Whether you are looking to invest in Surfers Paradise property or relocate to the coast for a fresh start, navigating the property market isn't always the most straightforward process. From finding trustworthy tenants to jumping hoops for compliance, there is a good chance you will face a number of challenges on the road to your dream home.
Fortunately, the good people at Ray White Surfers Paradise are here to help. With decades of experience in the local area, and 23 offices spread throughout the Gold Coast, we want to guide you towards achieving your property goals, whatever they may be.
Brothers and owners of the Ray White Surfers Paradise Group Andrew and Gregory Bell have totaled a collective 60+ years in the industry and are dedicated to offering the best services around. Here we talk to Andrew Bell about pro property tips for anyone looking to buy in Surfers Paradise.
For those looking to purchase real estate with the view to renting it out, the idea of finding a property that already has a tenant may, at first, seem appealing. It means there is no period when the house or apartment is empty, so you are covering the cost of the mortgage.
However, Mr Bell advises caution when taking over a property with a tenant already installed.
"Firstly you want to verify the lease that is in place. Sometimes agents can be vague, and will say that the lease runs until a certain date when it actually isn't the case."
You should ensure that there have been regular previous inspections, as they can allow you to get a sense of the tenant, recommends Mr Bell. For further insight, you can of course take a look at the tenant's payment history.
"If you are going to take possession of a property with a tenant, that main thing you want to be sure about is that you're not going to be up against a battle," Mr Bell adds.
Attending an auction can be a potentially daunting process, especially if you really like the property and competition is stiff. In addition, reality TV shows have the tendency to dramatise the whole affair, which can result in some watchers feeling rather anxious about diving into the bidding wars.
However, as Mr Bell explains, you will generally find that properties going to auction represent the more committed vendors who really want to sell, which are the people you want to be dealing with.
According to CoreLogic, the trend towards a greater number of sales at auction has been growing since mid-2012. Over the past year alone, 19.2 per cent of dwelling sales in Australia took place at auction, with houses more likely to sell than units.
Furthermore, the organisation observed that it was the higher-priced homes that were more likely to be sold at auction, with 45 per cent of houses going under the hammer fetching a minimum price of $1million.
"Don't be overawed by it all," says Mr Bell. "Go there knowing what you want to spend, and go to that figure."
In addition, he advises that you try to stay relaxed, but if you do have any concerns or questions don't be afraid to ask beforehand.
If you're looking to buy over the festive season or into the new year, make sure you have a look at our holiday season property guide here.