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The days your home is open for inspection are your chance to show it off at its best to prospective buyers. Don’t let anything get in the way of buyers seeing its positive aspects. Your agent may suggest talking to a stylist or home presentation expert who can give you advice on ways you can improve the look and presentation of your home.
1. Clean, clean, clean
Cleaning your property, really cleaning it, is absolutely essential. Many a prospective buyer has been put off a home that looks dingy and unloved. Be methodical — go from room to room and clean every single surface so it gleams. Clean the windows so they are sparkling and let in the maximum amount of light. Get rid of cobwebs high up on the ceilings, and dust every surface as high as you can reach. Should you clean inside cupboards? Yes. People do look behind doors, so at least have items stacked neatly and wipe the surfaces.
Clean until the place sparkles from floor to ceiling. Rid every corner of grime, cobwebs, mildew, stains, animal hair and dust. Polish windows and mirrors until they gleam. You’ll be amazed at how much more light clean glass lets in. Wipe out the inside of cupboards and drawers. Weed the garden, and sweep the front path.
A professional cleaner might be worthwhile getting in for the first big clean. After that, unless you’re very comfortably off, you may need to have a system to give your home a quick clean in the hour or so before buyers come to visit. Don’t forget toilets, the kitchen sink, mirrors and the front porch. And empty the rubbish bins!
2. Repair obvious problems
Even if you have decided not to carry out a major makeover or renovation of your home, you can still ensure that it’s free of any obvious, unsightly problems. Some prospective buyers may not be able to look past imperfections such as stained surfaces or cracked windows, and may wonder if signs of neglect indicate a home that is not in good repair generally. It’s not that you’re trying to pretend there are no problems — and a building inspection will reveal any obvious cover-ups — you just don’t want to confront visitors with them on their very first excursion through your home.
Spend at least a couple of weekends carrying out some basic repair jobs before you open your home for inspection, and perhaps engage a professional if the work is beyond your abilities. Here are some suggestions:
Fill minor wall cracks with plaster and repaint the wall.
<ul>
<li>Replace any broken tiles, and re-grout if necessary.</li>
<li>Check that the plumbing works properly — some visitors to your home will take the trouble to turn on taps and flush the toilets, so make sure there are no easily fixable problems like water hammer or dripping taps.</li>
<li>Resurface or paint over chipped or stained surfaces.</li>
<li>Replace cracked glass or mirrors.</li>
</ul>
3. Spruce up the garden
You don’t necessarily have to carry out a large landscaping job on your garden before you put the property up for sale, but do make sure it’s free of weeds, that the lawn is kept trim and that you prune shrubs and trees into shape. Some pots of colourful flowers or greenery near the entrance and in the backyard — especially around an outdoor entertaining area — will not go astray. You don’t need to go overboard; it should look natural. Keep newly planted shrubs or plants well watered.
Put garden tools away out of sight, make sure any kids play equipment is tidy and clean, and if you have a pet make sure you clean up any unpleasant evidence left on the lawn.
4. Arrange furniture and furnishings artfully
You’ll have already removed all the unnecessary items cluttering up the rooms in your home. But as you come up to inspection day you need to arrange each room so that it looks stylish and is easy to move around for prospective buyers. If you haven’t already had a home stylist advise you on this, now is the time to walk through your home with a critical eye. Each room should contain just enough furniture and ornaments to look lived in and liveable, and no more.
Ensure that the lounge suite is arranged nicely (including artfully strewn cushions), that floor rugs are lying correctly, and that beds are neatly made. Anything left on display, such as ornaments and photos, bathroom items, anything on your bedside table, or on your kitchen bench, should be lined up neatly and arranged in small balanced groups. Straighten up any pictures, as well as drapes and blinds.
Even if you’ve been able to fit a desk and a bookshelf into your bedroom to double as a study area, to prospective buyers this can make the room look crowded. Also make sure buyers on inspection day can move easily around your home without having to push their way around awkwardly placed furniture.
5. Lock up valuables
These days people tend to have to give their contact details before they visit a property that is open for inspection. But there’s no point tempting sticky-fingered guests by leaving out jewellery, electronic equipment or valuable ornaments. The person showing prospective buyers through the property can’t keep an eye on every single person in every single room. And if something does go missing, chasing up every single visitor after a suspected theft is not what you — or your agent — want to be spending time doing.
Hiding your valuables out of sight in drawers or the back of a cupboard is probably enough to deter most opportunistic thieves. Store anything really valuable at the home of a trusted friend, or even in a safety deposit box. Be discreet with information that can too closely identify you or your family members. Don’t leave phone numbers or identity cards (and definitely not credit cards) lying around.
6. Freshen up smells
Bad odours are another big put-off for prospective buyers. You don’t want people walking around your home with a wrinkled nose puzzling over a strange smell. Ideally your home should have little or no smell at all — but if you have issues with damp, or you have pets, you may need to resort to masking a bad odour.
Well before inspection time, open your doors and windows to get as much fresh air into the property as you can. (This may of course not be a great idea if you live close to a busy road, or a smelly factory.) If there are still lingering bad or musty smells, around an hour before inspection time you can either spray some air freshener in the rooms, or use some essential oils to freshen it up. Stick to more neutral smells; vanilla is always good. Don’t overdo it — the idea is to neutralise stale or musty smells rather than overpower visitors with a heady fragrance.
7. Bring in light
Maximise natural light in your home by ensuring the windows are absolutely sparkling clean. You’ll be surprised how much light can be reduced by dust and spots on glass. Remove heavy drapes or blinds if they’re cutting out the available light (you can put them back once you’ve sold the property). You may decide to put in a skylight or an extra window to give extra light to a very gloomy room or corner.
