How this 32-year-old built a $2.5m property portfolio
Being a first-generation migrant who saw his parents work hard for everything they had, this property investor used it a...
Want to ensure you get the most out of your house-hunting? Here are five tips on how to do just that.
According to Adrian Wilson, founder and principal of Ayre Real Estate, there are several things buyers should do to get their ducks in a row when inspecting property.
“There has been a lot of change in the real estate industry over the past few months due to COVID-19, and I believe it’s left some confusion among buyers around what’s OK and what isn’t. With open homes and group auctions well and truly now back in full swing, I wanted to share some tips and advice to buyers on how they can best prepare for viewing their potential new home or investment.”
Mr Wilson’s five tips for potential buyers include:
1. Celebrate the open house
“Group open inspections are way easier than chasing a whole bunch of agents and trying to co-ordinate times, especially if there is more than one property you plan on inspecting,” he said.
2. Arrive early
Mr Wilson said it’s important to arrive at the start of the open house.
“That way, you maximise your time at the property and ensure you can get in quickly, especially if there’s a large crowd and the agent has to limit the number of people at any one time,” he said.
3. BYO COVID-19 gear
“While agents will be providing hand sanitiser and usually tissues, it’s best to bring your own gloves, masks and any other safety gear you feel is appropriate,” Mr Wilson advised.
4. Give the agent your full and correct details
This is a non-negotiable requirement for accessing the property, Mr Wilson flagged.
5. Enjoy the auction process
According to Mr Wilson, online auctions have their benefits, “but being there in person and reading the crowd can give you a much better sense of how to implement your bidding strategy. Not to mention avoiding tech issues!"
“Although many enjoyed the one-on-one experience that COVID-19 temporarily brought, I’m personally really happy that we are able to conduct opens homes again in a safe and considerate manner,” he said.
“After seeing the difference, I believe that it’s the best way for buyers to view a property and for vendors to have their property viewed.
“Buyers are able to get a better sense of the market competition and to see and hear what other buyers are saying about properties, gauging the enthusiasm and energy around a particular property, as well as be able to read the crowd more easily at auctions.”