about Renovations !!

Hi Alex,

I have personally sold 2 properties over Christmas and have not really had any problem. I have to admit they settled early January though as opposed to late December. One of the reasons we had to settle in January was because the buyers solicitor was on holiday!! (just something to think about).

I would definitely have a back up plan since that time of year is pretty crazy and people are concentrating on their holidays, family etc. and not necessarily on moving house.

One thing to really make sure you do (at any time of the year) is create good VALUE for your buyer. There are lots of articles on my website if you are interested. In particular, I am a fan of renovating to meet the needs of your target market. See if you can find out who your likely buyer is going to be (young families, retirees, professional couples, families with teenagers etc.) by talking to local real estate agents. Then renovate your property to suit that target groups' particular needs and wants. You also might consider their average income (so you can work out what value of property they are likely to buy).

I know this is a little like 'crystal ball gazing' but you can work these things out to some degree. Better to have a bit of an idea about who your buyer is going to be than no idea at all!

I hope this helps.

You're welcome!

One of the hardest parts is finding a property to reno in the first place. You're right there are some processes/templates out there that will help you – and this is an excellent thing to use, especially if you're starting out.

There are also a few really good courses out there. Cherie Barber and Stephen Tolle are EXCELLENT (Renovating For Profit). Their course is so thorough and you walk away with so much knowledge, templates etc… I have presented at their seminars now a number of times and I can't tell you how comprehensive it all is! You of course need to pay for this and this is where some people come unstuck. But think about it like this – you'll spend (say) $5k on the course but on your first deal you are likely to make this back 5 or 10 times over (depending on the deal of course!).

The other option is Ana Stankovic (Winning Formulas for Success) who is also excellent and does courses as well as a very reasonably priced coaching/mentoring service. This is great if you want 'hand-holding' through your first deal especially. Money well spent I would say!

Good luck.

Hi Alex,

Christmas time can be a little tough to sell, but then again some people love to take that time off work and spend it moving into a nice new house for a fresh start to the new year.  You can play on that fact with you marketing if you decide to go that way.  As Jane said though, talk with your team (solicitors, agents) to find out when they would be available.  The best place to start to figure out if it would really work for your situation and area is to talk to your real estate agent.  Find out their perspective and sales records for that time of year in your local area, they wold know it the best I would think.  Good Luck.
Amanda

Hi Alex, 

We have our PPORin the Southern Beachside suburbs around Christies Beach, which for us was a  really good place to start!!  Our simple home improvements almost doubled our  home value since 2006.  (kitchen, bathroom, landscaping)

There is Great potential for subdivision and Renovations in and around Southern suburbs and don't be afraid to go as far as Seaford or further as the Gov just announced a rail extension to that area, making commuting to the city 30-40 minutes on train!

Osullivan beach is the Neighbouring suburb to Christies Beach and is almost 100k cheaper on the Median House price average, another great place to begin.

Good luck.

Regards,

Dave

Don’t believe the newspaper.