On inspection day, turn on lights in the property — even if it’s sunny outside. Use table or standard lamps to create attractive pools of light. Overhead lights can also be used if a room is otherwise quite dark, or to illuminate special features.
8. Make it warm (or cool)
A warm home gives the impression that it’s lived in and loved. Even if it’s not too cold outside, put the heating on for an hour or so before inspection time just to take the edge off (especially if you’ve been airing the home beforehand). If you have one, a lit fire or gas heater can create a sense of cosiness in a lounge-room or family area.
On hot days, run the air-conditioning if you have it. But only to a level that is refreshing rather than chilly. You may also need to open windows if your home is very stuffy.
9. Place flowers and personal touches
A vase of lovely flowers or two can really lift a room and give it a touch of class. Use whatever is in season in a single colour, or at most two, to complement the colour scheme of the room. Avoid very highly scented flowers. Place one vase in the entrance if you can, and at least another in the living area.
Should you have teacups artfully arranged on the dining table, slippers poking out from under the bed, the smell of freshly brewed coffee wafting through the kitchen? These touches can come across as being a bit stagey and contrived. But an arty book or magazine lying on the coffee table may be a nice detail, and do have fresh towels hanging in the bathroom and fresh tea towels in the kitchen — colour-coordinated, of course.
10. Make yourself scarce
On inspection days you and your family, including the family dog, need to do a disappearing act — usually for half an hour at a time. Have a timetable for each inspection time so everyone is aware of the need to get ready and in the car and out the door well before the prospective buyers turn up. Clear away kids’ toys, pet toys and feeding bowls.
Where should you go? You can visit a friend, drop in to a nearby cafe, or do the shopping. If you really can’t be bothered going too far, you could just park the car out of sight up the street. This can give you the chance to stickybeak at who is coming to visit your property. But be discreet; no one wants to feel like they’re under observation during an inspection.
<img width="100" src="/images/stories/sellingdummies.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">
Karin Derkley is a the former deputy editor of Personal Investor magazine, and continues to write for The Age and AFR Smart Investor. She has also lived through the pleasures and pitfalls of purchasing and renovating her own home. She is the author of Selling Your Home for Dummies, published by <a href="https://au.wiley.com/WileyCDA/" target="_blank">Wiley</a>. The <a href="https://www.dummies.com/Section/index" target="_blank">Dummies brand</a> is celebrating its 21st anniversary in Australia in March. This is an excerpt from Selling Your Home for Dummies.
 
 
 
 
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kerkley-uF6NdMiThS

Ten tips to prepare your home for an open for inspection

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As soon as you make the decision to sell your home, you need to look at your asset in a different way. No longer just the place where you and your family live, your home is now a product that you need to market and present to your potential buyers. Showcasing your home is all about highlighting the possibilities. The more people who see your home as desirable, the higher the price you’re likely to sell it for. Here are 10 tips to help you put yourself in the shoes of your buyers and ensure you get the best possible price for your home.
1. Understand your buyers
Different kinds of properties suit different kinds of buyers. What a young professional couple is looking for is unlikely to be the same as that which appeals to a growing family. Empty-nesters have different needs again. If you can second-guess the kind of people who may be attracted to your property you can:
<ul>
<li>Craft your marketing accordingly</li>
<li>Better understand how you can go about preparing your home for sale</li>
<li>Decide which real estate agent to choose to handle the sale.</li>
</ul>
A good real estate agent can give you insight into likely buyers based on his or her experience of the local market.
Talk to friends to get their ideas about who they think may be interested in your property, and what they might be looking for.
2. Remove personal clutter
Your first step in preparing your home for sale is to pare down your furniture and belongings. Remove any ornaments that are too personal or idiosyncratic. You may be able to see the irony in the kitsch fridge magnet your Aunt Jenny brought back from Surfer’s Paradise, but your buyers may not. As a general rule, take down family photos and children’s drawings — although you can leave a couple of the more artistic ones, especially interesting older photos.
Another benefit of carrying out this step of culling and de-cluttering early on is that it means you can more easily see what needs to be done in terms of cleaning and any repairs.
Home buyers are looking for a place they can imagine themselves being happy and proud of. So, when you come to sell your home, your job is to ensure that nothing gets in the way of your home “communicating” with potential buyers. Leave room for buyers to visualise themselves in your home.
Start by clearing your property of anything that isn’t absolutely essential to the functioning or the aesthetic attraction of a room. Clean out and tidy storage cupboards. Cull pictures, knick- knacks and junk.
Ask a friend with a discerning eye to help you be ruthless about de-cluttering your home for sale.
3. Add value with cosmetic changes
Space, freshness and light are probably the most sought-after aspects of a property (apart from storage, more on that in a minute). Many properties that have a lot to offer in this regard are overlooked by buyers because sellers have failed to carry out simple and often inexpensive improvements.
