There’s no denying that since the global financial crisis, funding for investment properties has been more difficult to come by. Checkout Valuations ACT – Property Valuers Canberra.
Every few years, investors should consider refinancing, so let’s look at how property prices may be raised to benefit investors when that time comes.
Begin by doing research.
Check out what’s on the market and how your home stacks up.
Find out what lenders’ current attitudes are by asking around. Learn all there is to know about them and what they demand from their investors. Are their property values fair, are they providing excellent loans to their existing customers, and what is their current stance toward property investing?
Is it time for you to switch financial institutions? This is a popular choice, particularly when lenders are looking to expand their customer base. Before you make a choice, look into all of the facts.
Banks have a bad reputation for property assessments, and it’s never been worse than it is today. Make certain you understand what they’re thinking. Get out there and talk to a few mortgage brokers.
Why not get a head start on the banks?
Make your property seem like a million dollars by taking proactive measures. Do this before any bankers, appraisers, or other lenders come to your house. Make sure your property seems to be worth more than it was the previous time it was appraised.
Here are a few pointers to help you figure out where you can make a difference:
- Stand across the street from your home and take a long, hard look to see whether you like the way it looks. Is it attractive to you? What might you do for a few hundred dollars to make your house seem a lot more appealing and desirable from the roadside? It’s all in the eye of the beholder (who might be a property appraiser!) Is it feasible to instal a new front fence? What about a new letterbox? You know how much a new letterbox can improve a property’s street appeal.
- Is it time to spruce up the inside with a new coat of paint and a good cleaning? If it requires painting, use a neutral colour that will have a higher resale value and will be simpler to touch up between renters.
- Would a new carpet or other floor coverings increase the value of the home? Probably, particularly if they’ve been offline for at least 5 years.
- Is it possible to spruce up the bathrooms for a little investment that will make a huge difference? Did you know that you can purchase paint to paint over tiles? This is especially useful if the tiles are old.
- Examine the curtains to see whether they need to be changed. Drapes and window coverings in general have a strong presence in a space and may make a significant impact.
- Do the pathways and drives seem to be appealing? Perhaps a nice gurney of them would look so much better, particularly if the valuer is coming to see them!
- Is it time to clean up the back yard? Unless you’ve had excellent renters (which I hope you have! ), it’s highly likely.
- Is it necessary to replace or construct a fence?