Special Levies in NSW Strata: What apartment buyers need to know

THE APARTMENT GUY | INSIGHT Nº004

The Apartment Guy is a series of practical insights to help apartment buyers understand what to look for, what questions to ask and how to make more informed property decisions.

$50,000 special levy. Red flag? Not necessarily.

Imagine finding an apartment you love.

The location is right.
The building presents well.
The apartment fits your brief.

Then you discover there’s a substantial special levy attached to the building.

$20,000.

$30,000.

Maybe $50,000 or more.

For many buyers, that’s enough to stop the conversation.

And I understand why.

But a large special levy doesn’t automatically tell me that a building is a bad place to buy.

It tells me I need to understand why the money is being raised.

Because sometimes a special levy is evidence of a building with serious problems.

And sometimes it’s evidence of an owners corporation that’s actually dealing with them.

Those are two very different things.

What is a special levy in NSW strata?

When you own an apartment in a strata scheme, your regular strata levies contribute towards the costs of running, maintaining and repairing the common property.

Strata levies are paid into funds managed by the owners corporation. The administrative fund covers day-to-day expenses, while the capital works fund is used for major building works such as replacing roofing, lifts or fencing.

But sometimes there simply isn’t enough money available.

The NSW Government specifically advises buyers that special levies may be needed when a strata scheme doesn’t have enough money to pay for large capital works or unforeseen expenses.

That’s where things become interesting for me as a buyer’s agent.

Because the existence of the special levy is only the beginning of the story.

$50,000 tells me how much. It doesn’t tell me why.

Two apartment buildings could each have raised a substantial special levy.

On paper, they might look equally concerning.

But dig deeper and the circumstances could be completely different.

One building may have identified a significant issue, commissioned the appropriate professional advice, agreed on a rectification program and raised the money required to get the work done properly.

Another may have years of deferred maintenance, recurring problems, inadequate reserves and an owners corporation that has repeatedly reacted to problems rather than planned for them.

That’s why the number alone doesn’t tell me enough.

That’s why I wouldn’t recommend ruling out an apartment simply because the words special levy appear in the strata records.

I’d want to know what sits behind them.

Are low strata levies always a good sign?

This is something I think apartment buyers need to understand.

Low strata fees can look very attractive when you’re comparing properties.

Less money out of your pocket every quarter. What’s not to like?

Except low levies can sometimes mean a building hasn’t been putting enough money aside for future work.

The NSW Government specifically cautions prospective strata buyers that low levies could mean a steep rise in future fees.

That’s an important distinction.

I don’t necessarily want to see the cheapest strata levies.

I want to see a building that appears appropriately funded for the property it has to maintain.

What changed for NSW strata schemes in 2026?

This is particularly timely because NSW strata laws changed again on 1 April 2026.

Strata schemes are required to have a 10-year capital works fund plan to help identify and budget for the repair, maintenance or replacement of major common-property items.

From 1 April 2026, NSW strata schemes must use a standard form when preparing a new 10-year capital works fund plan or revising an existing plan.

For a buyer, that planning can provide useful information.

But understanding the figures is only part of the job.

What I’m looking for is the bigger financial story.

Does the way this building has been maintained, funded and managed give me confidence in what my client may be buying into?

That assessment isn't based on any one figure or document. It's about understanding how the pieces fit together.

Because I’m not just interested in the levy owners have already been asked to pay.

I’m interested in whether the building appears financially prepared for what comes next.

The special levy may not be the thing I’m most interested in

This is where experience matters.

A large special levy naturally attracts attention because there’s a dollar figure attached to it.

But when I’m assessing an apartment for a client, I’m looking beyond that number.

I want to understand the decisions, history and circumstances behind it.

A special levy rarely exists in isolation. Its significance becomes clearer when you understand how the issue arose, how it has been managed and what remains unresolved.

That's where experience and professional judgement matter.

Because a $50,000 levy funding a clearly defined and professionally managed project may tell me something very different from a building with no special levy but significant unfunded work sitting on the horizon.

Why context matters more than the headline figure

A special levy is information.

It’s not a verdict.

The same applies to high strata fees, low strata fees, defects and capital works balances.

None of those numbers should necessarily be considered in isolation.

They form part of a much bigger picture of how a building has been maintained, managed and financially prepared for its future.