<ul>
<li>A coat of paint can freshen up both the interior and exterior of a home — and is likely to add probably twice its cost to the value of the home. Stick to neutral colours, and ensure the paint job looks professional.</li>
<li>Lift worn carpets or lino to reveal floorboards that you can polish to create a clean, modern feel. If you don’t have floorboards, replace with medium-quality floor coverings or look into installing a floating timber floor.</li>
<li>Replace tired cabinet doors and door handles in the kitchen and bathroom for an inexpensive and worthwhile lift. Re-grouting bathroom and kitchen tiles can make old tiles look new again.</li>
<li>Install a window or a skylight to brighten up a gloomy room. A window with a pleasant view over a garden or some other aspect gives a double benefit of light and space.</li>
<li>Create an outdoor entertaining area by paving a section of the backyard close to the house, and buying an inexpensive outdoor furniture set. You can do the same with an apartment balcony by adding some cheerful tubs of greenery and a barbecue.</li>
<li>Leave larger-scale structural improvements to the new owners. You’re unlikely to get the money back you spend on upgrading the infrastructure such as re-wiring or re-blocking (replacing the foundations of your property). </li>
</ul>
4. Build more storage
One of the biggest complaints of home owners is lack of storage. Having a spacious open-plan living area or three bathrooms can be cancelled out if there is nowhere to store sheets, the vacuum cleaner or family memorabilia. Wardrobes are also often all too scarce — especially in older homes where people relied in the past on a big, old, freestanding wardrobe.
Here’s how to make more space for storage:
<ul>
<li>
Rooms: Ensure each room in your property has some form of cupboard, cabinet or shelving. Even if the storage isn’t built in, you can show the room’s potential for fitting in a wardrobe or bookshelf.</li>
<li>
Linen cupboard: Everyone needs somewhere to store their sheets and towels. Perhaps you can sacrifice a section of a hallway, laundry or bathroom to install a freestanding cupboard or build one in. Make sure, though, that it’s made of material that can handle moisture and humidity. Bamboo, glass and chrome are good options.</li>
<li>
Roof space: If you’ve got a bit of space in your roof, it may be worthwhile converting it into an attic. As long as it’s properly lined and easily accessible with a fold-down ladder, this may more than pay for its value by appealing to buyers who can dream about storing their family heirlooms, winter bedding and camping equipment.</li>
<li>
Shed: If you don’t have a garage, buy a garden shed big enough to fit a few tools and a bike or lawnmower.</li>
</ul>
5. Find an enthusiastic real estate agent 
If you don’t handle the sale of your property yourself, you need to rely on a real estate agent to bring in buyers and get them interested in your home. Make sure the agent you choose understands your property’s good points and has the skills and commitment to market them with enthusiasm.
Think about whether an agent is the type of person who can communicate well to the kinds of people you’ve determined are likely to be interested in your home:
<ul>
<li>Does she dress appropriately?</li>
<li>Can she talk authoritatively without being intimidating?</li>
<li>Is she the kind of person who is likely to win the trust of your potential buyers and encourage them to make a good offer?</li>
</ul>
6. Target your marketing
Real estate agents often encourage you to spend thousands of dollars on advertising and marketing that may not even be appropriate for your property. Big glossy advertisements don’t necessarily result in bigger prices. More important may be listing your property on a major real estate website, along with a well- designed and worded signboard outside your property that attracts and informs drive-by home-seekers.
You can reach local buyers by dropping brochures in letterboxes and by placing advertisements in the local newspaper. If your property is likely to appeal to buyers from other areas, advertise in publications with a metro-wide circulation (including an agent’s own in-house magazine).
Skilful use of photographs and descriptive text can highlight your property’s best points, particularly those not obvious from the street. Sing the praises of your location as well as of the property itself.
7. Price your home properly
List your home at a price that is likely to target the right buyers. Too high and you’re narrowing your potential buyer pool, too low and you’re only going to get the opportunistic bargain hunters.
Don’t rely on real estate agents to give you a realistic price expectation. They invariably over-quote to get your property on their books. When you don’t get offers at that price they’re likely to blame the market rather than their unrealistic price expectations.
Get an independent property valuer to give you a valuation based on her knowledge of the local property market and her appraisal of your individual property. Between this figure and the agent’s over-optimistic price expectation, you can get a better idea of how to price your property.
8. Dress to impress on inspection days
The repainting, polishing, cleaning and de-cluttering are all done. On inspection day, make sure your home is fresh and welcoming. Sweep the front step, polish the doorknocker, fill the entrance with light and put fresh flowers in strategic spots around the property.
Get rid of the kids and the pets — and all evidence of them, including toys, animal hair and smells. Clear the sink and kitchen bench, and put fresh towels in the bathrooms. Burn vanilla or peppermint essential oils no less than an hour beforehand. Have soft tasteful music playing in the background, and make yourself scarce.
9. Be prepared to negotiate
When you get an offer from a buyer that may be much lower than you would like, reply courteously, letting the buyer know that you’ve done your homework and that you’re expecting a price a little closer to your listing price. Be prepared to drop around five per cent from your hoped-for price — but take guidance from your real estate agent about the demand from buyers thus far.
In an auction sale, if the property is passed in at a price lower than you like, have some negotiating points ready to offer the under-bidder. Can they offer you a better price if you volunteer a longer settlement period, for example, or if you leave the collection of large, potted palms behind?
10. Ensure a smooth transaction from contract to settlement
A contract isn’t binding until each of you has a copy signed by both of you. If you’re selling via private treaty sale:
<ul>
<li>Make sure your agent can contact you immediately when she receives a good offer.</li>
<li>Have your solicitor/conveyancer on call to be able to get moving on the conveyancing, to ensure the process goes as smoothly as possible.</li>
</ul>
For settlement day, make sure you:
<ul>
<li>Vacate the property (unless the sale goes through with tenants in place).</li>
<li>Leave it in the same condition it was in when your buyer signed the contract — otherwise the buyer has the legal right to delay or pull out of the settlement.</li>
<li>Organise the disconnection of all utilities.</li>
<li>Hand over the keys to the new owners.</li>
</ul>
 
<img src="/images/stories/sellingdummies.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;" width="100">
Karin Derkley is a the former deputy editor of Personal Investor magazine, and continues to write for The Age and AFR Smart Investor. She has also lived through the pleasures and pitfalls of purchasing and renovating her own home. She is the author of Selling Your Home for Dummies, published by <a target="_blank" href="https://au.wiley.com/WileyCDA/">Wiley</a>. The <a target="_blank" href="https://www.dummies.com/Section/index">Dummies brand</a> is celebrating its 21st anniversary in Australia in March. This is an excerpt from Selling Your Home for Dummies.
