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The Melbourne rental crisis has made finding affordable and suitable accommodation a daunting task for many. With soaring rental prices and high competition, it's essential to have a good, practical plan and use all available resources to secure a place. This article will help you understand what is happening and how you can self-help to beat the rental crisis, without relying on rental search agents. What is Happening with the Melbourne Rental Crisis? In recent years, post the covid pandemic, Melbourne has been experiencing an unprecedented surge in rental demand, causing a severe shortage in rental properties. This has resulted in rent prices rising between 10-20% annually for the past 2 years (since 2022) . The rental crisis is not unique to Melbourne only. In fact, all major cities in Australia is experiencing some form of rental shortage. But in no other places has the rental crisis been as severe as Melbourne. Speaking with some property managers, there can be up to 100-200 rental applications for each available rental property. What caused the rental shortage in Melbourne? The rental crisis in Melbourne is caused by a perfect combination of problems. Influx of New Migrants into Melbourne. Melbourne has experienced a significant influx of migrants, both from overseas and interstate. In 2023, Melbourne's population surpassed Sydney, making it Australia’s most populous city. This surge in population has increased the demand for rental properties, putting pressure on the already limited housing supply. Property investors retreating from the Victorian property Market. The introduction of new Minimal Rental Standards aimed at improving the quality of rental accommodation has backfired and led to a retreat of property investors from the Victorian property market. These standards require rental properties to meet strict criteria, which can be costly for landlords to implement. Higher Interest Rates. For many years, the Australian property market thrived under low-interest rates. However, recent increases in interest rates have reduced the profit margins for landlords, making it less attractive to offer properties for rent. Landlords have no choice but to increase the rent, to reduce their mortgage loss. Over-cooking the Rental Standards. While certain minimum rental standards related to fire and safety are necessary, some of the new minimum requirements have been seen as excessive. Standards such as the minimum cooktop size and specific curtain/blind requirements often exceed those of the landlord’s primary residence. Upgrading properties to meet these standards can often cost landlords between $10,000 and $20,000, squeezing their profit margins and forcing many to sell their investment properties. Increased Land Tax. Landlords have often been perceived as wealthy, but this is not the case for the majority. Most property investors spend more on mortgage repayments, maintenance, and repairs than they collect in rent. To make things worse, the substantial increase in land tax in Victoria, introduced to cover the government budget shortfall, has further burdened landlords, making it financially unviable to provide the rental properties, without a substantial increase the rental price. Investors selling out. The combination of higher interest rates, stringent rental standards, and increased land taxes has made it unprofitable for many landlords to maintain their rental properties in Victoria. Consequently, many property investors are selling their properties and relocating their investments to seemingly more affordable cities like Perth and Brisbane. This exodus of investors has further reduced the number of rental properties available in Melbourne, exacerbating the rental crisis. The rental shortage in Melbourne is the result of a complex interplay of factors, including a surge in population, higher interest rates, overly strict rental standards, increased land taxes, and investors selling out. Addressing these issues requires a multifaceted approach, balancing the needs of renters, landlords, and the broader housing market. Can Rental Search Agents help you find a Rental Property Faster? If you have the time and resource to search and review all rental properties, and attend inspections, rental agents cannot help you find rental properties any faster. But if you do not have sufficient resources or time to access and review all available rental properties, a good and resourceful rental search agent can shorten the search and professionally liaise with the property manager and landlord, improving the attractiveness of your rental application. Our rental search service has a success rate of 99.8% and is a cost effective way to find your rental quicker. What can I do if I do not have a Rental History? If you are a new renter or new migrant into this country, property managers do not expect you to provide any past rental reference or referees. This is only logical. However, if you have prior rental history in other countries, you can provide them. Chances are, the agent are unlikely to contact your foreign landlord or former agents, but it shows you are opened to have your rental history checked. You can also provide character reference from your colleagues or friends, if you do not have any rental history at all. Is Bidding for Rental Allowed in Melbourne and Victoria? Bidding for Rental Properties is illegal in Melbourne and Victoria. If the agents have asked you to bid or better your offer for a rental property, you can report the agent to the Victorian Consumer Affairs. What are some Advice and Pro-Tips to Beat the rental crisis? Our property advocates have been asked by many new migrants about the rental crisis in Melbourne, many seeking for tips and advice to beat the rental crisis. We have compiled a comprehensive guide to help you beat the rental crisis in Melbourne. 1. Expand Your Search Area Keywords: affordable rental options, Melbourne suburbs, regional areas Now, looking at a typical 2 bedroom rental unit or apartment in Melbourne, rental prices can range from $400 to over $800 per week. Naturally, the closer the property is to the city and major amenities, the higher the rent. Vacancy rates in Melbourne vary significantly, from as low as 0.2% to over 3%. While it’s tempting to focus on your preferred suburb, broadening your search to nearby areas can reveal more affordable rental options. Consider exploring suburbs a bit further from the city centre, in locations with less demand or locations higher vacancy rates. Additionally, if you have the flexibility, looking into regional cities and towns around Melbourne might offer more reasonable rents and a higher quality of life. 2. Utilize Rental Platforms and Tools Keywords: rental websites, Domain, Realestate.com.au, rental alerts To maximize your chances of finding a rental, use multiple rental websites like Domain, Realestate.com.au, and Rent.com.au. These platforms offer extensive listings and allow you to set up alerts for new properties that match your criteria. This way, you can be among the first to know when a suitable property becomes available. A word of caution though, these are popular listing boards, and there could be many watchers for new rental properties that become available. So, competition for your preferred rental properties can be high. 3. Network and Use Social Media Keywords: local Facebook groups, community groups, rental listings Networking can be a powerful tool in your rental search. Let friends, family, and colleagues know you’re looking for a place. They might know someone who is leasing their property. Additionally, join local Facebook groups and community groups where members often post rental listings and opportunities. 4. Consider Shared Accommodation Keywords: house-sharing, Flatmates.com.au, co-living spaces Sharing a rental property with roommates can significantly reduce your individual rental costs. Websites like Flatmates.com.au can help you find shared accommodation options. Co-living houses are also gaining popularity, offering a community living experience at a lower cost. 5. Be Prepared and Act Fast Keywords: rental documentation, inspection readiness, quick application Now, because everyone is relying on the same public websites for new rental properties, there could be hundreds of watchers for new rental properties. So, you need to be prepared and act fast. Having all your necessary documents ready can give you a competitive edge. Ensure you have your ID, proof of income and/or bank balances, and references prepared. When a suitable property becomes available, be ready to inspect and apply quickly, as good rentals are often snapped up fast. It may not usually get you ahead of the rental queue, but it will show the agent that you are prepared. 6. Negotiate Lease Terms Keywords: rent negotiation, longer lease agreements, rental incentives If you are new to the rental market or looking for a new place to rent, skip this, and proceed to the next point. For people who are renewing their leases, don’t be afraid to negotiate the rent, especially if you have been a good tenant, always on time with paying the rent, and looking after the property, consider offering a longer lease agreement. Some landlords might lower the rent in exchange for the security of a long-term good tenant. 7. Consider Alternative Living Arrangements Keywords: co-living spaces, temporary accommodation, short-term rentals If securing a long-term rental proves difficult, consider alternative living arrangements. Co-living spaces offer a community feel at a lower cost. Temporary solutions, such as short-term rentals or staying with friends and family, might be necessary while you continue your search. 8. Improve Your Rental Application Keywords: rental resume, higher bond offer, strong application Creating a rental resume with detailed information about your employment, rental history, and references can make your application stand out. Offering a higher bond can also make your application more appealing to landlords. 9. Stay Informed Keywords: rental market trends, rental workshops, market analysis Keeping up with rental market trends can help you make informed decisions. Attend rental workshops and seminars that provide insights into the current market conditions and offer valuable tips on securing a rental. 10. Work with a Rental Search Agent Keywords: rental agent, property search, application assistance If you do not have the time to keep searching and run around for inspections, hiring a rental search agent can be a worthwhile investment. Rental Search Agents can help you find properties that meet your criteria and assist with the application process, professionally liaise with the landlord or property managers and increasing your chances of securing a rental. Conclusion The rental crisis in Melbourne can be challenging, but by using these strategies and resources, you can improve your chances of finding a suitable and affordable rental property. From expanding your search area and utilizing rental platforms to seeking professional assistance from Concierge Buyers Advocates, there are many ways to navigate and potentially overcome the rental crisis. Stay proactive, be prepared, and make use of all available resources to secure your next home in Melbourne. If you are keen to find out how our property advocates can help professionally find your rental property quicker, saving you time and stress, do get in touch.

