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Apr 14, 2023
Real estate agents revamping ethics index and standards
The Governance Institute of Australia produces a comprehensive study and nationwide survey to reveal the most and least ethical occupations, organisations and sectors. It also checks the nation’s temperature on current ethical dilemmas and difficult questions. The 2022 Ethics Index report has seen the ethic index score drop overall, with real estate agent’s bad reputations ranking low again. Regrettably, a lot of people dislike real estate agents. They have either had bad experiences, know someone who has, or have seen negative media reports. While real estate agents tend to have a bad rap and constantly attract negative headlines, quite often the hardworking, honest, and caring agents who strive to do the right thing by not only their clients, but communities as well, are overlooked. Many real estate agents are working to rewrite the ethics index and overturn the negativity that the industry seems to attract. Watch the video, with Joanne Danckwardt of One Agency JD Property Agents, to remind yourself about some of the amazing work that a great percentage of real estate agents do, going above and beyond. [siteloft_youtube video_id="utKAHWpDbAo" autoplay="1" suggestions="1"] If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist. YES, DOWNLOAD MY CHECKLIST With specialized knowledge and access to information and a connection to various services, good real estate agents have the potential to impact their communities in a very positive way. Being a respectful real estate agent means they have their finger on the pulse of the neighbourhoods where they sell. Some exception community service stories by real estate agents include: Saving a tenant’s life In Lismore, PRD Northern Rivers Principal Rob Horder, had his own battles to fight as flood waters gushed through his office, let along saving a tenant’s life. Taking a phone call from a community nurse, he learnt one of his tenants was unable to make his dialysis appointment due to floods. Rob put his own agenda aside, went around to pick the tenant up. He was put into a helicopter and taken to hospital for the lifesaving appointment all within half an hour of the tenant losing his life. What an awesome agent! Pink tractor fundraising In 2015, Mudgee real estate agent and auctioneer, Hugh Bateman, embarked on a pink tractor trek to raise funds for the McGrath Foundation Breast Cancer Care. Starting on October 9th for a little over three weeks, Hugh navigated his way around NSW, visiting other agencies and holding auctions and fundraising events. His goal was to raise $250,000 for the McGrath Foundation to assist with funding specialist Breast Care Nurses, but Hugh managed to surpass that goal, raising $382,000. A fantastic result for a worthy cause. Act of kindness With rental affordability being at the forefront of current economic times, Gold Coast Property Manager, Jamie Wernert, wondered how she could personally help one of her elderly tenants. When the landlord indicated they could no longer sustain the below market rent and Denis would have to move, Ms Wernert wanted to do something to help Denis, who lived on a tight pension. Establishing a GoFundMe page, she was able to raise over $47,000 for her pensioner tenant to find a new home along with reach out to other property managers to help find Denis a new home. The funds helped Denis to find a new rental and pay for his moving costs. A beautiful property manger who really does care for her tenants! The list of these amazing deeds of real estate agents goes on and on… But in their day-to-day workings for selling real estate and managing investment properties, real estate agents do a long list of regular everyday activities to ensure they provide exception service and get the best results. Some of the acts include: Tidy, clean and freshen before an open home or newly leased property – both inside and out, including cleaning of the pool. Accept calls at every hour of the day and night, 7 days a week, to get deals done. Work 14-hour + days to ensure their sellers find that perfect one-in-a-million buyer. Play with children and keep them entertained while parents look around a house. Manage the emotional stress when helping sellers and buyers in their home selling and buying journey. Support local sporting teams, schools, communities, and businesses. If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist. YES, DOWNLOAD MY CHECKLIST We hope this article provides some balance for the next time you hear bad press about real estate and real estate agents. There are many good agents out there that help to counteract the negative reputation that the industry holds. If you feel you could benefit from our experience with buying and selling, or our property management services, we’d love to hear from you. Simply reach out. We hope that has helped you today. If you have any questions, or you know of anyone who may benefit from our real estate services, we’d love to chat. Our number is 0426 264 771. We look forward to talking to you soon.