 
 
 
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Ten tips for selling your house easily and for the best price: Karin Derkley

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Before determining whether to sell your home privately or at auction, you need to consider the specifics of your property, the neighbourhood and what’s happening on the property market. All of these will determine the most appropriate way of selling your home so here’s a list of things to consider when making your decision:
<ul>
<li>
What is the norm in your area? </li>
</ul>
Unless your property is very distinctive or unusual, you’re unlikely to get much interest and enthusiasm from a crowd of potential buyers if auctions just aren’t the done thing in your area. Consider how other properties are sold in your area and how that might work for you. However, in some suburbs, if you don’t hold an auction you may be risking the perception that there is an issue with your home that makes it unsuitable for sale in that way.
<ul>
<li>
Is your property of a kind that is in high demand? </li>
</ul>
If your house has unique or special qualities such as features or location that buyers would be prepared to compete for, auction may be an ideal way of taking advantage. However, if this is not the case, you may struggle to draw a crowd that would give an auction the momentum it needs.
<ul>
<li>
Is the property market in your area booming? </li>
</ul>
When prices are going up and up in your area, buyers are keen to buy even quite ordinary homes because they’re fearful of missing out and having to pay more at another time. This anxiety encourages buyers to bid higher than others in order to secure your property. The thrust and parry of an auction is the perfect setting for this. However, if there is not a great deal of excitement and demand from buyers for properties in your area, an auction may fall flat and you may not get a bid at a price you’re happy with.
<ul>
<li>
How quickly do you need to sell your property? </li>
</ul>
If you need to sell your home in a particular time frame, an auction may be best because even if your property passes in on the day, it will usually sell within the next week or so. If you have more time and want to sell your property in a more relaxed way, a private treaty sale might work as a property can sit on the market for several weeks – you will also have more time to consider offers.
<ul>
<li>
Can you handle the marketing, inspection and sales processes yourself? </li>
</ul>
If you find it a chore and it falls outside your comfort zone, an auction could be the best way to go. Auctions have specific and intense marketing periods running for around four weeks and, if you’re lucky, it then culminates in ten minutes or less of bidding on a specific day and then it’s over.
<img width="100" style="float: left; margin: 5px;" src="/images/stories/sellingdummies.jpg">
Karin Derkley is a the former deputy editor of Personal Investor magazine, and continues to write for The Age and AFR Smart Investor. She has also lived through the pleasures and pitfalls of purchasing and renovating her own home. She is the author of <a href="https://au.dummies.com/store/product/Selling-Your-Home-For-Dummies-Australian-Edition.productCd-0730377156" target="_blank">Selling Your Home for Dummies</a>, published by <a href="https://au.wiley.com/WileyCDA/" target="_blank">Wiley</a>. The <a href="https://www.dummies.com/Section/index" target="_blank">Dummies brand</a> is celebrating its 21st anniversary in Australia in March. This is an excerpt from Selling Your Home for Dummies.
 
 
For more advice on auction vs private treaty, download our <a target="_blank" href="https://register.propertyobserver.com.au/propertyobserver-auction-vs-private-treaty/">free eBook</a>.
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Choosing a method of sale: Auction vs private treaty

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In the  excitement of finding  your  (potential) dream home, the job of checking for all the  necessities, and  some niceties, can easily  be overlooked. I will cover some basic items you should look for in just  about every room or space in an average house or flat.
Checking for these key things will help  avoid  any last-minute panic when  you’re  signing  the  contract to buy  the  home, desperately trying to remember whether you checked the  water pressure or if the  oven  worked properly.
1. Kitchen
You spend a lot of time  in the  kitchen, so it’s vital to ensure this  area in your  new home is going to meet your  specific needs (even if you end  up renovating later). Here’s  a list of some key kitchen features to look for as you hunt around an open house:
Benchtops and splashbacks: Do you prefer granite benchtops and  glass  splashbacks, or laminate and  tiles? Check  the  condition of the  benchtops and  of the  grout and sealant around the  tiles,  sinks  and  splashbacks. Also check the  amount of bench space and  whether it provides you with  enough preparation room.