What happens if you've found the house you want, but it is near a high tension powerline? Are there any evidence confirming or denying any health risks of living near powerlines? And does the real estate agent need to tell you there is a powerline nearby? And more importantly, does powerline affect the property value? As buyers advocates, we frequently address these concerns for our clients. This article aims to provide clarity on how powerlines influence property demand and prices based on our experience and observations. Let's start with the basics. Do All Power Lines Have the same Effect on Property Values? A quick answer is no. There are many types of power lines and each have different effect or no effect to the property values. We will explain how the different types affect property prices below. What Are the Different Types of Power Lines in Australia? Knowing the different types of power lines and their voltage will help you identify what they are, and understand if they are safe, and help you maintain any safe clearance distances. This is critical if you are intending to plant trees or work or build near a powerline. Types of Powerlines Powerlines can broadly be classified into two types, based on their appearance: Aerial - Visible overhead, typically on towers or poles Underground - Buried, often in pipes, more common in modern residential areas for aesthetic reasons. What Types of Power Lines do we usually see in Australia? The ones we see would usually be aerial power lines, these can be further classified into different categories, based on what they carry. Generally, they can be categorised into: Transmission Power Lines . These large steel structures carry high voltage power. These 30-50 metre tall power lines are usually found on the edge of or outside metropolitan areas. However, as the metropolitan area expands, we may find ourselves living amongst these powerlines. Distribution Power Lines . These powerlines carry lower voltage, and are common around suburban streets. As the name suggests, these powerlines distribute power to the area. Service Power Lines . These are typically the single powerlines we see from the distribution lines into the house. What Types of Power Lines Are People Usually Concerned with? Of these 3 types of power lines, property buyers are usually worried only with the high voltage transmission lines. These are the 30-50 metre tall steel towers. Should property buyers be concerned with high tension power lines? There are generally some concerns around a few aspects of power lines. Buyers (and renters) are typically concerned health, aesthetics, valuation. We will cover these separately in the following sections. Let's start with the easy ones first. Are there aesthetics concerns with power lines? The towering presence of power lines, often reaching heights of 50 meters, can be visually unappealing to some individuals. While many people accept these massive steel structures as part of the landscape, this sentiment can change if one lives near them. Although it is uncommon for houses to be constructed right under high-voltage power lines, it does occur, particularly when the land is subdivided. Do Power Lines Affect Property Values in Australia? While most people don't mind living near power lines, there are definitely those who prefer to avoid them. This preference can reduce the pool of potential buyers, consequently lowering the valuation of properties situated near power lines compared to similar properties in the area, as there are less buyers who are keen with them. How much does powerline reduce the property value? There is no definitive rule for determining how much power lines reduce property value. The impact on valuation depends on various factors, including proximity of the power lines, location and size of the property, and quality of the land, etc. If you are not sure how to assess the value of the property, you can always get in independently assess by an independent Buyers Advocates . Do Power Lines affect how much a bank will lend you? While banks generally do not take power lines into consideration, some lenders may have concerns due to the potential difficulty in selling the property if they need to repossess it. Are There Any Health Concerns With Living Near Power Lines? This is a tough question to answer. And it is tough only because there are no scientific proof. Health concerns associated with living near power lines primarily focus on the potential effects of electromagnetic fields (EMFs). Some studies suggest a possible link between prolonged exposure to EMFs and certain health issues, although the evidence is not conclusive. Regulatory bodies generally maintain that the levels of EMFs emitted by power lines are within safe limits. However, ongoing research continues to examine this issue to provide clearer guidance. Are there any scientific research into the health concerns with living near a powerline? Yes, there have been a few scientific research conducted to assess the health risks of living near power lines. However, to date, the results are not conclusive, but they do not suggest any negative effects associated with living near power lines. How Near is Considered Near to Power Lines? The perception of proximity to power lines varies based on personal preference. From feedback received from our home and investment property buying clients, the general consensus suggests, if a property is directly under or adjacent to transmission towers, most buyers will be concerned. About 50+% would also be concerned if power lines are within two streets of the property, while some would be uneasy just by the sight of the tower, even if the tower is 500 meters away. Should You Avoid Properties Near Power Lines? Whether you should avoid properties near power lines depends on several factors, including personal preferences and perceptions. Some individuals are concerned about potential health risks, despite the lack of conclusive scientific evidence. Others may worry about aesthetics and the potential impact on property value. Ultimately, your decision should be based on your comfort level and the importance you place on these considerations. There are also other potential positives with properties being near power lines though. Why Should You Buy a Property Near Power Lines? Buying a property near power lines can offer several advantages: Lower Purchase Price : Properties near power lines often have lower prices compared to similar properties in the area, providing an opportunity to purchase at a more affordable rate. Less Competition : Due to the concerns some buyers have about power lines, there may be less competition for these properties, making it easier to secure a purchase. Potential for Appreciation : As areas develop and become more desirable, properties near power lines do appreciate in value, potentially offering a good return on investment. Spacious Lots : Properties near power lines sometimes come with larger lots, and the surrounding land may be less developed. The decision to buy or not to buy a property near power lines should ultimately be based on a careful evaluation of the property's pros and cons, taking into account your personal preferences and long-term investment goals. An on-site inspection and consultation with an independent real estate professionals such as our buyers advocate service, can provide valuable insights. Does the Real Estate Sales Agent Need to Tell You a Property They Are Selling is Near Power Lines? Real estate agents are obligated to inform prospective buyers of any material facts that might affect their interest in the property. While "material fact" usually mean instances such as major crime, death, pests, etc, many agents do not see the need to disclose power lines, since there is no scientific evidence of health risks from power lines, and there are buyers who do not mind if they are not very close to the property. So, power lines can be a gray area when it comes to disclosures. However, to be certain, always ask point-blank, if the property is near Power Lines. Real estate sales agents are not supposed to lie , even if they do not have to be upfront with the facts. Most agents are doing the right thing, but there are rogue agents who will be "flexible" because it means they can fetch a higher price for the property they are selling. This is one reason why you should never buy sight unseen. Always inspect the property. Should You be Concerned With Power Lines Near the Property? Whether you should be concerned about power lines near a property depends on various factors, including personal preferences and perceptions. Some individuals worry about potential health risks, despite the lack of conclusive scientific evidence. Others are more concerned with aesthetics and the potential impact on property value. Ultimately, the decision should be based on your comfort level and the importance you place on these factors. Always Inspect the Property An on-site inspection is absolutely invaluable for assessing a property firsthand. Our cost-effective home inspection service , conducted by independent buyers advocates, is particularly popular with buyers who are unable to personally attend the inspections themselves. Our advocates provide a thorough, unbiased inspection of the property, ensuring every detail is covered within the timeframe allowed. We also include an independent appraisal , so you fully understand the true value of the property and avoid the risk of overpaying. Let us help you make informed decisions, no matter where you are. For more personalized advice or to arrange an inspection, please contact us . Your peace of mind is our priority.

How to buy your home in Melbourne and Australia? Buying your first home is one of life's most thrilling milestones. After decades of renting or living with parents, you are finally ready to step into a place you can proudly call " My Home ". It is an exciting journey, but for many home buyers, it can also feel very daunting - especially if you are buying your first home in today's competitive property market. Buying a property used to be as simple as browsing listings, attending the open inspections, and making an offer for the property. It was simple and straightforward. But thanks to modern day marketing, the process has become much more complex. Navigating these complexities without expert guidance could turn what should be your greatest asset into a financial burden. As Buyers Advocates based in Melbourne(Buyers Agents), our buyers agents have been buying properties for over 20 years. From our experience working with our home buying clients, it shows that many home buyers are not properly prepared to prevent themselves from buying a lemon or a dud property. We’re here to ensure your journey to homeownership is smooth, successful, and stress-free. This guide will show you how to prepare yourself for the exciting challenges of buying your home in Melbourne, what you need to watch out for and how to buy the home you want. Can you rely on Social Media for Property Answers? While it’s not uncommon for first-time homebuyers to feel overwhelmed, some unfortunately turn to " Dr. Google " and " Prof. Facebook " as their primary sources of property advice. Many home buyers believe that by simply Googling answers or crowd-sourcing advice from online communities, they’ve become instant property experts. But the truth is, social media can only provide generic, surface-level information. Every property is unique, and relying on general advice often leads to misunderstandings that can impact your purchase. As one of the best first home buyers agents in Melbourne, we frequently find ourselves correcting misinformation that clients have picked up online. When you’re buying your first home, expert, tailored guidance is invaluable. The right buyers advocates / buyers agents will ensure you avoid costly mistakes and help you secure your dream home with confidence. Don’t let misinformation guide your biggest purchase—trust the professionals who are dedicated to helping first home buyers succeed. Why Is There So Much Misinformation About Properties? Australia's property market is incredibly diverse, with hundreds of different sub-markets. From varying housing types to regions, suburbs, and buyer needs, there’s simply no one-size-fits-all answer when it comes to property. Our experience tells us that every buyer’s situation is unique. Unfortunately, many homebuyers fall into the trap of believing in quick-fix solutions or generic advice. If someone is offering a "one-size-fits-all" solution to your property needs, they're usually putting their own agenda first. Without a deep understanding of your personal goals and circumstances, you're left vulnerable to misconceptions, myths, and misinformation. That’s why it’s essential you get a tailored so you can make the best decision for your future. What all buyers should know in the Real Estate World Every home buyer should know, the whole real estate buying process is stacked against the typical buyer. A typical property seller has a trained selling agent protecting, negotiating and working for them, while a typical property buyer is usually left to their own devices. Buyers are usually left to deal with an experienced professional who had been trained to extract every cent from them. What most buyers don't know, is that regulations mandate that real estate agents have to look after the interest of whoever pays them. This link explains what all buyers need to know about the real estate agents . So, unless you're experienced and known what you're doing, the seller has the upper hand, with the sales agent protecting them. What preparations do you need to buy a property? In this article, we have compiled a step by step guide to owning your own home. We will also give you some facts which you must know, and some buying advice on how you can avoid problems later. As most people do not buy more than 3 properties in their lifetime, the mistakes covered here are applicable to both first home buyers and home buyers as well. How much income do you need to buy a house in Melbourne? This is probably the first question every homebuyer asks. The answer will depend on several factors, including your income, expenses, assets, and liabilities. To get a clearer picture, it’s always best to consult with a banker or mortgage broker. Generally, banks or lenders will offer to lend between 5 to 7 times your annual salary. For example, if you earn $100,000 a year, your borrowing capacity could range from $500,000 to $700,000, depending on the lender, your financial commitments, and other factors. If you're unsure where to start, we can connect you with our network of licensed mortgage brokers who have access to a wide range of lending products. Our Melbourne buyers agents are here to ensure you get expert, tailored advice for your property purchase. Simply ask us for a referral, and we’ll guide you through the process. Where should you buy a house in Melbourne? There isn't a one-size fits all answer to this. Some say the real estate in Melbourne is made up of over 100 different markets. Prices range from under $300,000 to well over $50,000,000, with apartments, studios, houses, attached houses, townhouses, bungalows, villas, chalets, life-style properties, etc. When our buyers advocates onboard a client, we start with understanding what they want in the property. Size of house, number of rooms, location, amenities, public transport, highway, etc, in an interactive deep dive session, covering over 80-100 questions. At the end of the session, both the client and our buyers advocates will understand the client's needs and wants and would have a good idea where to buy the house for them. What costs are involved in buying a house in Victoria? Unlike other investment products, real estate has a higher purchasing cost and selling cost, making it a long term investment commitment. The good news is, if you invest in the right property in the right location, growth is highly likely over time. Here is a run down of the costs involved in buying your house: Government Stamp Duty – Approximately 5.5% of the property price. It’s important to factor this in for budgeting purposes. Conveyancing Fees – Expect to pay between $1,200 and $1,500 (or more) for legal services to handle the paperwork. Building and Pest Inspections – Typically around $1,000. This step ensures your new home is structurally sound and pest-free. Due Diligence Searches – These costs vary depending on what needs to be investigated (e.g., zoning, flood risks, planning restrictions). Other intangible costs: Time – The time spent searching, conducting due diligence, attending inspections, and coordinating professionals. Hidden Costs – The cost of traveling (fuel, public transport fares) to inspections. Stress – Stress of dealing with agent's sneaky/pushy tactics, and dealing with uncertainties. 