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via therealestateconversation.com.au

Buying your first property is hard, so let’s make it easier for you.

Congratulations! You have decided to take the plunge, you have done some reading on what the various responsibilities when it comes to being a homeowner, you have spoken to the bank and have an idea of how much you are able to afford.

These steps take some time so we are here to encourage you to take the next step in home ownership. We know it’s a little bit nerve wrecking and a little bit scary, but we have compiled some advice from our in house experts to help you with this exciting time!

Looking for affordability without compromising on location

For many of us, your first home is not going to be your forever home. We recommend taking a holistic approach to purchasing property. Even if you are going to be living in that property, look at it as an investment as well.

For those first homebuyers who do not want to compromise on space, you may have to look further out depending on your budget or look for townhouses or terraces. If you are looking to keep more of your lifestyle, an inner city apartment may be the apt living situation for you.

What we emphasise is buying smart and seeing your home purchase as more than just a living situation but a step in growing your portfolio. You might want to ask yourself “How much rent will I get for this apartment?” or “What has been the capital growth in the area over the last few years?”.

We think asking these questions will not only give you peace of mind if you have to move out and rent or sell your property, but it is also how many people start their property portfolio. The first one does not have to be picture perfect, but it helps if it is a sound investment.

Location and amenities

The building, home or internal features are not the only things that you should consider when you buy. Are you in a desirable school catchment zone, are there amenities or transport facilities planned in your area or has a new shopping centre been planned?

Looking at the amenities and area around you is particularly important, as they are great financial health indicators that the area you are looking to buy in has infrastructure and amenity to attract people to live there.

Look on suburb out from your dream location

Looking for undervalued suburbs next to the pricier areas is always a something we recommend to our first home buyers – over time, population growth and gentrification will mean that there will be capital growth in your area.

It’s always good to also look at areas with employment growth as this will increase demand for homes in that area. Finally, do your research. It takes time to go through all the listings in the area you love and view the various prices they get sold for but it’s all worth it when you know you are on to a great purchase.

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via reiwa.com.au

The latest REIWA Curtin Buy-Rent Index for the March 2018 quarter has revealed it’s the best time to buy in Perth since 2013.

The Index, released quarterly, assesses whether it’s better to buy or rent in Perth based on past and current trends in the economic and property market climate.

REIWA President Hayden Groves said the March 2018 quarter index showed the annual rate of house price growth required over 10 years to break even in the Buy-Rent Index had declined from 3.3 per cent to 3.1 per cent over the quarter, suggesting an improvement for prospective homebuyers weighing up the decision.

“To put that into perspective, Perth’s annual house price growth rate has been 5.9 per cent for the last 15 years. Based on the March 2018 quarter Index, house prices in Perth would only need to grow by more than 3.1 per cent annually for buying to be considered more financially beneficial than renting,” Mr Groves said.

“This improvement in buying conditions can be attributed to the Perth median house price softening by 1.9 per cent during the March quarter, while the median house rent price increased $5 to $360 per week. We also saw the 10 year average mortgage rate drop to 6.43 per cent, which means home owners are paying less on their mortgage repayments.

“This is the most affordable buying environment we’ve seen in Perth for some time, so if you’ve been weighing up whether to buy, now is the time to take advantage of favourable market conditions,” Mr Groves said.

Mr J-Han Ho, a Property Researcher and Senior Lecturer in the School of Economics and Finance at Curtin University, said the data indicated a continued improvement for the home buyer in the near future.

“Our analysis shows home buyers gaining an advantage, largely due to the low interest rates for home loans, home ownership costs continuing to be affordable and the median rents stabilising,” Mr Ho said.

View the March 2018 quarter Buy-Rent Index.

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popsugar.com.au

Image Source: POPSUGAR Photography / Lisette Mejia

 

If the idea of getting your home company-ready is keeping you from hosting a dinner party or even your out-of-town in-laws, we can help. Sure, you could spend all day cleaning and decorating in anticipation, but who has the time? Here are the only things you really need to do before your guests arrive. Don’t worry — they are nothing but easy.

 

The Scent of Your Home

Image Source: POPSUGAR Photography / Brinton Parker

Fresh Flowers

Image Source: POPSUGAR Photography / Mark Popovich

 

The Lack of Clutter

Image Source: POPSUGAR Photography / Grace Hitchcock

 

A Tidy Bathroom

Image Source: POPSUGAR Photography / Grace Hitchcock

 

An Organised Entryway

Image Source: POPSUGAR Photography / Lisette Mejia

 

 

 

 

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popsugar.com.au

You’ve worked hard to make your bedroom a welcoming sanctuary, but beneath its pretty facade, there could be serious health hazards lurking. Read on to uncover the bedroom dangers that could be harming you while you sleep and learn what you can do about them.

Air Quality

• Open Windows

Let your bedroom air out by opening the windows as weather permits each day. It will refresh the space and void it of noxious gasses that can build up indoors over time.

• House Plants

Not only will a potted plant or two beautify your bedroom, but they will also release oxygen and help filter out harmful compounds emitted by everyday cleaners, detergents, and fragrances. Studies show that these 10 houseplants can even improve your health.

• Purify

A quiet air filterer is an efficient way to purify your bedroom of dangerous pollutants and agitating allergens like dust mites, pollen, and pet dander.

Cleanliness

• Clean and Dust

Even with an air filter, it’s important to keep dirt and dust mites at bay by cleaning regularly. Pay special attention to areas that tend to accumulate them the most, including the floor, baseboards, windowsills, and upholstery. Even “clean” people often forget to wash these eight things.

• Wash Bedding

The amount of dead skin, grime, and dust mites that collect on your bedding is rather horrifying and can cause problems from asthma to acne. The good news is it’s easy to get rid of by cleaning your sheets, duvet, and pillowcases every 1-2 weeks. Case in point? This horrific study reveals the horrific result of not washing your pillows for just two years.

• Air Out Bed

Keep moisture from getting stuck in your bedding and mattress and causing problems by airing it out briefly before you make the bed in the morning. Pull back the sheets, fluff out the pillows, and give everything a few minutes to dry before they’re closed back up for the day.

