Money can’t buy style: What to consider when you’re styling on a budget.

We’re all familiar with the adage “money can’t buy style”, and more than likely you’ve seen the evidence at any televised red carpet shindig. Well, it’s just as true for renovations as it is for fashion. There are times when a incredibly expensive renovation can look disastrous, and a cheaper renovation can look fantastic.

With the prices in the residential market calming down in the major capitals and most regional areas how do you sell in an easing market? How do you still get top dollar? Or do you sit and wait?

Getting finance approvals has become more of a challenge and banks are now scrutinising people’s spending patterns etc with a fine tooth comb.  Make sure your pre-approvals are in place before making any offers as the time taken to get approvals have blown out considerably compared to last year.

Selling a tenanted property often makes financial sense for investors. Not only do you need to sell at the time that’s right for you in terms of the highest possible sale price, but continuing to receive rental income right up until the property sells can make a huge difference to your bottom line and ensure that you stay on top of investment loan repayments. It’s also appealing to potential investors if a property already has tenants in it.

Auctions are popular in the market at the moment and we suggest you familiarise yourself with the auction process. A standard residential property transaction is known as a Private Treaty sale. This is when you set the price you’d like your house to sell for, and your real estate agent negotiates individually with prospective buyers to achieve a sale as close to this price as possible.