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Property Types
Getting to know the real estate market is the first step to investing. Having
deep knowledge of the property types and the current state of the local
estate market can aid both homeowners and real estate investors on their
journey to acquiring their goals.
Residential Property Types
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Valuation and appraisal are two terms which are often being mistaken as
interchangeable. Yet, behind their meaning hide a series of factors which can
indirectly affect a housing deal.
Appraisals are property price estimates, usually conducted by a real estate
agent. The appraisal is based on knowledge and experience of the local real
estate. Appraisals are done free of charge and have no legal standing. When
requested by potential vendors, appraisals tend to be overstated. Home
appraisals can also be done with the help of free, online tools6 which can
help a homeowner get familiar with the local property prices and therefore,
put an orienting price on his house accordingly.
Valuation is a formal, systematic process which determines the actual value
the property from an independent point of view. It is a complex combination
of research and real estate knowledge and in most Australian states,
valuations have to be conducted only by a qualified valuer. Property
valuation may have a legal standing and be used when obtaining a loan for
property purchase, drawdown or refinancing.
Property valuations are affected by a number of factors regarding the overall
state of the property, its location and features:
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Physical location
Local Council Zoning
Accessibility ( by vehicles, pedestrians or nearby off-street parking )
Building Layout
Structure, condition and possible faults
Planning restrictions
Encumbrances or caveats
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Sights & Views: Most high-end properties on the real estate market feature
a number of amenities which add to its overall value. The proximity of the
residence to nature sights along with impressive balcony views of both
natural and urban landscapes can raise the end price significantly. This factor
counts mainly for the residential market and attracts customers willing to
top the original price in order to, say, wake up by the flickering sun rays
refracted in the ocean. The prices of such properties are usually higher than
others, yet they present a great investment option for future resell with high
profitability, due to increased interest of connoisseurs and foreigners. There
is a number of nature landscapes and sights which could add to your
property s sell p i e a o di g to the u e 's taste.
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Beaches
Parks
Lakes
Camp sites
Picnic spots
Playgrounds
Cafes
Restaurants
Venues
Night Clubs
Bars / Pubs
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PD - Police Department
Australian Institute of Criminology - http://www.aic.gov.au/
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Indoor Indicators
Pests: You e spotted a o derful property ith e fur iture, pretty garde
and freshly-pai ted alls, a d hats ore - its way below the normal price
for the locality its in?
Experience tells us there are rarely Australian townhouses which feature low
cost, convenience and beauty. Due to the overpriced urban dwellings and
high demand, property owners sometimes choose to lower the estimate of
their property in order to make a quick sell. Yet, in most cases, the
discounted price speaks of a hidden problem, such as pest infestation. Pests
are sometimes the result of badly maintained buildings, but they can also
depend on the locality the property is built in.
Before purchasing a property, the investor needs to make a complete check
for the most common housing pests. The check can be done either by the
buyer or by a certified pest removal agency.
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Renting on AirBnb
What AirBnB has made possible over the years is an excellent opportunity
for open-minded travel lovers and homeowners to rent their housing out to
tourists. The trend which brings most profit to renters is offering a culturallyauthentic or uniquely designed residential space, preferably in proximity to
local sights and monuments.
Renting on AirBnB is a process which closely resembles hotel ownership.
Homes which get the most reviews on the website are usually the ones
which offer the benefits of locality, hospitality and housing comfort.
Despite the possible income uncertainty, this strategy holds many
advantages and opportunities for high profit for a small financial investment.
Adrianna Huester
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Adrianna Huester is a real estate whiz and marketing strategist who works
in the house removal sector. She works with companies in Australia,
helping them bound with their customers and provide quality services
tailo ed thei lie t s eeds. he is eage to sha e he k o ledge of the
great opportunities the Australian real estate market offers for property
investors and homeowners.
She currently works with Fantastic Removals Melbourne, a Victoria-based
company which delivers removal and cleaning services to homeowners,
tenants and property investors in the residential and commercial sector.
Website: http://www.fantasticremovalsmelbourne.com.au/