5 Steps to Kick Start Your First Home Buying As buyers agents, our First Home Buying service has helped many home buyers buy their dream homes quickly and confidently. We've witnessed the pain points and challenges home buyers face, and we've compiled these 5 top tips to help home buyers avoid the common pitfalls that can make the process overwhelming. With these insights, you'll be equipped to navigate your home buying journey with relative ease. 1. Get your finances ready The first step toward buying your dream home is getting your finances in order. Start by assessing how much cash you have available for the deposit, and if the funds aren't readily accessible in your bank account, consolidate them now. In a competitive buyer’s market, speed is critical. Also, explore the various grants and loan schemes available to you. These programs can provide significant support throughout your home-buying journey. Some of these grants and loan schemes are: If you are a first home buyer, you might be eligible for the First Home Loan Deposit Scheme (FHLDS) . First home buyers might also be eligible for the First Home Owners Grant (FHOG) Some single parent home buyers may be eligible for the Family Home Guarantee Scheme 2. Understand your borrowing power or serviceability This is how much a lender or a bank will lend you. Your assets, income, liabilities and expense patterns will determine how much lenders will lend you. This borrowing power, and the cash deposit you have, will determine the price range you should be looking for. Talk to us if you do not know your borrowing power. We can help you understand your budget, and put you in touch with our network of trusted mortgage brokers who can find a suitable mortgage for your first home. 3. Determine what you want in your property Depending on why you are buying a property, you should now consider what your needs and wants and priorities are. Do you want a house that is easy to maintain? Big property? Number of rooms, bathrooms, toilets, car spaces? Pool? Big backyard? Near amenities, shops? Near schools? Near public transport? Tree change? Sea Change? There are over 20-30 questions you can ask. The more precise you are, the easier it is to shortlist your property. But be careful though. This is a balancing act. Know what you need vs what you want vs what is available for your budget vs what is available in the market. As part of our home buying service , we help our clients define their needs and wants in their property. We have a list of over 80 questions which we ask our clients, to get them to start thinking of their properties. Feel free to have a chat with us, if you need assistance. It's FREE, afterall. 4. Your plans for the property In this step, you will now determine your future plans for your property. What are you plans for this property? What do you intend to do with your property? ​​ How long do you intend to stay in it? What do you intend to do after that? When do you intend to do that? Do you intend to turn it into am investment property? Acquire a second or third or more properties in x number of years? 5. Start searching 😜 Now that you know what you want, and what to look for, start searching. This is the most critical and most time consuming step. You'll be surprised, this is also very often the most stressful, most difficult, and most demoralising phase of your property purchase journey. Buyers who engaged our home buying services often told us they found themselves being outbidded and outsmarted by other property buyers when they're buying on their own. They always seem to be at least a few steps behind other buyers. They were demoralised and stressed with the whole property search process. We live in a modern world where we need 25 hours a day, 8 days a week; and we have 101 urgent things to catch up and another 101 reasons not to go through the real estate listings and not to go for that property inspection. This is why many people simply stop at step 4. Or did not do enough of step 5. If you are stuck at steps 4 or 5, our property buying concierge service can help you get what you want in less than half the time. Usually under 2 months, to be exact*. Have a look at our reasonably priced home buying plans . ​With the ever rising interest rates and changing property market conditions, many buyers are hesitant to take the plunge. Some are even paranoid given the seemingly uncertain market conditions. The more proactive buyers have resorted to engaging the services of buyers agents (or buyers advocates) to help improve their chances of finding good deals and good properties, while some prefer to sit on the fence and wait till the storm blows over. There are no right or wrong. Most home buyers are caught in this catch-22 situation. When everyone is not buying, they are afraid to buy. They only start their buy process when everyone else is buying. But they often find themselves competing with other buyers and being priced out of the market. Do you need a buyers agent to buy a house? No, you do not need to. It is not mandatory to engage the services of a buyers agent. However, buyer's agents can assist you in several ways: Define your housing preferences and ideal location. Explore alternative options and potential areas for your purchase. Select the finest properties from both public listings and off-market opportunities. Develop an effective buying strategy and determine the optimal time to make your purchase. Represent you at auctions or negotiate for the best possible price for the property. Manage the entire buying process on your behalf. Inspect the property on your behalf. Perform due diligence checks on your behalf. Liaise with pushy sales agents on your behalf. Serve as a mentor and guide throughout the entire purchasing journey. Provide peace of mind, knowing that you're in capable hands. Benefits of Using a Buyers Agent to help with your house purchase Buyers Agents or Buyers Advocates may charge you a fee for their services, but in return you get: Better access to properties. In addition to the public listings, we will include searching off-market sources for suitable properties. Buy in under 2 months. Speed of purchase is king. You get to enjoy the benefits of your properties sooner, enjoy growth sooner and pay less rent, if you are renting. Save money. In the bigger scheme of things, the buyers advocates fees are tiny. While a typical fee may cost about 2%, our experienced negotiators typically save buyers between $20k to 50k. Our largest savings to date is a whopping half a million. Yes, that is $500k saved on a $3 million house. A savings of 20%. Save time. Shortlist and inspect properties, liaise with agents. Save stress. We do the search and due diligence, and organise all due diligence inspections, conveyancing, etc. Still not sure about your next steps? Have a chat with us. Our home buying service will help home buyers get into the property market, and we can help you buy home faster and more confidently. Let's discuss if we are able to help you. Book in your free consultation .

We've often been asked by our New Zealand clients about the process and possibility of buying properties in Melbourne and Australia. In this article, we will explain how New Zealand citizens can buy Australian properties, reveal what they can and cannot buy, and explain the tax considerations, various costs and process of buying. How can New Zealand Citizens Buy a Property in Australia? Buying a house in Australia from New Zealand involves several steps, from understanding legal requirements to financing and property selection. Here’s a comprehensive guide to help you navigate the process: 1. Research and Understand the Market Market Analysis: Start by researching the Australian property market to identify the best locations for your investment. Consider factors like property prices, market trends, rental yields, and growth potential. Local Regulations: Familiarize yourself with local regulations and property laws in the state or territory where you intend to buy. 2. Determine Your Budget Financial Assessment: Assess your financial situation to determine how much you can afford. This includes savings, potential mortgage amounts, and additional costs. Currency Exchange: Consider currency exchange rates and potential fluctuations, as this can affect the overall cost. 3. Legal Requirements Foreign Investment Review Board (FIRB): Check if you need approval from the FIRB. New Zealand citizens are typically exempt from needing FIRB approval for residential properties. Legal Advice: Consult with a solicitor or conveyancer who is familiar with Australian property laws to help you navigate the legal requirements. 4. Financing Your Purchase Mortgage Options: Explore mortgage options available to non-residents or expatriates. Some Australian banks and lenders offer mortgages to New Zealand citizens. Pre-Approval: Obtain mortgage pre-approval to strengthen your position as a buyer and give you a clear understanding of your budget. 5. Engage Professionals Real Estate Agent: Hire a local real estate agent to assist with property searches, negotiations, and inspections. They can provide valuable insights into the local market. However, do note that because they are always sharing commissions with the listing agent, they need to work to the best interest of the seller, obtaining the best (highest) possible price for the property. Thus, you need to be diligent with your due diligence. Buyer’s Advocate: Consider engaging a buyer’s advocate who can represent your interests, especially if you are unfamiliar with the market or unable to visit properties in person. Genuine independent Buyers Advocates are the exact opposite of a real estate sales agent. They work for the best interest of the buyers, often finding the best property for the buyer at the best (lowest) possible price. 6. Property Search and Inspection Online Listings: Use online property portals like realestate.com.au and domain.com.au to search for properties. Virtual Tours: Take advantage of virtual tours and video walkthroughs if you cannot visit properties in person. Inspections: Arrange for building and pest inspections to ensure the property is in good condition and free of major defects. 7. Making an Offer Offer and Negotiation: Work with your real estate agent to make a competitive offer. Be prepared to negotiate terms and price. Contract of Sale: Once your offer is accepted, review the contract of sale with your solicitor or conveyancer. Ensure all conditions are clear and agreeable. 8. Settlement Process Deposit: Pay the deposit as stipulated in the contract of sale. Finalizing Mortgage: Finalize your mortgage application and ensure all financial arrangements are in place. Settlement: Your solicitor or conveyancer will handle the settlement process, including transferring the title and ensuring all legal documents are in order. 9. After Settlement Property Management: If you plan to rent out the property, consider hiring a property management company to handle tenant relations, maintenance, and rent collection. Insurance: Arrange for property insurance to protect your investment. Additional Tips for Buying Properties in Australia Other considerations New Zealand buyers need to consider include: Tax Considerations: Understand the tax implications of owning property in Australia, including capital gains tax and taxes from rental income. Consult with a tax advisor to ensure compliance with both Australian and New Zealand tax laws. Currency Transfer: Use a reliable currency transfer service to exchange funds, aiming for favorable exchange rates and low transfer fees. Visa Requirements As a New Zealand citizen, you have specific privileges and visa arrangements when it comes to living and working in Australia: 1. Special Category Visa (Subclass 444): Eligibility: Granted automatically upon arrival in Australia for New Zealand citizens. Rights: Allows you to live, work, and study in Australia indefinitely. Conditions: No formal application process or fees required, but you must meet health and character requirements. 2. Permanent Residency: Pathways: Various pathways to apply for permanent residency if you plan to settle long-term in Australia. Benefits: Access to additional rights and benefits, such as social security and Medicare. Tax Requirements As a New Zealand citizen buying property in Australia, you'll need to be aware of several tax obligations: 1. Stamp Duty: What It Is: A state government tax on property transactions. Rates: Vary by state and property value. For example, in Victoria, stamp duty on a $600,000 property could be around $31,070. Calculators: Use state government calculators for precise amounts (e.g., Victoria State Revenue Office). 2. Goods and Services Tax (GST): When It Applies: Generally not applicable to residential property purchases, but it can apply to new properties or commercial real estate. If in doubt seek advice from a reputable buyers advocate or clarify with the sales agent. 3. Capital Gains Tax (CGT): What It Is: Tax on the profit from the sale of an investment property. Rates: Included in your income tax, with rates varying based on your total income and holding period of the property. Exemptions: Main residence exemptions may apply, reducing or eliminating CGT for properties used as your primary home. 4. Income Tax on Rental Income: Requirement: Must declare any rental income from Australian property in your tax returns. Deductions: Eligible expenses like property management fees, repairs, and maintenance can be deducted from rental income. 5. Land Tax: What It Is: Annual tax on the value of land owned. Rates and Thresholds: Vary by state and territory. Exemptions may apply for principal places of residence. 6. Foreign Investment Review Board (FIRB) Approval: Exemption: New Zealand citizens typically do not require FIRB approval for residential property purchases. Commercial Property: If investing in commercial real estate, FIRB rules may differ, and approval might be needed. If you're buying through our purchase services, our conveyancers will provide the advice applicable to your individual situation. Costs of Purchase 1. Legal and Conveyancing Fees: Cost Range: $800 to $2,500. Services Covered: Title searches, contract reviews, settlement handling. Ensures property is legally transferred into the new owner's name. From Advice from Experience: Conveyancers is a detailed process requiring a good understanding of the laws, costs and apportioning of cost of debts, fees, and expenses. A good conveyancer will ensure the costs of transfers and payments of any arrears by the vendors are correctly calculated and offset against the purchase price of the property. 2. Building and Pest Inspections: Cost Range: $500 to $600 per inspection, or $700 to $1,000 for combined services. Importance: Ensures the property is structurally sound and free from pests. Advice from Experience:   Depending on the location of the property, the risk of termites, insect damage and structural issues can be rather high. Always get an inspection done by a reputable building and pest inspector. 3. Lender’s Mortgage Insurance (LMI): When Required: If your deposit is less than 20% of the property value. Why it can be useful: In the rare situation where you are unable to continue payment for your property, the lender can tap into this LMI to pay for the arrears. Cost: 1% to 3% of the loan amount. For a $500,000 loan, LMI could range from $8,000 to $15,000. 4. Mortgage Application and Valuation Fees: These fees are often bundled in the mortgage. Application Fee: $200 to $600. Valuation Fee: $200 to $400. 5. Utility Connection Fees: Cost: $50 to $200 per utility (electricity, gas, water, internet). 6. Insurance Costs: Building Insurance: $1,000 to $2,000 annually. Contents Insurance: $500 to $1,000 annually (if applicable). Summary New Zealand citizens benefit from simplified visa requirements and typically do not need FIRB approval for residential properties when buying a house in Australia. However, navigating various tax obligations such as stamp duty, income tax on rental income, and potentially capital gains tax is essential. Engaging professionals like solicitors, conveyancers, and real estate agents can help manage these requirements and ensure a smooth transaction process. By following these steps and engaging the right professionals, you can successfully purchase a house in Australia from New Zealand. Proper planning, thorough research, and professional advice are key to a smooth and successful transaction.

