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Maximising The Value Of The Property You’re Purchasing By Making Sure It Has These

Purchasing a home is a major financial decision that people take very seriously. Often, knowing exactly what it is that you’re looking for in the property and its surroundings can be a major deciding factor in what you choose to buy. In some instances, these factors can be major value-adding boosters to the property which could help make you a profit down the road.

If you are tossing up between two properties, it’s critical that you consider these factors and determine what might be a profit gain and something that you want.

Quality Of The Surrounding Homes

Having a home surrounded by other properties with a good appearance will make resale easier down the line. The impression that the neighbourhood as a whole gives off is heavily influenced by the homes within it – well-kept gardens, lawns free of clutter and homes that are free of external damage or neglect can add to the overall feel and value of the neighbourhood, and boost the price of your property.

Future Plans To The Neighbourhood & Local Area

Are there plans for further development in the area that might be of interest to particular buyers (such as a community playground, or a shopping centre)? Future plans from the council regarding the infrastructure of the local area or the neighbourhood can be a value-boosting incentive for buyers and sellers.

The Size Of The Property

Is the key value in the property held in what is already existent on the block? The ability to add elements to the property (such as additional rooms or parking) can increase the value of a property. However, you will need to consider if there is space to do so and whether you can obtain council approval.

Ripple Growth

Areas that aren’t necessarily considered ‘hot property’ at the time of your purchase but are adjacent to those that are, are likely to experience a ripple effect with time. This may be because buyers will want the benefits of the ‘hot’ area, but are willing to be within a certain distance from it.

Flat Backyard

This might not necessarily be the main concern if the property that you’re looking for isn’t situated on a large block. However, having a backyard that is flat can make it easier to build additional structures (such as granny flats or decks) on the property without needing to spend additional funds and time on levelling the area.

If you’re someone who often finds it difficult to make large lump sum payments for goods or services, you may want to consider looking into “Buy Now Pay Later” services.

Buy now pay later essentially means that, rather than paying in a full lump sum payment for a product or services rendered, there may be an option to pay through instalments of a certain amount over a set period to make the sum of the full amount in total. This method should allow you to pay in full for the product or service without overly straining your finances – you pay back what you can, as agreed upon when you begin the buy now pay later service.

Some popular buy now pay later services include Afterpay, Zip Pay, Brightepay, and some credit card networks such as  Mastercard and Visa, can offer buy now pay later arrangements.

Though it can be a convenient, immediate solution, it may be challenging to juggle the necessary repayments with other financial commitments. It’s not always the most appropriate method for people, and you should bear in mind your situation and ability in paying back the amounts. 

Before you sign up, keep in mind: 

  • It becomes easier to overspend with buy now pay later services, so know your limits on what you can and can’t afford.
  • You will be charged fees and costs to use the service, which can add up to a princely sum in and of itself.
  • Keeping track of your payments can be tricky if you’ve signed up for multiple services.
  • It could affect your loan applications for a car or mortgage as lenders consider buy now pay later spending just as much as your credit score.
  • Late repayments can appear on your credit report, which affects your ability to borrow money in the future.
  • Layby can be a cheaper alternative to buy now pay later, with no account-keeping or late fees to consider

If you are someone who could make use of BNPL services, you may wish to:

  • Ensure that when using the BNPL service, you stick to a set limit on what you spend so that you can comfortably pay it back later. 
  • Aim only to have one BNPL account at a time to manage payments through, rather than confuse yourself with multiple payments across different providers.
  • Always budget for bills, loan payments and BNPL payments, and 
  • Rather than use your credit card for payments to your BNPL account, consider linking to your debit account instead.

If you would like assistance in planning your financial future, help in managing your budget or some friendly advice, see us for a chat about what we can do for you.

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John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier

David and Alison Parker

I have been consulting J L Noller and Co. (more specifically Jane) for six years and during this time I have found her to be professional, efficient and easy to discuss all accounting and taxation matters with. Her office team are all polite and friendly also.

David and Alison Parker

Business Owner

Carl Gillmore

I have used Jane & the team for the last 6 years for all of my business & personal accounting needs. They have always been professional, easy to talk to & available when we have needed assistance.

Carl Gillmore

Carl Gillmore Landscape

John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier