Author: IP Valuations

5 most common mistakes of first home buyers in Sydney.

There is always a first time for everything they say, so if you are planning to buy your first property, you definitely should read this article.

Take a look at some common missteps you should avoid when getting onto the tough Sydney property market.

1. Not managing your emotions

When you’re planning to buy your first home, you’re going to be excited, that’s the fact and it doesn’t matter how often your friends tell you to take the emotions out of the process. It’s naive to expect us to disconnect from such personal decision.

But if you want to make sure you’re not taken advantage of, try to keep your excitement under control as much as you can. It will help you spot major issues and risks before you buy your dream home in Sydney.

Try leaning on a family member or third party to help you stay objective and sound out your thought processes.

Even if you fall in love with a house, at first sight, don’t ignore that little voice in your head that is trying to remind you to do your due diligence before you make the final decision.

2. Overstretching your budget

When it comes to a price you would like to spend on a property, you can build in some buffer, but it’s crucial to have a clear idea of your actual limits. During house auctions, full of other potential buyers, it’s way too easy for even the most rational of us to get carried away and call out for an extra $5,000 you simply can’t afford.

Exercise financial discipline and don’t overextend yourself. The perfect home won’t be a consolation if you don’t have enough money to furnish it – or even worse, you can’t cover your mortgage payments because you got carried away.

3. Skipping hidden costs in your budget.

The price you have to pay for your new home is just the beginning. Before you commit to buy you should factor in the cost of building and pest inspections. Don’t forget stamp duty and settlement fees to cover conveyancing and title changes.

There may also be application fees imposed by your mortgage consultant.

Eventually, you’ll need to consider moving, insurance, council rates and ongoing maintenance costs – many things you didn’t have to worry about when you were renting.

4. Not getting your finances sorted.

If you are decided to buy your first property in Sydney, don’t forget about all the necessary preapprovals from a bank or other lender. That way you’re ready to make a fast decision when you find your dream home. Failing to have your paperwork sorted can mean you might miss out when you can least afford it.

Once you commit to purchasing a property, you’ll need documentation of your loan and be ready to pay the deposit immediately.

While some sellers and real estate agencies accept offers on the property subject to financing, an unconditional offer will always be preferable.

5. Not getting the property inspected.

It’s one of those things that can not only save your budget but possibly save your life. Faulty wiring, shaky foundations, pest infestations, etc. There is a range of things that might be wrong with a property that you won’t catch with the naked eye.

Don’t try to save money on professional building inspections. For only a couple hundred dollars a specialist can spot the problems, you would never notice, but could cost you a fortune in renovations or repair if you charge ahead unaware.

If you are considering buying a residential property, make sure you also know its current market value. IP Valuations is here to help with its independent and professional team of valuers.

Feel free to call us on (02) 9659 5446 or fill in our enquiry form on the contact page.

Content Source: 5 most common mistakes of first home buyers in Sydney.

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Is location important when it comes to investing in properties in Sydney?

When we look into the past three decades, Sydney’s residential property market has been very kind to investors as well as owner-occupiers.

30 years ago, people didn’t have to worry about doing much research when they wanted to purchase a property because the return on investment was always quite lucrative.

But as you can see in Sydney, investors who chose to purchase a house close to Sydney CBD or with ocean views 20 years ago are three times better off today.

This is why it’s crucial to understand lifestyle drivers and the psychology of what Sydney property buyers and owners want.

What determines property value?

Owing a house is a basic need and most people dream about a home, they could spend the rest of their lives in. That’s why residential properties have such a strong sentimental value.

Market demand and therefore house prices are driven by three main factors in Sydney.

1. Economy: People move to cities where they can access job opportunities and earn good money.

2. Culture: What can I do in this suburb in my spare time?

3. Social Behaviour: What will people think of me, if I live here?

People who are planning to live in the property will pay a quite high price (if they can afford to), to get their dream home. The views, distance to work, minimalistic or industrial interiors, the status of the suburb, lifestyle drivers – restaurants, schools, cafes, dog parks – it all matters.

The lifestyle conveniences mentioned above, are the direct cause of some locations outperforming others.

As a result, market growth has become more diverse, in that, some suburbs perform well and others stay at the same level or decline.

Our job as property valuers in Sydney is to become a part of this evolutions and study the human psychology of preference.

No longer can you simply purchase any property and wait for time to do its work. Nowadays, you have to be proactive and mindful to make better choices.

Location, location, location!

The only thing you can’t change about a property is its location.

When it comes to the value of the house, the location takes around 80% of its total value, while the property itself is worth approximately 20%.

Of course, we all aim to get both the location and the property type.

However, in the majority of cases, an ‘average’ property in a great location much preferable than a fantastic property in an average suburb.

But a word of caution here – if you decide to purchase the wrong property, you may undo all the great work you’ve done in choosing the right suburb.

