8 Smart Tech Ideas to Include in Your New Home

With accelerated technological advancement, the idea of smart homes is not entirely new. In fact, there are a lot of smart products available on the market to help you craft your smart home dream. Through the years, smart technology has grown so much that it can now affect almost every part of your home.

Incorporating smart technology in your new home can make it energy-efficient and bring other benefits such as convenience and security. If you want to get a glimpse of how powerful smart homes can be, check out these 8 smart tech ideas to include in your new home:

1. Home Management Panel

Instead of a bunch of wall switches and plugs – imagine controlling multiple areas of your home through just one touch screen panel. Home management panels allow you to access nearly everything in one place, including security devices, smart lights, and other electronics. And because these can be installed seamlessly right into your walls, you can place them at convenient locations within your home.

2. Smart Home Locks

Smart locks have both keyed and keyless entry systems, letting you engage the deadbolt through a code or a key. This is a smart choice for when you’re tired looking for keys in your seemingly bottomless purse, or for when you want to be able to let your children in without giving them keys that they could potentially lose. Smart home locks can be set to relock after 30 seconds and can also alert you in times of break ins. 

3. Water Leak Detection Systems

Water leaks are hard to detect – sometimes, you won’t be able to notice it until it has substantially damaged your home. Water detection technology can help mitigate this; leak detectors can be installed in critical areas such as near the toilet, beneath a sink, and down the basement, so you’ll be alerted once leaks occur.

4. Smart Refrigerators

Smart refrigerators now come with touchscreens where you can order groceries online – additionally, it can also send a photo of the inside of your fridge to your smartphone. This is especially useful while you’re grocery shopping. But that’s not all it can do; smart refrigerators can also alert you of power outages, leave notes, access the family calendar, and sense temperature fluctuations.

5. Smart Light Bulbs

Smart light bulbs have the ability to sense the type of light that is already in the room, thus allowing it to switch from soft to bright, grow dimmer, and even turn itself on and off. 

6. Smart Garage Door Openers

Smart garage door openers work with smartphones so you can open or shut your garage from anywhere – yes, you will no longer need to get out of your car just to open that garage door.

7. Smart Showers 

Smart showers are beneficial in cutting down on unnecessary water consumption. It can control water temperature and reduce water flow when you move away from the showerhead.

8. Smart Thermostat Controls

Thermostat controls can help you keep your home at a comfortable temperature throughout the day. Additionally, you can access these controls through your smartphone, so you can change your home’s temperature, even while you’re away. Imagine never going home again to a hot or a really cold home – smart thermostat controls can do that for you.

These are only a few of the many available types of smart home technologies. With so many options in the market, you’ll have no trouble customizing and choosing the tech that would most benefit you. The real challenge lies with knowing exactly what you want and need from a home. 

If you’re on the search for a home that could accommodate your smart tech needs, the professionals from Buying Perth Real Estate can help you. Get a free consultation from our experts. Find out more by giving us a call at (08) 6215 0200 or by emailing us at clive@buyingperthrealestate.com

6 Things to Consider when Buying a Family Home

The things to consider when buying a family home are different than buying a house when you were single or when you were a newlywed couple. As your family grows, so are the needs of each family member. 

Instead of thinking only about your personal needs and taste, you must consider what’s best for the whole family. A family home should be a safe space where every member can have privacy, but at the same time, should include spaces where you can bond and spend time together.

Here are some things to consider when buying a family home:

1. Budget

A constant consideration when it comes to purchasing any property is the budget. This is especially important when you are planning to buy a family home. You won’t be purchasing a small home for a single person. There are a lot of other things that you need to consider which means more expenses are bound to arise. A bigger home entails higher maintenance and utility fees. Moreover, raising a family requires an ample budget especially for the growing needs of your children. These expenses should also be considered on top of your monthly mortgage costs.

