Amenities significantly impact real estate by influencing both the value and attractiveness of a property. Amenities are features or services that enhance the comfort, convenience, and enjoyment of a space or community. They can be offered in various settings, such as residential buildings, commercial properties, public spaces, hotels, and more. Here are some key ways amenities impact real...
Three ways to understand the value of your property. Understanding the value of your property involves assessing several key factors. Here are three ways to approach this: Acknowledging the Land: The value of the land itself can vary based on location, size, zoning regulations, and the potential for future development. Land in desirable areas or with unique features (e.g., waterfront, proximity to...
Growing a property portfolio using home equity is a common strategy employed by real estate investors. Home equity is the difference between the market value of your home and the outstanding mortgage balance. Here’s a step-by-step guide on how to leverage it to expand your property portfolio, but before we do, what is home equity? What is home equity? Home equity is the portion of a property's value...
Stamp duty, also known as land transfer duty, is a tax imposed by the Victorian government when you buy property in Victoria, Australia. The amount you pay depends on several factors including the property's value, the type of property, and any concessions or exemptions you may be eligible for. Key Aspects of Stamp Duty in Victoria Calculation: Stamp duty is calculated as a percentage of the...
What makes a near perfect walking score? A near perfect walking score indicates that an area is highly walkable, making it very convenient for residents to complete most errands and activities on foot. What is a walking score? The walking score is a number between 0 and 100 (100 representing a perfect score). Melbourne is the only location in Victoria ranked with a perfect 100, making it number 1...
What is a European laundry? A European laundry is a compact and space-efficient laundry area, typically found in European homes or apartments, where space is limited. Instead of having a dedicated laundry room, the washer and dryer are integrated into other areas of the home, such as a bathroom, kitchen, or hallway closet. The appliances are often stacked or placed side by side, and they might be hidden...
Improving rental yield involves maximizing the income generated from a rental property while minimizing costs. Before assessing some opportunities and tips to improve rental yield, let's explain what it is first. What is Rental Yield? Rental yield is a key metric used to measure the return on investment (ROI) for a rental property. It represents the amount of income generated from the property as a...
What is contributing to the high cost of rent in Australia. In this market insight, we share several factors that contribute to the high cost of rent in Australia. Supply and Demand Imbalance: Many major cities in Australia, such as Sydney, Melbourne, and Brisbane, face a significant imbalance between housing supply and demand. Population growth, urbanization trends, and limited land availability...
Do I focus on capital growth or rental income? When deciding between focusing on capital growth or rental income for an investment property, it really depends on your financial goals, risk tolerance, and investment strategy. Here's a breakdown to help you decide: Capital Growth Objective: Increase the property's value over time. Strategy: Typically involves buying in areas with high potential...
The popularity of house and land packages. A house and land package is a real estate offering where you buy both a piece of land and a new home that is either already built or will be constructed on that land. This type of package is often marketed by builders or developers and offers several advantages: Convenience: It simplifies the home-buying process by bundling the purchase of land and the...