Hidden Toxins

• Chemical-Free Pillow

Bad news for memory foam pillow-lovers. These ergonomic head rests often outgas dangerous Volotile Organic Compounds or VOC’s that can cause headaches, nausea, and eye irritation. You don’t want your face, mouth, or nose anywhere near them. Swap them for pillows filled with organic materials, like wool or feathers, or at least a safer foam like a natural latex foam.

• Flame Retardant-Free Mattress

Considering how much time you spend in close proximity with your mattress each day, it’s a no-brainer to make it a safe one. While many products, including mattresses, were once doused in flame-retardant chemicals, it’s come to light that these chemicals are doing much more harm than good. They’ve been linked to types of cancer, birth defects, and fertility issues. Scary stuff, and reason to seek out an organic, chemical-free mattress.

• Move Office Equipment

In small apartment or studio, space is at a premium and spaces may have to do double duty – but do your best to keep office equipment away from your bed, especially if it’s running all the time. Research has shown that laser printers emit tiny particles into the air that may be dangerous.

 

 

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reiwa.com.au

One of the most widely misunderstood elements of real estate is what condition a property should be in at settlement or possession.

What does ‘buying as inspected’ really mean?

In short, a property is sold “as inspected”. If there was dust on a ceiling fan when you first inspected before contracting to buy then the fan can be dusty at settlement. The same goes for a dirty oven, a blown light globe or a squeaky laundry door. If it was dirty, blown or squeaky at inspection before purchase then so it should be at settlement.

Buyers will typically expect that the property is handed over to them spick n’ span and thankfully most house-proud sellers leave their homes in an appropriate condition when moving out, however legally there is no obligation for them to do so.

What should you expect at settlement?

If you’re buying a home, it’s smart to have a realistic expectation of what to expect at settlement.

Unless otherwise specified in the contract, the seller is under no obligation to have the property professionally cleaned for settlement and it is surprising how few buyers ask that such a condition be included.

The seller’s only obligation under the contract (Clause 6.1(b) 2 of the General Conditions) is to “…remove from the Property, before possession, all vehicles, rubbish and chattels, other than the Property Chattels.”

Many modern contracts to purchase include provision for essential plumbing, gas and electrical components to be working at settlement. Hence, if at settlement the toilet cistern leaks then the seller ought to make good because the contract says so.

It is trickier when, for example, a telephone jack doesn’t work at settlement. It is not strictly electrical but it is probably reasonable for a buyer to assume that it was functioning at inspection. This is partly because, caveat emptor (buyer beware) has all but disappeared according to some legal practitioners. The onus is probably on the seller to disclose (in this case) that the telephone jack didn’t work.

How to ensure you’re happy with the property at settlement

My view is that buyers need to take reasonable steps to ensure the property they have bought will be presented to them in a condition they are satisfied with.

This can be achieved by either contracting with the seller to guarantee it and/or being more thorough when inspecting the property in the first instance. Ask the agent if it’s ok to turn on taps, flush loos, flick switches, open and close doors, open the oven, turn on the dishwasher and so on before making an offer to purchase.

Buyers ought to have a realistic expectation of what to expect at settlement when buying an established home and acknowledge that opinions of presentation are subjective.

Speak to our market experts on 9475 9622 to discuss about your property concerns

 

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via popsugar.com.au

Image Source: Thomas J. Story/Sunset Publishing Corp

An old home with a lack of square metres might feel limiting to some, but the 83-square-metre, 1900s-era Sunset Smart Cottage proves any space can be transformed with strategic decorating and innovative home gadgets. Even the interior design concept for the cottage involved an emerging tech trend: virtual interior design services. Sunset tapped designers Jessica McCarthy and Emily Gaydon from Decorist, a virtual decorating service that offers a fresh approach to the design and remodelling process. “Online services such as Decorist are often budget friendly and more accessible to the masses. We liked the idea that users can get matched up with designers based on their personal style and goals and can work through the process over email, FaceTime, and even texts,” says Sunset home editor Chantal Lamers.

So what exactly was the design strategy behind this tiny tech oasis? POPSUGAR caught up with Decorist designer Jessica McCarthy to get her insights on the smartest solutions for living large in a small home. Read on to discover the optical illusions and space-planning secrets she used in every room!

1. A Bold First Impression

   Image Source: Thomas J. Story/Sunset Publishing Corp

   Even the tiniest cottage can have major curb appeal. Jessica suggests painting your front door in a bold hue and replacing the exterior hardware. The cost-effective upgrades are details guests will definitely notice. Keep landscaping affordable and low-maintenance by planting drought-friendly shrubs and perennials from the Sunset Western Garden Collection. Top off the look by adding a few potted plants to the porch for an extra touch of greenery.

2. Layered Textures

   Image Source: Thomas J. Story/Sunset Publishing Corp

   To combat the claustrophobic feel of a narrow living room, Jessica suggests opting for a neutral colour palette and avoiding bold patterns to make the room feel large and airy. Since colour and pattern take a backseat, you can go wild with texture. Grasscloth wallpaper, leather seating, linen curtains, and a variety of throw pillows give the space a rich, layered feel. To complete the look, add a semi-flushmount instead of a hanging pendant or chandelier to make the ceilings feel even taller and hang curtains as high as possible.

   
   

3. A Discreet Media Station

   
   Image Source: Thomas J. Story/Sunset Publishing Corp

   Take advantage of precious wall space by creating a media station that is discreet and beautiful. Jessica suggests thinking outside of the gallery wall box by incorporating gorgeous baskets instead of framed art to distract from the floating TV screen. Keeping baskets in the same colour family is Jessica’s trick for achieving a clean and uncluttered vibe.

4. Stylish Storage

   Image Source: Thomas J. Story/Sunset Publishing Corp

   While Jessica wanted to keep the colour minimal, she used an accent colour throughout the house for fluidity. In this case, a custom-built cabinet in navy ties in with the sofa pillows and kitchen, but it also conceals clutter behind cabinets and displays beautiful objects on shelves.

    

    

5. A Mini Breakfast Nook
   
   

   Image Source: Thomas J. Story/Sunset Publishing Corp

   Just because you have a small kitchen doesn’t mean you can’t eat in it. Jessica loves the idea of pushing a narrow console against a wall and adding bar stools for a makeshift dining nook.