And there’s a current statistic worth paying attention to.

Building Commission NSW’s 2025 Strata Defects Research Report, published in November 2025, found that 53% of surveyed NSW strata apartment buildings had serious defects.

The same research found waterproofing defects were the most prevalent serious defect at 22%, followed by fire safety systems at 16%. Encouragingly, newer buildings registered from 2022–2024 showed lower rates of serious defects than buildings registered from 2018–2021.

For me, that reinforces why understanding the bigger financial and maintenance picture matters.

Before I recommend an apartment, I want to understand the financial story

For me, due diligence isn’t simply about finding problems.

It’s about understanding them.

A special levy might make me recommend walking away.

It might not concern me once I understand the circumstances.

Or it might lead me to investigate something else entirely.

That’s the judgement involved.

The size of a special levy tells you how much.

It doesn’t tell you why.

And before my client buys into a building, I want to understand both.

Buy with confidence.

If you’re thinking about buying an apartment in Newcastle, Lake Macquarie or the Hunter, send me a message or book a complimentary call before you sign the contract.

Book a complimentary call
 

A note on this article: This information is accurate to the best of my knowledge at the time of publication. Strata legislation and guidance can change, so always check the most current information and seek professional advice relevant to your circumstances.

Sources

NSW Government — Buying a strata property

Current guidance for prospective strata buyers covering strata levies, capital works funds, special levies, financial health and strata reports. The guidance specifically cautions that low levies can mean steep increases in future fees and that special levies may be needed where there isn’t enough money for large capital works or unforeseen expenses.

Buying a strata property — NSW Government

NSW Government — Guide to strata law changes for strata committees and owners

Current guidance on the 2026 strata reforms, including the standard form for 10-year capital works fund plans and their role in identifying and budgeting for major common-property expenditure.

Guide to 2026 strata law changes — NSW Government

NSW Fair Trading — Changes to strata laws

Confirms the NSW strata law reforms that commenced on 1 April 2026, including changes relating to standardised 10-year capital works fund plans.

Changes to strata laws — NSW Fair Trading

Building Commission NSW — 2025 Strata Defects Research Report, November 2025

The research found that 53% of surveyed NSW strata apartment buildings had serious defects. Waterproofing was the most prevalent serious defect at 22%, followed by fire safety systems at 16%. The research also found lower rates of serious defects among newer buildings registered from 2022–2024 compared with those registered from 2018–2021.

2025 Strata Defects Research Report — Building Commission NSW

The biggest risks are often the ones you can’t see

The Apartment Guy | Insight #003

I’m sharing a series of practical insights to help apartment buyers understand what to look for, what questions to ask and how to make more informed property decisions. This is the third in the series.

Fresh paint can hide a lot. So can a beautifully renovated kitchen. When buying an apartment, some of the biggest risks are hidden behind the walls—and they’re often the ones that cost owners the most.

Walk through an apartment inspection and it’s easy to be distracted by what you can see.

The natural light.

The renovated bathroom.

The beautiful kitchen.

The outlook from the balcony.

That’s exactly what open homes are designed to showcase.

But here’s something many buyers don’t realise.

The apartment is only one part of what you’re buying.

Some of the most significant issues affecting apartment owners are hidden from view.

They’re behind walls.

Above ceilings.

Beneath waterproof membranes.

Inside fire safety systems.

And you could inspect an apartment ten times without ever seeing them.

Did you know?

According to Building Commission NSW’s 2025 research, published in April 2026, the two most common serious defects identified in NSW strata apartment buildings were:

• Waterproofing
• Fire safety systems

The same research also found that newer apartment buildings are experiencing lower rates of serious defects, suggesting recent building reforms are beginning to make a positive difference.

That should reassure buyers—not alarm them.

Because the lesson isn't that apartments are risky.

The lesson is that good due diligence matters.

The encouraging news is that the industry’s biggest risks are well understood.

Which means they’re also things you can investigate before you buy.

Waterproofing isn’t just a leaking shower

When people hear the word waterproofing, they often imagine a small leak in the bathroom.

In reality, waterproofing failures can affect balconies, rooftops, planter boxes, podium slabs, basements and external walls.

Water has an extraordinary ability to find the smallest weakness.