2. Floor plan and spaces

How many are in the family? Are the rooms enough for all of you? Consider having separate rooms for your children as they would want to have their own space when they grow older. It would be better to invest in a house with enough individual spaces for everyone instead of eventually moving to a bigger home or doing necessary renovations to accommodate all the needed space. Multiple bedrooms and bathrooms are crucial as members of the family also need privacy.

How about the floor plan. Make sure to check if it suits the needs of your family. Do you want all the bedrooms to be on the same floor? This is advisable if your children are still young. It would be easier for you to check up on them from time to time and it will be easier for them to reach you should they need anything.

3. Lifestyle

Consider your family’s lifestyle when buying a family home. Not all family homes will meet your family’s needs, so make sure that the home you buy will include a space where everyone can practice their hobbies or fulfill their lifestyle choices.

Make sure that your children have a space to play and study. Does your family need a music room? A sports area? Or do you need a big kitchen because you love to cook and bake? These might seem like minor details, but they will help each family member live more comfortably at home.

4. Neighbourhood

Consider the quality of the neighborhood where you will buy your family home as it will be the community where you and your kids will interact on a daily basis. 

Find a neighborhood that has a low crime rate and has a high quality of life. Check out the quality of the schools and other essential services in the area and also the recreational parks and playgrounds where you can spend leisure time in.

5. Accessibility to necessary establishments

Aside from the neighborhood, another important thing that you need to check when buying a home for your family is its accessibility to necessary establishments. Is there a nearby supermarket for you to conveniently buy groceries? How about the schools? Are there good-quality schools for your children? Also, check how long the ride to the school will take. If your kids will be riding a school bus, what time should they wake up to prepare for school? If you plan to drive them, gauge the traffic. You and/or your children will be doing this trip back and forth almost every day and this will highly affect your everyday life.

6. Proximity to extended family

Living near your extended family can have many advantages. When you live near family, it means that your children can bond and get to spend time with them, especially during special occasions. Having relatives around that you can trust can also be a big help during times of emergency. 

Purchasing a home means considering a lot of things for you to find the perfect home but buying a family home requires a lot more than that. You shouldn’t just think about yourself but you should also assess the needs of each family member. Their must-haves and non-negotiables should be heard and addressed.

Buying a family home can be more challenging but the good thing is that buyer’s agents can help you find the home that will suit the needs of your family. Let the experts at Buying Perth Real Estate know of your criteria and we’ll provide you with recommendations for the best deals for you.

Contact the experienced buyer’s agents at Buying Perth Real Estate and get a free consultation.

10 Hidden Costs of Owning a Home

With the relatively low mortgage interest competing with the continuous rise in rental rates, a lot of individuals and families are now looking to purchase their own homes. The actual cost of a property, though, involves many hidden costs beyond the mortgage payments.

Whether you’re at the closing stage of your purchase or on your evaluation period, you should take some time to consider the additional charges to homeownership – these are expenses that go beyond the mortgage, property taxes, and settling costs.

To help you get started on your budget plan for this, we’ve prepared a list:

1. Moving fees

One of the most important things to take note of when purchasing – you will need to move your things into your new place. Whether you’re hiring movers or doing it yourself with rental vans, this will come with a cost. Moving fees can vary based on the location, the truck size, the amount of stuff you’re bringing in, and the season.

2. Furniture and decorations

You may not have all the furnishings you would need to fill your new space, especially when you’re moving from a smaller place to a bigger one. List down the furniture you may need and plan a budget for furnishing and décor so the expenses won’t surprise you.

3. Renovations or fit-outs

Even when you’re moving into a new home, there would definitely be a few things you would want to change, to truly make it yours. Perhaps you’d want the master bedroom to be repainted or maybe you’d want to add in a small room to use as a home office. It would be good to keep these in mind when budgeting for your home.

4. Maintenance and home repairs

Maintenance and repairs, especially when unexpected, constitute a big part of the costs of owning a home. Always make sure to have funds allocated for unexpected repairs.

