A Family Home With an Investment and Development Potential

12/31/2020 Clive Elliott Buyers Agent, Homebuyer Tips  

R20/60 DEVELOPMENT POTENTIAL

117 Leach Highway, Willagee

This incredible investment is on a busy road which is 10 minutes to Fremantle, the well-known cappuccino strip, and excellent swimming beaches.

There’s a PLUS that many will overlook when viewing this property.

It is an 853 sqm lot size zoned R20/R60 which has the development potential for a five-unit site.  Plus, uninterrupted valley views with stunning sunsets.

The property at the rear of 117 Leach Highway being 78 Arkwell Street has an easement linking future development access from 78 Arkwell Street. This easement is already constructed and in place.

This property is an incredible opportunity you can call home with great future potential. This outstanding three-bedroom character home has superb features. The moment you enter, you can feel the country-style warmth.

The home is surrounded by beautiful trees, massive avocado, and mango trees, Moscato grapevines, and citrus trees over fifty years old.

Features included:

  • Spacious lounge and dining area 
  • Large open area with high ceilings, decorative cornices, modern downlights, and neutral tones
  • A modern renovated kitchen that includes dishwasher, gas cooktop, plenty of cupboard space, and double door pantry
  • Double-sized bedrooms with ample views
  • Fully-renovated bathroom with ample light coming in
  • Wide backyard with a double undercroft garage that can be used as a games room for the family

Additional features:

  • Ample parking area that can accommodate up to ten cars
  • Shed and workshop
  • Stunning Willagee valley views
  • Ducted evaporative air conditioning
  • Downstairs laundry
  • Timber floors
  • Firepit
  • Close to parks, sporting grounds, library, shops, primary and high schools, and universities
  • Accessibility – fifteen minutes to Perth, ten minutes to Fremantle, and only five minutes to the freeway and Bullcreek Train Station

With all the facilities available, this is a very comfortable home for a young family. You can live in the home while deciding to subdivide.

If you are looking for a fantastic investment, grab this home as it is realistically priced from $650,000. In this market, it offers top value.For more information and to arrange your viewing contact Clive@Buyingperthrealestate.com or call Clive at 0412926190.

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get the lowest price for your next home

5 Ways to Get the Lowest Price for your Next Home

12/30/2020 Clive Elliott Homebuyer Tips  

Searching for a great yet affordable property isn’t that easy, especially if there is a high demand in your area. Even with the economic turmoil that has happened in 2020, property prices in Western Australia have continued to increase.

So what are the things that you can do to get the lowest price for your next home? Read these tips to find out some of the many ways to get the lowest price for your next home.

Look for Off-Market Properties

There are many amazing and affordable properties that aren’t listed on the real estate internet marketing sites. Off-market properties are properties that are being sold without a listing or advertisement. This can be a great opportunity as off-market properties usually have less competition and have cheaper fees.

To spot an off-market property, you can ask your local real estate agents, through real estate auctions, through buyer’s agents who have strong contacts with banks and financial institutions, or even through word of mouth from friends and family. 

Consider Foreclosed Properties

Foreclosed properties are properties that are being sold by the homeowner’s bank because of failure to pay the loan. These properties are usually cheaper than your average property listing and you can definitely find good deals.

You can either search for foreclosed properties on banks’ websites or go to their office for a list of foreclosed properties for sale. Again, engage an experienced buyer’s agent who is well known and respected throughout the Perth real estate and bank community.

Hire a Buyer’s Agent

Buyer’s Agents have an extensive network. They can find you great property deals and can recommend the best possible property that will surely answer what you are looking for in a home. Furthermore, they are experts who have vast experience in negotiation which can help you get the lowest amount possible. 

A bonus when you hire a buyer’s agent is that you get a hassle-free buying journey, aside from helping you get the lowest price for your next home. They will also assist you in processing special conditions and building reports to protect your buying decisions.

Sharpen your Negotiation Skills

In many circumstances, having excellent negotiation skills can actually go a long way. This also applies to purchasing a property. Negotiation plays a critical role in getting the best deal that you could have.

