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7 things every renter wants to see at an open house

There are so many gross, creepy and wrong things that can go down at open inspections for rentals.

Just because we’re renting, doesn’t mean we don’t deserve a home with modern inclusions, right? If you’re looking for a new rental, it pays to not only be organised with the application process – but also know what you’re not willing to compromise on.

We’ve seen some big blunders at open homes for rent. To avoid committing the same crimes, here are seven tips for what potential renters actually want to see.

1. A shower head that’s not from the 1950s

Why landlords insist on installing ancient shower heads in bathrooms is beyond me.

Renters do appreciate one that sprays more than a few measly squirts of water a minute.

They aren’t even that pricey to purchase and fit, so get it together on the shower front, Brenda. I’ll take mine in a matte-black finish, thanks.

2. Carpet that’s not from a horror film

Crunchy carpet is not an interior trend, nor is the notion that because a home will be tenanted, you don’t have to care about comfort or quality.

Give potential tenants some respect by installing fresh carpet, and they’ll give you respect back by looking after it.

Nobody wants to see stained carpet at an open house. This isn’t CSI.

3. A built-in wardrobe with mirrored doors

Storage is just as important to renters as it is home owners. Actually, because renters can’t install shelves on walls I’d argue that storage is even more vital.

Renters will never leave if you go for beautiful mirrored built-ins.

With that in mind, give them built-in wardrobes in bedrooms, and make sure they’re mirrored while you’re at it.

Just because you’re renting doesn’t mean you don’t like to look at yourself. Am I right?

4. A dishwasher – any sort of dishwasher!

I don’t care if his name’s Dishpig Dan and he comes with the apartment – if he’ll wash my dishes, he’s in like Flynn.

In all seriousness, though, renters want all the mod cons that home owners do, and a dishwasher is a convenience most need and expect.

The brand really isn’t important, just make sure it works.

5. Any lighting that’s not oyster

Another thing landlords love to do is install horrible 7-Eleven lighting in rental homes.

Oyster lights are the main offenders here and the inventor of them has some serious explaining to do.

There’s so much more to lighting than oyster lights. Consider pendants, LED and zoned lighting schemes.

Ban all cold lights in a rental property and opt for something warm and inviting. If you build it, quality tenants will come.

6. Window treatments that aren’t verticals

Hands up who’s been to an open house and seen verticals with a few blinds missing and those creepy cords ripped to shreds like Cujo’s run wild? Yep, me too!

Soft curtains are so much more serene than the eyesore that is vertical blinds.

Verticals are the devil’s work and must be stopped at once.

No tenant deserves this sort of window ‘fashion’ thrust upon them.

7. Mould-free walls (it’s not that hard)

If you see a few spots in the corners of rooms at an open house, run for the hills. If those spots look a little green in places, leave the tri-state area and never return.

Seriously, moving into a rental home with mould issues is a horrendous event you do not want to attend.

Don’t underestimate the impact of bright, mould-free walls.

Landlords, please sort out damp issues, repaint with mould-resistant paint, and make sure the property is well ventilated.

Source: https://www.realestate.com.au/lifestyle/


 

Brisbane and Gold Coast among world’s best luxury cities

Four Australian cities including Brisbane and the Gold Coast have been named among the top 60 luxury residential markets in the world.

Brisbane emerged in 57th spot, the Gold Coast was two spots higher (55th), while Melbourne came in at 44 and Sydney was Australia’s best performer slipping into 27th place.

This was off the Prime International Residential Index (PIRI 100) in the Knight Frank Wealth Report 2020, released midweek.

Knight Frank prestige residential sales director, Jason March, said Brisbane was now into its 26th quarter of uninterrupted annual capital growth.

“Over this time, Brisbane prime residential values have grown by 37.7 per cent, while mainstream property values only saw total growth of 13.4 per cent, with the latter impacted more severely with the tightened lending measures implemented by APRA over this time.”

“The Brisbane prime residential market has been boosted by interstate buyers, particularly from Sydney and Melbourne, looking to secure a prestige home with money still left in the bank to decorate and travel, paying significantly less than they currently would in the southern east coast cities. “

He said greater affordability helped local buyers too “with many downsizing from the large family home further from the city into a well-appointed luxury apartment closer – or in – the CBD”.