6. Open Shelves
   Image Source: Thomas J. Story/Sunset Publishing Corp

   Eliminating upper cabinets can visually expand a small kitchen. Jessica leveraged the brightening power of counter-to-ceiling white subway tiles paired with white floating shelves for an airy and undeniably stylish effect. If a remodel isn’t in the works, Jessica suggests painting cabinets and installing new hardware for a customised look.

    

7. Plug-In Sconces
   
   

   Image Source: Thomas J. Story/Sunset Publishing Corp

   If spacious nightstands aren’t in the cards, swap in petite side tables and free up table space by installing plug-in sconces that don’t require expensive or permanent electrical work.

    

    

8. A Calm Colour Palette
   

   Image Source: Thomas J. Story/Sunset Publishing Corp

   Like the living room, the bedroom also follows suit with a calming colour palette. Jessica chose a single tone and explored a range of shades on the walls, bedding, rug, and accent decor.

9. Statement Art
   

   Image Source: Thomas J. Story/Sunset Publishing Corp

   Small bedrooms don’t necessarily require diminutive art. In fact, Jessica recommends doing the exact opposite by hanging large baskets, textural pieces, vintage finds from travels, and oversize prints to really make a statement.

10. Well-Utilised Corners

    Image Source: Thomas J. Story/Sunset Publishing Corp

    To make a big design impact in a corner of the room, mix pieces with varying textures. Jessica especially likes the way the leather wall object, wicker chair, and fur throw create a cosy effect that feels curated.

11. A Modern Murphy Bed

    Image Source: Thomas J. Story/Sunset Publishing Corp

    A murphy bed can be the perfect solution for children’s rooms that require space to play or a guest room that can double as an office. Jessica likes the idea of hanging something dramatic but soft above the bed, like the woven wall art. The texture adds interest but won’t break or budge when the bed is closed.

12. Customised Closets

    Image Source: Thomas J. Story/Sunset Publishing Corp

    Katy Milton of California Closets designed the built-in cabinetry to make the most out of a tiny closet. Jessica recommends adding baskets and bins to cleverly conceal clutter while keeping things in order.

     

13. Multitasking Work Space

    

    Image Source: Thomas J. Story/Sunset Publishing Corp

    Multifunctional pieces like a small desk, which can be used as an extra table surface for displaying decor, doing homework, and being creative, are one of Jessica’s favourite small-room staples. If you have multiple pieces of children’s art or a group of family photos without the space to hang them, consider investing in the Meural. It’s a digital canvas that gives you instant access to over 30,000 works of art, but which also allows you to upload your child’s drawings and rotate between images.

14. Wall Storage

    Image Source: Thomas J. Story/Sunset Publishing Corp

    Jessica believes shelving can double as eye candy when you mix in your favorite artwork and accessories.

     

     

15. Minimal Accessories

    Image Source: Thomas J. Story/Sunset Publishing Corp

    Create the illusion of more square footage by selecting the right colour palette and working in some cosmetic details. Jessica likes to use large mirrors and extra layers of lighting with sconces to make the space appear larger. Keeping the space clutter-free and minimally accessorised is another tricks she recommends for small bathrooms.

16. Small-Scale Patio Furniture

    

 

 

 

 

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via reiwa.com.au

First home buyers are active in Perth’s property market, with data for the March 2018 quarter revealing an increase in sales for properties priced $500,000 and below.

REIWA President Hayden Groves said after observing subdued first home buyer activity during the December 2017 quarter, it was pleasing to see the lower end of the market strengthen early in 2018.

“The final quarter of 2017 saw the composition of the Perth market shift. Last quarter there were significantly more sales in the higher priced end of the market and less in the first home buyer price range. It’s been a different story this quarter, with the balance of sales shifting back to the lower end of the market,” Mr Groves said.

Median house and unit price

Perth’s preliminary median house price is $510,000 for the March 2018 quarter.

Mr Groves said once all sales settle, this figure was expected to increase to $517,000, which would put the March 2018 quarter median marginally lower (by 0.6 per cent) than the December 2017 quarter.

“Although Perth’s median house price experienced a minor adjustment during the March 2018 quarter, the median house price is up 0.4 per cent when compared to the same time last year, which shows prices are stable,” Mr Groves said.

Perth’s preliminary median unit price is $401,000 for the March 2018 quarter.

“This is expected to lift to $410,000 once all sales settle, which would put it equal with the December quarter median.

“These results are in line with REIWA’s 2018 forecast, which expects stable conditions throughout the remainder of this year, with moderate price growth during the next 12 months,” Mr Groves said.

Sales activity

Preliminary Landgate data shows there were 5,865 dwelling sales during the March 2018 quarter.

“We expect around 6,603 sales for the quarter overall, which is marginally lower than volumes recorded during the December quarter,” Mr Groves said.

There was a 5.7 per cent increase in house sales in the sub-$500,000 price range during the March 2018 quarter.

“Increased activity in the lower end of the market is usually a sign first home buyers are active. We are fortunate the dream of home ownership is more attainable for West Australians than it is on the east coast. After seeing activity drop off last quarter, it’s good to see first home buyers are increasing their presence in the market,” Mr Groves said.

Listings for sale

There were 14,413 properties for sale in Perth at the end of the March 2018 quarter.

Mr Groves said listings had increased 10.2 per cent over the quarter, but were down 2.9 per cent when compared to the March 2017 quarter.

“While it is pleasing listings have declined on an annual basis, the increase over the quarter is not cause for alarm. With overall sentiment in WA improving and all signs indicating the market has begun to turn, sellers are feeling more confident than they have been and therefore more inclined to put their property up for sale.

“We’ve also seen a sharp decline in rental listings over the past year which has had a flow-on effect to the established market. With some investors choosing to sell their rental property instead of lease it, this has contributed to the rise in the number of properties for sale in Perth,” Mr Groves said.

Average selling days

It took 67 days on average to sell a house in Perth during the March 2018 quarter.

Mr Groves said although average selling days increased over the quarter, it was still two days quicker to sell than it was during the March 2017 quarter.

