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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.

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.

With the low interest rates and avalanche of incentives to help First Home Buyers being announced, we are seeing a lot of buying interest from First Home Buyers. However, a common feedback we have from home owners are that affordable properties are usually in the western part of Melbourne, where good schools and public transport are not very accessible. So, behind the scene, we've been sourcing for some good opportunities to help First Home Buyers find the right property at the right price, here at South East Melbourne. Properties in South East Melbourne has consistently outperformed properties in the west, due to a good combination of good schools, good infrastructure, good job growth, etc. So, if you are interested, stay tuned. Like and follow our Facebook, and Linkedin pages for the latest news. You can be sure they we will announce them through those channels. I can promise that the deals are 100x better than the picture you see here.

This customer came to us, frustrated at being treated like a sausage by her previous buyers agent. It was an agency which advertised a lot in social media, and with a modern swanky office near Melbourne CBD. Experience with the "fake buyers agents" Little did she know, this agency and their buyers agents were receiving payments from both buyers like her (through their "mentoring programme" fees), and commissions from the property developers, from which they recommend and buy from. Unsurprisingly, the client was put through a sausage-factory or cookie-cutter process, where she was told to buy a new house and land property X at a certain price Y, depreciate it to claim tax offsets against her income. The property advisor was not interested in her plans for the properties, and would not listen to understand her needs. How our buyers found the real power of Independence? We happened to bump into her at a property inspection. We caught up for coffee subsequently, and client shared her unpleasant experience and vented her frustration. After realising how she isn't the first victim and had been conned into the unscrupulous investment scam, she decided to turn her unpleasant experience around and engaged our services. We looked into her circumstances, her income, assets, etc, and realise she could do a lot more, if she is up to it. Benefits of working with Genuine Buyers Advocates Two years later, today, she's the proud owner of 2 properties, and she is in the process of getting her second property in Glen Waverley subdivided and re-developed at Glen Waverley into 2 townhouses. That is 3 properties in 2 years, when it is ready in a few month's time. Had she persisted with her former buyers agents recommendations, she will have to dig deeper into her pockets to buy developer stocks, which typically have lower growth, and would be difficult to sell in future. This immediately set her up for financial freedom, and relieved her from her bad property investment experience. You do not need to own tens of thousands of properties for financial freedom. You only need to own the right properties to achieve that freedom. How can investors own 3 properties in 2 years? Every investor's circumstances are unique and different. Thus it does help to know what you are doing, what your possibilities are and how practical it is for you, in your circumstances to invest correctly and minimising risks. It does pay to speak with the right team.

Waiting for the 5% first home buyer scheme? You might be out of luck. As we've been mentioning, it is a good plan, but it is probably released at the wrong time. Why? If you've been following our blogs here and on Facebook, property prices have risen between 5-8% in Melbourne. In some popular suburbs prices have reached and even exceeded the 2017 peak. Bidding activities at some auctions have once again, reached insane levels, with buyers overpaying hundreds and thousands more for a property. What does these all mean for first home buyers? You have to be prepared to pay more. And lots more, if you're hoping to buy into a popular, established suburb. Now, if you are waiting for the 5% deposit scheme to get into the property market you need to be fast. There are only 10,000 golden tickets available for eligible first home buyers. You have to be quick. How can we help? Here at Concierge Buyers Advocates, we have been working hard to identify eligible properties in popular, high growth Melbourne suburbs for eligible first home buyers. These are individually selected and hand picked from the lists of leads and some quality builders. We've done the review and handpicked them based on their quality, affordability, locations, amenities, etc Buying your first home has never been easier. Here is our quick 5 step process, to speed up your purchase: Talk to us. We'll get you pre-approved for mortgage, if you need one. Reviewed the properties, pick one. Sign the purchase agreement. Sit back and relax. We'll manage the purchasing process for you, from financing and conveyancing. Buying your first home can never be easier. Get in touch today to find out more. Our Promotion For the first 3 buyers each month, we're throwing in either a free Solar systems or a Smart Home Automation systems, fully installed. Do not miss out. https://www.news.com.au/finance/real-estate/buying/scott-morrisons-first-home-loan-deposit-scheme-will-launch-on-january-1/news-story/7b196e2dfd7f04e720b20381ac1e6020

We are very honoured to be short-listed into the Finalist and winning the "Highly Recommended" award at the Monash Business Awards 2023 Gala Dinner and Awards Presentation. This award is dedicated to our clients who trusted our services, allowing them to swiftly Outsmart the Property Market and buy confidently. Special mention to our supportive business partners, family and friends. Without which we wouldn't have given our clients the confidence, the seamless experience they deserve. When we started this journey at Concierge Buyers Advocates at #GlenWaverley, Melbourne, we never imagined we would come this far. It all began with a simple idea: to provide an affordable property advisory service to regular folk like us - mums, dads, everyday property buyers who needed a helping hand in the real estate market. Our journey has been a wild ride. We faced challenges, highs and lows. The lockdowns didn't kill the virus, but it almost got us. But we never lost sight of our mission. We wanted to empower people to make confident decisions, to outsmart the market, and get their dream properties without breaking the bank. This award means a lot to us and our clients. And we will keep pushing the boundaries to deliver the best service possible. We're thrilled and humbled and we'll continue to strive for excellence in everything we do. #conciergebuyersadvocates #buyersadvocate #buyersagent #buyersadvocateaustralia #buyersagentaustralia #buyersadvocatemelbourne #buyersagentmelbourne

Surprising results isn't it? Or is it? In the midst of one of the worse virus pandemic, Melbourne property auction clearance rates hits 90%. This is 10% points higher than a "good-time" average of 80%. So, what's happening? Is this the real story? While real estate agents would want you you believe it's good time to sell, be vary... Only just 363 auctions were held. This is almost two-thirds less than the week before. And it is less than half of what we're sold this time last year, when everyone was not buying. That's not all gloom though. One of the reasons why auctions held was low, was because many sales had been pulled forward, and held during the weekdays, or have been converted to private sales. And if you've been holding your breath, expecting prices to fall, don't. Breath now. Prices have not fallen. At least not significantly. Many people had been overpaying for the last 6 months during the buying euphoria, anyway. It's not time to expect bargain prices. Banks have openly announced that they'll give struggling home owners a 6 months holiday, so, prices are not going to fall anytime soon. But there could still be an occasional bargain. You just have to keep a keen eye on the market. Or we can do it for you. Get in touch with us. Sign up for a free notification when we've spot a bargain. We can do the property inspection on your behalf as well, if you are unable to.

Have you been debating over investing in property vs saving your money in the bank? Let's explore the facts together CoreLogic, largest provider of property information, analytics and property-related risk management services in Australia and New Zealand, released this chart summarising the recent price correction. It is a chart which included the recent price corrections. Looking at Melbourne, prices has dropped 11.1% since peaking in late 2017. Despite this, it is still 23.5% higher than what it was 5 years ago. What does that mean? Imagine, if you had $50,000 5 years ago, and you put that into a savings account, it will become $52,550 in 5 years, at a very optimistic average of 1% interest pa. If you had invested this $50,000 into property 5 years ago, your $50,000 would have turned into a $61,750 investment. I.e., the $50,000 would be worth a massive $9200 more! So, would you invest in property? If you have the serviceability, why not? But you need to get the right property at the right location. Have a chat with us. We can help you achieve your real estate investment goals.