Monaco was still the world’s most expensive city, with $1m buying just 16.4sq m of accommodation – the equivalent of a bedroom. This is followed by Hong Kong and London.

The index tracked luxury residential prices in 100 cities and second home markets across the globe between December 2018 and December 2019.

Tight supply of luxury homes drove growth above the global average of 1.8 per cent in Sydney, according to Knight Frank residential research head Michelle Ciesielski.

The Gold Coast grew 1.8 per cent, while Brisbane was up 1.4 per cent, Sydney 3.7 per cent, and Melbourne 2.2 per cent over the year.

“Despite record low interest rates and wealth growth continuing in most advanced economies, there were some factors preventing global price growth from reaching previous highs, including the slowing global economy, rising property taxes and in some cases, a surplus of luxury homes on the market,” Ms Ciesielski said.

She said 78 of the 100 locations in PIRI registered flat or positive growth in 2019.

The best performing luxury market in the world last year was Frankfurt (10.3 per cent) followed by Lisbon (9.6 per cent). South Korea’s Seoul was strong too (8.9 per cent).

“Gone are the days of 30% annual growth in China’s metropolises; Seoul and Taipei are now the region’s frontrunners with annual growth of almost 9 per cent and 8 per cent respectively,” a Knight Frank statement said.

Among Brisbane homes on the market is a massive seven bedder at 88 Kadumba Street, Yeronga, which sits on a 0.42ha block. The home is priced at offers over $4.5m, according to a listing by agent Ann-Karyn Fraser of Place New Farm.

Up the range, priced at serious offers over $10m, Ray White New Farm agent Matt Lancashire has 33B Harbour Road, Hamilton. The eight bedroom, nine bathroom four car space home sits on some of the most stunning real estate in Brisbane, waterfront at Hamilton on a 1,609sq m site.

On the Gold Coast, luxury properties currently on the market include 101 Commodore Drive, Paradise Waters, a five bed stunner that comes with its own overwater helipad. The home is priced at $12.75m, according to a listing by Ray White Prestige Gold Coast Agent Robert Graham.

And on the market in the past week was 17 Hedges Ave, Mermaid Beach, a six bedroom, eight bathroom beachfront home priced at $12.5m according to agents Antonio Contreras and Joe Farr of Platinum Properties Oxenford.

Source: https://www.realestate.com.au/


How to choose the best home for your health

It may not be surprising to learn that 80 per cent of people in the developed world live in urban settings, but did you know that 90 per cent of our time is spent indoors?

According to the Heart Foundation, the built environment has become our natural environment and this has a profound influence on our health, tied as it is to lower levels of physical activity.

The foundation states that the design of our cities, towns, streets and buildings plays a key role in our ability to lead healthy lives, so it’s important to choose a home and community that will best support an active and healthy lifestyle.

Lucy Gunn, a research fellow at RMIT University’s Centre for Urban Research, says the first key to an active community is density.

“You have to have enough people to provide amenity for,” she says. “If you design small blocks with good street connectivity, it makes it easier for people to walk around.”

Gunn says if there’s great route choice and ease of access, lots of people will walk, which then makes walking safer.

Similarly, if parks and open spaces are easy to access for sufficient numbers of people, they are more likely to be both well-utilised and safe.

“If sidewalks and cycleways are safe access routes, it encourages people to be more active,” Gunn says. “And if there are street trees you get shade and a nicer environment to spend time in.”

Good access to public transport and shops also provides opportunities for communities to be less car-dependent.

“If you want to get people out of their houses without driving you need really good access to amenities,” says Gunn. “Close proximity to a bus stop or station is critical and it’s the same with access to basic shops and social infrastructure.”

Gunn says a main street-style town centre encourages walking and is usually a nicer place to be than a shopping mall, where cars prevail.

The final piece of the puzzle is what Gunn calls “interventions”, the community programs that can work hand-in-hand with hard infrastructure. These might include fitness programs and activities that developers can introduce in partnership with local councils.

A great example is the Live Life Get Active program on offer at Frasers Property’s Fairwater community in Blacktown, where a trainer is on site every weekday to coach participants through free fitness sessions including yoga, boxing and cross-training.

“With mental health becoming a bigger issue for our community, it’s part of our responsibility in creating communities that we try and best facilitate social connection,” says Nigel Edgar, general manager – residential at Frasers Property Australia.