Dec 9, 2022
Benefits of downsizing your home
Does your family home seem a lot larger? Have all your children flown the coop? Are you looking to downsize for retirement? Downsizing your home can sound stressful! Don’t let the thought intimidate you, as it can be a beneficial process. Taking the opportunity to downsize is often the beginning of a new chapter. While it is a fresh start, downsizing has many benefits, and can be a very positive experience. Deciding to make the move can be hard. However, when you take the leap, you can see how beneficial it is to pack up. Watch the video as Joanne Danckwardt of One Agency JD Property Agents talks more about what downsizing is and the benefits of it. [siteloft_youtube video_id="Us2FEBjDUy4" autoplay="1" suggestions="1"] If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist. YES, DOWNLOAD MY CHECKLIST What is downsizing? Downsizing (or rightsizing your home) occurs when you move into a smaller home than what you currently live in. It is often a decision made by people whose children have left home, or people considering downsizing for retirement, or seniors needing to downsize who are struggling to deal with the upkeep and costs of their home. It can also simply be that some people are keen for a change, are looking to streamline their lift, want to move closer to friends or family, or just want to fresh start in life. Whilst many spend time trying to upsize throughout their home-buying journey, downsizing can offer so many benefits. Increase in cash flow It is likely that your current home will have increased in value. Buying a smaller and cheaper property will provide you with cash equity, giving you added money in the bank. Smaller properties are generally less expense in their upkeep in areas such as electricity and insurance, a saving on bills for your cash flow. Instead of putting all your hard-earned dollars to a mortgage and utilities bills, you can start to enjoy your money. Eliminate clutter Downsizing forces you to declutter. Moving to a smaller home will mean you will not able to accommodate everything you have in your bigger home. Possessions can be become baggage. Without a valid reason to declutter, your space can be quickly overtaken. Downsizing means you have to prioritise your possessions, allowing you to remove things from your life that no longer serve a purpose. More time Having a smaller home means you will spend less time on cleaning and mowing and maintaining gardens, meaning you have more time for you to spend on the things you enjoy. This gives you a new type of freedom to explore new hobbies such as golf, tennis, travel or read. Or it can allow you more free time to spend with family and friends, providing plenty of enjoyment. You can enjoy your home without being a slave to it! Lifestyle changes Downsizing will often trigger a lifestyle change. For example, instead of having to worry about gardens, if you have downsized to an apartment, leaving to travel becomes less of a hassle as the gardens are generally taken care of by strata. Downsizing to a retirement village opens up the possibilities of new friendships, activities and amenities. Downsizing your home can lead to a less stressful lifestyle. How we can help with your downsizing journey To enjoy the benefits of downsizing, you should consider whether a smaller home will serve you and complement your lifestyle. There is no benefit to downsizing to something smaller to save time and money if you are unhappy about losing a bedroom or living space. Once you have decided that a smaller home will suit your lifestyle and future goals, you can appreciate the benefits of downsizing, and enjoy a fresh start. Making the decision to move to something smaller can be made easy. At One Agency JD Property Agents, we are ready to help, so you can get the most out of downsizing. We offer experience and knowledge that will help you make the buying and selling process as seamless as possible. We will provide you with advice, guidance, and results. We can help build a plan with you to overcome any fear, talk with about if you should sell or buy first, achieve sales results for you, assist with finding your next property to buy, and provide you with a range of strategic tailored real estate advice. If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist. YES, DOWNLOAD MY CHECKLIST If you feel you could benefit from our experience with buying and selling, we’d love to hear from you. Simply reach out. We hope that has helped you today. If you have any questions, or you know of anyone who may benefit from our real estate services, we’d love to chat. Our number is 0426 264 771. We look forward to talking to you soon. Considering how you can Right Size your Home and perhaps move into Aged Care? Register for this short course and learn how to best right size your home when moving into aged care. If you have any family or friends that might benefit from real estate guidance, please feel free to pass on my details or share this link. I’d love to be able to help.