Wondering why are values of properties in suburbs like Glen Waverley ever growing? The answer may lie in the amenities. And in the case of certain pockets in Glen Waverley in Melbourne, the secret is the Secondary College. Glen Waverley Secondary College has consistently been one of the top public secondary colleges in Victoria. They are one of the few good public schools in Melbourne which have consistently produced top students. As buyers agents based in Glen Waverley, home buyers have been consistently asking us to help them break into the ultra competitive property market in Glen Waverley. We've been honoured to have helped many families buy their homes in the Glen Waverley Secondary College School Zone (GWSZ), enabling their children's enrollment into the Glen Waverley Secondary College (GWSC), one of the top government secondary colleges in Victoria. For more information about Glen Waverley Secondary College the school zone and Glen Waverley, follow our link Glen Waverley Secondary College Properties Buyer's Advocate . Ask us about finding a property in the Glen Waverley Secondary College School Zone. Get the facts right. Get in touch with us. If your property criteria, your kids' criteria and your circumstances fits the school enrolment criteria, we'll ensure you get the right property to qualify for the Glen Waverley Secondary College (GWSC/GWSZ). No other buyer agents can be so confident in getting this right. Where is the Glen Waverley Secondary College School Zone? The Glen Waverley Secondary College school zone (GWSC/GWSZ) is a tiny area of about 1-2 km around the school. Compared to other Secondary Schools of similar size in the Eastern Melbourne suburbs, Glen Waverley Secondary College has a relatively small catchment area. This is primarily due to the fact that the secondary college is flanked by a few other secondary colleges in the area, in and around Glen Waverley. The main secondary colleges flanking Glen Waverley Secondary College includes Mount Waverley Secondary College (MWSC), Highvale Secondary College (HSC) and Brentwood Secondary College (BSC). Why is Glen Waverley Secondary College so popular? Glen Waverley Secondary College has been consistently producing student with outstanding VCE results. It is one of the more competitive secondary schools in the Eastern Melbourne area, due to the quality of the students it attract, and the academic curriculum. As the Glen Waverley Secondary College catchment area is tiny, compared to the catchment areas of similar-sized schools, the school has to enforce its enrolment criteria very strictly. Students have to meet up to 5 criteria, before being considered for selection. These criteria includes where the student is residing in, if the student has any other siblings in the college, etc. The enforcement of these criteria are tweaked annually according to the expected student intake. Criterias are known to be added or modified or removed. How much more expensive is a house in the Glen Waverley Secondary School Zone? Because of the popularity of the Glen Waverley Secondary College and the relatively small catchment area, property prices in the Glen Waverley Secondary School Zone (GWSC) commands a significant premium over similar properties outside the school zone. How much more expensive the property is, would depend on its size, condition. Below would give you an indicative guide to the pricing differential: How much more expensive are houses in the Glen Waverley Secondary School Zone? As a ballpark guide, a typical house in the Glen Waverley Secondary school zone can cost approximately $500,000 to $700,000 more than a similar house outside the school zone. However, because houses in the school zones are usually newer, larger, and in a better condition, due to the ownership demographics, it is usually you may end up paying significantly more for a house in the school zone. How much more expensive are townhouses in the Glen Waverley Secondary School Zone? As a ballpark guide, a typical townhouse house in the Glen Waverley Secondary school zone can usually cost approximately $200,000-$300,000 more than a similar house outside the school zone. Newer townhouses in the school zones are also built to a higher specifications and standards. This is still significantly cheaper than a house in the school zone. How much more expensive are apartments in the Glen Waverley Secondary School Zone? As a ballpark guide, a typical apartment in the Glen Waverley Secondary school zone can usually cost approximate $100,000 to $200,000 more than a similar house outside the school zone. However, note that there isn't a lot of apartments outside the school zone, so, if you do not have a big budget but would still like to get into the Glen Waverley Secondary School Zone, apartments could be your only option. Do note though, the school is aware of residency fraud amongst certain groups of students. There are checks and systems in place to identify fraudulent addresses. Also, not all apartments are eligible for school enrolment. Is it worth Buying a Property in the Glen Waverley Secondary School Zone? If you are keen to enrol in the Glen Waverley Secondary School, then buying a property in the Glen Waverley Secondary College School Zone, is definitely the only way for a chance to get into the school. Enrolment into the school is no longer guaranteed, due to the high fraudulent claims of residency amongst certain groups of community. We collect feedback from students and staff from the school, and the feedback are collated and published in the premium section of the blog, available for separate purchase. Why is it important to get the right property in Glen Waverley? Because of intense enrolment competition into Glen Waverley Secondary College, prices of properties in Glen Waverley vary a lot. The right properties in the GWSZ school catchment area can be worth up to half a million dollars more than a similar property outside the school zone. What this means for you is, you need to choose the right properties, depending on your needs, so you do not overpay or you get into the school zone. How to find the right property in the Glen Waverley Secondary School Zone? To find the right property for Glen Waverley Secondary College, you will need to know where the catchment is. You need to be exact. Glen Waverley Secondary College has been known to enforce its enrolment criteria very strictly. Students had been rejected even if they are just 1 house on the wrong side of the school zone. You will also need to know the prevailing enrolment criteria, etc. If you need help to find the right property for the school, get in touch with us. We have been helping clients find the right property for the school since we started our buyers advocacy business. And every single one of our clients buying their homes for the school, have been able to buy one that qualifies. What happens if you are living just outside the school zone? Well, I'll say tough luck. Chances are, you will end up in your local school. So, when it comes to enrolment, and selecting your secondary school, it will help if you simply apply for your local school. Get in touch for more details. Some other useful Glen Waverley Secondary College resources: Glen Waverley Buyers Agents Head over to Heraldsun to check how Victorian schools had been performing over the last 5 years. How every victorian school performed in naplan over five years.

How do you buy your first home in Melbourne Australia? Buying your first home is an exciting phase in your life. After decades of staying with parents and renting, you can finally look forward to staying in a place called "My Home". It is exciting, but it can also be very daunting, especially if it is going to be your first home. Buying a property used to be as simple as looking through the listings, attending the open for inspections, and making an offer for the property. It was simple. Thanks to modern day marketing, it is unfortunately full of complexities now. Given that it is possibly the single largest commitment you make in your life. Doing it wrong, and it will become your biggest liability in life. As Melbourne based Buyers Advocates, we have been buying properties for over 20 years. Our experience working with our home buying clients shows that many home buyers are not properly prepared to stop themselves from buying a lemon or a dud property. While it is usually not the home buyers fault for being ill prepared, some buyers had ignorantly believed Dr Google and Prof Facebook are fantastic sources of information. Many believed they had instantly become property experts simply by googling for answers and seeking advice from free property communities. You would not believe the hard time we have, trying to correct the client's misinformation. Every home buyer should know, the whole real estate buying process is stacked against the typical buyer. In this article, we have compiled the top 10 tips for a home buyer. We will also give you some facts which you must know, and some buying advice on how you can avoid problems later. As most people do not buy more than 3 properties in their lifetime, these mistakes are applicable to both first home buyers and home buyers as well. 1. What is doing Due Diligence? Due diligence? What's that? Home buyers (especially in Victoria) would have heard of the term called "due diligence". But what exactly is this "due diligence" thingy? What should due diligence include? How should you do it? As you would expect, due diligence is just a generic term. It is unique to each buyer. It is different for different buyers, simply because no 2 properties are exactly the same (even if they are right next to each other), and no 2 buyers have the same requirements. It is a topic on its own, which we will cover in the coming weeks. Essentially, just like any thing you buy, it is all about ensuring the property is fit for purpose. Fit for YOUR PURPOSE, not what the real estate vendor agent tells you. Check-in into our blogs in coming weeks for tips on how to do this. 2. How do I do my Property Research and Preparation? Judging by the fact that most well staged properties can easily be sold for over $50k more than non-staged ones, most buyers are usually attracted by the staged photos in real estate websites and glossy brochures. But do you know what isn't mentioned in these sales materials? Do you know what the location is really like? What is around the property? What is the crime rates? Where are the public transport and schools? Will the property be acquired for road expansion or any public works? No two houses are the same, even if they look the same and are right next to each other. Throughout our 20+ years of property buying experience, we've seen countless instances where one property is affected by issues such as flood, contaminated soil, poor quality soil, while the property next door isn't. Do make sure you include these checks in your research, if you are concerned with them. 3. How do I determine my Budget, and Stick to my Budget? What is your budget? How much deposit do you have for the purchase? How much will a bank or lender lend you? Will any lender even lend you? How much can you spend on the property? How much are you prepared to pay for the property? How much is the property really worth? Have you factored in other necessary expenses? What is your buffer? We've come across many home buyers who do not have a good idea of what expenses they have to budget for, in a property purchase. It is common to see home buyers start their house search without any idea of their serviceability. Serviceability is how much a bank or lender will lend you. Everyone is different, and your serviceability depends on your income, expenses, assets and liabilities. A good mortgage broker will give you a good idea of what you can borrow, and organise for a lender to pre-approve your lending. When you know your serviceability, you will have a better idea of what types of property you should be looking for. But, do you have a good idea of what the property is worth? Many have no idea if the "Statement of Information" (price guide) provided in the listing is fair, underquoted, or in some cases, over-estimated. This is where it gets complex. One thing which you need to understand, is that, it is the real estate selling agent's job to hype up demand and interest for the property, in order to sell the property at the highest possible price. Their commission is, afterall, pegged to the sold price of the property. The higher they can sell the property for, the higher their commission is. So, if you are easily influenced by the market hype (# 5 below), you will more likely than not, believe the selling agents, and you will usually be led into an "invisible, closed auction" over the phone, between 'another interested buyer, after you put in your offer'. Most buyers will end up paying top dollar for the property. Buyers without the right property market insight and advice will often over pay for the property, and some may find themselves unable to service the mortgage in the long run. So, instead of enjoying the new home which they had fought so hard for, they were struggling to afford it. 4. How do I Knowing the Full Cost of Buying a House? What other expenses do you need to be aware of? Stamp duties, conveyancing fees, buyer's agent fees (if you're using a buyer's advocate to help with your purchase), building and pest inspection fees, mortgage related costs, moving costs, setting up cost, repair or renovation costs, etc. Every property is different, and the individual buyer's needs and wants often dictate what expenses are required. As a guide, these expenses can cost between 5-15% of the property price. The buyer's advocates at Concierge Buyers Advocates can provide you with an idea of costs, if you need one, Make sure you include the relevant ones in your budget and due diligence studies. 