The younger buyers tend to buy for the backyard. Demand for a home with a garden is less common in those aged over 65 years, with some homeowners admitting to having no time for gardening.

If you’re selling your home, or looking to buy one, don’t forget about the garden and outdoor areas. They can be a major selling point.

In times of uncertainty, there is always a group of successful property investors quietly growing their wealth by taking advantage of any opportunity the market presents them. While many of us will sit and wait for someone to say the property market has hit rock bottom, savvy investors will be buying opportunities created by the current buyers’ market.

Now we will look at some of the rules these successful investors follow to generate wealth.

1. Invest, don’t speculate- Many property investors are speculating. The buy a property emotionally, then hope the market will appreciate. This makes them dependent on outside market conditions to produce profit.
2. It’s about the property- Wise investors never forget the fundamental of buying the best property they can afford in proven locations, and don’t allow themselves to get sidetracked by finance or tax strategies.
3. Property is a high-growth, low yield-investment- Savvy investors know that the quickest method to build a substantial property portfolio is through capital growth.
4. Land appreciates- While it’s true that land appreciates in value, it’s not really as simple as that. Not all land is made equal, and not all land appreciates at the same rate.
5. Buy properties that will always be popular and in demand- Investment grade properties are the type that will appeal to the owner-occupiers. After all it’s owner-occupiers, not tenant or investor demand, that push up property values in the long term.

Keep reading, part 2 continues to outline the ten rules for successful property investment.

1. Cleaning roster: Everyone has different cleaning habits and preferred levels of cleanliness. If you do not have a roster, and stick to it, you can expect trouble.
2. Late rent: Will you cover their late rent to avoid eviction?
3. Owing money for expenses and damages: If you have parties and things get broken, then arguments occur over who is accountable, people may move out and you may be stuck with the bill. There are always households bills, like electricity, gas and water, and these need to be paid. If everyone cooperates it will be easy.
4. Eating habits: If there is no policy in the house about sharing food, conflict is only a matter of time.
5. Different personalities: No policy will ever work for incompatible personality types. Choose your housemate wisely!

For those thinking of getting involved in a strata scheme, there is a vocabulary you may need to know. For example, “by-laws” means a set of rules that tenants and owners must obey, such as no pets allowed, no noise after 11 pm, etc. Another term you need to know is “lot” and how it is different from “common property”. Lots are the units or the apartments that people own, including parking spaces / garages. Common property is everything else on the parcel of land that is not owned by a particular person. It can include common stairwells, driveways, visitor parking, roofs, paths, gardens, main gates, garbage areas, lifts, etc. “Sinking fund” is also a term you will often hear. This is a fund that owners corporation manages: a part of corporate fees payments you make goes towards this long term fund, to be used when major repairs or renewals are needed.

Many plants are toxic, but many only have one part that is poisonous. This may be the leaves, the berries or the stems. Level of poison can range from mild to severe. This means the symptoms could be just feeling crook, to shortness of breath and rapid pulse.

The following common garden plants are known to be the most toxic to children. It is best to remove these plants, or to keep children well away from them. If you are selecting plants for your garden you should avoid these plants altogether and choose alternate plants:
• White Cedar Tree – the fruit from this tree are toxic
• Yellow Oleander – all parts of this plant are toxic especially the kernels.
• Arum Lily – all parts toxic
• Castor Oil Plant – seeds are toxic
• Deadly Nightshade – purple/black berries are toxic
• Lily of the Valley – all parts are toxic including the red berries
• Oleander – all parts are toxic including attractive flowers
• Poinsettia – all parts are toxic including the sap and attractive flowers
• Rosary Bean – the attractive seeds are toxic
• Mushrooms – as there are so many varieties it is best to assume that all mushrooms (or fungi) that spring up in the garden or playground are toxic

Visit www.kidsafe.com.au for more information.

Landlords and agents alike can improve a property’s performance by taking a direct role in its marketing. Marketing of the property should include the surrounding area- cafes, bars, schools, bus stops. Special features help show why the property is different.
Buyers and renters don’t enjoy scrolling through dozens of listings and reading the same, boring descriptions. If the property owner doesn’t provide the information they’re looking for, the renters will look elsewhere.

Investors want shorter vacancy periods and better tenants. If a property is well located in a high-demand location, an investor won’t ever have problems with vacancy. But what investor would not seek to have a pool of tenant applications and be able to pick a ‘better’ tenant for their investment property? What about finding the one that will take good care and look after the property or the one that may stay longer?

The investor’s intimate knowledge of their property together with the real estate agent’s experience and the use of technology can make all the difference between getting the right tenant quickly and having your property remain un-tenanted.

Despite predictions about one, two or even three rate cuts coming over the next six months, a growing number of homeowners are locking in their rates now. Data from the Australian Bureau of Statistics shows fixed loans grew from 10.6 per cent of new housing loans before the most recent rate cut in November to 11.1 per cent.

An odd move you may think given all the predictions are for official rates to fall further this year. But people are simply getting in at what they can afford.

