The Hottest Colour Trends for 2022

Life has not been the same since Covid-19 happened. But the one thing that remains unchanged, bringing joy and comfort during these most difficult times, is the magnificence of our landscape.

Then, it is no surprise that Dulux’s Colour Forecast 2022 got its inspiration from our natural surroundings, echoing our longing for a simple life and improving wellbeing through our ties to nature and other people.

This pandemic has helped us feel more connected than ever to our home. Simultaneously, there is a renewed longing and excitement for the future without the pandemic. Aptly, then, the pandemic helped shape the 2022 forecast, which consists of three main colour palettes: Restore, Flourish and Wonder.

Restore

Focusing on simplicity and sustainability, Restore comprises calming neutrals and sharper, natural shades ranging from buttercreams to pumice and moss.

Flourish

Comprising ripe, bolder tones like dusty rose, petrol blue and desert red, Flourish stimulates our yearning to experience everything to the fullest.

Wonder

Featuring summery and playful colours, including cornflower blue, lilac and lemon. Wonder brings regeneration and growth.

The colours can be used alone or combined with the other colours, adding tonal furnishings for a pleasant domain. Colours connect us to a space, giving it a different feel from other parts of the home by bringing a different mood or vibe.

If you are still unsure about adding colour to your space, start with the bedroom, whether it’s the master’s or your child’s bedroom, because outsiders will not see your creation. Since it’s private, you may do something as simple as painting the wall behind your bed with one colour to serve as a focal point of the room.

The study corner, which has probably become your home office, is another space where you can add colour, as it will distinguish the space from when you start work and when you end during each work day.

Another is the front door, where a beautiful colour will make a personal statement, setting apart your home from your neighbours.

6 Tips to Attract the Right Tenants

House affordability continues to be an issue in Australia, forcing many people into rentvesting. This is when people rent their dream home while they either purchase in another area or save to purchase a place eventually.

For those who are seeking to make some roots in a particular location, making your property a dream will help you attract good quality tenants.

Here are the 6 helpful tips to make your rental property a dream home for potential tenants:

  1. Spending, even a little, on your investment property is beneficial in the long run

Some landlords’ reluctance to spend money on their property may cause long vacancies between tenants. A little spending on some quality features will be a great help not only in attracting the right tenants but making your property standout among all the other properties.

  1. Purchase top-quality appliances

Although quality appliances will be more expensive, the useful life of these items tend to be longer. Spending right the first time will pay off in the long run and good quality appliances will definitely appeal to quality tenants.

  1. Choose minimal and classic

It’s so enticing to purchase fancy and modern fixtures, fitting and appliances. However, you might be wasting your money if these items go out of style in a year. Pick minimal and classic styles for downlights, ceiling fans, and other fixtures.

  1. Stick with easy-care and simple

In line with the classic and minimal style, ensure your property is an easy-care, fresh and clear blank canvas for future tenants to create their own. Don’t be tempted to excessively design or furnish your home, unless it’s right for the space.

  1. Climate control is essential

You’re probably not concerned whether your property has property heating and cooling if you’re not living in it. But this can be a turnoff for prospective tenants. Make sure you install heating and cooling, where you can. A split-system air conditioner in the living room, and the bedrooms, if you can afford it, will help in providing comfort and ensure your property attracts good tenants.

  1. Prepare your property for inspection

Similar to purchasing a home, prospective tenants want to see a property and be wowed by it and imagine themselves living in it. If you currently have a tenant and they are not exactly tidy, you could ask if you can have a cleaner come in the home for a day or two before inspection day.

Getting quality tenants is not easy sometimes, but with some smart spending on your property and thinking about how to improve your property in the eyes of prospective tenants, the chances are high of your property standing out among other competitors.

What Sellers Need to Know About Auctions

Auctions, in real life, are not that complicated but it’s important for sellers to understand everything about this popular sale method.

Here are some tips for sellers on auction day:

Before auction day

Planning your strategy requires work. Here are the things that will happen before the auction.

  1. The marketing campaign

A marketing campaign usually runs for three to four weeks before auction day. A campaign consists of advertising and open homes, working with prospective buyers and delivering contracts.

  1. Set price expectation

The day prior to auction day, you and your agent talk about price expectations. An important part of this process is the feedback received throughout the campaign.

Both parties must also agree on the reserve price, the number at which the auction becomes “on-the-market,” plus any prospective seller bids; a method for encouraging bidding.

  1. The agent explain the auction process

To make the seller fully informed, the agent will go through what will happen on auction day. The location of the auction can either be at the property or offsite, like a boardroom.

Auction Day

The rules that govern auctions vary from state to state.

  1. Final public showing

Normally, the final Open for Inspection happens immediately prior to auction day.