5. How do I prevent myself from being Influenced by the Market? In times like these where the media is hyping up the Fear Of Missing Out (FOMO) mentality of property buyers, are you getting frustrated when you keep missing out on properties you like? Were you scared into not buying a property in 2020, because news and 'experts' were predicting 40-60% falls in house prices due to the Coronavirus pandemic? If you do, like most people, you are easily affected by market and media hype and scare campaigns. Read any economics textbooks, and you will know, prices of anything (properties included) are affected by supply and demand. But do you know what cause these supply and demand shifts? Do you know, in the age of internet, supply and demand can be easily influenced by media reports and the fake news on social media? And did you know, social media such as Facebook, WhatsApp, Instagram, etc, are the biggest disseminator of fake news? - Forbes How do you differentiate facts from fakes? How do you know if a fake news will eventually affect property prices (positively or negatively). Unless you are on the ground and in touch with the happenings in the real estate industry, like a true independent buyer's advocate, you would not know, and would not be able to predict when and how the property market will turn. News from official news outlets are reliable, however, reliable news only report facts. ie, they only report things after they had happened. This means, if you are waiting to read about the next property hotspots from news media, it has already happened. It is already too late. Take for example, in recent weeks, you would have read about properties in regional areas growing by up to 20%. Most people will now start searching for regional properties AFTER they read the news, but it is already too late. Will the regional areas keep rising? Where is the demand and economy to support the continued growth? As truly independent buyer's agents, we buy all around Victoria, regional areas included. We had seen increased demand in regional areas from 2019, prior to the pandemic. So, back in 2019, we forecasted the growth in regional properties. No one believed our predictions. The so-called 'experts' all proclaimed regional properties will NEVER grow more than CPI. But we had bought 12 regional properties from late 2019 to 2020 for our clients. Every single one of them have grown at least 20% in value. One performed beyond our expectation, and had actually grown a massive 55%. This is the example. Buyers who are just preparing to buy into regional areas after reading recent media, will be disappointed. They have missed the boat. Most regional areas have peaked. It is not going to grow too much from here, for the foreseeable future. 6. How do I read the Contract of Sales and Know it can do what I it to do? A contract of sale is often over 100 pages long. It contains an set of important information which every property buyer should know, as it will affect your purchase decision. But do you ever read everything and understood everything? Do you know what the implications of these legal documents are? How will they affect you and what you intend to do with the property? Do you know what to look for? Buyers Advocates like us read an average of 3 to 5 contract of sales every week. We've seen contracts so convoluted that it rewrites almost every clause of the standard contract. Unless you are in the property or real estate industry, over 80% of the buyers do not understand how they or their decision to purchase can be affected by information contained in these contracts of sales. It is always good to spend a few hundred dollars to have a good lawyer review the contract before you make your decision. Having said that, not all lawyers are the same. A good property lawyer will try to understand what you intend to do with the property, and review the contract with your intent in mind. His/her feedback will be tailored to your needs. 7. What if I am Frustrated with Property Search? So, you've been searching for months, attended hundreds of disappointing open for inspections, and failed to secure your dream home again and again... The selling agents are misleading you, you've been tricked into a good property that seems cheap, but were out-bidded by someone else who had a fatter budget. You're disappointed. You're disheartened. You wanted to give up. You are fed up! At this stage, almost all home buyers tend to commit their biggest sin. They put 'all-in' to buy the next property that come along. This can usually end up as one of their biggest mistake, but they can justify it with their "frustration". It is a mistake that can bite them for years to come. Instead of buying when you're frustrated, rest. Take some time off. If you have been missing on good properties, you are probably looking at the wrong place or have the wrong expectations. Take some time off, do a post-mortem study of your failures, review your criteria, and tweak them to suit the market. Remember, in a hot market, market conditions change every month. Prices would have moved. There could be more (or less) stock available in the market. There could be new regulatory changes, which can affect property prices. It is also probably time to consider engaging a buyer's advocate to help speed up your purchase. In a hot market, each month of delay can mean the property prices would have increased by another 2-5%. Good Buyer's Advocates who knows the market well, will help with your review. They will look at what you want, what you had been looking for, and work with you to tweak your expectations, and help you find your home. They are realistic with their expectations and will also search in places where most people would never have looked at. They have the connections into the genuine off-market properties, to help improve your chances of buying the right property. They do charge a fee of between 2-3% though, but, hey... remember, every month you save in your acquisition is saving you between 2-5% in a hot market. The faster you buy, the more you save. It's a no brainer. If you can just buy your home 1 month faster, you would have recovered the cost of the Buyer's Agent fees. 8. Do I need a professional inspection during an Open for Inspection? Most buyers are not aware of what you need to do during an open for inspection. Many believed the inspection is just for you to have a look and appreciate the property. They are partly correct. It is to the vendor agent's benefit that you visit and appreciate the property. But you should really look pass the pretty furnitures, beautifully staged beds, dining sets, etc. Furnitures are usually not included in the purchase, in case you're wondering. Picture yourself in the bare house. Do you know what you should be looking for? Do you know what you need in the house? Unless you have been inspecting properties day in and day out, most buyers are there to appreciate the staged presentation during the inspection. They are impressed with how well and glamorous the property is presented. Do you know what's lurking under the carpet? What's in the roof? Do you know what is really underneath the perfectly painted walls? How do you tell if there is an issue with the property in the short 10 mins inspection? Always have the property professionally inspected. And yes, inspections are also recommended for brand new buildings. You'll be surprised how many corners are cut to complete the build. We've seen brand new homes with over 30 pages of defects. At Concierge Buyers Advocates, we are trained builders, and on average we inspect between 50-80 properties a month, and read hundreds of building inspection reports a year. We know what to look for, and we should be looking, during the 10 minutes inspection. At the end of each open for inspection, our experienced buyer's advocate, will usually have a good idea of the condition of the building, and whether the building is worth presenting to our clients. 9. What is the Role of the Real Estate Selling Agent? Successful real estate agents are usually the friendliest agent who always seem to understand what you want. But do they really care what you want? Or are they just trying to convince you that you should want the property? Remember, their job is to sell the property. Their commissions are directly proportional to how much they can sell the house for. The more you pay for it, they bigger their commission is. Most home buyers do not realise the selling agents are working for the VENDOR. They work for the SELLER, not you. Unless you have entered into an exclusive Buyer's Agent Agreement with the agent, all agents are working for the sellers. They are legally required to protect the interest of their client, the Mr/Mrs Seller. Smart buyers have started to realise this, and, they have started engaging buyer's agents under exclusive agreements, to outsmart the market, level the playing field, and to ensure they have an agent who understands the game, and who is protecting their buying interest. 10. Should I Doing it Yourself (DIY), buy my own house? You've realised that the sellers have agents to protect them in the sales transaction. And you might still decide to save the small 2-3% fee, and chose to rely on information and 'experts' in the faceless world of internet, for buying advice. While some advice are relevant to you, over 98% of the advice are generic. You'll need to know what's fact, what's fake, and how the advice is relevant to your situation. And, if anything goes wrong, will they have your back? No one from these free sources are obliged to help you get out of trouble. We've many clients who came to us after they received the wrong advice from these free resources. One bought a land with 5 different overlays and issues. He would have bought a $250k lemon, if he had contacted us 2 days later. So, be wary of such free advice. Let's look at this analogy. Buying a house is probably your biggest commitment. It is as significant as fronting up to a judge in court. Will you attend court without a solicitor on your side? Will you choose to represent yourself, or do you prefer to save a few thousand dollars and have your faith and trust in the experts' advice sourced from the internet and social media? Bonus # 11. How reliable is Dr Google and Prof Facebook? As mentioned at the start of this blog, the amount of fake new and disinformation in Google and Facebook is shocking! You wouldn't believe how many clients came to us to help them, because they have no idea what they are doing, and simply follow instructions from the faceless people providing these misinformation. Sure, some of these information may work for 1 or 2 situations for a particular buyer in a particular area, but you will not know if it works for you, without understand the situation and concept. Most people following the instructions of the faceless people in Google and Facebook ended up in trouble. Afterall, they have no legal obligations to give you the right information. You have no recourse if you are naive enough to follow their instructions blindly. Sometimes, the bad situation can be corrected. But most times, they are in deep trouble and there isn't any way to help them other than helping them find the best lawyer or builder to fix their problems. So, if you are seriously considering buying properties, get proper advice. It may cost you 2 to 3% of the property price, but the savings in time, frustration when you get the right property for yourself, is priceless. The 2021-2023 Property Market 2021-2023 is going to be another interesting year. The 40-60% property price crash of 2020 did not eventuate. No one expected the property market not to collapse, when we publish our advice. But because we are on the ground, and in sync with the property market, we believed our observation. Our predictions back in July 2020 believed the prices will be stable, and could even rise by end of 2020. It did. What's going to happen in 2021-2023? As at Aug 2021, we've already seen prices of property grow between 20-25%, since 2021. That's a grow of between 1 to 2 % EVERY month! We're expecting the price boom to continue, right into 2023. The pace is likely to slow, as government wind back the incentives. But in most areas, prices will easily grow 10%. But there is a catch. Not all areas will grow at the same rate. Not all types of properties will grow at the same rate. Some will even continue to consolidate. Do you know where to buy, what to buy? Where should your avoid and what should your avoid? If you are looking to buy you next home, here is how we can help: Tailored Advice - We find out what you want, your budget, and tailor our advice to your needs and wants. We will help ensure you buy the right property, at the right price. Buy with confidence and buy with the right property insight, based on facts and data. No more wasted weekends, no more guesswork, no more over-paying for your home. Buyer's Agency working FOR YOU - As Melbourne's fastest growing buyer's agency, we've been involved in over $25million of property purchase in 2020 alone! Yes, while everyone is predicting a property glut, and NOT buying and waiting to grab a good bargain, our property insight, understanding and accurate forecast of the property market had given us the confidence to help our buying clients buy over $15million worth of properties in the first 7 months of 2021. Now, see who had really grabbed a bargain? Low Fees - We believe in helping our clients secure good properties and stop our clients spending too much and wasting too much time on endless house search. We believe in reducing our operating costs, and we believe in returning these savings to our clients, by way of low fees. As such, we have one of the lowest buyer's agent fees in Melbourne. Found a lower fee? Ask about our low fees guarantee. Have a chat with us, let us discuss your property purchase journey and explore how we can work together on your purchase.

