Although you might be forgiven for feeling that the world of business has ground to a halt, in fact, transactions are happening every day. They’re certainly not happening in the same volume we saw late last year or the first part of this year but things are moving.
Ex Airbnb properties coming on to the market
You might have read about the ‘ban’ on Airbnb property lets. Although this isn’t a ban on sharing platforms specifically, the restrictions for COVID-19 mean that it’s illegal to stay in one of these types of properties. While this affects more properties in the inner city and the Eastern Suburbs, we have our fair share of these types of properties in Sutherland Shire. Any area of natural beauty is a great attraction and investors who bought in the area often used Airbnb or Stayz or another sharing platform to rent out their properties at a high nightly rate.
Border closures and travel restrictions have led to many former Airbnb properties either coming on to the long-term rental market or being marketed for sale.
Who else is selling or buying?
Other transactions in play include those already underway before the stricter travel requirements and by those sellers who’ve bought elsewhere and have to sell their properties. In addition, we have a large number of Australians returning home after working overseas for several years. They need somewhere to live.
Time to dream (and plan)
We might not be able to head out to visit houses but you can still dream. If you’ve ever bought or sold a home before, you know it can take months to prepare.
So what can you do right now to achieve your dream?
1. Review properties on the online platforms
You’ll find plenty of properties to lust after on Domain.com.au and Realestate.com.au. As we continue this period where we have time to reflect on our lives, why not take stock and decide how and where you might like to live in the future?
2. Contact a real estate agent
What can your real estate agent do for you today? We can (at the time of writing) visit your home to give you an appraisal and offer advice on how to achieve a better price, given the circumstances and general anxiety. If you’re concerned about visitors, we’re conducting virtual appraisals using Zoom or FaceTime. Once you have an idea of the price your home could achieve, you’re better placed to dream about your future in a new home, perhaps in a different part of Australia.
3. Build a checklist
There’s a silver lining to almost anything. For those who aren’t flat out with the triple whammy of homeschooling, working from home and running a household, you’ll have a bit more time to work out what you need in order to sell and buy. Things you can do right now include:
- Appoint a conveyancer. You have time to ask friends and family for recommendations.
- In conjunction with your solicitor and real estate agent, prepare the paperwork.
- Check in with your bank to get a pre-approval for a loan should you need one.
- Prepare your home for sale (by undertaking those maintenance jobs you’ve put off).
While some of us might be feeling a bit trapped, we know that in the coming months there’ll be many people on the move. If the best time to buy property is ‘10 years ago’, the best time to plan is now.
How can we help you today?
While selling and buying isn’t on many people’s radar right now, we know that some of you have no choice. So just be reassured that we’re here to help – no obligations.
