that your prospective tenants will at least be wealthy enough to have their own furniture. And there won’t be the problem of replacing worn out items.

Yes, you can claim depreciation, but be aware that tired furniture can turn people off as well. So you might end up having to buy new furniture more quickly than anticipated.

There’s every chance, too, that tenants without furniture will also be more transient. This means additional letting costs and loss of rent in the downtimes. Whereas tenants with furniture will at least be motivated by the costs of moving to stay put longer.

The worst news is that the demand for unfurnished properties exceeds that of furnished properties. So why go to all the trouble of outfitting your property in the first place?

There are some exceptions to the above—holiday rentals and serviced apartments. In these cases you’ll want to have a professional manager overseeing the operations.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

How Government Could Expand Home Ownership

If there’s one thing apparent to all, it’s that home ownership numbers need to be boosted. The rental market is getting crowded, vacancy rates are falling, and the housing market needs a stimulus.

So here is an idea that bears thinking about. Why not allow first home buyers to be investors as well as owner occupiers? In other means, instead of requiring all first home buyers to move straight into their homes for at least the first 12 months, let them take renters on who could assist them with the mortgage?

This would allow young buyers to stay at home, while giving their parents a chance to fund their deposit and not see them under financial duress.

They could rent out their properties and build up enough savings that in 3-5 years time would allow them to take over the property itself and become true owner- occupiers.

They could even keep their tenants and use their first purchase as a stepping stone to secure a second property. This would put an extra accommodation into the national rent pool. Collectively, the first home buyers group would greatly expand and the Federal Government would save itself millions of dollars in housing subsidies in the meantime.

This plan would not only encourage home ownership, but it would also allow parents to participate in securing their offspring’s future.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

Professionals Logan Lifestyles Welcomes Our New Sales Team Members

Marian Grimsey - Marsden Office
Maryanne Arici - Browns Plains Office
Rusy Rusydi - Springwood Office
Braddy Zakaria - Springwood Office

National Breast Cancer Foundation

Professionals cumulative total is now OVER $1, 389, 192

How to Make Your Property Secure

The following are tips to make your property more secure:
* Display the street number at the front of the property to assist emergency services to locate your property.
* Ensure all perimeter fences are in good order and that gates are kept closed and locked.
* Trim trees and shrubs from around doors and windows so as not to provide concealment to intruders and to increase visibility to and from the street.
* Install quality security lights around the perimeter of your home.
* The power board to your home should be housed with a secured metal cabinet.
* All perimeter doors to your home should be of solid construction and fitted with quality dead lock sets.
* All perimeter windows should be secured with key-operated locks to restrict unauthorised access.
* Glass within doors and windows should be reinforced by either adhering a shatter resistant film, replacing with laminated glass or having quality metal security grilles or shutters fitted to restrict unauthorised access.
* Consider having a monitored intruder alarm system installed.
* Garages should be locked to restrict access. Roller tilt and panel lift doors can be secured with additional lock sets in the form of hasp and staple or padlocks.
* Get a pet. A dog can be a deterrent to thieves.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

How Stamp Duties Distort the Market

Stamp duties are the bane of the property industry. Not only are they inefficient, but they also make our country over-dependent on property revenue.

Our property taxes (stamp duty and land tax) account for nearly 9 percent of our revenues as opposed to an overseas average of 6 percent.

A major problem with stamp duties on property sales is that they create a “lock-in” effect by discouraging homeowners from moving which dampens market activity. This is particularly harsh on first homebuyers when fewer new properties are being constructed.

There is also an inflationary effect, because every time a homeowner wants to sell, they need to bump up their price just to recover stamp duties.

Because they don’t want to pay stamp duties twice, families will often buy larger homes than required, figuring their families will eventually expand in size. This creates extra financial pressure.

People wanting to upgrade their circumstances, which is natural when one’s income increases, are often discouraged from doing so by stamp duties and have to settle for renovating their existing property.

Worse yet, older people wanting to downsize are likewise prevented from doing so because of the necessity to sell for more money to pay off the stamp duties.

The Federal Government’s own Treasury department found 125 separate federal, state and local taxes a year. Ten of these raised 90 per cent of tax revenue which indicates that the remaining 115 may be inefficient and need to be rationalised.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495 or Springwood 3808 5544.

Single Parents Need Housing Assistance

Sociology lecturer and author Maggie Walters suggests that single parents should be eligible for assistance just as low income earners receiving rental assistance.

“There’s an awful lot of non-resident parents in housing stress. Separating, when you have children especially, causes hardship and housing hardship for everyone, and it ripples on for years.

“Both parents have poor housing outcomes in comparison to those who don’t separate, or who have not separated yet,” Walters concludes.

In a recent body of research work, Ms. Walters and her co-author analysed 4000 households with parents of children under the age of 18 in 2005, including more than 1000 separated parents.

Interestingly, the study showed a great disparity in home ownership retention. The separated parents maintained a home mortgage in 47-48% of the cases. But for parents who stayed together, that same figure hovered around 81%--a big jump indeed.

“Most people have such big mortgages now that when they separate there seems to be a pattern that both parties are thrown out of home ownership, because even if she gets to keep the equity in the house she won’t be able to afford to pay for the mortgage herself, so the house is sold,” she comments.

To remedy the situation, Ms. Walters suggests that separating parents should be able to get financial assistance to help them maintain home ownership, or to re-enter the market if they are in danger of falling out of home ownership.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495 or Springwood 3808 5544.

Go Green with Insulation

Government ministers call it “low-hanging fruit”. This is a term designating going green and still not changing your basic habits relative to electricity and gas consumption.

And one such “low-hanging” fruit is insulation. Not only does insulating your home mean you’re less susceptible to winter’s cold. But it also means you’re cooler in the summer heat. It’s one of the less sexier ways to go Green.

What insulation does is save you hundreds of dollars in electric bills, plus it cuts down on peak-load generation of electricity and, most importantly, reduces greenhouse gas emissions. Not bad for doing something so simple and sight unseen.

Yet despite all these benefits, householders are slow to respond with actually taking the step to install insulation. Incredibly, nearly 40 per cent of Australian homes—more than 2.7 million—are not insulated according to the Australian Bureau of Statistics.

Worse yet, instead of seeking the cause of high energy bills, the proportion of homes with air-conditioners rose from 33 per cent in 1994 to 60 per cent in 2005. Ray Thompson of CSR Bradford Insulation calls this a “double whammy”, because it increases both energy inefficiency and greenhouse gases at the same time.

Insulating Australia’s 2.7 million non-insulated homes would cut greenhouse gas emissions by about 90 million tones by 2050, according to the Insulation Council of Australia and New Zealand.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495 or Springwood 3808 5544