<ul>
<li>Cooktop  and oven:  How will you heat your  food  — gas? electricity? induction heating? thermonuclear power? (Keep  in mind  electricity is more expensive than gas.)</li>
<li>Extraction  fan/range hood:  Check  for an extraction fan – you’d  be amazed how  many  homes don’t  have  one,  and you often  can’t  install one  retrospectively. Also check the effectiveness of the  fan — and  the  noise level</li>
<li>Fridge space:  Have a look at the  space for the  fridge.  Is it wide  or high  enough to fit the  fridge  you already own?</li>
<li>Floors: What  are  the  floors covered with? Are you happy to care for a wooden floor,  or would  you prefer to quickly  mop tiles?  Avoid carpet!</li>
<li>Hidden extras: Does the  kitchen come with  a dishwasher already installed — or at least have  a space (preferably next to the  sink)  to install one  easily?  What  about some standing room? I don’t  know about you,  but  people at my dinner parties always end  up hanging around while I finish preparing the  food.</li>
<li>Power  and phone points:  How many  power points have been installed, and  where are  they  placed? Are there enough points to accommodate a fridge,  toaster, kettle, microwave and  other less-frequently used appliances?</li>
<li>Is there somewhere to plug in a phone or modem?</li>
<li>Storage  solutions: There’s lots  to store in a kitchen, so inspect the  pantry and  the  number (and size)  of the  cupboards. Make sure you don’t  lose  too  much cupboard space to a hot-water service, dishwasher pipes or sink plumbing.</li>
</ul>
2. Bathroom
<ul>
<li>The  bathroom in your  new property might  have  last  been renovated in the  1950s, meaning every item  is a fetching shade of pink.  But if your  budget won’t stretch to renovating the bathroom as soon as you move  in, you’ll be stuck with  the current fittings for a little  while.  Examine  this  list of features to see  whether the  bathroom is functional for your  needs:</li>
<li>Bath/shower: Does the  bathroom come with  a bath, shower, both or a “shub”  (shower over  a tub)? If there’s only a shower, can  you live without long baths after  a hard day  at work? Or are  you more of a “four-minute shower” person? (And congratulations if you are,  given the  droughts we tend to have  in Australia!) If you have children, or are  planning to, having  a bath might  be a must-have. If a short but  sharp shower is important to you, remember to check the  water pressure.</li>
<li>Bathroom vanity:  No, I’m not  talking  about spending too much time  in front  of the  mirror! I’m referring to the  sink and  cupboard unit  that’s fairly standard in a bathroom. Does it come with  a mirror? If the  vanity  doesn’t have in-built  drawers or cupboards, is there additional storage, or at least room to install a stand-alone set  of drawers to house all your  essential bits  and  pieces?</li>
<li>Power  points:  Even if you’re  pretty low-maintenance, you probably use  a few electric appliances in the  bathroom, such as a hairdryer, electric toothbrush, shaver or hair straightener. Check  the  availability and  placement of power points. Or you might  be into  the  bare essentials and  not need any of this  at all.</li>
<li>Steam clearing: You’ll need something to remove the steam while you’re  bathing, to prevent mould from appearing on the  bathroom walls.  Is there an extraction fan? At the  very  least, you’ll want  a window that opens — but  if the  bathroom’s on the  ground floor,  make  sure the window has  a lock to prevent unwanted visitors (human and  otherwise) from  creeping inside. Also check what  the window looks  out  on.</li>
<li>Washing  machine taps: If there’s no separate laundry in the  house, or no communal laundry in the  apartment block, then you’ll probably find some washing machine taps in the bathroom. Check  that there’s enough space to fit your washing machine, and  some room to sort your  washing. In modern properties or renovations, you might  come across what’s  known  as a European laundry, which  usually means space for the  washing machine (and perhaps dryer) is tucked away  in a cupboard or in the  kitchen. Check  the space provided is sufficient.</li>
</ul>
3. Lounge
The  lounge is the  perfect place for entertaining guests and spending time  with  family. But what  if you move  in and  find there’s not  enough room for your  lounge suite? Here  are  some features to look for before you commit to buying a property:
<ul>
<li>Extra space:  Lots of lounges flow on to balconies or into the  backyard. Does the  property have  doors or windows that allow you to bring  the  outside in?</li>
<li>Heating  and cooling: Do you swelter in summer without air-conditioning or do you really feel the  cold  in winter? Or do you prefer to keep  your  gas and  electricity bills down?  Numerous heating and  cooling options are  available: Reverse-cycle or split-system air-conditioners, ducted heating and  cooling, open fire places, ceiling  fans,  hydronic heating, bar  heaters and  gas wall panels are  all possible. Check  out  the  heating and  cooling options provided and whether they  fit in with  your  requirements. If the  property doesn’t come with  any heating or cooling options, you can  always buy  a free-standing floor  fan and  heater.</li>
<li>Flooring: Tiles,  floor  boards or carpet are  the  main  flooring options in a living area;  think  about what  works  best for your  location and  lifestyle (and whether you can  afford  to change the  current flooring, if it doesn’t suit  your  needs). </li>
<li>TV and phone connections: Some people prefer to keep the  TV out  of the  lounge, but  if this  isn’t the  case for you, check for an aerial plug.  Paid  TV services may also  be a non-negotiable in your  household; if so, you’ll want  to see if the  cabling has  already been installed. (Don’t forget  to check for aerials and  satellite dishes outside!) Similarly, you may want  a phone in the  lounge and,  given the  rise of internet television, an internet connection in this  room could be very  handy too  if you want  to avoid  cables trailing through the  house or apartment.</li>
</ul>
4. Dining room
Older  properties usually have  a separate, or formal,  dining  room. If you do a lot of entertaining and  have  a large  dining  table, take some measurements of your  table and  chairs before  you head off to the  open home, to ensure it will fit into  the  dining  area.
If formal  dining  isn’t really your  style,  check whether another use  of the  separate dining  room is possible and  practical.
More  modern homes or renovations will often  have  open plan dining  areas, usually adjoined to the  kitchen, lounge or both. This  means that the  space is not  (usually) as restricted as a separate dining  room. Check  that the  flow of the  open plan space fits in with  your  lifestyle.