5. Utilities

If you are moving from an apartment to a bigger home, expect an increase in your utility expenses. In addition, some of these utilities may ask for an upfront deposit or connection fee to get the services started.

6. Pest control

When you own your house, you’ll have no landlord to call to take care of your pest problems. In an average year, 84% of homeowners deal with a pest problem – whether it be ants, spiders, termites or mice. Dealing with pests can be more expensive than preventing pest infestation, so it would be best to spend for routine maintenance.

7. Exterior maintenance and upkeep

Your home’s exteriors need as much love as its interiors. Think gutters, lawn, paint, sidewalks, and driveway. Gutters will need to be cleaned at least twice a year. Lawns will need maintenance too – you can hire professionals to do this or you can also do it yourself. Also, keep an eye out for peeling paint and cracks along your home’s exterior.

8. Homeowner’s insurance

This is a type of hazard insurance covering any losses from your property or liability coverage from accidents that may occur within its vicinity – this is usually required by lenders. The amount needed for this will depend on factors such as location, so get different quotes for this insurance before deciding to close.

9. Security system

A good way to ensure safety in your home is to install a good security system. This could come in the form of CCTVs, motion-detector lights, or alarm systems. These extra safety features may cost you extra money but could actually also save you a lot in the long run.

10. Homeowners’ Association Fees

Select neighbourhoods have a monthly or annual homeowner’s association fee. These are used for the maintenance of community facilities or any other community event. 

A lot to digest – we know. Many of these expenses can also be hard to budget for, as they may be unexpected. Just always make sure you have sufficient emergency funds for any home repair/maintenance issue that will come up. 

When well prepared, owning a home can prove to be more beneficial than renting. If you’re looking to buy properties and are not sure where to start, Buying Perth Real Estate can help you. Our professionals offer free consultation – feel free to give us a call at (08) 6215 0200 or email us at clive@buyingperthrealestate.com

5 Mistakes that will Affect Your Home Appraisal

Once you’ve bought a house, you’re going to spend and invest a lot to improve it and live a better life. Don’t let these efforts go to waste, especially when the time comes that you have to sell your house.

When it comes to raising your house value, first impressions matter. Here are the avoidable mistakes that will affect your home appraisal:

1. Failed DIY projects and renovations

With the rise and popularity of “Do It Yourself” projects, it’s tempting to join and try making your own to save on money and create your design. However, a lot of these projects can go wrong in an instant, especially if you’re new to the task. Some DIY projects and renovation ideas may seem easy at a glance, but once you get into it, troubles may occur which may affect your house value. 

To prevent this, you can start with simple tasks such as applying new painting. You can also do your research on the best materials and practices or ask for help from people to assist you.

2. Unpleasant house situation

You wouldn’t want to live near mould, mildew, and other moisture problems that seep into your walls and flooring. Another unpleasant situation to avoid is having an old or musty smell. In a home appraisal, most homeowners try to mask these through chemicals, but experts will smell through it (no pun intended) immediately. 

To ensure your home is in pleasant condition, you have to eliminate the root cause of the problem. For moisture problems, you have to check for leaks and fix water problems. For odours, you have to clean your house thoroughly and remove the source. Sprinkling baking soda on affected areas is one of the best things that gets the job done.

3. Poor location

From the neighbourhood to your neighbours, your house location also plays a role in improving your home value. If you’re located in a place with poor conditions such as being near railroad tracks, having loud neighbours, and poor construction quality, chances are your house value will decrease (since most people wouldn’t prefer to live with these stressful circumstances).

When choosing a location, you also have to factor the environment. You have to be close to lifestyle centres, the business district, transportation systems, and public parks. Research the location well by talking to neighbours and studying the area so you can live with peace and quiet. 

4. Not having enough space

There’s always room for more space in a house. This is an indicator that you’re preparing for changes in the future in case you have a growing family, need more storage, or want to transform rooms into work or fun spaces. 

