We hosted a live online chat with Andrew after the premiere of Selling Houses Australia S3. For those who missed it, here is the transcript from his first online chat. Enjoy!
stacytoby: I have a question Andrew- I am trying to figure out what is the best step in selling - put my house on the market, then find a house OR find a house then put my existing house on the market?
Andrew Winter: Sell first, that way you know how much money you will have and be able to sell without pressure. You will find somewhere, it may take time and mean a short time in a rental, but it will be worth it.
shelbell: Hello, what is best day and time to auction when you live on a very busy road? We are about to makeover our house in Rosanna with a view to auctioning in about 2-3 months.
Andrew Winter: You could go for an off site option, only if that is the norm in your area though, don't worry really the road cannot be changed, as we saw on this ep.
shelbell: We thought Sunday afternoon when it is quiet but realestate agent says no one comes at that time so looks like just a busy road auction and make the best of it. Have to get the house looking amazing!! Thanks!
hoogz: Andrew, got a Q. i just a bough a subdived block and the house has been built will my property rise like a house oon a normal size block??
Andrew Winter: It will, but it has a smaller block now, so it is relative but will increase like anything else so don't worry.
Blackstep: we have a single bathroom 3 bdrm home in Southport. The bathroom and wc are separate currently, but used to be one big bathroom/wc combined. Would it reduce the value of the house to make it one room again?
Andrew Winter: Possibly yes - because in a one bathroom home, a separate toilet is handy for any occupier, so leave as is.
Gazzar: How much can I expect to pay for house in STAFFORD Brisbane? Im moving there in June and need a 4 bedroom with study or three with study...updated kitch and bath
Andrew Winter: How long is a piece of string come on! Go to realestate.com.au - enter Stafford, 4 bedroom houses, but enter NO price ammounts and you will see the cheapest to the lowest. Get chatting with local agents too. Happy moving
bunkybunny: Evening - great job in Chatswood. We are renovating and converting a garage how should we present this? We currently have 3 bedroom with open plan lounge/dining/kitchen.
Andrew Winter: Do you still have covered parking somewhere, or this change will not add value - a converted garage on a 3 bed is usually best as bed 4.
Greg: With house prices quickly rising, what would you recommend for first home buyers with a combined income of around $100,000... what should we look for? Or should we hold off and rent for now?
Andrew Winter: Any savings? Don't panic, buy when you can afford to and choose carefully. Try to avoid buying when hardly any homes are for sale and buyers are snappping everything up.
414290: Hi Andrew, really enjoyed the show. Our house was built in 1951 but it has art deco plaster work on all the ceilings but that's as far as the art deco decor goes. Is it worth adding some new art deco features?
Andrew Winter: Could be? Is there demand in your area for older character homes, if there is, it is worthwhile, but only do it with research first - mixing your eras will look weird.
hoogz: Andrew, i bought a house on a sub-divided block, say if i go to sell it in 5 years tie would i be able to get a good price like a house a good sized block, the block is 360sqm
Andrew Winter: You should have paid a certain percentage less for the home now becuase of this small block - therefore that same equation should apply when you sell too. Of course a home well under the suburbs median can increase more; so it could be all good.
Anne: Just wondering, which is worth more, a larger block (by about 25%) or manicured block and more up-to-date fittings?
Andrew Winter: Not a lot of difference in reality. The two differences balance each other out but this is a genralisation - if a big block is very rare and in demand this may not be the case.
JHMC: How do we figure out what is worth doing to our home if we are thinking of selling in approx five years time?
Andrew Winter: 5 years is a long way off stop worrying, but changes that add space are great long term as new kitchens and bathrooms will date.
Jez130880: I bought my first home nearly 2 years ago I would like to keep the house an investment property and rent it out in a few years, I want to renovate the kitchen but am confused on how much I should spend or to what degree? I was hoping you could give me some advice?
Andrew Winter: Kitchen will add value and help rental, just keep to a sensible figure, if the whole kitchen really needs ripping out maybe around 2% of a homes value around $500,000 - difficult to say without knowing more.
Vicki: 4 bedroom house in Chester Hill (near Bankstown NSW) inground pool, double=storey. We are thinking of selling the house, clearing debt, renting and buying a couple of units as investment properties - what do you think?
Andrew Winter: Wow the big lifestyle change - go for it, sell first though, then you will know how much you have and be ready to buy some bargains. Note downsizing means exactly that - say good bye to lots of stuff!!