It is a good strategy to sharpen your negotiation skills. However, if you do not feel comfortable with negotiating with sellers and agents but want to get the best deals with conditions that suit you, engage a buyer’s agent. Buyer’s agents will look after the searching, selection, negotiations, and special conditions right through to settlement.

In most cases, the money saved in the negotiations and time saved and stress more than covers the buyer’s agents fees.

Look for the Best Home Loan Deals

Aside from the selling price of the home you’re planning to purchase, you can get a low price by looking for the best home loan deal. Explore different home loans and compare them to find the best mortgage rates. 

Ask your buyer’s agent to put you in touch with an independent mortgage broker. They can find you a home loan that best suits your financial capability, based on the loan duration and the best interest rate.

Get The Lowest Price for your Next Home Today

If you need help in finding the best deals, reach out to the buyer’s agents at Buying Perth Real Estate. You may send an email to clive@buyingperthrealestate.com.

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How to Save Money When Buying Property

12/30/2020 Clive Elliott Homebuyer Tips  

As a homebuyer, you might be wondering what you can do to save as much money as possible when buying a property. While you can get the most by hunting out the best deals in your area, there are even more ways to save hundreds or even thousands of dollars on a property.

Get the Right Type of Mortgage Loan

housing loan

Not all home mortgage loans are equal so you might want to take some time and search for the right loan for you. In applying for a mortgage loan, you must consider your current savings, income flow, and your credit rating.

There are many types of loans. Bridging loans are for people who are looking to buy a new home while trying to sell their current home, while construction loans are specialized for those who need to pay for ongoing construction processes. Some mortgages also give you a choice between a fixed or variable interest rate.

Save up for your Deposit and Equity

save money when buying property

Saving up at least 20% of the property price for your deposit and equity can help you save a lot of money on the interest rates. The higher the amount you can pay up initially, the lower amount you need to borrow and the shorter the time you need to pay off your loan.

Home mortgages can be expensive especially those lasting for up to 20 or 30 years. Imagine the savings you will get if you can avoid paying the interest of your home for that time.

Increase your Credit Rating

increase credit rating

Having a good rating can help you save more money in the long run. The higher your credit rating, the greater your probability of getting a good home loan deal. Lenders prefer buyers with a good credit rating as it means that they are more credible when it comes to payments. If you have a good credit Rating, lenders will be able to consider a lower interest rate for your loan.

Hire a Buyer’s Agent

hire a buyer's agent

One of the most effective ways to save money when buying a property is by hiring a buyer’s agent. You might think that you will spend more money on a buyer’s agent but getting a buyer’s agent will actually benefit you more. They are experts who have vast experience in negotiation; hence, they will be able to provide you with the best options and the greatest deals. They will help you get quality properties that are worth the price.

The buyer’s agents from Buying Perth Real Estate would love to help you on your journey of purchasing a property. Contact Clive on 0412926190 or clive@buyingperthrealestate.com and we’d be more than happy to assist you.

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finance clause

Why Buyers Should Have A Finance Clause

12/17/2020 Clive Elliott Homebuyer Tips  

Are you getting a home loan for your next property purchase? Are you sure that you don’t need a finance clause for your next home?

Buyers need to do their homework and get pre-approval prior to looking for their home or investment. It’s not enough for buyers to think that they have a great income. A good amount of deposit and equity will not ensure getting your loan approved quickly.

There is a risk that if your loan is not approved on time that your contract may be canceled. Lenders take time to process the loan, to do all the checking to make sure they have all the facts correct before submitting it to the approval department. Get a real pre-approval done before you start your property search. 

What is a “Subject to Finance” Clause?

A subject to finance clause is a legal agreement with the seller to purchase a property on the condition that you receive a home loan approval from the bank.

If in the event that your home loan is declined for any reason, a finance clause is necessary to protect you from losing your deposit and to avoid being subjected to damages that may arise.

Why do you need It?