To give you an overview, a house appraisal and inspection covers most of the following: number of bedrooms and bathrooms, square footage, amenities (pool, garden, balcony, curb appeal, etc.), overall layout, appliances, and garage/storage space.

5. Changing market conditions

The real estate market is volatile and ever-changing. One day the market is in your favour, and then the prices suddenly drop the next week. To prepare for this, you have to get expert assistance to help you navigate the market. The expert must be able to predict the prices and should be familiar with the location you’re in so you can get the best deal.  

Your home is valuable, don’t let these mistakes affect it

If you’re thinking of having a home appraisal, you have to avoid these mistakes beforehand to avoid decreasing its value. 

Take care of your home’s market value. For assistance, you can get a free consultation from the buyer’s agents at Buying Perth Real Estate. Contact Clive at clive@buyingperthrealestate.com or give us a call at (08) 6215 0200 or 0412 926 190.

4 Ways to Diversify Your Real Estate Portfolio

Real estate is a strong investment and it’s considered as one of the safest ones. So, for real estate investors, creating and developing their real estate portfolio is a must – and as with any other investment, diversification creates more advantages.

Why diversify?

Despite being a steadier choice, not all real estate investments are created equal. Hospitality, for example, works best around a more relaxed community. Commercial properties, on the other hand, bring more profit to busier streets. Taking location, market, and long-term goals into consideration, diversifying your real estate portfolio allows you to mitigate risks and ensure ongoing and steady growth.  

Now that you’ve found out why let’s talk about the how:

1. Diversify by sector.

The multitude of asset types available in real estate is one of the things that makes it unique. To diversify by sector, you can dive into different residential, commercial, or industrial properties.

Residential

These can range in size, from a single unit to apartments. Residential real estate is a relatively safe choice as the demand for housing is steady. Unlike commercial properties, though, residential units tend to have shorter lease lengths, averaging 6 to 12 months.

Commercial

Commercial properties – office buildings, retails spaces, shopping malls, and more – typically have higher income potential. Leases for this type of property also tend to be longer, averaging 3 to 5 years.

Industrial

Industrial real estate refers to properties mainly used for manufacturing, storage, production and any other similar activities. Even longer than the lease length for commercial spaces, lease for industrial properties can go up to 10 years.  This entails more security and higher return. However, since these types of properties are typically bigger, they are less accessible to individual investors.

2. Diversify through location

A real estate investment’s success is highly anchored to its location, as real estate is hyperlocal. One city may be experiencing a boom while the other is currently at a slowdown. If you diversify across locations, you can use the ups and downs of various markets to your advantage.

3. Diversify by asset class

When investing, it is also important to understand human behaviour. Townhouses, for example, are more profitable in good times – when people tend to rent bigger and more luxurious spaces. Mid-rise apartments, on the other hand, may provide a more moderately priced place, for tough times when people need to downsize.

If you diversify across asset classes, your portfolio will be able to hold up in all parts of the market cycle.

4. Diversify by strategy

You can also diversify your real estate portfolio through diversifying your investment strategies. You can vary your hold time – have a property that you would buy-and-hold and have another that uses the BRRRR (buy, rehab, rent, refinance, repeat) strategy. You may also buy a property in anticipation of selling it for a higher price after a year or two.

Even within a single property type or geographical market, you could counter downturns by diversifying your strategies.

As the real estate market is cyclical, it is important to spread out your investments so you may maximize growth and potential. Start by taking some time to review your current investments and strategies. Take your notes and identify potential risks and benefits. Lastly, remember that in the long-term, diversification will contribute greatly to your investment’s strengths.

If you are planning to expand your real estate investment portfolio and are looking for the next  best property to purchase, the professionals from Buying Perth Real Estate are ready with a free consultation. To find out more, give us a call at (08) 6215 0200 or email us at clive@buyingperthrealestate.com