“With more listings on the market, buyers now have more choice, which has had an impact on the time it takes to sell. It’s very encouraging though, that on an annual basis, we’re seeing average selling days decrease,” Mr Groves said.

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via popsugar.com.au

Image Source: A Beautiful Mess

 

Have you ever come home from a long day of work, stepped through your door, and noticed that your home smells a little musty? Between lingering food smells from the kitchen, damp towels in the bathroom, and other day-to-day activities, there are lots of things that contribute to your home smelling a little less than fresh. It happens to the best of us, but luckily it’s an easy fix! DIY air fresheners, houseplants aplenty, and some essential cleaning tips are some of our favourite ways to get a fresh home that smells amazing.

Burn a Candle

Image Source: Francois et Moi

 

DIY an Essential Oil Diffuser

Image Source: A Beautiful Mess

 

Deep-Clean Your Bathroom

Image Source: Studio McGee

 

Get an Air Purifier

Image Source: Love Grows Wild

 

Make a DIY Air Freshener

Image Source: A Beautiful Mess

 

Bake Some Bread

Image Source: Damn Delicious

 

Rid Your Kitchen of Grease

Image Source: A Beautiful Mess

 

Create Lavender Sachets

Image Source: House*Tweaking

 

Simmer Your Favourite Scents

Image Source: POPSUGAR Photography / Anna Monette Roberts

 

Use Houseplants

Image Source: Sarah Hearts

 

Make Dryer Balls

Image Source: POPSUGAR Photography

 

 

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via reiwa.com.au

With steady rents, declining listings, improved leasing figures and faster leasing times, data for the March 2018 quarter reveals Perth’s rental market is leading the charge in Perth’s property market recovery.

REIWA President Hayden Groves said the first quarter of 2018 showed Perth’s rental market had strengthened, with improvements recorded across all key indicators.

“Perth’s rental market appears to be building on the momentum of the latter half of 2017, which is very encouraging – not just for the rental market, but also for the overall property market. Historically, the sales market follows the rental market during a recovery,” Mr Groves said.

Median rent prices

Perth’s overall median rent price is $350 per week for the March 2018 quarter.

Mr Groves said this was the twelfth straight month of stable rent prices, with no changes recorded since April 2017.

“All sub-regions experienced stable median prices except for the South West sub-region, which saw its overall median rent price increase $10 to $330 per week during the quarter,” Mr Groves said.

reiwa.com data shows there was a $5 per week increase to both the median house and median unit rent during the March 2018 quarter.

“The median house rent increased to $360 per week, while the median unit rent increased to $325 per week,” Mr Groves said.

“It bodes well for landlords that the house and unit median rents are improving simultaneously.”

Leasing activity

There were 14,112 rental properties leased in Perth during the March 2018 quarter.

“Leasing volumes for the March 2018 quarter are up 4.2 per cent compared to the December 2017 quarter,” Mr Groves said.

“Four out of the five sub-regions saw an improvement in leasing volumes, with the Central sub-region (up 7.7 per cent) and North East sub-region (up 6.1 per cent) the stand-outs.”

At a suburb level, reiwa.com data shows East Cannington, St James, North Fremantle, Ellenbrook and Booragoon saw the biggest growth in leasing activity levels over the quarter.

Listings for rent

Rental listings declined 4.5 per cent during the quarter, with 8,508 listings recorded at the end of March 2018.

Mr Groves said there had been a substantial reduction in the number of rental properties available in Perth over the last 12 months.

“Compared to the March 2017 quarter, listings for rent are now 18.6 per cent lower than they were at the same time last year. This can be attributed to an increase in population growth to the state and fewer new dwelling commencements occurring in the metro area,” Mr Groves said.

Average leasing time

It was two days faster to lease a property during the March 2018 quarter than it was during the December 2017 quarter.

“It took 47 days on average for landlords to find a tenant during the March quarter, which is two days faster than the December quarter and three days faster than the March 2017 quarter,” Mr Groves said.

“With stock levels declining and leasing activity increasing, the Perth rental market is finally starting to re-balance. For tenants, now is a good time to secure a longer-term lease before rents rise.”

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via therealestateconversation.com.au

In an ideal world, property developers should have a graceful exit from each project, whether they are selling or holding the properties.

Of course, life is rarely graceful, and many newbies fail to even consider the end at the start. This is important as there are a number of exit strategies that you must consider long before you begin any development.

Exits plans aplenty
The first exit is when you transition out of a construction loan, which is when you’re moving from a high interest loan to a more affordable one. Clearly you must be financial enough to still qualify for the new loan – even though it’s cheaper. The thing is the goalposts could have changed dramatically in the length of time it has taken for the project to complete and many a novice has come unstuck because their numbers no longer stacked up in the bank’s eyes. Another exit strategy is out of a joint venture, which I’ll explain in more detail below.

The next strategy, which is also the easiest but not necessarily the best, is selling up and moving on. In my experience, joint ventures (JVs) are a great way to develop property but everyone must agree on what happens at the end. My preference with JVs is to both sell or hold instead of buying the other party out. The reason for that is that you don’t want any recriminations in the future, say, if the property you buy off your JV partner increases in value spectacularly, especially where family or friends are involved. Soon, the green-eyed monster will rear its ugly head, and your former JV partner might even accuse you of short changing them.

I had a situation once where I had the opportunity to buy my JV partner’s property but it made me feel uneasy because I knew that it would likely increase in value significantly in the years ahead and I didn’t want any bad blood between us. We ended up selling & splitting the profits.  It’s not all about money.

Even though that waterfront property is now worth about $1 million, I believe I made the right decision because we mix in the same circles so there was never any finger pointing later down the track. So with joint ventures, my recommendation is that both parties agree to either hold or sell to keep everything simple.

The biggest mistakes
The biggest mistake with exit strategies is not having one at all!

The next one is selling prematurely or holding for too long thinking the market will shift, without taking into consideration holding costs.

The best exit strategy is the one that suits your own unique situation, but sometimes making a smaller profit by selling and moving on is better because of the reduced holding costs as well as opportunity costs, too. My exit strategies have been a mix of selling and holding and even though I’m not afraid to sell I usually regret it when the values go up!