How do you buy a house in Melbourne Australia? Buying your first home is an exciting phase in your life. After decades of staying with parents and renting, you can finally look forward to staying in a place called "My Home". It is exciting, but it can also be very daunting, especially if it is going to be your first home. Buying a property used to be as simple as looking through the listings, attending the open for inspections, and making an offer for the property. It was simple. Thanks to modern day marketing, it is unfortunately full of complexities now. Given that it is possibly the single largest commitment you make in your life. Doing it wrong, and it will become your biggest liability in life. As Melbourne based Buyers Advocates, we have been buying properties for over 20 years. Our experience working with our home buying clients shows that many home buyers are not properly prepared to stop themselves from buying a lemon or a dud property. While it is usually not the home buyers fault for being ill prepared, some buyers had ignorantly believed Dr Google and Prof Facebook are fantastic sources of information. Many believed they had instantly become property experts simply by googling for answers and seeking advice from free property communities. You would not believe the hard time we have trying to correct the client's misinformation. Every home buyer should know, the whole real estate buying process is stacked against the typical buyer. Ten Costly Home Buyers Mistakes to Avoid In this article, we have compiled the top 10 common mistakes of a home buyer. We will also give you some facts which you have to know, and some buying tips on how you can avoid them. As most people do not buy more than 3 properties in their lifetime, these mistakes are applicable to both first home buyers and home buyers as well. 1. Not Doing Due Diligence Due diligence? What's that? Home buyers (especially in Victoria) would have heard of the term called "due diligence". But what exactly is this "due diligence" thingy? What should it include? How should you do it? As you would expect, due diligence is just a generic term. It is unique to each buyer. It is different for different buyers, simply because no 2 properties are exactly the same (even if they are right next to each other), and no 2 buyers have the same requirements. It is a topic on its own, which we will cover in the coming weeks. Essentially, just like any thing you buy, it is all about ensuring the property is fit for purpose. Fit for YOUR PURPOSE, not what the real estate vendor agent tells you. Check-in into our blogs in coming weeks for tips on how to do this. 2. Not Doing Enough Property Research and Preparation Judging by the fact that most well staged properties can easily be sold for over $50k more than non-staged ones, most buyers are usually attracted by the staged photos in real estate websites and glossy brochures. But do you know what isn't mentioned in these sales materials? Do you know what the location is really like? What is around the property? What is the crime rates? Where are the public transport and schools? Will the property be acquired for road expansion or any public works? No two houses are the same, even if they look the same and are right next to each other. Throughout our 20+ years of property buying experience, we've seen countless instances where one property is affected by issues such as flood, contaminated soil, poor quality soil, while the property next door isn't. Do make sure you include these checks in your research, if you are concerned with them. 3. Not Knowing Your Budget, and Not Sticking to Your Budget What is your budget? How much deposit do you have for the purchase? How much will a bank or lender lend you? Will any lender even lend you? How much can you spend on the property? How much are you prepared to pay for the property? How much is the property really worth? Have you factored in other necessary expenses? What is your buffer? We've come across many home buyers who do not have a good idea of what expenses they have to budget for, in a property purchase. It is common to see home buyers start their house search without any idea of their serviceability. Serviceability is how much a bank or lender will lend you. Everyone is different, and your serviceability depends on your income, expenses, assets and liabilities. A good mortgage broker will give you a good idea of what you can borrow, and organise for a lender to pre-approve your lending. When you know your serviceability, you will have a better idea of what types of property you should be looking for. But, do you have a good idea of what the property is worth? Many have no idea if the "Statement of Information" (price guide) provided in the listing is fair, underquoted, or in some cases, over-estimated. This is where it gets complex. One thing which you need to understand, is that, it is the real estate selling agent's job to hype up demand and interest for the property, in order to sell the property at the highest possible price. Their commission is, afterall, pegged to the sold price of the property. The higher they can sell the property for, the higher their commission is. So, if you are easily influenced by the market hype (# 5 below), you will more likely than not, believe the selling agents, and you will usually be led into an "invisible, closed auction" over the phone, between 'another interested buyer, after you put in your offer'. Most buyers will end up paying top dollar for the property. Buyers without the right property market insight and advice will often over pay for the property, and some may find themselves unable to service the mortgage in the long run. So, instead of enjoying the new home which they had fought so hard for, they were struggling to afford it. 4. Not Knowing the Full Cost of Buying a House What other expenses do you need to be aware of? Stamp duties, conveyancing fees, buyer's agent fees (if you're using a buyer's advocate to help with your purchase), building and pest inspection fees, mortgage related costs, moving costs, setting up cost, repair or renovation costs, etc. Every property is different, and the individual buyer's needs and wants often dictate what expenses are required. As a guide, these expenses can cost between 5-15% of the property price. The buyer's advocates at Concierge Buyers Advocates can provide you with an idea of costs, if you need one, Make sure you include the relevant ones in your budget and due diligence studies. 5. Being Easily Influenced by the Market In times like these where the media is hyping up the Fear Of Missing Out (FOMO) mentality of property buyers, are you getting frustrated when you keep missing out on properties you like? Were you scared into not buying a property in 2020, because news and 'experts' were predicting 40-60% falls in house prices due to the Coronavirus pandemic? If you do, like most people, you are easily affected by market and media hype and scare campaigns. Read any economics textbooks, and you will know, prices of anything (properties included) are affected by supply and demand. But do you know what cause these supply and demand shifts? Do you know, in the age of internet, supply and demand can be easily influenced by media reports and the fake news on social media? And did you know, social media such as Facebook, WhatsApp, Instagram, etc, are the biggest disseminator of fake news? - Forbes How do you differentiate facts from fakes? How do you know if a fake news will eventually affect property prices (positively or negatively). Unless you are on the ground and in touch with the happenings in the real estate industry, like a true independent buyer's advocate, you would not know, and would not be able to predict when and how the property market will turn. News from official news outlets are reliable, however, reliable news only report facts. ie, they only report things after they had happened. This means, if you are waiting to read about the next property hotspots from news media, it has already happened. It is already too late. Take for example, in recent weeks, you would have read about properties in regional areas growing by up to 20%. Most people will now start searching for regional properties AFTER they read the news, but it is already too late. Will the regional areas keep rising? Where is the demand and economy to support the continued growth? As truly independent buyer's agents, we buy all around Victoria, regional areas included. We had seen increased demand in regional areas from 2019, prior to the pandemic. So, back in 2019, we forecasted the growth in regional properties. No one believed our predictions. The so-called 'experts' all proclaimed regional properties will NEVER grow more than CPI. But we had bought 12 regional properties from late 2019 to 2020 for our clients. Every single one of them have grown at least 20% in value. One performed beyond our expectation, and had actually grown a massive 55%. This is the example. Buyers who are just preparing to buy into regional areas after reading recent media, will be disappointed. They have missed the boat. Most regional areas have peaked. It is not going to grow too much from here, for the foreseeable future. 6. Not Understanding the Contract of Sales and What you Can or Cannot do A contract of sale is often over 100 pages long. It contains an set of important information which every property buyer should know, as it will affect your purchase decision. But do you ever read everything and understood everything? Do you know what the implications of these legal documents are? How will they affect you and what you intend to do with the property? Do you know what to look for? Buyers Advocates like us read an average of 3 to 5 contract of sales every week. We've seen contracts so convoluted that it rewrites almost every clause of the standard contract. Unless you are in the property or real estate industry, over 80% of the buyers do not understand how they or their decision to purchase can be affected by information contained in these contracts of sales. It is always good to spend a few hundred dollars to have a good lawyer review the contract before you make your decision. Having said that, not all lawyers are the same. A good property lawyer will try to understand what you intend to do with the property, and review the contract with your intent in mind. His/her feedback will be tailored to your needs. 7. Fed-up? Don't buy. So, you've been searching for months, attended hundreds of disappointing open for inspections, and failed to secure your dream home again and again... The selling agents are misleading you, you've been tricked into a good property that seems cheap, but were out-bidded by someone else who had a fatter budget. You're disappointed. You're disheartened. You wanted to give up. You are fed up! At this stage, almost all home buyers tend to commit their biggest sin. They put 'all-in' to buy the next property that come along. This can usually end up as one of their biggest mistake, but they can justify it with their "frustration". It is a mistake that can bite them for years to come. Instead of buying when you're frustrated, rest. Take some time off. If you have been missing on good properties, you are probably looking at the wrong place or have the wrong expectations. Take some time off, do a post-mortem study of your failures, review your criteria, and tweak them to suit the market. Remember, in a hot market, market conditions change every month. Prices would have moved. There could be more (or less) stock available in the market. There could be new regulatory changes, which can affect property prices. It is also probably time to consider engaging a buyer's advocate to help speed up your purchase. In a hot market, each month of delay can mean the property prices would have increased by another 2-5%. Good Buyer's Advocates who knows the market well, will help with your review. They will look at what you want, what you had been looking for, and work with you to tweak your expectations, and help you find your home. They are realistic with their expectations and will also search in places where most people would never have looked at. They have the connections into the genuine off-market properties, to help improve your chances of buying the right property. They do charge a fee of between 2-3% though, but, hey... remember, every month you save in your acquisition is saving you between 2-5% in a hot market. The faster you buy, the more you save. It's a no brainer. If you can just buy your home 1 month faster, you would have recovered the cost of the Buyer's Agent fees. 8. Not organising a Professional Inspection Most buyers are not aware of what you need to do during an open for inspection. Many believed the inspection is just for you to have a look and appreciate the property. They are partly correct. It is to the vendor agent's benefit that you visit and appreciate the property. But you should really look pass the pretty furnitures, beautifully staged beds, dining sets, etc. Furnitures are usually not included in the purchase, in case you're wondering. Picture yourself in the bare house. Do you know what you should be looking for? Do you know what you need in the house? Unless you have been inspecting properties day in and day out, most buyers are there to appreciate the staged presentation during the inspection. They are impressed with how well and glamorous the property is presented. Do you know what's lurking under the carpet? What's in the roof? Do you know what is really underneath the perfectly painted walls? How do you tell if there is an issue with the property in the short 10 mins inspection? Always have the property professionally inspected. And yes, inspections are also recommended for brand new buildings. You'll be surprised how many corners are cut to complete the build. We've seen brand new homes with over 30 pages of defects. At Concierge Buyers Advocates, we are trained builders, and on average we inspect between 50-80 properties a month, and read hundreds of building inspection reports a year. We know what to look for, and we should be looking, during the 10 minutes inspection. At the end of each open for inspection, our experienced buyer's advocate, will usually have a good idea of the condition of the building, and whether the building is worth presenting to our clients. 