Left unresolved, it can lead to corrosion, concrete deterioration, mould, damaged finishes and expensive remediation works.

The challenge is that none of this is necessarily visible during an open home.

A freshly painted ceiling doesn’t tell you whether it was repaired last week because of water ingress.

A beautifully renovated apartment doesn’t tell you whether the balcony membrane failed two years ago.

That’s why presentation and building condition aren’t always the same thing.

Fire safety is about much more than smoke alarms

Fire safety is another area buyers rarely think about.

Yet it’s one of the most important building systems in any apartment complex.

— Fire doors
— Fire-rated walls
— Smoke control systems
— Emergency lighting
— Exit signage
— Fire hydrants
— Routine inspections

These systems work together to protect residents if something goes wrong. When upgrades are required, they can become significant projects for an owners corporation.

Again, it’s not something you’ll identify by walking through a beautifully presented apartment.

So what?

This isn’t about becoming suspicious of every apartment building. Far from it. It’s about recognising that a visual inspection only tells part of the story.

An apartment can look immaculate while the building has significant maintenance challenges.

Equally, an older building may look less glamorous but have an outstanding maintenance history, a proactive owners corporation and strong financial planning.

Buying with confidence isn’t about finding perfection.
It’s about understanding what you’re buying into.

Here’s where experience matters...

When I’m assessing an apartment, I’m not looking for reasons to walk away.

I’m looking for reasons to understand more.

If waterproofing has been mentioned, I want to know:

  • What caused the issue?

  • Was it professionally investigated?

  • Was it properly rectified?

  • Has it returned?

If fire safety works have been recommended, I want to understand:

  • Have they been completed?

  • Are they budgeted for?

  • Are they still outstanding?

  • Is the owner’s corporation proactively managing the building?

The answers to those questions tell me far more than a cosmetic renovation ever could.

Good due diligence looks beyond the obvious

One of the biggest mistakes buyers make is assuming that if they can’t see a problem, it probably doesn’t exist.

That’s simply not how apartment buildings work.

Many of the most significant issues are hidden inside the building itself.

The good news?

Those issues often leave a trail…
Engineering reports
Maintenance records
Strata minutes
Capital works planning
Expert advice

Good due diligence is about bringing those pieces together before you commit—not after.

Buy with confidence

Buying an apartment should be exciting. It shouldn’t feel uncertain.

The goal isn’t to avoid every building that has ever experienced an issue.

It’s to understand what questions to ask before making one of the biggest financial decisions of your life.

Because when you understand what’s happening behind the walls—not just what’s in front of them—you make better decisions. And better decisions lead to greater confidence.

If you’re thinking about buying an apartment in Newcastle, Lake Macquarie or the Hunter, I’d be happy to help you investigate the things most buyers never get to see before they purchase.

Buy with confidence.

If you're thinking about buying an apartment in Newcastle, Lake Macquarie or the Hunter, send me a message or book a complimentary call before you sign the contract.

👉 deanpinterbuyersagent.com/book-a-call

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Research
Source: Building Commission NSW, Research on Serious Building Defects in NSW Strata Communities (2025 Research), published April 2026. The research found that 53% of surveyed NSW strata apartment buildings had at least one serious defect, with waterproofing (22%) and fire safety systems (17%) identified as the two most common categories. It also found that newer apartment buildings are showing lower rates of serious defects, suggesting recent building reforms are improving outcomes.

Buying an apartment? A defect isn’t the whole story.

The Apartment Guy | Insight #002

I’m sharing a series of practical insights to help apartment buyers understand what to look for, what questions to ask and how to make more informed property decisions. This is the second in the series.

The presence of a building defect doesn’t automatically make an apartment a bad purchase. Understanding the story behind it is what really matters.

One of the quickest ways to scare an apartment buyer is to mention the word defect.

Understandably, it raises questions.

Will it cost me money?

Is the building poorly constructed?

Should I walk away?

These are sensible questions, and they’re often the first ones buyers ask.

But over the years, I’ve learnt something that surprises many people.

A defect isn’t where the decision ends.

It’s where the investigation begins.

Did you know?

Recent NSW Government research found that more than half of the strata apartment buildings surveyed had at least one serious building defect.

The encouraging news is that newer apartment buildings are showing lower rates of serious defects, suggesting recent building reforms are making a positive difference.