Even though the Reserve Bank will cut rates, the banks need to pass it on. So the fixed market is looking very attractive. Many homebuyers may also be wary that should there be a swift change in the economy, rates can easily shoot back up. We saw straight after the GFC how rates rose, it certainly would have caught some home buyers that were on the edge in terms of repayments, so at least this way they can sleep easy.

Further news on the home loan front could point to a slightly more positive year for property than last, where we saw prices fall across the board. Australian Bureau of Statistics figures have revealed that the number of new owner-occupier housing loans rose by 1.4 per cent in November, while the value of loans rose by 2.2 per cent.

However, home loans aren’t being drawn down – rather potential buyers are simply getting their finance sorted and sitting back and waiting until the right time to buy.

So just what will entice all these cashed-up potential home buyers to jump? Could a February rate cut be enough?

Will 2012 be the time that things rebound on the back of rate cuts? Will it be the year of the unit as people seek out the most affordable housing option? Or is everyone simply jumping at shadows thinking prices are back on their way up after a couple of scraps of data showing the slightest of increases?

There’s one certainty. Regardless of market ups and downs, we all still need somewhere to live, and sales will continue regardless. Despite talk of the market picking up on the back of a small jump in prices in some areas, buyers are still well and truly in the negotiation seat.

Sure, interest rate cuts might give some buyers a bit more confidence. However, if we look at how consumers have generally been treating their cash (keeping it in their pockets, paying off their loans, or stashing it in savings) that would indicate people remain very cautious regardless. And when you’re feeling very cautious you’re hardly likely to run out and take on big housing debts.
On the flip side, for sellers, there’s no room for complacency.

If you want to sell, you need to make sure everything is up to scratch. That won’t guarantee a sale of course, but when you’re trading one of the most expensive assets you’re ever likely to own, you do need to put your best foot forward.

Seven tips to get the sale away:
1. Get the marketing right- So talked about that it seems like old news. Which is why it’s hard to believe there’s still plenty of properties out there that just don’t get it right.
2. If there’s a problem address it- Does your home have a tree close to the property, a steep driveway or a problem with strong westerly sun? Think about ways of addressing this before it becomes a problem for potential buyers.
3. Pick the right agent- Don’t just go with someone you know, or who sold the neighbour’s house. Meet the agent, talk with them, attend some of their open homes and assess the
You want someone who will work hard at following up contacts and has a good manner with people while at the same time being a good negotiator who will also give you practical advice on what to do with your property in terms of its presentation.
4. Be sensible on price- It goes without saying you need to meet the market. Find out where the market is by looking at recent sales. And be honest about the state and attributes of your own property when trying to compare apples with apples.
5. Prepare for viewings at any time-Thanks to the variety of hours people work these days, you might get requests for viewing in the evening or outside of normal times.
6. Get all your documentation in place- The last thing you want is for a sale to fall through because you don’t have all the paperwork in place.
7. Be flexible with your settlement times- Buyers might want time to sell their house before moving into yours, or might be in desperate need of moving NOW.

Don’t be one of those people; take a few moments to ponder these seven practical concerns that will help ensure that your first home becomes the place of luxury and financial freedom you’ve anticipated.

1. Don’t Overspend on Furniture and Remodeling
You’ve just handed over a large portion of your life savings for a down payment, closing costs and moving expenses. Give yourself time to adjust to the expenses of home ownership and rebuild your savings – the cabinets will still be waiting for you when you can more comfortably afford them.

2. Don’t Ignore Important Maintenance Items
One of the new expenses that accompanies home ownership is making repairs. There is no landlord to call if your roof is leaking or your toilet is clogged. While you should exercise restraint in purchasing the nonessentials, you shouldn’t neglect any problem that puts you in danger or could get worse over time, turning a relatively small problem into a much larger and costlier one.

3. Hire Qualified Contractors
Don’t try to save money by making improvements and repairs yourself that you aren’t qualified to make. This may seem to contradict the first point slightly, but it really doesn’t. Your home is both the place where you live and an investment, and it deserves the same level of care and attention you would give to anything else you value highly.

4. Get Help with Your Tax Return
Even if you hate the thought of spending money on an accountant when you normally do your returns yourself, and even if you’re already feeling broke from buying that house, hiring an accountant to make sure you complete your return correctly and maximize your refund is a good idea.

5. Keep Receipts for Home Improvements
When you sell your home, you can use these costs to increase your home’s basis, which can help you to maximize your tax-free earnings on the sale of your home.

6. Don’t Confuse a Repair with an Improvement
Unfortunately, not all home expenses are treated equally for the purpose of determining your home’s basis. Repairs are something that preserves the home’s original value, but does not enhance its value.

Bottom Line
With the great freedom of owning your own home comes great responsibilities. You must manage your finances well enough to keep the home and maintain the home’s condition well enough to protect your investment and keep your family safe. Don’t let the excitement of being a new homeowner lead you to bad decisions or oversights that jeopardize your financial or physical security.

Michael stayed in Tathra, Merimbula and Eden area, and wrote about our local national parks, restaurants, oysters and history.

This exposure is extremely positive for the area and I hope there is more to come. If you want to read the article, follow this link: http://www.smh.com.au/travel/on-the-coast-of-small-miracles-20120112-1pwk9.html