Your Property New Year Resolutions

By Janet Spencer

Are you guilty of not acting on your New Year resolutions?

By Janet Spencer

Make 2014 the year you do! 

Property shouldn’t be hard.  If you are finding it hard, stressful or unrewarding, something could be wrong and you may need some professional help.  So, here is a list of your property New Year resolutions to do and to check to ensure all is well for the coming year..

• Is it properly insured with the best policy and value for the yearly outlay?
• Is your loan the best structure and best rate that you can negotiate?
• Is your Property Manager delivering on the service promises, providing the communication and service that you need?  If not, move.
• If you have a tenant in your investment and their lease has expired, you may wish to secure a new lease term.
• Act on any maintenance that you can afford to tackle that you know your property needs.  Paint, re-wire, safety cut off switch, repoint the roof, etc.
• Are your smoke detectors working?
• Is your alarm functioning properly?  Should you install an alarm system?
• Have you considered changing your lighting over to LED to save on electrical bills?
• Do you have a water tank at your property?
• Could you put in solar hot water of power and would it benefit you overall with long term cost savings?
• If it is time to downsize, don’t delay, start today?
• Do you need to do a portfolio review on your investments and maybe sell any under-performing property?
• Want to buy an investment property?  Make sure you buy the best you can afford and use a reputable Buyers Agent who is a REBAA member and in Victoria a member of the REIV.
• Do your side fences need replacing?
• First home buyers- start that saving plan or talk to a good Buyers Agent about when and what to buy.
• Investors – can you afford that next addition to your portfolio and when should you action the purchase?

This is not a complete list however I hope it will help some people who own or plan to own property in the near future.

Have a great year everyone and make the most of renewed energy after the holiday period and tackle the “to do list” and get help to do it.

For more up to date information on what’s happening in real estate in Melbourne, contact Janet at  jspencer@buyersolutions.com.au or 0418 101 146.

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