Statistics like these can be confronting.

It’s easy to read them and conclude that apartments are risky.

I see them differently.

To me, they reinforce the importance of good due diligence.

Because the existence of a defect tells me very little on its own.

The story behind it tells me much more.

So what?

Not every building with a defect is a poor purchase.

In fact, some of the best apartment buildings I’ve inspected have had defects identified at some point in their history.

The difference was how those defects were managed.

Were they identified early?

Did the owners corporation engage the right experts?

Was the issue professionally rectified?

Was there a clear maintenance plan moving forward?

Or has the same problem continued to appear in meeting after meeting, year after year?

Those are two very different stories.

One demonstrates proactive management.

The other may suggest deeper issues that deserve closer investigation.

This is why I encourage buyers not to become fixated on the word defect.

Context matters.

Good judgement comes from understanding what happened next.

Here’s what I’d be looking at...

Whenever a defect appears in the records, my questions become much more specific.

What exactly was identified?

Not all defects carry the same level of risk. Understanding the nature and extent of the issue is the first step.

Has it been professionally rectified?

A completed remediation program tells a very different story from an unresolved recommendation sitting in meeting minutes for several years.

Is there evidence of recurring problems?

Patterns are important.

If the same issue continues to reappear, I want to understand why.

Has the original repair failed?

Is there another underlying cause?

Or is it simply the normal monitoring of an issue that has already been resolved?

Has the owners corporation planned ahead?

Good buildings don’t simply react to problems.

They plan for them.

A healthy capital works fund, professional advice and proactive maintenance often tell me far more about a building than the defect itself.

This is where local knowledge matters.

One of the advantages of my many years of working with apartments across Newcastle, Lake Macquarie and the Hunter is that usually, I already know the building’s story before I open the strata report.

I may know the building has been through major remediation works.

I may know it has a reputation for being exceptionally well managed, with a proactive owners corporation and healthy financial planning.

Or I may know there have been recurring issues over the years that deserve much closer investigation.

That local knowledge doesn’t replace due diligence.

It simply helps me know where to focus it.

Because experience isn’t about making assumptions.

It’s about recognising patterns.

It’s about understanding the history of a building, the way it’s been managed and the questions that are worth asking before you commit.

Anyone can read a strata report.

Experience is knowing where to look before you open it.

Anyone can read a strata report.

Experience is knowing where to look before you open it.

This is one of the biggest misconceptions I see.

People often assume the value of due diligence lies in obtaining information.

In reality, the value lies in interpreting it.

A strata report might be hundreds of pages long.

Some buyers see a defect and panic.

Others see a clean report and assume everything is perfect.

Neither response tells the whole story.

The real skill lies in connecting the dots.

Understanding the building.

Recognising patterns.

Asking better questions.

That's where confidence comes from.

Buy with confidence.

Buying an apartment isn't about avoiding every building that has ever had a defect.

It’s about understanding the building’s story, how it has been managed over time and whether you can move forward with confidence.

Every apartment has a story.

Every building has one too.

My role is to help you understand both before you commit.

If you’re thinking about buying an apartment in Newcastle, Lake Macquarie or the Hunter, I’d be happy to help you make an informed decision before you sign the contract.

Book a complimentary call.

Let’s Chat — Book a Complimentary Call

Buying an apartment? You’re buying into a building too.

The Apartment Guy | Insight #002

I’m sharing a series of practical insights to help apartment buyers understand what to look for, what questions to ask and how to make more informed property decisions. This is the second in the series.

What looks like the perfect apartment can become an expensive mistake if you overlook what’s happening beyond your front door. Here’s why understanding the building is just as important as loving the apartment.

You’re not just buying an apartment.

You’re buying into a building.

It sounds simple, but it’s one of the biggest mindset shifts I encourage apartment buyers to make.

When most people walk through an open home, they naturally focus on what they can see. The kitchen. The bathroom. The floor plan. The natural light. The view. The balcony.

And they should.

After all, it’s the apartment they're hoping to call home or add to their investment portfolio.

But while buyers are assessing the apartment, my attention quickly turns to the building itself.

Because that’s where some of the biggest opportunities—and some of the biggest risks—can be found.

Did you know?

Two apartment buildings can look almost identical from the street...

