The NSW Property Show with Svetlana Thorpe

In my latest podcast episode, I talk about PEXA, the national electronic conveyancing platform.

I explain what PEXA is, how it works and how it streamlines the property transaction process. PEXA eliminates the need for paper-based transactions and provides a secure environment for exchange of funds and documents.

Listen now on your favourite podcast platform and learn how PEXA has changed conveyaning process 🎧

Is a swimming pool plus or minus when it comes to property value? Some buyers may see a pool as a desirable feature and be willing to pay more for a property that has one, while others may not see it as a valuable addition.

In some cases, a pool may even decrease the value of a property if it is not well-maintained, the design is quite old or if it is in an area where it is not in high demand.

In my latest podcast episode I delve into into the pros and cons. What are your thoughts? Would you buy a property with a pool or not?

In this episode I talk about importance of doing a pre-settlement inspection of the property you are buying.

I talk about when you should do the inspection, what you should inspect and who to do the inspection with. I share a real life example of what can happen during a pre-settlement inspection and what to be aware of.

This is short episode but it's jam packed with useful information. What was your experience with doing a pre-settlement inspection?

I don't know about you, but I have a love-hate relationship when it comes to renovating. I absolutely love the idea of doing a reno project but at the same time, this idea is scaring the living daylight out of me. Why is that? I have no visual or special awareness when it comes to visualising potential of any room, what it currently is and how much better it can be.

I think I would be a nightmare client for any designer or an architect because I wouldn't be able to explain to them what I want. And I don't think I am the only one who feels this way. That's why I have reached out to my friends, Karyn McRae and Helen Lynch from McRae & Lynch Interior Design to talk to me about everything there is to know before you decide to renovate.

Helen & Karyn are a dynamic duo who are not only amazing business owners but also best friends. They have over 30 years of combined experience working of many design projects whether they are residential, retail or commercial office fit outs.

Helen and Karyn explained how does a design project come to live. We talked about what to look out for if you are planning to buy a property that you want to renovate. We talked about budgeting, which is such an important part of any design project and how to stick to your budget. Karyn and Helen talked about the current design trends and whether the reality TV shows like The Block or Grand Designs have had an impact on their business. Helen & Karyn talked about how you should approach your renovation project and how to establish whether your project is viable and successful.

If you are planning to do a serious renovation of your new or current property but don't know where to start and how to approach your reno project, Karyn & Helen have created an online course for renovators, where you will learn about stages of a renovation project, how to prepare a design brief, how to set up a budget and how to avoid making costly mistakes.

Find more information here about McRae & Lynch Interior Design

https://www.mcraeandlynch.com.au

Today I'm interviewing Michelle Cirson, who is a practising construction lawyer with McCarthy Durie Lawyers based in Sunshine Coast. Michelle operates in building and construction law and has extensive experience in the construction industry. She also used to be a builder's contracts administrator so she understands how building companies work and run and what problems are likely to arise.

Michelle and I chatted about house and land packages and off the plan contracts and what is currently happening in the construction industry. Michelle talked about why it is advisable to engage an expert to review a house and land package. Michelle explained what are the main things that she sees can go wrong with building contracts. We also discussed how to conduct a due diligence checks for your builders.

If you are thinking of buying a house and land package or want to buy a land and engage a builder to build your house then this is a great episode to listen to.

There is nothing more important than having a budget when you are planning to buy a property. It will help you in deciding whether you can afford to buy the property or not. As a first home buyer you may be thinking that on top of the purchase price, you only have to pay stamp duty and legal fees. But that's just the top of the list. There are other additional costs that you need to include in your budget.

Stamp duty is the biggest cost that you need to budget for. Then you need to add legal fees, cost of inspection reports, government registration fees, loan establishment fees, lender's mortgage insurance, insurance premium cost, rates and levies apportionment, moving cost.

I talk in detail about what all these fees mean and how they will apply to you so if this is a surprise to you then I invite you to listen to this episode. It will be time well spent.