In some home purchase contracts, a subject to finance clause is a standard condition. This clause will give you more time to search for the right home loan for you.

Including a finance clause in your contract of sale will also protect you from situations that you didn’t even foresee. Aside from the possibility of being denied the loan approval, there might be delays from the typical approval timeframe. If the delay goes beyond your agreed timeframe with the seller, you need to find other ways to finance the purchase.

Perth’s economy is doing great right now and is even projected to grow by next year. But there are still some uncontrollable factors that can affect your employment. Sudden changes in employment can affect your loan approval.

Some lenders might provide pre-approval for your loan. This doesn’t mean that it is already safe to not include a finance clause. There are different types of pre-approval and most do not guarantee that your loan will be approved. Hence, a finance clause is still recommended.

A subject to finance clause is something that you should definitely consider adding to your sales contract. By using an experienced buyer’s agent, they will ensure the correct wording is put into the contract to protect you. The buyer’s agents will act as a third party to give you wise advice in selection, negotiations, and the special conditions you should add to the contact to protect you through to the final settlement.

In the long run, this decision can save you a lot of time, money, and stress. Contact the buyer’s agents at Buying Perth Real Estate to give you a further understanding of the ‘subject to finance’ clause in real estate.

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first time homebuyers blog post

Why Now is the Time to Buy For First-Time Homebuyers

12/03/2020 Clive Elliott Homebuyer Tips  

Coronavirus led to a downfall of our economy so people, especially aspiring first-time homebuyers, might think that now would be a really bad time for an investment in the property industry. However, things are the opposite for Western Australia.

With an economy that’s not dependent on tourism, travel-related industries, and the government’s relatively quick effective response to Covid-19, the property market in Western Australia is in a state of a boom.

So, for millennials and aspiring first-time homebuyers, now might be a perfect time. Here are a few signs that might convince you to buy a property in Perth sooner than later:

You might have enough money for a deposit right now.

first time homebuyers savings to buy property

First time home buyers are usually the younger market. This age range usually spends their money on lifestyle but because of the pandemic, this aspect has been largely restricted. Since there are fewer opportunities for them to spend their money on, they were able to save more money than what they had originally planned. With this, they might just already have enough money for a deposit sooner than they expected.

Perth real estate is the most affordable in Australia.

Perth real estate is the most affordable in Australia for first-time homebuyers

According to Property Observer, properties in Perth are currently the most affordable among all Australian capital cities.  Hence, it is a perfect opportunity for first-time homebuyers. In real estate, it has always been advisable to purchase a home sooner, especially when the prices are low since the value projection in the upcoming years is usually positive.

Perth property market is expected to boom in the upcoming years.

Perth property market is expected to boom in the upcoming years.

As mentioned in our previous point, the projection for the value of a real estate is often increasing in the next several years. It might surprise you that the property you purchased this year might have already increased because of the growing demand in the Perth suburbs.

Due to WA’s quick response to the pandemic, the curve has been flattened sooner, lessening COVID19’s impact on our economy. This is contrary to what we initially forecasted. With the emerging economic growth and the current work from home situation, we expect a low-vacancy rate. Given this, we expect that the real estate market will rise in the next several years as we are currently in the early stages of a property boom.

The Building Bonus Grant is Perfect for First-time Homebuyers

building bonus grant

The Building Bonus grant, which is part of WA’s recovery plan, grants $20,000 to any homebuyer who applies and signs a contract by December 31, 2020. The grant allows homebuyers to build a new house or to purchase a new property in a single-tier development. 

This effort is aligned with Western Australia’s goal to rebuild the economy quickly. The government is encouraging workers living in other regions to consider moving to the area. So far, the campaign has been effective and according to several bank reports, Perth property prices are expected to rise by 12% in mid-2021.

There are so many reasons to purchase your first property in Perth as soon as possible. The property market is in a phase of high demand and prices will surely increase within a year. 

Have you been planning to buy your new home? Consider buying a property in Perth. Get a free consultation from us today and we’ll help you answer any questions.

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