Yet one could have a healthy capital works fund, proactive management and well-maintained common property, while the other could be heading towards major defects, special levies and years of owner disputes.

You’d never know simply by standing in the foyer.

That’s because the real story of an apartment building is rarely told through fresh paint, polished tiles or a beautifully styled display apartment.

It’s told through the way the building has been managed over time.

So what?

When you buy an apartment, you’re not simply buying four walls.

You’re buying into a building, a strata community and a way of living.

The quality of the building, how it’s managed, the financial position of the owners corporation and the decisions made by fellow owners can all have a significant impact on your experience and the long-term value of your property.

I’ve bought apartments, advised on apartments and spent years assessing strata properties across Newcastle and beyond.

I’ve seen buildings that are exceptionally well managed, where owners have planned ahead, invested in maintenance and protected the long-term value of their properties.

I’ve also seen buildings where maintenance has been deferred, difficult decisions avoided and problems allowed to grow until they become expensive for everyone involved.

The apartments may have looked equally appealing on inspection.

The buildings were telling very different stories.

That’s why I don’t believe buying an apartment is simply about finding one you love.

It’s about understanding exactly what you're buying into.

Here’s what I’d be looking at...

Before recommending any apartment to a client, these are some of the questions I’d be asking.

Is the building well maintained—or simply well presented?

A freshly painted foyer doesn’t necessarily tell you how well a building has been looked after over the past decade.

I’m looking beyond appearances to understand how maintenance has been approached over time.

Is the capital works fund keeping pace with future maintenance?

Every apartment building will need ongoing maintenance…

Lifts age.

Roofs deteriorate.

Waterproofing eventually requires attention.

The question isn’t whether money will need to be spent.

It’s whether the building has been planning for it.

Have recurring issues been raised at strata meetings?

Patterns matter.

One isolated issue may not concern me.

The same issue appearing year after year deserves a closer look.

That’s often where valuable insights begin to emerge.

Would I feel confident owning part of this building?

This is probably the simplest question I ask myself.

Because when you buy an apartment, you’re becoming part of that community.

You’re sharing responsibility for the building's future with every other owner.

The apartment tells one story. The building tells another.

One of the things I enjoy most about apartment buying is uncovering the story behind the property.

Sometimes the story is reassuring.

A proactive owners corporation. Healthy financial planning. Well-documented maintenance. Owners who genuinely care about protecting their investment.

Other times, the documents reveal a very different picture.

Recurring defects.

Deferred maintenance.

Financial pressure.

Disputes that have continued for years.

None of these things automatically make an apartment a poor purchase.

But they do help paint a much clearer picture of what ownership is likely to look like after settlement.

That’s information every buyer deserves to have before making one of the biggest financial decisions of their life.

Buy with confidence.

Buying an apartment isn’t about becoming an expert in strata.

It’s about having someone beside you who knows what to look for, understands the right questions to ask and can help you see beyond the presentation.

If you’re thinking about buying an apartment in Newcastle, Lake Macquarie or the Hunter, I’d be happy to help you make an informed decision before you commit.

Book a complimentary call before you sign the contract.

Book a Call

Why home owners haven’t fallen off the mortgage cliff...yet!

Keeping abreast of the current market and its fundamentals is something essential for me to do my job well.

I love it when something comes across my desk that I know will be of interest to ALL of my clients…in all sectors and price points! Like this interesting read… posted by Jim Malo courtesy of Domain.com on why homeowners with a mortgage haven’t YET fallen off the mortgage cliff.

In summary, it read — recent analysis highlights the worsening crisis in housing affordability in Australia.

Economists had feared that borrowers shifting from low fixed-rate mortgages of around 2% to higher rates near 6% would face significant financial strain, potentially leading to forced property sales. According to the Real Estate Institute of Australia, housing affordability has declined by 15% over the past five years, with a smaller 13.4% decline over the last decade.

Dr. Diaswati Mardiasmo, PRD’s chief economist, emphasized the alarming acceleration of unaffordability, stating, “It’s definitely accelerating in terms of unaffordability.” She pointed out that the COVID-19 pandemic has been a major driver, saying, “In the past five years that’s COVID. It’s a supernova event that pushed unaffordability.”