5. Bedrooms
When  looking  at the  main  bedroom of the  property, check the following:
<ul>
<li>Clothes  storage:  You’re going to need to hang  up your clothes (unless you’re  a teenage boy  — in which  case, plenty of floor  space is probably your  best bet). Some wardrobes come with  built-in  shelving units, but  if the wardrobe installed only has  hanging space, check you can  fit a chest of drawers in the  room. If the  room has  no storage (sometimes the  case in older properties), you may need to purchase a free-standing wardrobe.</li>
<li>Ensuite: For some, not  having  an ensuite isn’t a deal- breaker, but  if you have  children or often  have  guests staying, you may consider it to be. If this  is the  case, check whether the  bedroom has  an ensuite and  that it meets your  needs.</li>
<li>Flooring: Carpet? Wooden floorboards? Remember that this  will affect  the  temperature of the  room throughout the  year,  so take  the  climate of your  location into consideration.</li>
<li>Heating  and cooling: For maximum comfort in the  summer months, and  to stop you from  freezing in winter, don’t forget  to look for heating and  cooling systems, in whatever form  you prefer (air-conditioning, ceiling  fans,  under-floor heating and  so on).</li>
<li>Phone and TV connections: If you like to watch the  TV in bed  or while you’re  getting dressed in the  morning, ensure the  bedroom has  an aerial plug.  You may also  want  a phone jack near the  bed.</li>
</ul>
For properties with  more than one  bedroom, apply most of the preceding points to the  second and  subsequent bedrooms.
If you’re  planning to turn one  of the  bedrooms into  a study, make  sure to check for sufficient power points for all your computer equipment.
6. Laundry
Many older and/or larger homes have  a separate laundry, and you may feel having  this  extra space is an added feature. If the property you’re  inspecting has  a separate area for laundry, here’s a list of what  to look for:
<ul>
<li>Bench  space:  If you’ve  got a top-loading washing machine, then you may want  to look for extra bench space for folding  clothes, storing washing powders and  hosting a central repository of unmatched socks (where do the  other halves of the  sock  pairs go?!).</li>
<li>Dryer brackets and ducting:  Bringing  your  own dryer? Investigate whether there are  brackets to attach the machine to the  wall, and  ducting to move  the  hot air outside.</li>
<li>Sink and cabinet: A deep sink in the  laundry is useful for soaking and  rinsing — or bathing small  children if the property doesn’t have  a bath!  If you do have  children, check whether the  cabinet can  be secured, so you can store nasty liquids and  powders out  of harm’s way.</li>
</ul>
7. Garage
The  number of cars/bikes/jet skis  you own, or intend to own, will determine the  suitability of the  garage (if the  property comes with one). When  looking  at parking options, keep  the  following in mind:
<ul>
<li>Parking  that comes with  apartment blocks:  In this situation, the  parking is usually shared, and  the  options will be allocated parks, or first-in,  first-serve. If you’re lucky,  there might  also  be a storage cage  for all those odds and  ends, like the  fake Christmas tree and  the  bicycle that you really must start using  more often… Check  the security and  lighting  in this  shared space.</li>
<li>Parking  that comes with  houses or units: In a stand-alone property, the  parking options might  include a covered garage or a driveway. If the  property includes a covered garage, check how  secure it is and  whether it provides internal access. In some older properties, the  covered garages are  quite narrow, so check whether the  car  you have will fit, along  with  everything else  you’d  like to keep locked up and  under cover. If the  only parking option is the driveway, check how  many  cars it’s possible to fit.</li>
<li>No parking  at all: If on-street parking is the  only option, check the  parking regulations in the  area — you might  need a permit to park  outside your  home, which  is an additional annual cost.</li>
</ul>
8. Backyard or balcony
Having a backyard is part of the  Great  Australian Dream,  right?  If the  property you’re  considering has  a backyard (or  a balcony), work  your  way through this  checklist of features:
<ul>
<li>Barbecue: Another quintessential Australian feature — the barbie. If there isn’t a plumbed-in gas pipe  attached to the house, then you’ve  got a bit of freedom to move  your  barbecue around the  backyard. Check  what  options are  available. If you’re  looking  at cooking on a balcony, make  sure that it is well ventilated.</li>
<li>Fences:  Whether you’ve  got pets or children, it’s essential to have  the  backyard fenced to stop runaways. Check  the condition of the  fence  and  find out  how  old it is. If the property has  a balcony, ensure that railings are  sufficient and  secure.</li>
<li>Lighting  and power  points:  To enjoy  long summer evenings out  in the  backyard, you’ll need some lights  outside the house, or an easily  accessible power point to set  up some temporary lighting. After all, how  else  are  you going to string up fairy lights  at Christmas?</li>
<li>Maintenance requirements: Do you dream of creating a backyard escape and  being  surrounded by trees and  plants, or do you prefer low-maintenance decking or pavers? Check  whether enough space is available, and  whether you’re  happy with  the  level of maintenance required.</li>
<li>Somewhere to sit: Does the  property come with  a deck or paved area to put  some outdoor furniture? Or, at least, a flat bit of grass?</li>
</ul>
Washing  line: Having a washing line will save  you hundreds of dollars — sunlight is free,  and  dryers cost money to purchase and  operate. If a washing line is already provided, check that it’s not  only unobtrusive but  also  positioned to catch good  sunlight — north facing is ideal.  If a washing line isn’t already set  up, check that there’s somewhere you could install one.
