If you’re planning on buying, selling or renting real estate in 2019, you need to know about the current trends in this industry. If you simply go for what you think is worth the money, you may realize a bit later that you could have made a much better deal. In order to prevent such regrets, make sure you know the going rates, trends, and features that influence the price of real estate. Here is a list of the most valuable tips realtors have compiled for this year.
All that glitters is not gold
Wherever you wish to sell or buy real estate, you’ll find people hyping a suburb or a part of town at the expense of other parts. In order to check whether the hype is justified, check median property prices, data showing the impact of interest rates and the average number of people looking for property in that area versus the number of properties on sale. That should give you a very good picture of the real state of affairs.
Is location that important?
The answer is simple: yes, it is. In 2019 people are still going to value the location of properties greatly. If you’re buying one, make sure you look for a home that is close to the places you are interested in, such as your workplace or good schools for your kids. Also, think of your home as an investment, since you may not live in it for long and choose to move soon for some reason. Don’t buy a property in an area where the prices have been going down for some time. It’s very likely that the trend will continue in the future and you’ll lose more money.
Ask any Australian about the importance of home design and they’ll tell you that it makes a lot of sense to look for a house which already has every amenity necessary for living down under. For example, you’ll see many popular plantation shutters in Sydney and the area around it, since they provide excellent protection from the sun, which is much needed in the summer. Also, homes that are energy efficient are becoming more and more popular, since people wish to save money on running costs and contribute to the protection of our planet.
The trend of sharing your home with others, even if they are (still) not part of your family, is also pretty much alive. So, if you believe your relationship is serious, the sooner you start living with your partner, the better off you’ll be in terms of finances. Also, you’ll be able to save more money, which is necessary for your next investment in real estate.
Keeping an open mind
Buyers are becoming increasingly picky when it comes to real estate, which is understandable. Standards are getting higher every day and so are the expectations. Still, this natural urge to get what you want can easily turn into stubbornness, which can cost you dearly. Namely, if you have your heart set on a particular suburb because of the rising value and refuse to consider a neighboring one, you’re actually making a big mistake. The fact that one area is doing good means that those around it will soon start following suit.
Timing is important
Like in many other things in life, timing can play a very important role when it comes to properties. Each real estate market has periods when there is more or less demand, which is reflected in the availability and prices. If you are buying, try to wait for the time of year when prices are lower (usually the cold season). On the other hand, if you’re selling, start offering your home as soon as the winter is over to get the best possible price.
As you can see, these golden rules and trends have been unchanged for some time now, but each market has its own peculiarities and you need to be familiar with them if you want to do well when it comes to investing in real estate.
This post was written by Diana Smith. Diana is a full-time mom of two beautiful girls very passionate when it comes to home decor and the latest DIY projects. In her free time, she enjoys exercising and preparing healthy meals for her family.