Jim Malo also noted that without the Reserve Bank of Australia’s interest rate hikes, house prices could have risen even further, potentially reaching a median price of $1.4 million. Economists agree that the low interest rates during the COVID boom allowed buyers to take on more debt, inflating property prices, and that the lack of housing supply, exacerbated by high interest rates, continues to worsen the situation. “We need more supply,” said REIA president Leanne Pilkington, underscoring the importance of addressing the fundamental issues in the market.

Interesting times!!

Buying Property in NSW series

‘GOOD TO KNOW SERIES’ | PART 4: ‘WHAT DOES OLD SYSTEM TITLE’ MEAN?

In the first years of the NSW colony, there was no system for recording land transactions. In some cases, brief particulars of a sale were written on the back of a land grant, in many cases, ownership changed without any evidence at all.

This changed in 1802 when all parties were invited to record their land dealings, forming the first book of the ‘Old Register’.

These records were occasionally updated. It is almost impossible to relate these records to any parcel of land that exists today.

On 18 January 1817, a proclamation providing for the registration of deeds related to land with the Office of the Judge Advocate, also part of the Old Register.

The introduction of the Torrens Title System in NSW with the commencement of the Real Property Act 1863 marked the end of Old System land titles and the beginning of the system we use today.

The biggest difference between ‘Old System Title’ and ‘Torrens Title’ is that with Torrens Title, a registered interest is absolute. With Old System titles, ownership needs to be established through a chain of titles. A chain relies on various Deeds, each document being used to verify the others.

Buying Property in NSW Series

‘Good to know series’ | Part 3: What does ‘Limited Title’ mean?

Thousands of properties in NSW, are designated by the Land Registry Services (LRS) office as having ‘Limited Title’. But all it means is that the boundaries of the property have not yet been surveyed. Which can be remedied if necessary.

‘Limited Title’ can be removed by a registered surveyor registering an accurate survey of the land with the LRS. A plan of delimitation requires the surveyor to re-establish the original deed boundaries and to compare those boundaries with existing occupations (including buildings constructed) on the land.

This can be more expensive than a standard surveyor’s plan of the land, and there are some LRS registration costs.

Before purchasing a ‘Limited Title’ property, it is advised to have a survey done to confirm there are no boundary encroachments. It is also a good idea to take out title insurance, which is a low-cost way of protecting yourself if it turns out that the boundaries as understood at the time of purchase are significantly different. (Discuss options with your legal representative)

If you want to develop/subdivide ‘Limited Title’ land, you may be required to register a plan of delimitation with LRS.

It may also be difficult to gain approval for a home loan for a property with a ‘Limited Title’, some banks and lenders in Australia will be reluctant to lend on ‘Limited Title’ properties without the property being surveyed. While ‘Limited Title’ has little impact on a property in 2022, some banks are still cautious about lending as there could potentially be a misdescription on the boundaries or easements. For this reason, some lenders will refuse to lend on ‘Limited Title’ property.

If you are considering purchasing a property with a ‘Limited Title’, it’s best to have the limitation removed by working with your legal advisor.

Buying Property in NSW series

'GOOD TO KNOW' SERIES | PART 2: What does Strata Title mean?

When buying a property that is part of a Strata title, you not only own the unit, apartment, duplex or townhouse (called the lot), but you are sharing the ownership of what's called 'common property' which includes areas like foyers, lifts, fences, gardens, swimming pools, car parks etc.

These areas are the shared responsibility of all property owners of the building. Strata title properties come in many forms, residential units or apartments and townhouses are the most common—but they also exist in commercial property, serviced apartments, retirement villages and some retail. 

You can change or renovate your strata home (interior only) if the changes are cosmetic, for any building or structural works you will need the approval of the strata manager/committee.

There are fees involved which can vary greatly, depending on the type and quality of the individual property being considered.

A strata report can be very helpful in determining the viability of purchasing a strata titled property.

The need for building insurance is usually covered in the strata fees (always check your contract for confirmation), you will however need to organise your own personal contents insurance.

Buying Property in NSW

'GOOD TO KNOW' SERIES | PART 1: What does Torrens Title mean?

Torrens title is a land title system which means you are the sole owner of the property/land (and the home on it). You have the freedom to change, improve and renovate—all with-in your local council regulations and guidelines.