9. Street appeal
Everyone knows  that you shouldn’t judge  a book  by its cover, and the  same goes  for a house. But when  you’re  making  such a large  purchase, it’s natural to want  to make  sure everything is perfect, inside and  out.  Here  are  some ideas of what  to look for when  you’re  approaching (or  leaving) the  open home inspection:
<ul>
<li>Facade: First  impressions count, and  in the  case of a house or apartment block,  it’s the  facade that creates this  impression. Is the  paint fresh or starting to peel?  Is the  colour scheme a bit dated? If the  house has  wooden cladding, check it’s not  showing signs  of rot.</li>
<li>Landscaping:  Is the  front  yard  a jungle  of overgrown weeds? If you’ve  got green thumbs, a challenging garden project may be exciting for you.  But if you’re  a novice with plants and  a lawnmower, and  have  little  interest in learning how  to do these chores, are  you willing to pay  someone to bring  the  front  yard  to a suitable standard, and  to maintain it afterwards?</li>
<li>Privacy:  Do you like a front  yard  or apartment block  that is quite open to the  street, or do you prefer more privacy? The  type  of plants and  fence  used in the  front yard  or outside the  apartment block  can  affect  how  much passers-by can  look in, and  how  secure the  property is.</li>
</ul>
If you prefer more privacy and  security, look for higher fences in good  condition.
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/buyingdummies.jpg">Karin Derkley is a the former deputy editor of Personal Investor magazine, and continues to write for The Age and AFR Smart Investor. She has also lived through the pleasures and pitfalls of purchasing and renovating her own home. She is the author of <a target="_blank" href="https://www.dummies.com/store/product/Buying-Property-For-Dummies-2nd-Australian-Edition.productCd-0730375560,navId-322442">Buying Property for Dummies</a>, published by <a target="_blank" href="https://au.wiley.com/WileyCDA/">Wiley</a>. The <a target="_blank" href="https://www.dummies.com/Section/index">Dummies brand</a> is celebrating its 21st anniversary in Australia in March. This is an excerpt from Buying Property for Dummies.
 
 
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Nine areas of a home to check at open for inspections: Karin Derkley

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Buying your first home is a huge  leap.  And it’s one made more difficult by the fact that property prices are high, no matter where you look. Most first-home buyers always have a tough time, though. They usually have to look in areas outside their preferred location or buy a property that’s smaller or more rundown than they prefer. The important thing is to get your foot on the first rung of the property ladder — even if you have to lower your expectations a bit. But don’t buy before you’re ready — financially and psychologically. Here are some tips to help you take heart.
1. Buy when you’re ready to buy
When you’re looking for a property, everyone you know is an expert about when is the best time to buy.  They  tell you the market is going up fast,  so you need to buy  now, not  in six months’ time;  or that the  market’s going to crash, so you ought to wait another year  to catch the  bargains when  interest rates go up.
Ignore them!  Yes, all of them. The right time to buy a property is when you’re ready to buy.
You know you’re ready to buy when:
<ul>
<li>You find yourself dreaming about renovating your own home.</li>
<li>You find yourself incessantly looking at the property section of the local newspaper or browsing the real estate listings on the internet.</li>
<li>You start putting every last penny into the bank, rather than spending it on new clothes, going out or other treats.</li>
</ul>
Given the huge financial commitment involved in buying a property, you need to be psychologically ready for that step. Assuming you’re  going to hang  on to the  property for a while and you find a property that suits at a price you can  afford,  who cares what  the  wider  market is doing?
2. Think outside the square
If you can’t  find anything you can afford  in the  suburb or area of your  choice, you may need to think  laterally or scale down your  expectations just  to get your  foot on the  first  rung of the  property ladder. Traditionally, first-home buyers tend to look beyond their first choice to find a home they can afford.
To find somewhere more affordable, investigate suburbs just beyond those of your first preference. These nearby suburbs may have similar qualities to those you have your heart set on — they’re just a bit further out than you may like. They can also offer other unexpected benefits, such as bigger properties and bigger yards and a neighbourhood more conducive to raising a family in the longer run.
Don’t forget, you’re not alone. The  middle suburbs and  many country towns are  filling up with  people just  like you who  are priced out  of suburbs closer to the  city and  who  eventually put their own stamp on the “new” area.
Another alternative to your  first  choice is to buy  a property still within  your  chosen area but  that needs a lot of work  — or one  that originally may not  have  been a residence at all. First-home buyers are a creative-thinking lot and are able to convert old warehouses, factories or shops into interesting new homes.
3. Look at your first purchase as a springboard
As property owners, Australians tend not to buy just the one property and stay in it for the rest of their lives.  If the first property you buy isn’t the property you can imagine living in forever, think of it as just your first step onto the property ladder. In four or five years, you can sell it on to someone who is in the same position you’re in today. Between when  you buy and  that time,  your  equity in the  property builds up — from the repayments you make  on the  loan  and  hopefully from  the increase in the  value  of the  property itself  — and  you can  use that financial gain to buy  a property that better suits your  needs.
4. Borrow no more than you afford
Temptation can come knocking, especially in a hot market when prices are rising quickly. Before you know it, you want to go beyond your budget to buy the home of your dreams. And lenders are  only too  happy to lend  you as much as they  think your  income can  bear, even  if you don’t  have  enough money, after  making  the  required mortgage repayments each month, to step outside your  new front  door for the  next  few years.
You need to cover more than the cost of the actual property. You have to foot the bill for a number of transaction costs and costs associated with getting a loan and getting legal advice. These costs can really send you over the financial edge if you don’t budget for them.
Owning a home also involves expenses you may not have had to carry while you were renting. You’re now the  one  who  has  to pay  the  council and  water rates, for that new hot  water system and  to keep  the  house looking  good  over  the  years. Stretch the repayments too far over the limit, and owning a new home isn’t going to be much fun at all.
