Ideas to help you when you’re buying, selling or renting
SOLD IN 3 DAYS!
C.R. Martin Real Estate - Issue 3
Don’t wait until Spring Now is the time to sell
8 Sugarloaf Road, Axedale. Sold in 3 days - Full Story on Page 3
IN THIS ISSUE OF PROPERTY NEWS • Choosing the right agent • High demand for period homes and acreages • Tax Planning for your investment Property - Part 1
Phone 5440 7000
02 6568 6599
Message from the Principal Dear readers, In this issue of property news we are featuring four recent sales in the Bendigo area. Two of these properties sold within 1 week and one at auction, showing that there are buyers out there looking for properties, especially period homes and acreages. Now is a good time to sell, don’t wait until Spring. There are many things to consider when selling your property. For example, what method of sale should you use - private treaty or auction? An experienced professional agent can help you make the right decision. Our page 2 article in this issue gives you some tips on how to choose the right agent. It is that time of year again when people start doing tax planning. Our page 4 article has some information to help landlords with this process. Please give us a call if you are considering selling, buying or renting, we are here to help. Kind regards, Clive Martin Principal 0418 510 197
Choosing the right agent
How do you find the best person to sell your valuable asset? When you’re selling your property, you want the experience to be as pleasant and profitable as possible. Choosing the right agent to help you is a big step along the way to achieving these two aims.
An agent can offer expert help in various areas, from giving you tips as to how to present your property for the market to advising you about the price that is most likely to achieve a successful sale.
But how do you know who is the right agent for you? 77 Mitchell Street Bendigo, VIC 3550 Phone: 5440 7000 E-mail: email@example.com Web: https://www.crmartin.com.au
Disclaimer Notice: Neither C.R. Martin Real Estate, its principals, nor Newsletter House Pty Ltd, nor the publishers and editors of articles in this issue, accept any form of liability, be it contractual, tortious or otherwise, for the contents of this newsletter or for any consequences arising from its use or any reliance placed upon it. All the information contained in this publication has been provided to us by various parties. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. All interested parties should make and rely upon their own enquiries in order to determine whether or not this information is in fact accurate. ©Newsletter House Pty Ltd 2018 Ph: 02 4954 2100 www.propertynews.info
Ask around If you haven’t dealt with a real estate agent before, a good starting point is to talk to anyone you know who has sold a property and ask the name of the agent who helped them. You can also check recent local sales of properties similar to yours, and contact the agents who sold those properties. As well as providing you with information about the local market, talking to these agents will help you to decide on the one with whom you feel you have the right rapport and trust. Be businesslike You need to feel comfortable with your agent but you also need to remember it is a business relationship, with both parties hoping to benefit from a successful result. Don’t be afraid to check the agent’s experience and to ask how much commission will be charged.
Be realistic As well as being guided by your agent’s knowledge of the market, you should also do some homework yourself to make sure you have some idea of the top and bottom prices you could expect for your property. An agent who suggests a price that seems unrealistically high may not be the best person to sell your home. Ask questions The right agent should be able to communicate well and to explain the selling process to you. Ask about costs such as advertising, check the proposed marketing program, enquire about whether open houses would be beneficial and get your agent’s opinion about the presentation of your home. The answers should help you to know whether you will be happy to entrust your valuable asset to this agent.
Period homes & acreages are in high demand
If you’re thinking about selling, there’s no better time than now. CR Martin Real Estate has a database of hundreds of motivated buyers just waiting for the right property to come along. The agency reports high sales in March; a record month for 2018 so far. And there is potential to exceed that if new listings are added to the market. There are plenty of buyers who are looking for period homes within the $300,000-$400,000 price range, as well as acreage properties.
“Period and acreage properties are selling themselves because they are in such high demand,” says CR Martin principal, Clive Martin. “Now is the time to sell.” The average time it takes to sell property in the Bendigo area is 85 days but the team at CR Martin are smashing that statistic with sales in as little as seven days. Here are some recently sold examples: • 8 Sugarloaf Road, Axedale - sold in 3 days
emailed with notification of the Victorian era character home’s listing. This three bedroom,
one bathroom cottage is exactly what is in demand at the moment in regional Victoria. The
ornamental lacework and hipped roof facade with front verandah and a white picket fence; classic Victorian styles. Inside, three spacious bedrooms, a study and lounge offer space for young and growing families or retirees who like some extra room.