414310: Hi Andrew, We live in Red Hill Canberra and are looking to move to a larger house. We can not afford to updrade in the area but we are stuggling to pick the right time to sell. Red Hill is a suburb whose value increases quite quickly. Not sure if we should sell now or in a years time.
Andrew Winter: Signs it is a good time to sell in your suburb - lots of demand for homes like yours and very few for sale, agents begging for listings, sold boards everywhere, none for sale etc - go for it then!
Stirling: Hi, Great show. As a buyer, how would you recomend we find houses in the 'before' state, to improve and re-sell?
Andrew Winter: No easy answer on this, ideally you want the wrecks that are also not selling and wait until seller really desperate, it is a cruel world, sometimes the ones too expensive at the start are bargains 6 months later, so track those renos!
Leylek: Hi Andrew, love the show! Quick question...we are trying to sell in a heritage inner city area with approved plans/permit. No other houses have plans/permit. How much value is a permit when selling?
Andrew Winter: Value gain will relate to what the home could be worth with these further improvements made, less the cost of doing them. That is a basic guide, I suggest you employ a professional valuer, really would be worth it in this case.
Shezzie: Hi Andrew, We just love your honest and direct comments with the home owners which in many cases is essential for them. Your whitty sarcasm is keeps us tuned in. Do you find your job to deliver the truth to these people difficult?
Andrew Winter: No I love it - 25 years in real estate being polite most of the time it is like a breath of fresh air - I say polite, sometimes I would be honest - sometimes I would win, sometimes not, but I was always right.
Greg: Andrew, hello, what would be your general advice to first home hunters? Should we buy or stay away?
Andrew Winter: If a suburb is going mad - try the next one on - or find a desperate seller, or home that is the ugly duckling.
sonia: Do you recommend auction or private sale
Andrew Winter: I suggest both - sorry no simple answer. BUT if one method is by far the most popular way to sell in your area genrally go with that it is what buyers are used to in your area.
sonia: i have a corner block would you recommend getting council permit to subdivide as an added incentive for buyers?
Andrew Winter: Of course, any real subdivision potential is a huge value gain - go for it.
Cameron: whats the best place to invest?
Andrew Winter: Australia is pretty good, haha - look anywhere with the right research, timing and deal - the trick is to know an area well before you buy, even if it is a 'tip' somewhere reported on and interstate, study it, go there if you can, get a feel etc
sonia: What’s better off street parking as a garage or garage conversion to studio/home office/gym
Andrew Winter: No real difference in general - BUT if parking scarce losing a garage could be a bigger negative than an extra room.
sonia: I have solar panels installed on my roof does this increase property value at all?
Andrew Winter: It depends on the prospective buyer and what condition they are in. While solar panels may be attractive to a buyer ones that need repair or are costly to maintain may not.
Leylek: Hi Andrew, how much value does a permit/approved plans add when selling in a heritage inner city location?
Andrew Winter: The laws & regulations are different in each state so you best to contact your local council or send an email to the heritage council and see if they can advise you on your situation.
Blackstep: Do you think it would benefit to put a sink in the tiny room with the WC?
Andrew Winter: Yes if you can – if you’re putting in a new toilet, don't forget you can buy ones with a sink built in over the cistern - how cool is that?
414290: Is it worth putting all our stuff in storage and hiring furniture to sell our place?
Andrew Winter: Not if you have some existing great pieces and can work with them. You may only need to bring in a few additional signature items to lift a room.
Cameron: If you bought an investment property would you sell it in 10 years to profit from capital gain or continue to rent it out?
Andrew Winter: Not possible to answer, who knows and in fact the wonderful thing with houses is you can decide to sell when it is right for you.
Shezzie: Hi Andrew, We are thinking of putting in a pool. Just wondering if this will still add value in this current climate?
Andrew Winter: That questiion - OK do most homes like yours in your area have them? If yes it maybe worth it, but not if you are selling right now because the value gain may not cover costs - speak to local agents first .
Jamieg: Can renovating properties and onselling become a viable income?
Andrew Winter: Yes sometimes depends on the right market conditions, right opportunities etc BUT ideally to do this you need property that needs more than new decor. Maybe has untapped sub division potential, extension space etc. I
Nrsa98: Which would you say normally costs more internal or external renovations to a property?
Andrew Winter: For a normal home, if there is such a place I’d say inside BUT that is not a 100% guaranteed.