At least 30 minutes prior to the start of the auction, your agent must present certain documents relating to the house and verbally provide information to prospective buyers.

  1. The auctioneer will carry out legal disclosure of information

Here are the rules that must be followed during auctions in NSW:

  • The highest bidder at the fall of the ‘hammer’ is the purchaser
  • The auctioneer can make one bid only on behalf of the seller
  • Prior to the auction, the auctioneer is required to disclose that the auctioneer is entitled to make one bid on behalf of the seller
  • The auctioneer must disclose immediately before, or during the actual bidding, that they are making a seller bid
  • The auctioneer has the right to decline a bid that is disadvantageous to the seller
  • The auctioneer cannot accept a bid after the fall of the ‘hammer’
  • With regards to a disputed bid, only the auctioneer can make a final decision
  • The winning buyer’s name must be submitted to the auctioneer as soon as possible

The rule in most states is that prospective buyers must register before auction day to receive a bidder’s number.

Bidding

This is when the actual bidding commences. The auctioneer will call for an opening bid to commence the auction and then permit succeeding bids.

While the auctioneer can influence the tone of increments, bidders can submit other amounts. A seller’s bid can be utilised to motivate buyers to bid.

It is absolutely against the law for a non-genuine buyer to make a bid, which is called dummy bidding or false bidding.

When the reserve price is reached, the property is deemed to be ‘on-the-market’ and is sold to the buyer with the highest bid. Typically, a 10% deposit is paid up front, with the remaining to be paid on settlement.

If the reserve price is not reached

The property is passed-in if the reserve price is not reached. Commonly, the highest bidder is provided the first opportunity to negotiate with the vendor.

It is your agent’s job to do the work. A property doesn’t necessarily have to be sold at auction. There are circumstances when an auction fails, such as if it rained on the day or the main buyer fell ill.

It is not true that you will get less if your property gets passed-in. Your property can still be sold under auction conditions until 12 midnight on the day of the auction, sold in the following days or at another auction at a later date. 

 

 

Common Fears When Investing in Property and How to Overcome Them

Real estate agents help identify and solve their client’s worries about the property market.

Here are the top 5 common fears that are holding back buyers.

  1. Fear of paying too much

Many buyers feel that they are navigating the property investment market blind because of the lack of accurate price guides and the usual method of buying via auction which has no price guide.

The result is that some buyers become overly cautious, spending too much time on researching on an ever-changing market and end up with analysis paralysis in which they are unable to decide whether they should move forward or not.

The only way to conquer this fear is by conducting market research diligently. Don’t take price guides too seriously; do your own sales research, seek experts for advice and rely on current data. Just make sure your research doesn’t hold you back from acting if you come across the right property.

  1. Fear of purchasing the wrong property

 Another common fear among buyers is the fear of missing out on the right property.

Buyers tend to be undecided on many issues. Do they buy a smaller house closer to the city or do they choose a location much further where houses and lands are bigger? Do they buy a house that they renovate or something that is already complete? Which suburb is better to live in?

Real estate agents advise buyers to make time to outline a strategy for their property purchase. Your strategy should take into consideration several factors including where you’re at in your life right now, your short term personal/family goals and things that are important to you, etc.

It comes down to understanding your priorities. There are not many people that can afford to compromise when it comes to buying property.

  1. Fear of past experience with selling agents or auctions

Some buyers can be overwhelmed by the process of buying a property. These buyers include those who are entering the market for the first time or those whose experience with an agent, purchase or auction were not so good.

Some people think that they will be scammed by an agent because they’re not transparent.

You can overcome this fear by doing research on the common buying processes such as negotiating for a private sale or bidding at auction.

Get to know your local agents and you will soon learn how they do business, each of their differences, and become more comfortable in dealing with them.

  1. Fear of the property market crashing

No one can accurately forecast the movement of the property market, leaving some buyers fearing a bubble or a crash.

Some buyers fear purchasing at the peak of the market and paying a high price and that the market might crash. Or if the economy weakens, they might lose their job and become unable to pay their mortgage.

While investors may need to watch the market to know the right time to buy, others might not need to do this. For example, if you’re purchasing a home and plan to live in it for a long time, the market is less of a worry. The perfect time to buy is when you’re financially and emotionally ready.

  1. Fear of missing out – FOMO

The intangible fear of missing out is the most emotional of all property fears. This when buyers feel that the right property is coming soon and they will miss it if they purchase now.

You shouldn’t focus on what properties have already been sold or what properties may be for sale next week. This is pointless. What you can do is to ensure you have carefully covered the whole existing market and learn what the pipeline looks like over the next few weeks.

Fighting the fear

A little fear is all right, normal even. But as everything in life is, too much of anything is bad. What are the fears that are holding you back from the property market and how can you overcome those fears?