Edgar says Frasers Property has been placing a strong focus on health and wellbeing in the communities they’ve established over the past 10 years.

Fairwater, which is the first community in NSW to receive a 6-star Green Star rating from the Green Building Council of Australia, ticks many healthy living boxes, with outdoor fitness stations, walkways, bike paths and children’s play areas all adding up to over 9.5 hectares of open space. A dedicated community development manager is also on site to coordinate community activities.

According to a survey conducted by Frasers Property in August 2017, 65 per cent of Fairwater residents feel physically healthier, 88 per cent feel happier and 80 per cent feel more connected to their community than they did in their previous home.

“A happy community with well-connected occupants is a community which thrives and is far better than living inside your own four-walled box,” says Edgars.

Source: domain.com.au/living

How to negotiate a lower interest rate with your lender in five simple steps

Did you know you can pick up the phone at any time and try to get a better deal from your lender?

If you said no, you may be among the large cohort of Australians who feel confused and disempowered by the lending landscape.

More than half of Australians are unaware that borrowers with variable interest rates can try to negotiate a lower interest rate with their lender, according to a recent survey by online broking platform Lendi.

Of the 2500 people surveyed, more than 60 per cent thought it had become harder to get a loan in the past year. That’s despite credit restrictions easing and ABS figures showing a surge in the number and value of owner-occupier loans in November last year.

The survey also found more than 80 per cent of home owners would switch banks for a better deal, but only a third had ever refinanced.

“There’s clearly a disconnect between intentions and actions,” said Lendi co-founding and managing director David Hyman.

More than half of those surveyed thought it was hard to find the best home loan deal available.

“It’s not apathy that is paralysing borrowers,” Hyman said. “It’s a lack of transparency in the market which blocks action by making it hard for borrowers to understand what their options are.”

Australians feel there is a power imbalance when dealing with lenders, with three quarters of people believing banks had more power in the home loan market than customers and brokers.

“The majority of Australians believe the distribution of power in the home loan market is unjust,” Hyman said.

While it may seem at times like banks are holding all the cards, lending to customers forms a huge part of the banks’ business model, with more than $2 trillion in home loans on their books.

A borrower taking out a $400,000 loan at the average variable rate of 3.82 per cent stands to pay $272,619 in interest over a 30-year loan term, assuming rates remain stable.  Considering the huge amounts of money banks stand to make from borrowers, it’s in a lender’s interest to try to retain customers.

Interest rates are at historic lows and many economists are expecting another cut in February, and lending has become more competitive with smaller lenders growing their market share, meaning borrowers can get a better deal from their current lender if they know what to ask and how to ask it.

The 5-step guide to negotiating with your lender

If you think you’re paying too much interest on your home loan, it’s time to contact your lender and ask for a better deal. But there’s more to it than that.

“It’s a classic case of preparation is everything,” says Canstar group executive of financial services Steve Mickenbecker.

“You don’t just turn up at the lender and say ‘I want a better deal’ because the answer will almost always be ‘too bad’,” he said.

“Or, they might throw you a bit of a bone, which might be a little discount, and hope you go away happy.”

1. Research the market

The first step is researching what rates are available from other lenders. “Do the homework first,” Mickenbecker said. “Find out what you can get elsewhere.”

Mickenbecker recommends having a list of at least five lenders including a mix of the big four and smaller institutions.

Rates should be for comparable products. If you have an interest-only investor loan, there’s no point comparing it with principal-and-interest loans for owner-occupiers.

2. Talk to the right people

Negotiating a lower rate requires a targeted approach, because some bank staff have greater power to reduce your rate than others.

“If you have a banker as a contact, it can be great to go to that banker first,” Mickenbecker said.

“If you try the branch first and get nowhere, the next step is to get on the phone and find the customer retention team. They normally have more latitude to negotiate.”

3. Make your case

Mickenbecker says borrowers should explain to the customer retention team the reasons why their rate should be reduced.

“You basically say to them, ‘Look, I’ve had my loan with you guys for five years and made all the repayments on time. This is my rate and it’s not in the market. I can do better than this. I expect my loyalty to be repaid.’

“It’s useful to have all those lines written down in front of you.”

Mickenbecker said it was important to remain polite, but assertive.