Many property investors in Australia get this wrong and focus on the property instead of its location.

Take a look at the order features and characteristics you should consider when thinking about buying or investing in the property market.

1. State
2. Suburb (ideally within 10-12km from CBD)
3. Property (detailed analysis)
4. Due Diligence (building inspection, title type)

Houses, units or apartments?

Once you have determined the right location, you can start thinking about the property itself.

While houses, townhouses and units can all make good investments, it’s important you know which property type is right for the people living in that particular area.

Run a local demographics research – age, incomes, professions, family sizes etc. If it is majorly a family area, people will be more interested in houses rather than units or apartments. On the other hand, if it’s a fashionable area full of young professionals and uni students, a 70s style low-density loft is likely to do very well.

With the right research and team of professionals from IP Valuations behind you, a lot of the guesswork and risk of investing can be eliminated and result in an excellent investment that outperforms the market.

If you are considering buying a residential property in Sydney, make sure you know its current market value. IP Valuations is here to help with its independent and professional team of valuers.

Feel free to call us on (02) 9659 5446 or fill in our enquiry form.

Content Source: Is location important when it comes to investing in properties in Sydney?

Expert Witness Valuations For Litigation Matters.

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What is an Expert Witness Valuation and why would you require one?

Where a court case or litigation occurs because of a property dispute, the case will almost always rely on a professional assessment of the property value. In these cases, the experience and professionalism of the company that you use are important.

Arranging a valuation for expert witness purposes requires in depth research, as well as extensive experience by the valuer in this field to ensure the report will satisfy the court.

Why Use IP Valuations?

Important qualities for an expert witness include ethical standards, professionalism, impartiality and clear communication. These are the reasons that many clients chose IP Valuations. We also have the experience, qualifications, and licensing required for proceedings.

Appearing in court can often be a stressful process, which is why we take additional steps to make your experience easier. Our valuers are also available to consult regarding the process of legal proceedings.

Choose us and we’ll ensure:

– Our professional valuers provide many years of court experience.

– We provide a high quality of service as expert witnesses.

– You’re supported throughout your litigation process.

– Your valuation is completely independent and suitable for all court cases where property value is required.

– You enjoy a customer service that you can rely on.

Things about Expert Witness Services that you should know:

Clear communication is essential.

Detailed knowledge of court proceedings is required for an expert witness to perform their duty. You’ll need to make sure the property valuation company you chose has in-depth experience of the workings of the legal system. Testimonies need to be presented properly, carefully, and in the correct format.

With decades of combined experience, we assist both private and professional clients to obtain accurate property values.

We provide independent valuation to ensure that our reports are unbiased.

Organise your Valuation

Call and speak to an expert adviser today on (02) 9659 5446, or contact us online to get a response within a day. You’ll be put right through to an expert with over 5 years of experience – someone who’ll be able to get started immediately on your case.

Content Source: Expert Witness Valuations For Litigation Matters.

Why Do You Need A Tax Valuation?

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There is no doubt that taxation is a very important subject whether for individuals, businesses, non-profitable organisations or even religious institutions. We all have to pay taxes to the Government and there are many factors that should be taken into account when determining tax amounts.

We are leading valuation specialist operating across Sydney and we understand the importance and seriousness of taxation valuations. Taxation can be paid either on income from individuals or businesses. When it comes to real property assets for companies, they have to be regularly valuated for taxation purposes.

Why you should choose IP Valuations for your Taxation Valuations:

Based on certain valuations, an individual or entity will be able to determine their taxation amount that needs to be paid.

There are different ways and means by which the ATO can interpret these valuations in Australia. That’s why you should choose the best specialists in Australia.

We have a great understanding of the complexity of valuations and approach every project with utmost care.

All of our valuers have experience with property taxation matters

We make sure to provide our clients with in depth detail of their assets.

Our team members make sure to stay up to date with the latest changes to laws pertaining taxation valuations.

We use the latest facilities and infrastructure that help us to provide our client with prompt and accurate valuations.

Call IP Valuations today on (02) 9659 5446 and get in touch with one of our experts today.

You can also email us your details, or simply fill in the enquiry form at Contact Us page and we will get back to you.

Content Source: Looking For Taxation Valuations

How Do Property Valuers In Sydney Come Up With A Figure?

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It may seem like yet another expense, but a property valuation could also be a necessity for your successful real estate purchase.

Benefiting the buyer and seller, a property valuation can help you to assess the current value of a property in an open and competitive real estate market.

For a valuer to do their job, they generally need to visit the property, measure it and note details on the building structure and its condition, any structural faults, rooms and layout and their presentation and fit outs, fixtures and fittings, and any improvements.

They also make notes on the property’s vehicle access and any garages, carports or out buildings.

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Often the valuation will include photos of the property highlighting certain features.