Jun 17, 2022
How to bid successfully at an auction
The property you love is going to auction! You’ve inspected it, done your due diligence, and have your finances in order. Auction day sees you energised and confident, and then you arrive to find a long line of bidders. What do you do now? At an auction, the property will be sold to the buyer who offers the last bid above the seller’s reserve price. To provide you with the best opportunity to be successful with your bidding on auction day, it is important to have a bidding strategy and be prepared. Learn more in the video, where Joanne Danckwardt of One Agency JD Property Agents provides tips on how to be the successful bidder on auction day and provides some strategies on how you can win that property at the auction. [siteloft_youtube video_id="qONcgi2rw9Y" autoplay="1" suggestions="1"] If you are looking for a property to buy, request to be added to our open home alert YES, ADD ME TO YOUR OPEN HOME ALERT Set a budget and stick to it Set a maximum price that you can afford to pay and stick to it. As much as you may fall in love with the property, and as close as you might think you are to winning the bidding, you never go beyond your predetermined budget. Aim slightly above round numbers. If you decide your budget is $750,000, then you may be able to go to $753,000, but it is a decision you need to make before you start to bid. Position Arrive early to choose the best vantage point, and determine how many bidders are registered. Ensure you in are in a good line of sight of the auctioneer. It is important that you be able to see them, and for them to be able to see you and know you are there. Having an ideal visual presence will allow you to also you to be able to see what is going on around you, so be in a position where you can see the crowd but also the auctioneer very clearly. When the auction starts, it is best to have a great position and make yourself heard. Ensure the auctioneer knows you’re a real contender in the sale and you’re there to win! Talk with the agent, and don’t be afraid to introduce yourself to the auctioneer prior to bidding. It is important that they know you are a serious bidder. The agent will be able to guide you through the process. Be the first bidder Pick up your paddle and show it to the auctioneer every time you bid, and be the first one to bid. Whilst this can be difficult, the auctioneer with love you for it, and will always come back to you to give you every opportunity with the home. Making yourself known with a strong opening bid can also shake up your competition and wipe some of them out early. Bid quickly Once someone else has offered above you, come back quickly and confidently. This will let others know that you are serious, and puts pressure on them. It doesn’t need to be a huge jump in price each time, but making a quick decision leaves other buyers feeling under siege. Momentum plays a big role in determining the outcome of an auction. Bid in increments that you want to bid in. The auctioneer may ask for bids of say $10,000, but you can offer them $5,000 or $13,000. Offering odd numbers can force the auctioneer and other bidders to slow down and rethink due to unexpected numbers. Be the highest bidder You must be the highest bidder when the auctioneer’s hammer comes down. The auctioneer will usually call the sale three times before the hammer comes down to indicate the sale if final. Calling the sale for the third time could mean that the property is above the seller’s reserve, so you need to be at that highest level in order for the property to be sold to you. If the property gets passed in, as the highest bidder, you will be the first person that the agent will negotiate with to try and sell after the auction. If you are looking for a property to buy, request to be added to our open home alert YES, ADD ME TO YOUR OPEN HOME ALERT I hope that helps with your buying journey. If you want to know a little more or gain some advice on how you can be the winner at your next buying auction, please get in contact with One Agency JD Property Agents in Fairy Meadow. We would love to talk to you and can be contacted on 0426 264 771. We are here to help.