One I don’t regret, however, is the property I sold to pay for my father-in-law’s medical bills because he got very sick here and he was here only on a tourist visa. He had no insurance so each day in intensive care was $4,500 plus myriad other medical costs. I sold that property for $340,000 but today it’s worth about $650,000.

Financially and personally it was the best and easiest thing for me to do to fund his medical treatment and it also an important point.  At the end of the day, property investment and property development is all about improving your financial position and being in a better situation when the chips are down.

Too much too soon
Another major mistake is newbie developers using the profits from their first projects leasing flashy cars to show off their newfound “wealth”. While that’s just silly if you ask me, that lease also kills their borrowing capacity which impacts them financially for any future developments. I have 20 years of investing and developing experience under my belt, but I have never undertaken a large multi-unit development or housing subdivision.

I could if I wanted to but I’d rather be a big fish in a small pond than a small fish in a big pond. That’s because if things go wrong, there are more potential buyers for the project. If you’re a small fish in a big pond and things go wrong, you’ll likely be eaten by the top-end of town and there’s nothing graceful about that!

One of the most common stumbling blocks for new developers is their egos get in the way. As soon as they start supposedly making “big money”, they splash it out on fast cars and various other things that aren’t overly helpful to their future success.  Often these cars are on leases, which, of course dramatically reduces their borrowing capacity. And that’s because they’re not mentally ready for the money.

If I look back at many of the mistakes in my life, I can drill it down to three simple things: greed, ego, or plain old stupidity. Some of those you can do something about but you have to be honest with yourself to do so.

Property development can be a vehicle to vastly improve your wealth, but you have to take your time to learn the ropes – and be prepared to learn plenty about yourself along the road, too.

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via houzz.com.au

Which trends from the eighties are worth a second chance, and which ones should you forget about?

Thought 1980s interior trends were destined to stay in the past forever? You might be surprised to see how many of the interior fashions of that decade are popping up again in our homes now – albeit in very different ways.

 Ditch frills for refined florals
Pattern went to town in the 1980s, and in turn took city dwellers away to the countryside. No bed was complete without a pillow and bedspread adorned with florals – and of course a frilly edge and valance in an accent colour. Alas, the twee pastoral look was sadly chucked out with the chintz in the 1990s to make way for a plainer aesthetic.

But florals are back, and this time the look is more sophisticated. Take this gorgeous sleep space, for example. The pattern has been used sparingly on the bedhead and cushion, and tones with the plain surfaces elsewhere. The effect is pared back, elegant and a far cry from the Little House on the Prairie look of the ’80s.

Play with pastels
Nothing sums up the ’80s love of pastels more than the dapper outfits adorned by the stars of Miami Vice. Who can forget the lilac and pink t-shirts that Crocket and Tubbs wore under their laid-back cotton suits? And our homes were resplendent in pastel shades too – pale pinks, mauves, aquas, blues and yellows all vied for centre stage in 1980s interiors.

We’re loving pastels again, however, with aqua, peach and dusty pink seeing a recent revival. Contemporary pastels are muted and look great with soft shades of grey, while peach works well with copper accessories. The key is to choose just one pastel shade and tone it with more neutral hues, rather than going for an ’80s-style pastel extravaganza.

Go for a country kitchen – just not in orange
While 1980s florals aimed for a rustic ambience, so too did many of the decade’s kitchens. The farmhouse kitchen was a big look in the ’80s. Cook spaces packed out with wall-to-wall pine cabinets might look cosy, but the orange shade of wood could also put you off your microwave dinner.

We still love our country kitchens, but the look is completely different, mainly because of the paler, more stylish oak we opt for in favour of varnished pine. We can also experiment with other surfaces, mixing and matching for a more interesting look. The kitchen here has all the elements of a rustic design, but it has been given a twist. Wood is teamed with painted surfaces, while a concrete work surface adds an industrial edge.

 

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via popsugar.com.au

Image Source: A Beautiful Mess

 

When it comes to astrology, let’s admit it: who doesn’t love reading their monthly horoscope? Gaining insight into your future relating to your career, relationships, health, and beyond is not only intriguing and exciting, but often, it can be extremely accurate. So, when we heard about a mashup that existed between astrology, design, and colour theory, we had to know more.

This hybrid idealism, coined “colourstrology” by astrologist and numerologist Michele Bernhardt, is thoroughly mapped out in her book Colourstrology: What Your Birthday Colour Says About You. Michele has created a comprehensive chart of Pantone colours that are assigned to every single day of the year as well as one colour for each month. Using ruling planets, sun signs, and the influence of numbers and other important dates, Michele has determined which colour creates the highest benefit for each.

So locate your birthday month ahead, and read on as we break down your most beneficial colour as well as exciting ways you can incorporate it into your home space for an extra boost of positive energy.

January: Caramel

Image Source: Anthropologie

 

February: Sheer Lilac

Image Source: West Elm

 

March: Fair Aqua

Image Source: A Beautiful Mess

 

April: Cayenne

Image Source: Williams-Sonoma

 

May: Bud Green

Image Source: Anthropologie

 

June: Aspen Gold

Image Source: Designer Living

 

July: Coral Blush

Image Source: Wayfair

 

August: Sun Orange

Image Source: Wayfair

 

September: Baja Blue

Image Source: Grandin Road

 

October: Cerulean

Image Source: PB Teen

 

November: Claret Red

Image Source: Wisteria

 

December: Pagoda Blue

Image Source: Anthropologie

 

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REIWA President Hayden Groves via reiwa.com.au

Although housing affordability has improved in WA in recent times, it remains a legitimate concern for many West Australians.

A recent Housing Affordability Report by the Real Estate Institute of Australia and Adelaide Bank showed while affordability improved in WA on an annual basis in the December quarter 2017, it had declined when compared to the September quarter 2017.

It’s concerning that despite favourable buying conditions and record low interest rates, housing affordability remains such a pertinent worry for many West Australians.

State property taxes are a barrier

REIWA is a strong advocator for addressing housing affordability, and we firmly believe current state property tax arrangements significantly contribute to this problem.

When REIWA surveyed the WA public about this topic last year, respondents overwhelmingly told us that property taxes negatively impact their lives. This is a growing issue and we need to do something to address it.

