Love It Or List It Australia

Andrew Winter translates some common real estate buzzwords

Ever wondered what a boutique property really means when you're reading the weekly listings?

If the jumble of words you're reading on the buying or renting pages of your favourite real estate site is making you confused, you're not alone.

Every industry has their buzzwords, which can be very confusing! So, let property expert Andrew Winter debunk some of the commonly used phrases that the real estate industry uses. 

Boutique

What does boutique actually mean in real estate terms?

"This simply refers to a property that's in a different category, something you may describe as quirky or unsual," Andrew explains.

Would he check out a boutique property? "Absolutely!" he exclaims. 

Doesn't it just mean it's small? "Not always," he laughs. "Although it can do. If it says that check out the size of the property before you leave. Unusual doesn't mean avoid - it can also mean a lot of people might be put off by a strange lay-out or an odd floorplan."

Reduced for a quick sale 

What a great turn of phrase, right? Andrew agrees and says it might signal it's time to get your negotiation skills up to scratch!

"This means the owners need to sell now so if you want to get your bidding skills up to scratch start learning what to do!"

> Is now a good time to sell? Andrew Winter answers your questions

Close to transport

Although this sounds like a wonderful prospect, Andrew advises to be wary.

"It could mean the stop is literally three metres from your bedroom window, or the train track is so close that you'll know the timetable by heart, or maybe you’re directly under the flight path," Andrew cautions. 

"If you see something you are unsure you can live with when you first view the property, that's unlikely to change in your mind over time."

Renovator's delight

One of Andrew's favourite terms is 'renovator's delight'.

"How many times have you seen this, only to discover it's a knock down shed-like building," Andrew says.

Also Andrew warns that you might need to know you've got a lot of cash stored up for a real eastate agent to write that on a board! 

"The photos are more than likely to instantly back that up, so they have to say it before you think it!"

Watch Andrew explain it all below: 

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