May 19, 2022
Buying at auction? 3 tips to help you prepare
You’ve been looking at the real estate market, and you’ve found your dream home. And it’s going to auction! If you are prepared for the auction, it can be exciting, and if you succeed on the day, you will be walking away as a homeowner. When planning to bid at an auction, it is important to come prepared. In this video, Joanne Danckwardt of One Agency JD property provides three tips to help you prepare for the auction and ultimately achieve success on the day. [siteloft_youtube video_id="/n9LJiuClZWw" autoplay="1" suggestions="1"] If you are looking for a property to buy, request to be added to our open home alert YES, ADD ME TO YOUR OPEN HOME ALERT Pre-Approval To help you secure your new home purchase, prior to the auction day, ensure you have a home loan pre approval. This will put you in an ideal position to bid, as you will have your maximum limit established with your lender, and provide you with confidence. Most pre-approvals are only valid for around 90 days, so you should seek pre-approval when you are serious about buying. Don’t try to predict the market – if you are ready to buy, don’t delay. Ensure you have completed any pest and building inspections beforehand. If you are the successful bidder of the auction, the sale is final. There are no opportunities to complete these inspections afterwards, and you would rather know beforehand if the property has any concerns, or if the pest and building report is not perfect. You should also seek legal advice regarding the Contract of Sale and its Terms & Conditions. Deposit Ensure you have funds available for your deposit. If you are the successful bidder, you will need to pay a deposit on the day. This is usually 10% of the purchase price, but you can negotiate beforehand a lower amount of 5%. If you will be using a deposit bond, ensure that this has been negotiated and is acceptable to the seller before the auction. Registration If you are wanting to bid at a real estate auction in NSW, legislation requires that you must register your details, providing your name and photo identification to the auctioneer prior to the auction in order for bids to be accepted. You can do this in person on the day of the auction, or you can also pre-register with the agent beforehand. Upon registration you will receive a bidder’s card, which must be used throughout the auction. If you do have to register on the day, it is important to arrive at the auction a little bit early, to give yourself time to complete the registration process, prior to the auction. Double check that you have the date and time right. If you are looking for a property to buy, request to be added to our open home alert YES, ADD ME TO YOUR OPEN HOME ALERT I hope that helps with your planning on what you should be doing to prepare for an auction when planning on buying property. Keep an eye on our upcoming auctions and we welcome you to attend any of them. If you feel you could benefit from our experience with buying and selling, we’d love to hear from you. Simply reach out. If you have any questions, or you know of anyone who may benefit from our real estate services, we’d love to chat. Our number is 0426 264 771. We look forward to talking to you soon.
Jan 16, 2022
5 steps to secure your new home purchase
Finding your dream home or an ideal investment property is difficult at the best of times, but in a competitive and fast-paced market it can be harder. Missing out on buying a property because your finances aren't in order can be heart-breaking. Did you know there is a way for you to increase your chances when purchasing your dream property and being on the path to successful home ownership? If you are serious about buying property, we have five simple steps you can take now to help bump out rival buyers and secure your new home purchaser faster. Watch the video to learn some simple strategies of things you can do for your finances to prepare for a home loan and make sure you don’t miss out on that home and help you secure the property purchase. [siteloft_youtube video_id="/kR1ldkY7m9s" autoplay="1" suggestions="1"] If you are looking for a property to buy, request to be added to our open home alert YES, ADD ME TO YOUR OPEN HOME ALERT 1. Collate your important documentation and information Daily living expenses, income (eg: salary, dividends, rent, profit), assets and liabilities schedule such as cash savings, shares, vehicles etc and credit cards, loans and buy-now-pay-later accounts. 2. Consider the type of property you are looking to purchase What type of property would like to purchase – for example a detached house or a strata titled unit? What is the nature of the purchase – will it be for owner occupied or investment? What locations would you would consider? Do you have a preferred Illawarra suburb to buy in? What features and includes do you desire – for example, number of bedrooms, swimming pool, views, etc. Will the property be going to auction? And if so, how to you prepare to buy at auction? Once you have determined these factors, you will be well positioned to determine the likely market values of similar properties and other financial considerations, for example, potential new rent for an investment purchase, strata fees, council rates. 3. Review your credit report and score Your credit score is based on financial and personal information in your credit report. Lenders use your credit score to decide whether they will lend you money. Knowing your credit score can help us negotiate a better deal for you. The higher your credit score, the more chances a lender will offer you a home loan 4. Approach a mortgage professional With your above information collated, a mortgage broker or bank will be in a position to determine the likelihood of loan approval and be able to consider the best lender and product for your circumstances, as well as know of any APRA changes to home loans. 5. Obtain pre-approval Having selected a lender and appropriate loan product work with your mortgage broker or bank to obtain a pre-approval. Pre-approval for a home loan is not essential, but it can potentially be the make or break when securing your home loan as it will establish your financial position with your lender and indicates how much they are willing to lend to you. A pre-approval home loan is not binding and usually has conditions, but it can provide you with confidence before committing to a sale or bidding at auction. The pre-approval may also allow you to move more quickly as the lender has in effect already started considering your loan approval. This could put you ahead of your competitors who may not have started the process of obtaining finance. In an active market, some borrowers can face lengthy time delays with the processing of finance applications by some lenders. Most pre-approvals are only valid for around 90 days, so you should seek pre-approval when you are serious about buying. Don't try to predict the market - if you are ready to buy, don't delay. Following the above steps, having a pre-approval in place, and ensuring your deposit or deposit bond is ready is attractive to a motivated vendor and real estate agent and give you the edge over other potential buyers and help you secure your dream home or investment and help you to increase your chances of buying a home. It is important that you also know of all the costs involved with buying a property. If you are looking for a property to buy, request to be added to our open home alert YES, ADD ME TO YOUR OPEN HOME ALERT We hope that has helped you today with buying your next property. We encourage you to keep up to date with our current properties for sale and open homes as they are always changing. If you have any questions, we would love to talk to you and can be contacted on 02 4285 7400.
