Autumn is here already!  Shorter days and cooling nights herald the approach of winter.  It’s not here yet but time is running out to finish those “over the summer” outside projects.

The Reserve Bank met in the first week of the month and again left the official cash rate unchanged at 2.0%.

This month’s newsletter is chock-full of ideas and inspirations for the month of April.

Do you fit one of four common “property buyer” types? Our first article looks at whether you should buy while the Australian property market is booming?  Also some tips on what you should absolutely not do when decorating your home.

Enjoy!  Make your lender research a breeze – ask me to do it for you! You’ll save time and find a mortgage deal that ticks all the right boxes for you.

Call me today on 0402 408944

Is buying in a booming market worth the risk?

Despite all the naysayers, the Australian property market is still in a boom phase. CoreLogic RP Data’s quarterly Pain and Gain report has found that 91.6 per cent of properties resold for profit over the quarter, with 31.2 per cent of homes selling for more than double their purchase price.

So is it a wise decision to buy into a property boom? You probably won’t be surprised that the answer is yes and no, depending on your circumstances. If you fit into the following four common types of property buyers, here’s the lowdown on what you should do:     

You’re a first homebuyer – Price conscious first homebuyers are reliant on savings to get into the property market, so ultimately it will depend on what you can afford. Saving a substantial deposit is important and will help you get a better loan at a cheaper rate and minimise or eliminate mortgage insurance costs. Parents (and others) can also provide additional security in lieu of cash savings for part or all of the required deposit to get you into the market earlier.  Property is a long term investment, delaying your purchase in the hope that the market will hold steady or fall may be costly.  

You want a sea/ tree-change – If you’re looking to escape the hustle and bustle of city life, making a successful sea/tree change will depend on the market you’re moving to, and the market in which you’re selling. For those currently living in strong selling conditions (e.g. Sydney or Melbourne) it might be the perfect time to move out of the city. Prices are usually lower in regional areas so your purchasing power is maximised in the current strong city market.

You’re ready to downsize – If your family’s flown the coop and you’re rattling round a big family home, this is the best time for you to downsize. In a booming market with strong demand, you can maximize the sale of your existing home and with good research and advice, should be able to buy a smaller, less expensive home and bank a sizable sum.  

You want to build your investment portfolio – Regardless of what state the market is in, every property investor needs to ensure the sums stack up before taking the plunge. In a rapidly rising market, that means keeping a level head and not getting swept up in auction fever. In this low interest rate environment, it’s the perfect time to refinance and lock in certainty for the next 3 to 5 years. One of the main factors influencing your decision to buy in a booming market will be whether you will also be selling in a booming market.  You will need analyse both markets very carefully and get some professional advice to you maximise your position.  Talk to me about getting property reports done on both your buying and selling locations.

Want to buy and sell in the current boom market? Talk to me first. I’ll guide you through what you need to do to find the loan that’s perfect for your unique situation.  

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What not to do when deciding on your décor.

Last month we learned about what savvy interior decorators do to make their homes so Vogue Living perfect.

Sometimes, getting your décor right is more about knowing what to avoid, so here’s my top tips on what not to do when redecorating:

1. Don’t get all match-y on me. It might be easier, but it’s generally a bad idea to completely match everything because it can make your spaces look very contrived. Today it’s all about mismatched pieces, teaming vintage or antique with new, and furniture that tells a story. It also means your rug should match your upholstery, drapes and art work – mix it up a little, have some fun and don’t forget to add those personal touches that make your home unique to you.  

2. Eyes up. A common mistake is to hang your artwork to high on the wall. They should be at eye level or lower for maximum impact.  Remember artworks don’t always have to be hung, you can prop them up on the floor or a side table as well to give the room an extra splash of colour.

3. Pushed to the edge. Don’t back your furniture into every corner – pushing your sofas up against the walls can create a waiting room rather than a living space.  If you’ve got enough room, group your furniture conversationally and keep proportion and visual balance in mind at all times. A huge item in a small room can make it look bigger.

4. Think bigger. One of the biggest décor mistakes you can make is not to invest in the largest rug your room will fit. Small rugs in a large space can make a room look bit-sy and cluttered – aim to fit all your furniture on the rug (even if it’s only the front legs of your sofa or chairs) so that everything draws together in a more balanced fashion.

5. Eschew clichés. Deliberately arranged throws in the living room, quotes on the walls and block letters that spell out the purpose of a room are definitely passé. So are wall decals (except maybe in kid’s rooms). Avoid them at all costs.

Refinancing to release some cash to renovate and redecorate is easier than you think.  When complete, your project will improve the value of your house and make you happy to be home.  Talk to me about accessing the funds you need from the equity in your home.