9. Not Understanding the Real Estate Selling Agent's Role Successful real estate agents are usually the friendliest agent who always seem to understand what you want. But do they really care what you want? Or are they just trying to convince you that you should want the property? Remember, their job is to sell the property. Their commissions are directly proportional to how much they can sell the house for. The more you pay for it, they bigger their commission is. Most home buyers do not realise the selling agents are working for the VENDOR. They work for the SELLER, not you. Unless you have entered into an exclusive Buyer's Agent Agreement with the agent, all agents are working for the sellers. They are legally required to protect the interest of their client, the Mr/Mrs Seller. Smart buyers have started to realise this, and, they have started engaging buyer's agents under exclusive agreements, to level the playing field, and to ensure they have an agent who understands the game, and who is protecting their buying interest. 10. Doing it Yourself (DIY) You've realised that the sellers have agents to protect them in the sales transaction. And you might still decide to save the small 2-3% fee, and chose to rely on information and 'experts' in the faceless world of internet, for buying advice. While some advice are relevant to you, over 98% of the advice are generic. You'll need to know what's fact, what's fake, and how the advice is relevant to your situation. And, if anything goes wrong, will they have your back? No one from these free sources are obliged to help you get out of trouble. We've many clients who came to us after they received the wrong advice from these free resources. One bought a land with 5 different overlays and issues. He would have bought a $250k lemon, if he had contacted us 2 days later. So, be wary of such free advice. Let's look at this analogy. Buying a house is probably your biggest commitment. It is as significant as fronting up to a judge in court. Will you attend court without a solicitor on your side? Will you choose to represent yourself, or do you prefer to save a few thousand dollars and have your faith and trust in the experts' advice sourced from the internet and social media? Bonus # 11. Believing Dr Google and Prof Facebook As mentioned at the start of this blog, the amount of fake new and disinformation in Google and Facebook is shocking! You wouldn't believe how many clients came to us to help them, because they have no idea what they are doing, and simply follow instructions from the faceless people providing these misinformation. Sure, some of these information may work for 1 or 2 situations, but you will not know if it works for you, without understand the situation and concept. Many times buyers ended in trouble, simply because they followed the instructions blindly, without understanding the fundamentals of property buying. Sometimes, their situation can be corrected. But most times they ended up in deep trouble and there isn't any way to help them other than helping them find the best lawyer or builder to fix their problems. So, if you are seriously considering buying properties, get proper advice. It may cost you 2 to 3% of the property price, but the savings in time, frustration when you get the right property for yourself, is priceless. The 2021-2023 Property Market 2021-2023 is going to be another interesting year. The 40-60% property price crash of 2020 did not eventuate. No one expected the property market not to collapse, when we publish our advice. But because we are on the ground, and in sync with the property market, we believed our observation. Our predictions back in July 2020 believed the prices will be stable, and could even rise by end of 2020. It did. What's going to happen in 2021-2023? As at Aug 2021, we've already seen prices of property grow between 20-25%, since 2021. That's a grow of between 1 to 2 % EVERY month! We're expecting the price boom to continue, right into 2023. The pace is likely to slow, as government wind back the incentives. But in most areas, prices will easily grow 10%. But there is a catch. Not all areas will grow at the same rate. Not all types of properties will grow at the same rate. Some will even continue to consolidate. Do you know where to buy, what to buy? Where should your avoid and what should your avoid? The 2024 Melbourne Property Market Now that 2023 is truly well behind us, and after 2 years of rising interest rates to manage inflation, the inflation has finally slowed and the Reserve Bank of Australia (RBA) has put interest rate rises on hold temporarily. While this is good news to everyone, there is a catch. When every analysts in the market is predicting prices to fall 40+% due to rising interest rates and everyone's waiting for that anticipated mortgage cliff which did not eventuate, prices had risen, yes RISEN, 13% in Melbourne. Didn't the analyst say it is going to fall?? We said no, it won't and was ridiculed. But we trust our understanding of the market, and we stuck to our believe, that it will NOT fall. What about 2024 then? Prices will continue to rise, that is for sure. Yes, there are areas where mortgage payers might be struggling, but these are areas which we would avoid anyway. If mortgage rates were to fall, even if it is a slight fall, it can mean 2 things. Either the RBA is happy with the inflation, or the economy is in trouble. Signs are pointing to a slow economy, and they may not be a good sign at all. But there is always enough buyers to snap up good deals. If you are in the market for good deals, you'll just have to be quick. Where can you get independent property buying advice? Getting truly independent property advice is critical in your decision making process. You do not want to be influenced by people with vested interest in the transactions. The property sales agent, the mortgage broker, the fake buyers agents and those unlicenced investment consultants and real estate consultants. They are all effectively working against you, the buyer. They all have a vested interest in you closing a deal, buying anything they have to sell or the service they are providing. They want your commission when you buy, and they want to be paid by the banks, when you expense that mortgage pre-approval. If you are looking to buy you next home, and looking for independent advice, here is how we can help: Tailored Advice - We find out what you want, your budget, and tailor our advice to your needs and wants. We will help ensure you buy the right property, at the right price. Buy with confidence and buy with the right property insight, based on facts and data. No more wasted weekends, no more guesswork, no more over-paying for your home. Buyer's Agency working FOR YOU - As Melbourne's fastest growing buyer's agency, we've been involved in $1 billion dollars worth of property purchase in the past 5 years alone! Yes, while everyone is predicting a property glut, and NOT buying and waiting to grab a good bargain, our property insight, understanding and accurate forecast of the property market had given us the confidence to help our buying clients secure over buy over $1 billion worth of properties in the past 5 years, across major events, like the COVID19 pandemic, rising interest rates, and the anticipated "mortgage cliff" that did not eventuate... Now, see who had really grabbed a bargain, while everyone else is waiting? Low Fees - We believe in helping our clients secure good properties and stop our clients spending too much and wasting too much time on endless house search. We believe in reducing our operating costs, and we believe in returning these savings to our clients, by way of low fees. As such, we have one of the lowest buyer's agent fees in Melbourne. Found a lower fee? Ask about our low fees guarantee. Have a chat with us, let us discuss your property purchase journey and explore how we can work together on your purchase.

We've been asked if foreigners can buy Australian properties. The quick answer is yes. Australia is one of the few countries that welcome foreign property investors. According to a research by Australian Bank, ANZ, foreigners buy up to 25% of new properties in Australia. However, as a foreign resident investing in Melbourne and Australia, the types of property you can buy is dependant on your residency status. By default, you are considered a foreigner or non-resident or a temporary resident, if you do not hold either a permanent Skilled Migrant or permanent Business Migrant visa. Here is a quick guide of what a foreigner can buy in Melbourne, based on their residency status. FIRB Application Fees Your property purchase must be reviewed by the Australian Tax Office (ATO). You can do that via an Foreign Investor Review application to the ATO. You will also need to pay an application fee when you submit the application, as per the table below: From 29 July 2022 to 30 June 2023 ​ From 1 July 2023 to 30 June 2024 Note: the FIRB fee is now indexed to inflation and will be updated annually. Refer to the FIRB website for the latest FIRB application fee. *Source: FIRB.gov.au What Do you need to know before investing in Australian Properties? Investing in Australian properties can be a lucrative venture, but like any investment, it requires thorough due diligence. Here are some key considerations to be aware of: Investment Grade Quality. Not all properties marketed to foreigners are investment grade. Many of these properties are mass-produced on a budget and targeted at foreign buyers who may never see or stay in them. It's essential to identify properties that offer true investment potential rather than just appealing marketing. Understanding the Property Market. The real estate market in Australia is vast and varied, with numerous sub-markets, each with its own economic, cost, and supply/demand dynamics. It's vital to go beyond the glossy marketing brochures and understand the actual, up-to-date property market conditions. Different areas can exhibit multiple market dynamics, and sales agents may highlight the most favorable scenarios, which might not apply to the specific property you are considering. Tax Requirements. Investing in Australian property comes with tax obligations. Rental income must be declared on an Australian tax return, and you will be liable for Capital Gains Tax on any profit made from selling the property. Understanding these tax requirements is crucial to ensure compliance and optimize your investment returns. Understanding Changing Investment Regulations. The foreign investment regulations are consistently being tweaked and updated to attract foreign investment, without affecting local housing supply and demand. As a foreign investor, you need to understand the impact of these changes, in order to buy the right property or you may risk wasting your funds and time on the wrong properties. Challenges of Remote Investment. Investing from overseas presents unique challenges, primarily the inability to inspect the property or monitor its progress firsthand. Engaging local, independent, and trusted professionals to visit and inspect the property is essential to keep tabs on the development and ensure everything is proceeding as planned. By keeping these factors in mind and seeking the right advice, you can navigate the complexities of investing in Australian properties and make informed, confident decisions. ​How can Buyers Advocates Help Foreign Buyers Buy Australian Properties Confidently? Consider Using Melbourne Buyers Advocates When buying Melbourne Properties At Concierge Buyers Advocates, our property investment advisors and buyers agents have been assisting foreign buyers in sourcing and purchasing quality investment properties for over eight years. If you're a non-resident planning to invest in Melbourne properties, we're here to help. We enable property buyers and investors to navigate the Melbourne property market, outsmart local buyers, and see through sales and marketing fluff. With our Complete Buying Services, we: Identify and recommend investment-grade properties suitable for foreign buyers. No more guessing if you can buy the property you fancy. Organize inspections and manage all necessary legal approvals and conveyancing to ensure your property is built properly and legally registered in your name. Source and interview leasing agents and property managers to ensure your investment property is managed by top professionals in the area. If you're interested in investing in Melbourne and Australian properties with the expertise of a local and without the stress of overseeing the purchase from afar, talk to us. Let our Buyers Advocates ensure you have a smooth purchasing experience and enjoy the fruits of your investment confidently.