The Torrens Title System was first introduced in 1858, named after its inventor, Sir Robert Richard Torrens. Torrens title simply means the purchaser owns the land and building. Which can also be known as “freehold”. Most properties in Australia are Torrens title.

There are usually no ongoing monthly or quarterly fees associated with a Torrens title.

Engaging a Buyer’s Agent

So what does a Buyer’s Agent do?

Essentially a Buyer’s Agent will help you locate and secure the best available property for your needs and budget at the best price—in the shortest amount of time possible. Potentially saving you thousands of dollars and many hours of your precious time!

It is said that ‘moving’ is in the top three most stressful things you can experience (after the loss of a loved one or divorce). The whole real estate landscape can be extremely overwhelming.

A good Buyer’s Agent is there to eliminate the overwhelm by taking the reins and guiding you through the whole process.

Firstly, we listen—your Buyer’s Agent must have acute listening skills! We take a concise brief, research, match you to the best property, negotiate and secure!

A Buyer’s Agent is for you if you are:

  • Families looking to upsize or downsize

  • An investor looking for great returns

  • Time poor professional’s

  • Interstate or overseas buyer’s

  • Investors looking to purchase property within your Superannuation Fund

  • First home buyers looking to enter the market

  • Buying “OFF MARKET” properties not available to the general public

Check before engaging a LOCAL Buyer’s Agent:

  • Do they have established networks and track record to access opportunities OFF the market?

  • Do they have born and bred local knowledge, offering historical and relevant information on all the BEST suburbs? An extensive history provides a deep understanding of the nuances of each suburb.

  • Do they have industry knowledge in buying all types of property at all different price points?

  • Do they have access to local industry leaders in conveyancing, lending and property inspectors?

  • Are they totally unbiased and operating independently from a selling agency? 

  • Do they have the knowledge to know when to buy and when to walk away?

Whether your budget is $700,000 ‘or’ $5.7 million—your Buyer’s Agent should have a service to suit and to help you buy your next home! I know I do, and I am ready to help you!

If you have any questions, fill out the form to the right. I look forward to helping you.

Talk soon, Dean : )

Is July 2022 a good time to buy Property?

Over the last few months I have have been asked the same question almost daily…“Dean, I’m concerned about moving forward with a purchase, is now the time, or should I wait?”

Followed by… “when is the best time to buy property?”

So, it prompted me to provide some answers.

Firstly, I must say—I am currently seeing the best buying opportunities I have seen for the past 2 years. I am seeing more and more opportunity while others delay and over-think the market.

Remember whenever there is fear and hesitation in the market from the majority, that is the best time to buy!

Current market tips:

  1. There are no crystal balls with predicting the property market, but my long term strategy of… buying well located blue chip property, in the best streets, of the best suburbs with the most potential within your budget— will lead to strong future growth and will be worth more in the years to come.

  2. Don’t listen to too much main stream media and the 6pm news! Get your property information from an experienced property buying professional with LOCAL experience and with YOUR best interests at heart.

  3. Property is a long term game! Making decisions based on other’s opinions and current media hype may not be the best way forward for you.

  4. Have a strategy. Most of my clients who have made fantastic financial gains using my strategies and experience with their buying decisions have done so going against the crowd—while listening to my recommendations from an “on the ground” position!

  5. Most of all, you have to be comfortable in your decisions.

  6. Have a great lender/bank behind you.

  7. And finally, have a cash “buffer” for any unforeseen events.

There will always be a reason not to buy now, but don’t be one of those people who say…“What if i only bought that house ‘x’ years ago, I would be so far in front now!!!!”

If you need some property assistance or advice, don’t hesitate to reach out!

The Home Guarantee Scheme 2022—what you need to know about it.

Great news for first home buyers and single parents…there are thousands more guarantees available as of July 2022!


A Quick Snapshot

  • First Home Guarantee (formerly the First Home Loan Deposit Scheme): 35,000 places p.a. for first home buyers. 5% minimum deposit and pay no Lenders Mortgage Insurance (LMI). 

  • Family Home Guarantee: 5,000 places p.a. for single parents with dependents. 2% minimum deposit and no LMI.

  • Regional Home Guarantee {NEW}: 10,000 places p.a. for Australian citizens and permanent residents to buy or build a new home in regional areas. 5% minimum deposit and no LMI. Must not have owned a home in the last 5 years. 

