BUYERS WARNED OF SPRING CLEAN PROPERTY
TRAP
28th August 2006
As spring blooms, more homes are flooding the
Perth market and while that means greater choice for investors
it can also provide some traps, warns buyer's agent Trevor Dunkley
Mr Dunkley, director of Property Wizards Buyer's
Agency, said research revealed that, on average, about four
hundred more Perth homes were sold in spring.
"In the seven years to 2005, the average
number of house sales during spring was around 9,680 - up from
around 9,250 during the colder months," he said.
"It's no secret many see spring as a good
time to sell, with homes and gardens looking more attractive
thanks to the sunshine and blue skies - this year being no exception.
"In the week turning to spring, there were
already 9,174 homes on the market compared to 4,878 recorded
back in May this year*."
Mr Dunkley said while buyers could benefit from
a rise in the number of homes available to choose from, people
needed to ensure they did not lose focus on their investment
needs.
"Many homeowners have given their properties
a spring clean in the hope any mini makeover will fetch them
a higher price in the spring market," he said.
"There's no doubt a lick of paint can do
wonders for a home, and in many cases both the seller and the
buyer can win from this sort of touch up, but the most important
thing for buyers to keep in mind when reviewing properties is
to look beyond the cosmetic quick fix.
"Too often people are caught out and pay
too much - they don't realise the spruce-up is just that - a
surface-level clean up that doesn't really add a lot of value
to their investment."
Mr Dunkley said investors could help ensure they
didn't fall into the trap of overpaying by thoroughly researching
the market and then sticking to their game plan.
"Know what you're out there looking for,
know where to look for what you need, decide on your budget
and organise your loan pre-approval ahead of time, and then
only buy properties that meet your strict criteria," he
said.
* Source: Home Open