Home ownership still attainable in WA

The good news is; WA remains one of the most affordable states in the country for housing. Particularly in comparison to east coast property markets like NSW, where the median house price is higher and first home buyers find it more difficult to enter the property market. Here in WA, home ownership is still very much attainable.

In fact, we have the highest proportion of first home buyers out of any state or territory in Australia, with the Housing Affordability Report revealing 34 per cent of all owner-occupier home loans in WA in the December 2017 quarter were to first home buyers.

Additionally, although the average home loan amount to WA first home buyers increased during the December 2017 quarter, it was still $50,000 more affordable than the average loan amount required in NSW. A considerable difference.

However, more needs to be done. While the McGowan Government continues to face a challenging fiscal environment, REIWA still believes an incremental reform of property taxes will encourage both owner occupation and investment.

The residential property market is a key contributor to state revenue, specifically through transfer duty – one of the most inefficient and ineffective taxes. In the long term, we would like to see the Government transition to a broad-based land tax instead of relying on transactional taxes for revenue.

All West Australians deserve to have access to affordable, accessible and appropriate housing stock.

We call on the McGowan Government to commit to conducting a state tax review to look at more sustainable ways of funding essential services that doesn’t impact so heavily on affordability.

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via domain.com.au

When was the last time you ventured to the very back of your bathroom cupboards? Here are some tips to declutter and organise this area to save you time (and money).

Photo by Dulux Paint

Whether you’ve been living in your home for 15 years or 15 weeks, a bathroom declutter will save you time getting ready in the morning. Plus, you’ll be surprised by how much accumulated clutter you can easily let go of, giving you much more open space.

1. Empty out

First, grab a rubbish bag for anything that needs to go directly into the bin. Ensure some wipes are nearby to clean the cupboards and drawers down once everything is out. Then create space on the floor or benchtop where you can sort things. I usually use the floor, as you can empty every single item out of the bathroom cupboards, drawers, shelves and off the vanity top and lay them out so you can see what you have.

While the cupboards are empty, take the opportunity to give them a wipe out, as bathroom cupboards often end up covered in product, dust and hair. No doubt you’ll find some lonely hair clips living at the back of the bathroom cupboard too.

Photo by Zeitgeist Photography

2. Dump expired products

Once you have everything on the floor, the next step is to throw out any expired products. In almost every bathroom there are products that have expired (sometimes ones that are decades old) that need to be thrown away. Grab your rubbish bag and you’ll be surprised how many items end up in it.

Remember that you put these products on your skin, hair and nails, and you don’t want to absorb out-of-date chemicals into your body. If you can’t remember when you purchased it, the chances are it’s time to discard.

This is also a good time to dispose of products that you keep thinking you’re going to use, but probably never will. Orange nail polish? Out. Purple eye shadow? Out. Self-waxing kits? Unless you’ve used them in the last six months, say bye bye.

Photo by Capital Closets

3. Categories and containers

My key organisational advice for bathroom cupboards is to use storage baskets inside the cupboards or drawers, so that you both contain categories and are able to access items quickly and easily. The following categories are common to almost every bathroom I’ve ever helped declutter and organise:

• Make-up
• Hair products
• Sunscreen
• Tanning sprays and lotions
• Moisturiser
• Basic first aid
• Sanitary products
• Shaving
• Nail polish
• Eye care
• Medications
• Perfumes

I suggest using baskets with handles to make accessing things at the back of the cupboard easier. This way you don’t have dead space at the back where products fall out of sight and out of mind. Use either a black marker or label maker to label the containers, so you can quickly and easily see what is there. You can then put things away quickly, without having to pull each basket out first.

One added advantage of having products stored like-with-like is that when you want to paint your nails, for example, instead of rummaging through a drawer trying to find the polish, file and top coat you can quickly and easily grab the basket where everything is kept.

Photo by MasterBrand Cabinets, Inc.

If you have a large make-up collection, it’s even more helpful to further categorise the contents into different types of products. You might like to have smaller containers, keeping lip colours, eye products, foundations and blushes separate. This will also help you know what products you have, and will save you money. When you run out of one eye liner, you can quickly and easily find another one that you already own instead of buying a replacement.

Photo by Dettling-Architekten

4. Use it

Now that you know what you have, a useful tip is to use the products you already own rather than buying new products. Use the sunscreen you have before you buy any extra. Finish the hand cream you have before you trying a new product. Rediscover lipstick colours you forgot you owned. Your wallet will thank you for it.

You may also rediscover forgotten products that inspire you; think massage oil, a pedicure set, bubble bath or hair treatments. Take some time out one night to pamper yourself a little bit… it can be your reward for doing a great job of decluttering your bathroom cupboards.

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via domain.com.au

In Australia’s perpetually crowded rental market, the odds of securing any sort of home – let alone one that ticks all your boxes – can seem daunting.

Fast-increasing prices and the advent of so-called “rental bidding” further complicate the picture. And during the summer months, fluctuations in stock can create wildly variable conditions from week to week.

But there is reason to be optimistic. Despite perceptions that the rental market is somehow rigged – particularly in large cities such as Sydney and Melbourne – agents and advocates say that ordinary Aussies stand a good chance of renting in 2018.

Consider house-hunting in early January when there is less competition. Photo: Edwina Pickles

If you understand what landlords are looking for, are willing to take care during the application process and choose the most appropriate month to search, you might be surprised by what you can secure.

1. Always write a cover letter

Few agents ask for one, but including a cover letter with your application can dramatically improve your chances of securing a rental.

Crucially, a one-page cover letter can find its way to the landlord, who is almost never present at inspections but has final say over who is granted the lease.Making a personal connection with the landlord through a cover letter can be very valuable.

Make sure you have all your documentation ready before the inspection. Photo: Pat Scala

“Make it a good story,” says Eileen Carroll, sales director of Ray White Glebe. “Tell us why you’re the best person for the property. A little story about yourself will help your cause.”

2. Gather everything you’ll need – and then some

While some agents do not require additional documentation such as proof of ID and written references to be supplied at the time of application, Carroll says prospective tenants should submit these documents anyway.

“Have it all ready, so if you are accepted, you can actually secure the property,” she says. “If I’m chasing people for these documents before they’ve even signed the tenancy, alarm bells start to ring.”

Agents may move on to the next applicant if you don’t have your deposit ready. Photo: Dan Soderstrom

Providing ample references and other documents from the outset can also give you an advantage over less organised applicants.

“If someone submits an application with just a payslip from a month ago and a passport, it’s not really that interesting to me,” Carroll says. “But if the application has a covering letter, two current payslips, a personal or work reference and they’ve completed their 100 points of ID, I’m impressed.”

3. Apply online if you can

Scanning your hard-copy documents and completing an online application form may be irksome and time-consuming, but for agents it’s a godsend.

Even if a property is popular, don’t be tempted to pay more than the advertised price. Photo: Eddie Jim

“I had eight properties open two weeks ago and I leased all of them,” explains Carroll, “so the paperwork was miles long. Online applications make my life easier.”

Most online application forms also include a section for additional comments, so make sure you use it. “The standard form we use actually asks applicants to explain why they like the property in question, and I find that really helpful,” Carroll says. “It’s the first thing I go to now in the application because it gives me a better indication of who we’re dealing with.”

4. Think carefully before offering more than the listed price

Australia’s chronic shortage of inner-city housing has led to an increase in so-called “rental bidding”: offering more than the asking price in order to beat out the competition.

Leo Patterson Ross, advocacy and research officer at the Tenants Union of New South Wales, concedes that this strategy can be effective for those who can afford it. But he cautions that rental bidding can set a dangerous precedent.

“It’s pushing up prices not only for others but for yourself,” he says. By indicating a willingness to pay more than advertised, tenants may increase the likelihood of further rent rises in future, which could ultimately make the property unaffordable.

5. Be ready to pay your deposit

Having your application approved does not guarantee that the agent will hold the property for you. “If I call someone in the morning, tell them their application has been approved and ask for their deposit, and they say, ‘Oh, I’ll pay it later this afternoon’, I automatically go to the next application,” says Carroll.

“If they’re going to pay it later that afternoon, that tells me they’re waiting on the outcome of another application or they can’t afford my property.”

Carroll says delaying payment of your deposit by even a few hours can be risky. “I don’t want to lose my other applicants waiting for a deposit to be paid. Waiting a day for the deposit could mean my other applicants have moved on to other properties.”

6. Choose the most suitable month to apply

Unlike most of the year, when the number of properties on the Australian rental market is relatively stable, the months of January, February and March vary wildly in terms of volume.

According to Domain data, rental listings are at their lowest levels between late December and late January, when much of the country is on holiday. But some rental properties are open for inspection during this time.

Carroll says house-hunting in quiet early January can mean less competition and a better chance of striking up a relationship with a rental agent.

If you’d like to maximise your options, wait until late January or early February, when many landlords return from holidays. But remember that university students house-hunt during this time, increasing competition in less expensive suburbs.

If you can afford to wait until March, you’ll find the market returning to normal levels – and there may be an opportunity to pick up a bargain rental that didn’t lease during the February rush.

7. Don’t despair if you are young or haven’t rented before

Many prospective tenants assume that age and wealth trump all other considerations in the eyes of agents and landlords. But the truth is more nuanced.

“Real estate agents and landlords are ultimately trying to assess risk when choosing applicants,” says Patterson Ross. “The factors they are mainly considering are the ability to pay the rent, and the likelihood of damage occurring to the property.”

“A previous rental history is part of demonstrating that you represent a lower risk, but you can do this in other ways as well – most likely character references from employers or other people who can talk about things like your responsibility, cleanliness and so on.”

Carroll says she has rented properties to people without employment who could demonstrate significant savings, and to others who had less money than their competition. “For me, it’s ultimately about whether the application stands out or not,” she says.

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via popsugar.com.au

Image Source: Woods & Warner

Sleep is important. Like, really important. It contributes to your physical and mental health, happiness and all-round well-being. Step one of getting it right, is creating a space that relaxes and lulls you to sleep, rather than triggering or reminding you of all your to-dos and stresses.

Before you figure out what should be in your snooze palace (yep, that’s what we’re calling it now), it’s good to know what should definitely not be making an appearance behind the palace doors. So we asked interior designers, a lighting scientist and a sleep brand founder (who knows a thing of two about getting a good night’s sleep) to lend their expertise. Heed their advice and nights of perfect rest are all yours. And yes, you will totally feel like a princess. Princess Snooze.

1. Pets

Research shows that 30 percent of pet owners who share their beds report waking up at least once a night because of their furry loved ones. If you want a night of wondrous, uninterrupted sleep, the pooch has to sleep in his own room.

2. Food

“Avoid eating in your bedroom as it sends the wrong signals to your brain,” says Shea Morrison, co-founder of The Goodnight Co.

3. Any work

“Leave your work out of the bedroom, lying in bed processing your work will more likely make you nervous or agitated, or fill your mind with things you’ll need to do in the morning rather than letting you wind down,” says Shea, and interior designer Melita Mayvn of Mayvn Interiors agrees. “Don’t have your office in your bedroom,” she says, “Your bedroom is your sanctuary, not a working space.”

4. Phones and all other electronic devices

After significant research, we now know that staring at the blue and white light emitted from digital screens prevents your brain from releasing the melatonin, which is exactly what you need to for your body to feel sleepy. Without it it’s hard to fall, and stay, asleep. Plus, receiving notifications can be disruptive (especially if you don’t keep your phone on silent).

5. Blue and white light

Other than the sleep-zapping blue and white light that comes from our screens, eliminate all cool white and blue light. “Shades of white light have different impacts on our circadian rhythms,” says Dr Luc Schlangen, scientist and Philips lighting research expert. “Exposure to cool, blue white light suppresses melatonin, and hence makes us feel more alert and awake. That’s why offices, gyms and operating theatres use this shade of white light, whereas exposure to warm yellowish white light increases melatonin levels, and is used in places of relaxation like our living rooms and bedrooms, and also bars, restaurants, and hotels.” Ensure the light bulbs in your bedroom are warm, soft and ideally, adjustable. Try out a Smart Bulb like Philips Hue, $29.88.