All three components of the scheme will be open to singles earning up to $125,000 p.a. and couples with a combined household income of $200,000 p.a.

These changes come into effect from 1 July 2022.

Are my Buyers’ Agent fees tax deductible?

It depends on whether you are buying a home to live in or buying an investment property.

BUYING AN INVESTMENT PROPERTY
Great news, if you have employed a Buyer’s Agent like myself to help you with purchasing an investment property, while not immediately tax-deductible against income tax, my fees may form part of a cost base for capital gains purposes in the future.

This means my fees may reduce any capital gains tax (CGT) you will have to pay when it comes to selling your investment.

BUYING A PROPERTY TO LIVE IN
Unfortunately, my fees will not be deductible for a property you are buying to live in, because the property you will live in will not be generating an income for you.

The Australian Tax Office (ATO) views only expenses incurred relating to you earning any assessable income can be deducted.

Always seek independent advice on ATO related matters.

Prepare your home for sale with these top 10 tips to ensure you get the maximum value for your home.

1. VENDOR advocate AND SALES ADVICE

Are you deliberating on whether to sell or not? Trying to decide the right timing, the right agent, preparing your property for sale, selecting the right form of sale, handling contracts and documentation can be a little overwhelming.

I will bring a wealth of experience to your journey—making the selling process stress free. I was a top-performing sales agent for many years and have worked with and alongside many of the preferred local agents—giving me insight to their track records and the way they do business. This insight can be a game-changer.

BOOK A 1:1 CONSULTATION BEFORE DECIDING TO SELL!

I’m here to help with this overwhelming process.

2. TAKE THE HOME OUT OF YOUR HOUSE

Clear the home as much as possible to create the feeling of space. Removal of unused furniture and personal belongings can make a huge impact, allowing potential buyers to see themselves in the home.

3. ADD MASSIVE VALUE WITH SMALL COSMETIC CHANGES

A fresh lick of paint in neutral colours is the most cost-effective change you can make. It will lift and freshen with a minimum toll on time and budget. Floor coverings need to be clean and clear, replace worn carpets or use quality rugs to add warmth.

4. CREATE MORE STORAGE

One of the biggest issues that potential buyers bring up is—lack of storage. Create as much storage as possible...shelving, cupboards, store things—converting spare space into usable storage is paramount.

5. TARGET MARKETING

Professional photography and descriptive texts are paramount to unveil what can't be seen from the street. Ensure your marketing is targeted appropriately to negate the need to spend thousands of dollars unnecessarily on incorrect marketing and advertising.

6. IMPRESSIVE OPEN HOMES

It's your first opportunity to impress. Take the time to clean up, clear things out and let the light in. Light a candle or two, open the windows, make the beds, hang fresh towels and make sure the yard is free from droppings from your furry family members.

7. CORRECT PRICING

Make sure your agent gets it right! The right price will ensure success. Too high and you miss the valuable initial peak selling period. Too low will create too big a gap to bridge once the negotiations get underway.

8. PRESENTATION AND STYLING

Getting the advice of a professional to maximise the design impact of your home can mean the difference of thousands of dollars of profit. Whether it’s rearranging your own furniture or hiring pieces—the result of your profit can be extraordinary. See my Presenting and styling video for more on this.

9. CONCEAL THE CRITTERS

While your furry family members are loved and adored by you, potential buyers may not feel the same. It’s best to take them for a walk while any inspections are taking place.

10. LET THERE BE LIGHT

Clean all windows and window furnishings. Make sure the lights work—replace globes and clean or replace light fittings. A light-filled home gives a feeling of openness and joy. It is emotionally uplifting and can have a positive impact on the mood of the inspection.

Property Advice from well meaning sources

Advice comes in many forms…

A well meaning friend or family member (usually limited to their personal experiences)
A friendly Real Estate Agent
Social media
The 6 o’clock news
Newspapers and magazines

But unless the information given to you is unbiased, transparent, honest, with no agenda, independent and informed—coming from a trained professional who is only interested in YOUR needs…be very careful.

Our advice is completely unbiased and tailored to your individual needs and requirements.

As buyers agent’s, we provide you with a strategic plan that will include purchasing options that are available, but not widely known. Which when used, can save you hundreds of hours and thousands of dollars.