36 Adam Street, Golden Square
The 700m2 property is lush with trees and gardens surrounding the home in the front and backyards. It’s no wonder this quaint home sold in only seven days for $380,000. CR Martin are sales experts in the Bendigo region. The sales team is proactive in selling, which means they will not rest until they find a buyer for your home. Not
• 571 Strathfieldsaye Road, Strathfieldsaye – acreage family property
only will they shout your listing out to their
• 9 Hill Street, Bendigo – Victorian home sold at auction
in brochures, magazines, newspapers as
• 118 Gungurru Road, Huntly – large bush block sold in 4 days.
your home is on the market.
And that’s not all. When Clive Martin listed 36 Adam Street in Golden Square, the agency’s database of potential buyers was
571 Strathﬁeldsaye Road
200-strong mailing list of qualified buyers,
118 Gungurru Road, Huntly
they will use their extensive advertising well as the internet to let everyone know Don’t wait another day to list your home. Contact the skilled team at CR Martin Real Estate to get the ball rolling.
Our Sales Staff Specialists
Phone 5440 7000 Clive Martin 0418 510 197
Melissa Thatcher 0408 298 873
Andrew Johnston 0418 510 150
Corey Lindrea 0419 884 326
Don Richardson 0411 315 745
Alida Robinson 0428 571 413
Nathan Tate 0400 648 668
Paul McKenna 0418 511 798
Leesa Pearce 0408 284 074
Tax Planning for your investment property Part 1 - Our Annual Tax Planning Guide for Landlords With Tax time around the corner we examine possible Tax Deductions for your investment property Owning an investment property can offer financial rewards through tax incentives. There are many expenses associated with your investment property that you can claim for. A qualified accountant specialising in property tax can be your best friend at tax time. But it is also worth knowing the kind of things you can claim for. Maintenance costs These pertain to the physical condition of the property and include things such as cleaning, gardening and pest control. If you maintain the gardens, these costs are tax deductable including such things as dump fees, tree lopping and replacement plants. Any repairs made are generally tax deductable. But be careful, the ATO sees a distinct difference between a repair and an improvement. A repair is restoring something to its original condition whereas as an improvement involves an addition or upgrade. Any improvement is a capital expense and can be depreciated. Management costs These costs include managing the administrative aspects of owning an investment property.
Accounting and bookkeeping would obviously be included as well as the management of your tax. Legal expenses of buying and selling your property are not tax deductible but legal matters pertaining to the property can be, such as the cost of evicting a tenant. Advertising is a claimable expense when you advertise your property for rent though not when you are advertising it for sale, which is a capital expense. Real estate agent fees are tax deductable as are the costs associated with obtaining a quantity surveyor to prepare a capital works and depreciation deduction report. Insurance that is purchased to protect your investment property is tax deductable. Travel expenses can be tax deductable provided the travel is specific to your investment property. If you travel to view your investment property or collect the rent then that must be the prime purpose for the travel in order for you to claim the deduction. Ownership costs These may involves things that occur as a direct result of owning a particular property, so things like council rates or body corporate fees. Financing costs
Expenses in relation to finance arrangements may be tax deductable. These can include bank fees and borrowing costs. The interest payable on your loan is deductable but not the payments made on the principle amount. Other Costs There are a few other things you can claim for when owning an investment property you may not think of like stationery and relevant phone calls. In some circumstances the costs of attending property investment seminars may be tax deductable. Also there is depreciation which is a non-cash deduction that allows you to claim a deduction for the wear and tear of the property over time. This list is not conclusive and every situation is different. It is always wise to keep complete records of everything to do with your investment properties and obtain a qualified property tax specialist accountant for advice. This will be the best way to ensure you maximise your deductions. This is general advice only. Contact your accountant for advice specific to your circumstances.
Our Property Management Specialists
Phone 5440 7000 Kim Rowe