With higher interest rates eroding yields in traditional rental properties, investors are starting to explore higher yields strategies. NDIS investment properties have been a rather attractive proposition lately, due to its higher and stable yield. However, as with any investments, there are benefits and there are risks. What do you need to understand and weigh the benefits and disadvantages of the investment, before you get into one? In this article, we will cover the topic of NDIS investment properties, how it works, what you need to know and what you need to watch out for. What is NDIS? NDIS is the acronym for National Disability Insurance Scheme. This is an Australian government initiative that provides support and services to people with disabilities, their families, and caregivers. NDIS aims to provide individuals with disabilities greater control over their lives and the support they receive. It provides funding for a range of services, and supports tailored to the needs of each individual. These can include things like therapy, assistive technology, personal care, and more. It also includes funding for accommodations for people living with various assisted living needs. What is NDIS property? NDIS property is a property which is used for the purpose of providing accommodations for recipients of the NDIS allowance. These properties have been designed and must be compliant with the requirements of Specialist Disability Accommodation (SDA) standards. What is a NDIS SDA property? A NDIS SDA property is a property which meets and is compliant with the requirements of Specialist Disability Accommodation (SDA) standards. What are the benefits of investing NDIS properties? NDIS properties has been getting a lot of attention recently, due to the high interest rates, making all other investment properties look unattractive. Benefits of investing in NDIS properties includes: Steady Rental Income: NDIS properties are often leased to NDIS recipients, and the rent is usually funded through the NDIS. This can provide investors with a reliable and steady rental income stream, as the demand for housing that meets the needs of people with disabilities remains relatively constant. Long-Term Tenants: NDIS participants often require stable, long-term housing solutions. As a result, NDIS properties may have lower turnover rates compared to standard rental properties, reducing the vacancy risk for investors. Government Support: NDIS is a government-funded program, and properties leased to NDIS participants often receive rental payments directly from the NDIS. This government support can provide investors with a sense of security and stability. Ethical and Social Impact: Investing in NDIS properties allows investors to contribute to providing suitable and accessible housing for individuals with disabilities. This can have a positive social impact and align with ethical investment goals. Some investors sees this a giving out "good karma". Potential for Capital Growth: NDIS SDA properties are rather niche, and we aren't great fans of niche investment strategies. However, depending on location and market conditions, NDIS properties may still appreciate in value over time. This could offer potential capital growth for investors. How is NDIS property providing high yield and high returns? As above, NDIS is a government funded program, and occupants usually require long term accommodations. What do you need to know about NDIS properties before investing in one? it's important to conduct thorough research and due diligence before making any investment decisions. Here are some key considerations to keep in mind: Understand the NDIS: Familiarize yourself with the National Disability Insurance Scheme (NDIS), its goals, eligibility criteria, and how it operates. Understand the role of NDIS properties in providing housing for NDIS participants and the rental payment structure. Regulations and Compliance: NDIS properties need to meet specific accessibility and accommodation standards to cater to the needs of people with disabilities. Understand the regulations and standards related to accessible housing and ensure that the properties you're considering are compliant. There will also be rigorous compliance audits, to ensure the service providers and properties are compliant with the required standards. Location: Just like any real estate investment, location is crucial. Consider the demand for NDIS properties in the chosen area. Proximity to essential services, medical facilities, public transportation, and NDIS service providers can impact the property's desirability. Property Management: Research property management options. You might consider partnering with disability service providers or property management companies experienced in managing NDIS properties. A capable property manager can handle tenant needs, maintenance, and compliance effectively. Rental Income and Cash Flow: Understand the rental income structure and payment process. Analyze the potential cash flow, factoring in expenses such as property management fees, maintenance, insurance, and potential vacancies. Maintenance Costs: Depending on the needs of the occupants in the accommodations, you may sometimes find that there are higher modification and maintenance costs associated with providing these accommodations. Lease Terms: Learn about the typical lease terms for NDIS properties. Longer lease agreements with NDIS participants can provide stability, but also consider the flexibility (or the lack of) to make changes if needed. Due Diligence: Thoroughly inspect the properties you're considering. Ensure they meet the required accessibility standards and assess any potential renovation or modification costs. If you are buying an established property, chances, it will need modifications to be compliant. These modifications can be rather extensive. Market Research: Analyze the local real estate market trends. Are property values appreciating, and is there a demand for accessible housing in the area? Ethical Considerations: NDIS properties have a social impact. Understand the ethical implications of your investment and align it with your values. Consider also, the social impact when you stop providing for NDIS. Exit Strategy: Consider your exit strategy. How easily can you sell or transition the property if your investment goals change? As NDIS properties are niche property types, Documentation: Review all contracts, agreements, and lease documents thoroughly. Ensure you understand your responsibilities and the terms of the lease, your responsibilities as a NDIS accommodation provider. Financial Planning: Assess how investing in NDIS properties aligns with your overall financial goals, risk tolerance, and investment strategy. How do you find one NDIS property? If you are interested in NDIS properties, we have specialist builders who can have NDIS compliant floorplan which they can build. Get in touch with us, to get more information. What are the risks of NDIS properties? Like any investment, there are risks that you should be aware of. Here are some potential risks associated with investing in NDIS properties: Regulatory Changes: Government policies and regulations related to the NDIS can change over time. Changes in funding, eligibility criteria, or housing requirements will impact the profitability and viability of NDIS properties. Dependency on Government Funding: NDIS properties often rely on government funding for rental income. Changes in funding levels, requirements, restrictions, or delays in payments could affect your cash flow. NDIS Eligibility Rules Changes: It is not unheard of that NDIS requirements and eligibility rules do change often. More often than not, these rules are made more stringent as the government tries to control of cost blowout of NDIS program. Funding to eligible participants can be cut with little warning. If this happens to a participant/occupant in your NDIS property, you are exposed to higher vacancy rates. Tenant Turnover:  While NDIS participants often seek long-term housing, tenant turnover can still occur. Finding new qualified tenants can take a considerably much longer time, and preparing the property for new occupants can incur costs. Vacancy Risk: While NDIS properties may have lower vacancy rates due to stable, long-term leases, vacancies can still occur. Because of the strict qualification requirements of a occupant, it tends to take a much longer time to fill a vacancy. When the property remains vacant for a significant period, it could impact your rental income. Maintenance and Repairs: NDIS properties must be compliant to accessibility standards, which may involve higher maintenance and modification costs. Ensuring that the property remains compliant and suitable for tenants with disabilities can increase maintenance expenses. NDIS properties also tends to suffer from higher repair costs due to higher wear and tear and damages. Market Demand: Due to the niche nature of providing such accommodations, the demand for NDIS properties can vary quickly. If you invest in an area with limited demand for disability-specific housing, you might struggle to find suitable tenants. It is quite common to find that the addition of one new NDIS provider can significant change the dynamics of the market demands. Capital Appreciation: While some NDIS properties might appreciate in value, this isn't guaranteed. Factors like the local real estate market, economic conditions, and demand for disability housing can influence property values. Property Management Challenges: Managing NDIS properties can involve unique challenges, such as coordinating with disability service providers, ensuring accessibility features are maintained, and addressing tenant-specific needs. Ethical and Moral Considerations: Investing in NDIS properties carries ethical considerations due to its social impact. It is no longer just your business. Balancing Liquidity: Selling an NDIS property might take longer due to its specialized nature and the need to find buyers interested in this type of investment. Resale Challenges: NDIS properties are specialist properties. Potential buyers for NDIS properties might be limited to investors familiar with the specific market. This could affect your ability to exit the investment quickly or at the desired price. Market Saturation: If a particular area experiences an influx of NDIS properties, it could lead to oversaturation and increased competition for tenants. It is not uncommon, that the addition of a single new NDIS property can saturate the market and significantly affect the yield and vacancy. Economic Downturns: Economic downturns can affect the NDIS program's funding and tenants' ability to pay rent. This could impact your rental income. Unexpected Costs: There might be unforeseen costs associated with modifications, renovations, compliance updates, or legal issues. It is, therefore, critical to thoroughly research and assess these risks before investing in NDIS properties. Working with professionals who have expertise in real estate, disability housing, and financial planning can help you make informed decisions that align with your investment goals and risk tolerance. Remember that diversification, due diligence, and ongoing monitoring are essential practices for managing investment risks. How do you sell one NDIS property? Selling your NDIS property is very similar to selling a standard home. You estimate the value, list it, and sell it. However, because NDIS property provide social and ethical benefits to the society and occupants, you will need to consider the impact on the occupants. As a specialist and niche property, there is not going to be a lot of buyers who are familiar with the NDIS property, and most would stay away from buying a NDIS property due to their unfamiliarity. Selling an NDIS property is a topic in itself, and we will cover this in a future article. Can you use any property as NDIS property? Not every property can be used as an NDIS property. NDIS properties are specifically designed and adapted to meet the accessibility and accommodation needs of people with disabilities. The properties are intended to provide a safe, comfortable, and accessible living environment for individuals who may have mobility challenges, sensory impairments, or other disabilities. To be suitable as an NDIS property, a property typically needs to meet certain requirements, including: Accessibility Standards: NDIS properties must adhere to accessibility standards that ensure the property is usable by people with various types of disabilities. This includes features such as ramps, widened doorways, grab bars, and accessible bathrooms. Safety Features: NDIS properties may need additional safety features to accommodate the specific needs of individuals with disabilities. This could involve modifications to lighting, flooring, and other elements to enhance safety. Adaptations: The property might require adaptations based on the specific needs of potential tenants. For example, if the property is intended for individuals with mobility challenges, it might need modifications like stairlifts or wheelchair ramps. Location: Consider the location of the property. It should be in proximity to essential services, medical facilities, public transportation, and other amenities that are important for individuals with disabilities. Compliance: The property must comply with any relevant building codes, accessibility regulations, and standards for disability accommodations. Consultation: When considering a property for NDIS use, consulting with disability service providers or experts in accessible housing can help you assess whether the property can be effectively adapted to meet the needs of NDIS participants. It's important to note that there might be local regulations and guidelines that dictate the specific requirements for NDIS properties in your region. Additionally, working with experienced professionals in real estate, accessibility, and disability services can help ensure that a property is suitable and compliant for NDIS use. Before considering a property for use as an NDIS property, it's advisable to research the regulations in your area, understand the specific needs of potential tenants, and consult with experts to determine if the property can be effectively adapted to meet NDIS standards. Where can you find a NDIS property? Most of the new NDIS properties are custom build to SDA standards. It is cheaper and more efficient to incorporate the SDA requirements from the start of the build process. If you have trouble looking for NDIS properties, Concierge Buyers Advocates has a custom search service, which can find the land and/or builder for your NDIS property. Get in touch to find out more.

A picture says a thousand words. This is the sunset shot from an infinity pool we took during one of our property inspections in Melbourne. A premium villa with a good view. The importance of Independent Property Inspection When it comes to buying properties, we are all too familiar with viewing photographs of the property on realestate.com.au and domain.com.au ads. Many times, if you are overseas or interstates, you have no other options but to rely on photographs in the real estate advertisements to determine the condition of the property and make our buying decisions. How reliable are the photographs in real estate advertisements? These photos are usually reliable. After all, there must be something for the photographer to shoot, in order to produce the photographs. The role of a good photographer is to make the property look fantastic. And this is done with smart camera placements, camera angles, choice of lens and filters. No photoshop techniques or skills are required. All it takes is to place the camera at the right location, under the right lighting, to produce the desired effect. How do you get real property photographs? Nothing beats an on site inspection. Photographs are always made to look good. If you are unable to inspect it, you now have the option of engaging a buyer's agent to inspect it on your behalf. A truly independent buyers advocacy service inspects the property and provides you with a truly unbiased, independent view of the property. Our affordable property inspection service do not rely on the published photographs. We visit the property, take our own photographs, inspect the property as you would and tell you all you need to know. The good, the bad and everything in between. Short of inspecting the property yourself, this is the next best thing to getting an unbiased view of the property. For the affordable fee, we save you the trouble of having to make the journey for the inspection, that's easily a few hundred dollars in fuel, time, airfare and overnight accommodation costs saved. Plus, for a limited time, we're throwing in a free property valuation report for the property, worth $330 for each inspection. That said, back to this photograph. What if I say there isn't any infinity pool involved in this photograph? This sunset photography was taken with the roof of a car in the foreground. No filters, no photoshop involved. Just a stock standard mobile phone camera. Surprised? Get the real view. Get the facts. Don't be surprised. Concierge Buyers Advocates. Get in touch now to find out more.