6. Bold feature walls

Interior designers Sonia Warner and Jacinta Woods of Woods & Warner say the single painted feature wall is a thing of the past (that they hope never comes back). “Be brave and paint or wallpaper the whole room . . . it will feel more connected and sophisticated.” Not to mention more relaxing, which is exactly why Melita says to steer clear of red, orange or hot pink in the bedroom, “Your bedroom should be soothing and relaxing rather than vibrant and busy.”

7. Oversized furniture

Over crowding your sleep space is a sure way to make yourself restless. Melita warns against furniture that’s too big for your space, “This will make your bedroom feel smaller and cramped.” While Sarah Cichy, director of Piccolo PR says over accessorising or mixing too many patterns will also make things feel cramped. “It’s hard to relax with too much clutter, so keep things open. Select a signature piece and then use a mix of quieter neutrals for the remaining furniture so that the space feels light and open.”

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Hayden Groves via therealestateconversation.com.au

The REIWA has come out in support of the WA state government’s plans to improve housing affordability by increasing housing diversity and density.

The Real Estate Institute of Western Australia supports a State Government plan to improve housing diversity and density to boost housing affordability.

REIWA President Hayden Groves said housing affordability remains one of the more challenging issues affecting West Australians.

“REIWA believes that access to secure and appropriate housing is essential to the success of communities and the prosperity of our state.

“REIWA is committed to ensuring everyone wins in property and will work alongside the WA Government to ensure the Affordable Housing Action Plan makes a positive impact to the lives of West Australians,” Mr Groves said.

Minister for Housing; Veterans Issues; Youth, Peter Tinley outlined the strategic plan this week, which promotes a ‘connected city’ by ensuring the needs of our diverse population are met.

“REIWA would like to congratulate Minister Tinley and the WA Government on this initiative that will promote a connected, sustainable and accessible property market into the future,” Mr Groves said.

The McGowan Government aims to deliver affordable homes as part of its METRONET vision and is currently developing its Affordable Housing Action Plan for release in mid-2018.

REIWA will work alongside the Government during the development of the action plan which focuses on:

• Connection between people, place and home;
• Real and enduring affordability for those on low-to-moderate incomes;
• Earlier and more connected housing and support services;
• Creation of diverse precincts that will include options for low-income earners; and,
• Diversity of options to meet diversity of need.

REIWA sits on the METRONET industry board and will work closely to advocate the delivery of affordable housing stock and the creation of METROHUBS.

REIWA will continue to actively support Government in ensuring all Western Australian’s have access to affordable housing through collaboration with the private sector.

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via popsugar.com.au

There’s an art to living thoughtfully in cramped quarters, but there’s a science to choosing pieces that will make the most of your square footage. These decorative essentials seem to pop up in the most stylish small spaces again and again. So tell us, are these space-saving pieces in your home?

Source: A Beautiful Mess

Nesting Tables

Image Source: Decor Fix

Poufs

Image Source: House*Tweaking

Floating Shelves

Image Source: Little Green Notebook

 

Large Mirrors

Image Source: Love Grows Wild

If you can’t knock down walls, add mirrors. They have the power to reflect light and visually expand a room, so it looks much larger than it actually is.

Pro tip: try styling a large mirror (like the one in Jillian Harris’s home) by layering it behind another piece of furniture.

Hanging Storage

Image Source: SF Girl by Bay

 

Baskets

Image Source: A Beautiful Mess

 

Rolling Carts

Image Source: A Beautiful Mess

 

Pretty Boxes

Source: Manuel Rodriguez for One Kings Lane

The key to making any bookshelf look immaculately streamlined is to load it with beautiful boxes. It’s the perfect way to hoard anything from receipts to your washi tape collection without having your belongings look like a mess.

Under-the-Bed Storage

Image Source: Tony Vu for One Kings Lane

Hanging Coatracks

Image Source: iStock

 

Stackable Storage

Image Source: West Elm

 

Slim Hangers

Source: Justin Coit for Domaine Home

Former-reality-star-turned-fashion-designer Whitney Port uses these slim hangers to pack in as many clothes as possible in her cute closet space.

 

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Author: REIWA President Hayden Groves via reiwa.com.au

Although rent prices across the state have been on a downward trajectory for the last couple of years, the rate of decline has slowed with the median rent price holding steady at $350 per week since April last year.

The number of rental properties on the market has also improved, declining to approximately 8,500 listings metro wide, well down from the peak of 11,300 in 2016.

While Perth landlords don’t enjoy the dominance they experienced a few years ago, property investment is still a smart decision. And thankfully, interest rates on borrowings continue to sit at historically low levels, mitigating some of the short term financial discomfort resulting from lower rent prices.

Get your asking price right from the start

When pricing your property and preparing it for lease, it’s crucial you heed the advice of your REIWA property manager. Tenants are out there in good numbers, in fact, leasing activity reached an all-time high last year and remains at above-average levels in 2018.

Provided your rental property is marketed competitively, you have a very good chance of securing a tenant. However, if you choose to price your property higher than your agent’s recommendations, tenants are very likely to bypass your listing.

The first two weeks of listing your property for rent are the most crucial. Get your initial asking price wrong and you can end up chasing down the market, destined to end up with a weekly rent price below market value, plus you’ll bear the rent cost you missed out on when your property was vacant.

Forecast looks positive for landlords

Pleasingly for landlords, the Perth rental market has improved over the last six months and we are slowly seeing it transition into a more balanced market.

The Perth vacancy rate declined to 5.3 per cent in January – the lowest level since July 2015 and down from a peak of 7.2 per cent in June 2017. This sharp decline indicates that normalcy is returning and market parity, in terms of supply and demand, is not far away.

Despite these obvious improvements, REIWA’s forecast for 2018 cautions against expectations of rapid growth in rent prices over the coming year. Property owners are still advised to meet the market – you are better off with less rent per week than having a long vacancy period with no rental income at all.

It is also advisable to be flexible with the conditions you put on your rental. For example, not allowing tenants who own a pet to rent your property can deter people who would otherwise be interested. It’s in your best interest to consider tenants with pets on a case-by-case basis, secure in the knowledge the bond, pet bond and landlord insurance will be there to cover any pet-related damage.

For obligation free landlord assistance Sarah Morgan 9475 9622

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