“You should be nice, but firm,” he said. “You’re being polite and friendly, but you’re certainly not presenting yourself as a pushover. You’re presenting yourself as someone who understands the market and won’t take no for an answer.”

Mickenbecker said this approach might yield results, but it was important for borrowers to be realistic.

“Ultimately you might not get what you’re after, so you have to know what your bottom line is.”

4. Call their bluff

If your lender refuses to lower your rate, or you feel the reduction is too small, it’s probably a good indication that it’s time to refinance.

“It’s easier to stay where you are, of course,” Mickenbecker said. “If you’re 0.2 per cent off the lowest in the market then maybe that’s OK but if it’s 0.4 per cent off, then that’s not OK.

“If you don’t get what you’re after, go to number one or number two on your list and apply for that loan as a refinance loan.”

While changing lenders may feel like a huge hassle, the savings add up over the life of the loan, and the sooner you refinance, the more you stand to save.

5. Use a broker

Alternatively, you may find it simpler and quicker to approach a broker to handle the refinancing process.

Brokers facilitate more than half of new mortgages, and are usually able to present borrowers with a range of lenders and products to suit their situation.

They can also model how expected savings compare with any break costs to work out the best approach.

Source: www.domain.com.au/


 

How to keep your house cool without using too much power

Finding energy-efficient ways to cool your home doesn’t just save you money on bills – it can be critical on sweltering days when everyone else is also using their aircon and there’s a risk of blackouts.

Earlier this month, governments and energy professionals around the country issued warnings about using energy in the home amid the bushfire crisis. Their warnings were clear: despite staggering temperatures, do your best to use less power to avoid power outages.

NSW Energy Minister Matt Kean urged residents to cut electricity usage after the state grid’s links to Victoria went down on January 4.

The same day, the temperature in Sydney’s western suburb of Penrith reached an eye-watering 48.9 degrees.

With hot weather still to come, combined with bushfires continuing to ravage the country, residents have been urged to cool their homes using alternative measures and, where possible, use less energy than they usually would to avoid blackouts.

Before you reach for the aircon remote, here are some alternative ways to keep your home cool without using excessive power this summer.

Keep your windows shut

While your first instinct might be to open the windows and let any air blow through, this can actually trap more heat.

“Although it’s natural to want to let fresh air in, the likelihood that the hot air will cool down the house is very slim,” says Hannah Craft from Environment Victoria.

“It’s best to close the doors and windows and keep that cooler air inside. If the temperature is due to drop overnight, throw your windows open before you go to bed and allow the cooler breeze in.”

Insulate your home

This is a long-term solution rather than a quick fix, but it will keep your home cool over the long term, making you comfortable not just in the summer time. And there are some forms of insulation that you can install yourself.

“Insulation is a great way to keep your home cool in the summer and warm in the winter,” says Craft. “And as an added bonus, insulating your home can help you save on your energy bills.”

Invest in a cooling pillow or sheet set

There’s a range of cooling pillows and sheets available online, designed to keep you cool during the night and lessening the need for running the airconditioner.

Shade your windows

This is another preventative measure as shading prevents heat from coming straight through the window and warming up the room.

“Shade your north and west-facing windows. Before suggesting film which isn’t necessarily good for the environment, consider awnings, trees and pergolas with vines,” says Craft. “These are particularly good options, because they give you shade in summer and sun in winter.”

By using a fan, the heat is distributed around the room immediately, and the cold air is continually heated then pushed out by the heater.

If these aren’t an option, you could consider putting a reflective film on the glass. This works well in summer, but means you get less sun in winter.

Use a fan first

Instead of turning the airconditioner on as soon as you feel warm, try a fan.

Craft says home owners might be surprised to learn how much energy they can save.

“Fans are a good money saving tip as well as an energy saving tip. They cost virtually nothing to run, while your airconditioner can guzzle electricity, which in Victoria means it’s also responsible for a fair whack of carbon pollution,” she says.

“Evaporative coolers don’t use as much energy as refrigerated airconditioning, but they guzzle water instead … as much as 60 litres an hour for ducted systems.”

Move the party outside

Avoid heating the kitchen by firing up the barbecue instead. Try some old school, pre-aircon methods like using a spray bottle on your face and body, carrying a wet face washer or setting up a kids’ pool while you’re out there.

Source: domain.com.au/living