Nov 9, 2021
APRA changes to home loans explained
Banks have been given new borrowing rule which could have some impact on the real estate market. The regulator, Australian Prudential Regulation Authority, also known as APRA, has told lenders they need to ensure new mortgagees can cope with a three-percentage point rise in interest rates, as they commence reinforcement of changes to home loans in Australia. Watch the video to learn how this might have an impact on prices within the real estate market. [siteloft_youtube video_id="/kqm2rgcaCfE" autoplay="1" suggestions="1"] If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist. YES, DOWNLOAD MY CHECKLIST Mortgage interest rates may be near their lowest in history, but buyers applying for a new loan will have to ensure they are capable of paying a much higher rate when they inevitably rise in the future. The banking regulator, APRA, has told Australia’s lenders to increase the minimum interest rate buffer when assessing the serviceability of home loan applications. APRA expects banks to now assess all new borrowers’ ability to meet their loan repayments at an interest rate that is at least three percentage points above the loan product rate. This is to come into effect by 31st October 2021, and compares to a buffer of 2.5 percentage points that is commonly used at present. What do these changes mean? In simple terms, this means banks and lenders must not provide a home loan to a person until they are satisfied that they can still be able to afford the repayments on a rate that is 3.0 per cent higher than the current product's rate. For example, on a 1.99% home loan, a borrower would be assessed on their ability to repay the mortgage at a bank interest rate of 4.99% - the interest rate plus the new APRA buffer of 3.0%. Why have these changes been implemented? This increase in assessment rates has been designed to reinforce the stability of the financial system, ensuring that banks are lending to borrowers who can afford the level of debt being taking on – both today and into the future. It will effectively reduce the maximum borrowing capacity for the typical borrower by around 5 per cent. For example, someone who could borrow $1 million under the old buffer could now only borrow about $950,000. With buyers able to borrow less money, this could mean less money to spend on property, meaning as a sellers you will need to listen to the market when pricing your home to sell. Regulations to lending such as this are something to consider when trying to predict the market. Statistics show that one in five new loans approved in the June quarter were at more than six times the borrowers’ income. APRA believes that as the economy bounces back as lockdown restrictions begin to be lifted around the country, the balance of risks is such that stronger serviceability standards are warranted. Regulators will continue to closely monitor risks in residential mortgage lending and would take further steps if necessary. If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist. YES, DOWNLOAD MY CHECKLIST If you feel you could benefit from our experience with buying and selling, we’d love to hear from you. Simply reach out. We hope that has helped you today. If you have any questions, we’d love to talk to you. Our number is 0426 264 771. We look forward to talking to you soon.