In this week's episode of The NSW Property Show I asked Amanda Farmer questions about what you should know about buying a strata unit.

Amanda Farmer is an accomplished lawyer in the area of strata and community titles law. Amanda is the owner of Lawyers Chambers, which is strata focused legal practice and she is also the host of her own podcast called Your Strata Property. Amanda advises property owners, strata managers, property developers and local councils on various strata title issues.

We discussed with Amanda what it means to own a strata unit. Amanda explained the role of an executive committee, strata manager and building manager. We discussed who is responsible for building repairs and maintenance. Amanda talked about difference between administrative and capital works funds. Amanda shared her tips for first home buyers and we discussed importance of obtaining a strata inspection report before you buy a strata unit.

You can find more information about Amanda here:

https://yourstrataproperty.com.au/

In this week's episode I'm chatting with Melissa Browne who is an ex-accountant, ex-financial planner, a financial educator who is passionate about talking about money, how to make it, save it and how to spend it wisely. Mel's mission is to educate women to reduce their financial overwhelm.

We talked about Mel's early days and her journey from law to accounting and building successful businesses. We also talked about Mel's love of shoes and chocolate.

We talked about the good old Australian dream of owning your home. Mel shared her tips and financial hacks on how to save money for a deposit faster. But we also talked about stereotypical money myths and excuses we sometimes hide behind when it comes to money and our behaviour towards money.

Mel also talked about different ways you can grow your wealth and how to start investing. Mel even talked about her own financial mistakes and also about the best financial decisions she has made.

You can connect with Mel here:

https://www.melissabrowne.com.au/

Mel's useful free resources:

https://www.melissabrowne.com.au/podcasts-nsw-property-show

If you have been tempted to turn your passion for renovating into more than just a hobby then you need to listen to today's episode. I'm talking to Bernadette Janson, founder of The School of Renovating and the author of "She Renovates" Podcast.

Bernadette started renovating as a hobby while she was raising her 4 children and she discovered that she enjoyed turning average houses into beautiful family homes. Bernadette has been renovating and selling properties for over 30 years. In 2013 she established The School of Renovating to share her extensive knowledge of renovating and to inspire others, particularly women, to increase their financial security through renovating for profit.

Bernadette and I talked about what is involved in due diligence for a renovation project and Bernadette shared her tips for beginners. She advised what simple things you can do to add value to the property. We also discussed whether you should do the renovation project yourself or whether you should hire professionals. She shared excellent tips on how to choose tradies and how to set up a budget for your project and how to avoid blowing your budget. Bernadette also talked about renovating strata apartments and what you need to be aware of versus renovating houses.

If you have caught the renovating bug and you want to learn more then check out Bernadette's The School of Renovating.

Links:

Website: https://www.theschoolofrenovating.com

Free guide: The Biggest Obstacle For Women Renovators

This week's episode is very close to my heart. Not only because I'm a conveyancer and reviewing contracts is what I do every day but mostly because I have seen so many times how things can quickly go wrong when people cut corners.

Buying a property is a very serious transaction and it shouldn't be taken lightly. Not understanding contract terms, it's implications is something that can be easily avoided if you engage a conveyancer to have the contract reviewed. You need to be aware of what the terms are, so that you are not surprised at settlement or even after settlement has taken place, because some contract terms can have impact on you even after you purchased the property.

In this episode I give real life examples of issues that I have come across in the contracts. Some of them are serious deal breakers and if you buy such a property, consequences could be dire. I've been asked many times to "cast my eyes" over the contract. Just like a doctor can't give a diagnosis in 5 minutes, a contract needs to be reviewed thoroughly otherwise things can be missed or overlooked.

This episode is not designed to scare you but to make you realise that a conveyancer is on your side and should be someone that you reach out too as soon as you want to buy a property. At the end of the day, you are buying a property that will be either your dream home or your source of income, if you are an investor and therefore you want to make sure that you had the contract reviewed and are satisfied that all is in order.