5. Another property is always around the corner
When you miss out on a property that tugs at your heart, you may feel like you’re never going to find a property you can both love and afford.  Keep going.  Fortunately, new properties keep coming on to the  market each week,  and  eventually you’re  going to find the  one  that fits your  criteria and  your  budget.
You may need to make a compromise on your criteria here or there, but don’t settle for something you’re not going to be happy living in for at least a couple of years. Chopping and changing properties more often than that is too expensive to contemplate.
Have faith  that with  consistent searching and  effort the  right property eventually comes along  and  is available at a price that you’re  able  and  willing to pay.
6. Don’t pay too much for a property
Each property has a fair value.  Don’t be too desperate to find a home. You don’t want to pay more for a property than it is really worth — in terms of its location and in terms of the property itself.  First, paying too much can mean you have less to spend on improving your property. Second, you’re  going to have  less equity in the  property, and  your  loan-to-value ratio may go over  the  80%  level — meaning you have  to pay  mortgage insurance, which  adds several thousand to your  purchase price.
Do your research on how much properties in a particular area are worth, and make sure you get a building inspection report so you’re aware of any problems with a property and how much it costs to repair them.
 7. Keep your emotions in check when looking at a home
Deciding you want to buy a home can be a bit like falling in love — sometimes your emotions can overwhelm your reason. You can fall for a property that looks gorgeous on the outside but may not be suitable to your needs. That cute white picket fence and those gorgeously painted ceiling  roses may conceal a host of structural problems that could cost a fortune to fix up.
Retaining a business-like reserve when  you’re  looking  at one  of the  biggest purchases you’re  ever  going to make  pays  you back handsomely. Take along  a hard-headed friend you can  trust
to point out  negatives when  you look at properties. And if you really fall in love, get a thorough building inspection done before you make  any serious offers.  You should at least know about a property’s faults  before you commit to it.
8. Be sceptical of selling agents
With rare exceptions, remember that the  real estate agent isn’t your  friend — even  if the  agent pretends to be. It’s not  that agents are  against you; the  agent’s just  working  for the  sellers of the  homes the  agency represents. The  agent’s primary interest — and,  in fact,  a legal obligation exists — is to sell those properties for the  highest prices possible. So when  agents take you aside to tell you about the  special prices they  can  get for you, be aware that they  probably say that to everyone.
That’s  not  to say that an agent can’t  help  you find the  home you’re  looking  for. When  you get to know the  agents in the  area, they’re more than happy to inform  you about properties that fit your  bill. Agents  can  help  you to forge  a win-win situation that helps both their clients and  you.  Just  don’t  expect any special favours just  for you.
9. Renovating can wait
Most  first -home owners don’t  have  much spare money to think about anything but  the  most basic renovations after  they  buy a home. But rushing into  the  renovations may not  be the  best approach. You need to give yourself some time  to live in a property to see  how  you can  improve it to better suit  you and your  family. 
By living in the  home for some time,  you get a sense of how  your family uses the  property and  you can  identify:
<ul>
<li>How much time  you need to save  some money to put towards your  renovation.</li>
<li>How much you can  afford  to spend on your  renovations.</li>
<li>How the  inside interacts with  outdoors.</li>
<li>How the  sun  moves through the  home.</li>
<li>What  are  the  bad  features you just  have  to remove.</li>
<li>What  are  the  good  features you want  to enhance.</li>
<li>Which  rooms work  and  which  don’t.</li>
</ul>
10. The mortgage does go down — eventually
When  you buy  your  first  property, your  mortgage can  feel like a huge  weight  around your  neck.  You’re committing to an enormous amount of money, it’s true. And for the  first  couple of years, you may have  to deny  yourself many  of the  treats you’re used to — eating out,  buying CDs, travelling overseas — just  to scrape together those monthly repayments.
After a few years of owning  your  own home, financially positive things begin  to happen:
<ul>
<li>You pay  down  the  principal of the  loan  and  the interest repayments start decreasing as well — almost infinitesimally at first  but,  after  a few years, the  interest amounts become noticeably smaller.</li>
<li>As long as you stay  employed, your  wages  are  probably going to keep  increasing. That  means that the  interest payments become smaller in another way — as a proportion of your  income.</li>
<li>If you buy  well, the  value  of your  home may also  go up, so that the  amount you owe to the  lender also  becomes smaller (as  a proportion of your  home’s value). At the  same time,  your  equity in your  home becomes greater — without you doing  anything much at all. </li>
</ul>
Of course, if you decide to borrow against the  increased equity in your  home, you’re  heading for a bigger  loan  and  being  back where you started — but  at least you know you’ve  got a growth asset on your  hands that you can  sell if your  financial situation changes for the  worst.
<img src="/images/stories/buyingdummies.jpg" style="float: left; margin: 5px;">Karin Derkley is a the former deputy editor of Personal Investor magazine, and continues to write for The Age and AFR Smart Investor. She has also lived through the pleasures and pitfalls of purchasing and renovating her own home. She is the author of <a href="https://www.dummies.com/store/product/Buying-Property-For-Dummies-2nd-Australian-Edition.productCd-0730375560,navId-322442" target="_blank">Buying Property for Dummies</a>, published by <a href="https://au.wiley.com/WileyCDA/" target="_blank">Wiley</a>. The <a href="https://www.dummies.com/Section/index" target="_blank">Dummies brand</a> is celebrating its 21st anniversary in Australia in March. This is an excerpt from Buying Property for Dummies.
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Karin Derkley

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