Once they have visited the property, they also look at planning restrictions and council zoning and its relative location. The valuer then compares all these attributes to recent comparable sales in the surrounding area before coming up with the magic figure.

What is the difference between licensed valuers and real estate agents’ appraisals?

Real estate agents often give you an appraisal on your property when trying to gain your listing. They base their appraisals on other sales in the area and their experience. Remember, real estate agents are working for the vendor (which could be you) who pays the commission on the price they achieve, not the official valuation.

This is different from a valuation carried out by a licensed valuer, who has to base their report on facts as they are legally responsible for the information they provide.

A property sale may fall over on a valuation if the property’s value doesn’t come close to the agreed sale price. A buyer, on behalf of their lender, could deem the finance clause is a reason the property can’t go ‘unconditional.’ They may either decide to exit the contract or re-negotiate.

How can you increase your house value?

If you are looking to sell your house in the future and want to know what might help when the property is valued, here are some helpful pointers.

You can’t change your property’s location, but you can change the house itself. Think about a renovation or extending the floor area of the house. Can you add a bathroom, bedroom or entertaining area? What about improving your indoor-outdoor flow?

Make sure the property is well presented. Can you tidy up the garden or remove any untidy trees or structures? Are there any views that can be taken advantage of or can you make vehicle access easier?

Give your important rooms – the bathroom and kitchen – a mini makeover. It can often be fairly cost effective to update cabinetry, the bench top, light fittings and fixtures. Even a quick lick of paint can do wonders!

Do you have covered areas for vehicles? Can you add a carport or garage?

Give your property a general tidy up. If your block and house are neat and tidy and look well maintained, it is likely to benefit the valuation.

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If you are considering buying a residential property, make sure you know its current market value. IP Valuations is here to help with its independent and professional team of valuers.

Feel free to call us on (02) 9659 5446 or fill in our enquiry form.

Content Source : How Do Property Valuers In Sydney Come Up With A Figure?

3 Top Tips To Add Value To Your Commercial Property

3 Top Tips To Add Value To Your Commercial Property

Commercial real estate investments in Sydney create lucrative opportunities for those active in the market. It is vital to ensure you get the best valuation of your commercial property. To guarantee the best valuation for your commercial property, here are a few ways to add value to the property:
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  • Making structural and cosmetic changes – It’s one of the most common ways to add value, but if it’s done right, your investment will benefit. Adding square footage to your property and increasing the rent-able square footage are just a couple of examples.

  • Minimise expenses – The value of a property is calculated on its profitability. By reducing expenses such as electricity and utilities, a property can increase profitability without impacting leasing operations.

  • Maintain leasing appeal – a vacant building can decrease the value of a property dramatically. By maintaining the property’s appeal and keeping tenant relationships harmonious, you can easily retain property value as well as tenants.

If you have a commercial property that requires a valuation please don’t hesitate to contact IP Valuations from Sydney.


Content Source :
Commercial Property Valuations

The Reasons For Rural Property Valuations

The Reasons For Rural Property Valuations

Rural properties are those properties outside of metropolitan Sydney that comprise homes and business on land over 1 hectare in size. The properties we value include lifestyle properties, hobby farms and certain types of income producing land with associated improvements. Getting a report from a company with valuation experience in the area is key to making sure you get an unbiased and accurate appraisal. You’ll need someone with knowledge of current market conditions, as well as specific issues relating to rural property prices in the local area.

Why do People use IP Valuations Sydney when buying a country property

IP Valuations is an entirely independent and experienced valuer of rural property. This means you can rely on us for a precise valuation of your rural property.

The qualified fully licensed and experienced professional who you’ll be talking to will make your assessment process easy. This professional will be the same expert every time – your personal valuer – someone who’s fully conversant with the state of the property market in the area that you’re interested in, and in your case in particular.
Property Valuers Independent Property Valuations Sydney

Use us and we’ll make sure that you:

  • Are getting advice and a precise evaluation from a ten-year or more industry veteran

  • That the figure you get is supported by the Australian Property Institute

  • Can count on advice and information before, during, and after your assessment

  • Get a service that is independent, ideal for personal or business use, and personalized to meet your needs.

Other types of rural property valuations

Capital Gains Tax (CGT)

Many rural properties when being sold can benefit from the main residence exemption The ATO Subsection 118-120(2) of the ITAA 1997 provides exemptions to adjacent areas of land to a maximum of two hectares. IP Valuations understands the Capital Gains Tax in its application to rural property valuations and we will ensure your valuation takes into account all aspects required by the ATO.

Main reasons for Rural Property Valuations

  • Pre sale purchase

  • Superannuation audits

  • Centrelink asset tests

  • Inter family transfers

  • Probate or estate settlements

  • Family Law/Property settlements

Call (02) 9659 5446 now and chat with an expert about the rural property valuation you need. Or, why not contact us online? Simply send us your details, and we’ll get back to you within 24 hours

Content Source : Property Valuations