Sep 21, 2021
Best Illawarra suburbs to buy in
Are you new to the Illawarra and not sure where to start when buying your new property? Or perhaps you are an Illawarra local selling your home and looking for the best Illawarra suburbs to buy in. Whatever the case, the Illawarra has many beautiful areas and emerging cultures, meaning everyone will like different suburbs for different reasons. All buyers are different with a variety of requirements for certain suburbs. They may like the utilities on offer such as schools, shops, churches, or beaches, or perhaps family and friends draw them to an area. Learn more in this video, where Joanne Danckwardt explains why she believes all Illawarra suburbs hold a strong position, offer great proximity to Sydney, and provide envious lifestyle opportunities. [siteloft_youtube video_id="/WJyTBAdzP5I" autoplay="1" suggestions="1"] If you are looking for a property to buy, request to be added to our open home alert YES, ADD ME TO YOUR OPEN HOME ALERT What are the best Illawarra suburbs to buy in for you? From Helensburgh to Kiama, the Illawarra is an expansive, beautiful area that has the ocean on one side and the mountains on the other, with a great community feel. Following is an overview of suburbs in the North, and the South for your consideration when looking to buy. Thirroul One of the main transport hubs, due to it being a stop on the express train to Sydney CBD, Thirroul is a beachside suburb, offering a village lifestyle and an extensive mix of quality house options. Diversity is aplenty, with a mix of younger and older couples, growing families and retirees, along with professionals who commute to and from Sydney for work. Eateries and boutiques inject life and energy to an area where the neighbours know each other’s names. The median price for houses is $1,519,000 and $900,000 for units. Houses rent for $780 per week, while units rent for $530 per week. Fairy Meadow Fairy Meadow is set only a few minutes from the Wollongong CBD and provides a hub of shopping, cafes and restaurants. The area offers a great variety of housing accommodation from houses to units, townhouses, villas, and self-contained cabins at the Wollongong Surf Leisure Resort. Living in Fairy Meadow provides easy accessibility to the innovation campus and university and connection to Mount Ousley for travel to Sydney. Fairy Meadow Beach is a popular spot, providing beautiful views south to Wollongong, including the Wollongong lighthouse and Wollongong harbour. The median price for houses is $1,000,000 and $512,500 for units. Houses rent for $550 per week, while units rent for $400 per week. Balgownie Could Balgownie be one of the best Illawarra suburbs to buy in for you? Balgownie provides a small, friendly village lifestyle. It is mostly residential, with a small shopping centre known as the Balgownie Village. Settled amongst the foothills of the scenic Illawarra escarpment, Balgownie is about family and community, while still being a short driver from Wollongong and major transport routes. The median price for houses is $1,092,500 and $750,000 for units. Houses rent for $550 per week, while units rent for $513 per week. Figtree Figtree is an inner west suburb of Wollongong, Illawarra. A large residential suburb, popular with families, it offers affordable housing with a great range of property types from older homes that are ready for some renovations, or new modern homes perfect to move straight in. Peaceful and quiet, you can still access the Wollongong CBD and Illawarra beaches with ease, and it provides a shopping mall - Figtree Grove. The suburb was named after the giant fig tree that once stood on the eastern side of the highway near O’Briens Road. The median price for houses is $880,000 and $585,000 for units. Houses rent for $560 per week, while units rent for $340 per week. Port Kembla Port Kembla is a suburb that is quickly changing, and being seen as among the best Illawarra areas to buy in. With many taking the opportunity to knock down and build their dream home in the beachside suburb, it is fast becoming a trendy hub for families. Port Kembla is known as having one of the Illawarra’s most impressive beaches. The area includes a seaport, industrial centre, harbour foreshore, and a small shopping area, as well a member run arts co-op Red Point Art. The median price for houses is $742,500 and $408,500 for units. Houses rent for $460 per week, while units rent for $330 per week. Calderwood If you are interested in building a new home, the new suburb of Calderwood is a good option. The suburb is new and currently undergoing development. The masterplan for the suburb includes a village and town centre, primary and high school, community centre, and recreation precinct and park, with the development set to be one of the largest planned communities in the Illawarra. The new suburb is bringing in lots of young families and is a great way to develop a close-knit neighbourhood. The median house price in Calderwood is $717,500. Shell Cove A little more established than Calderwood, Shell Cove is one of the newer Illawarra areas to live with much development still underway. It is a major coastal master-planned residential, commercial and tourist development located within the Shellharbour local government area. A 300-berth Shell Cove Marina offers an inshore boat harbour, with the suburb providing community parks and playgrounds, cycleways, and a range of excellent commercial, retail, and tourist facilities. Residents of Shell Cove are just minutes from natural attractions that Shellharbour City has to offer, and have easy access to the large Stocklands Shellharbour shopping precinct. The median price for houses is $1,005,000 and $749,000 for units. Houses rent for $650 per week, while units rent for $525 per week. If you are looking for a property to buy, request to be added to our open home alert YES, ADD ME TO YOUR OPEN HOME ALERT I hope that helps with your search on finding the best Illawarra suburbs to buy in and live in. There are many wonderful suburbs in the Illawarra and it is a matter of finding the best one to suit your needs to allow you to buy in the right location for you, meaning you will be able to make the most of what the Illawarra has to offer. We encourage you to take the time to speak with your bank or mortgage broker about a pre-approval before buying, and ensure you know what your borrowing capacity is, and any legislation changes that may impact on your home loan. If you have any questions, we would love to talk to you and can be contacted on 0426 264 771. We are here to help.
