Are you prepared for the summer season ahead? Whether you’re considering buying, selling, or just want to ensure your property is performing as it should, ensure you are prepared to make the most of any investment.
Review the market
It’s a myth that the property market goes to sleep during the silly season.
We always recommend our buyers take the time to actively review the market as auction season unfolds. During the spring auction season, it’s a good idea to map out where popular locations have emerged during the busy Auction season, to ensure you are in a good position to negotiate come Summer. Many savvy buyers and sellers take the opportunity to review properties that may have passed during spring and identify potential for growth.
Pre the summer season, consider whether your property has the potential to grow in value through clever renovations to yield the best rentals for your location, size and investment. Are your properties delivering the best value they are capable of? Are there opportunities to yield higher rents in some of your portfolio?
The summer months provide the perfect opportunity to spend time and resources developing and upgrading your current properties. Consider areas that could benefit from a renovation, quick revamp or added value feature to increase the value and attractiveness of your property investment.
The summer months gives everyone a well-earned rest, and also time to reflect on the year that has been. Did your properties perform as well as they could have during 2012? Are there opportunities to expand into blue chip or up and coming suburbs?
Take the time out over summer to consider where some gaps may be in your property portfolio.