Jul 14, 2021
The value of floor plans
Have you ever wondered why we need to have floor plans when looking to buy or sell a property? What is the power of a floor plan? Floor plans are one of the most valuable tools when selling, and are highly sought after by buyers. Watch this video to learn more from Joanne Danckwardt of One Agency JD Property Agents in Fairy Meadow as she discusses why having a floor plan is invaluable and their effectiveness when buying and selling real estate. [siteloft_youtube video_id="/QcWiC6KuvbY" autoplay="1" suggestions="1"] If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist. YES, DOWNLOAD MY CHECKLIST What is a floor plan? A floor plan is a drawing to scale that shows a house as seen from above. It shows the layout and relationships between rooms, hallways, wall, doors, windows, stairs, etc of each level of a building. They will often include built-in features such as wardrobes, kitchen units, and bathroom fittings. Dimensions are usually included in a floor plan to specify room sizes. How do floor plans help to sell a property? Floor plans are an important component when marketing a property for sale, and do a great job selling a house. The floor plan will become a part of your marketing campaign, and are a cost to consider when selling your home. Floor plans are promoted on website portals, in image carousels and included in the property’s promotional brochures that are distributed at open homes, and via other sales channels. In conjunction with photos, and property videos when marketing your home for sale, floor plans will help a buyer understand the flow of the house, and encourage an inspection to be made. A floor plan, in conjunction with photos, will allow buyers to get a feel for the property. Potential buyers who have never set foot in the property gain an understanding of how the house works as whole. This is helpful if buyers have specific requirements, and helps a seller to pre-qualify a buyer before they have even inspected the property. The floor plan will also allow buyers to visualise the home should they be considering undertaking future improvements to the property like removing a wall or installing a new bathroom. If buyers are visiting several properties, they can forget which property is which and confuse or overlook the finer details of each home. Special features like extra storage or a studio can easily be forgotten. Floor plans allow buyers to draw and visualise their furniture in the home. Once they start to visualise their things in the property their passion for the property increases. When inspecting, make obtaining a copy of the floor plan a part of your questions to ask at an open home. When marketing to out-of-town buyers, floor plans are an invaluable tool for those who miss the inspection, helping to bring an unseen property to life and maintaining their interest. How do floor plans help buyers? The floor plan allows buyers to piece together the photos online and to determine what room sits where and how it relates to the rest of the property. The intersection between the photos and the floor plan will assist buyers to ‘make sense of the property’, and visualise furniture placement. A floor plan is a great way to remember the property – how many times have you inspected a house only to forget important details as soon as you leave? Where was the laundry? Did it have any linen cupboards? How big was the garage? Was there a separate toilet? Questions that may arise after an inspection can be answered by looking back over the floorplan. A floorplan will also give buyers the ability to look at the future potential of the property – is there any room to grow or extend? Can the office be turned into a play room? Is there space in the garden for a granny flat for swimming pool? How are floor plans created? Most photographers will create the floor plan for a property. Using accurate laser measurements of each room they create a detailed ‘to scale’ floor plan featuring room dimension and total property size. Some floor plans will show the homes footprint on the block. Different types of floor plans Basic floor plans are simply drawn in black and white, however you there are also coloured options that may include textured finishes such as decking or tiling. Furniture can be added to any plan to give buyers an idea of potential furniture placements. Many agencies are using innovation and technology when selling, turning floor plans into virtual tours or Matterport’s – a 3D image of the property and floor plan. If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist. YES, DOWNLOAD MY CHECKLIST If you feel you could benefit from our experience with buying and selling, we’d love to hear from you. Simply reach out. We hope that has helped you today. If you have any questions, we’d love to talk to you. Our number is 0426 264 771. We look forward to talking to you soon.