Unrealistic price

A strong seller’s market should not mean that a vendor should not set their price sale above comparable sales.

Poor presentation

Buyers will disregard purchasing a home if the presentation is poor. This might mean things such as cleanliness, a neat and tidy garden and a well-maintained kitchen.

Increasing Price

Increasing your price after listing the property. Keep your expectations realistic and stick to your plan.

Lack of photos and photo quality

As much as possible, buyers want to see what they can expect before actually doing inspections. It would help them decide if they would like to consider the property or not. Help the buyers make up their mind with attractive photos of your property.

No web presence

Increasing your web presence online opens you up to a whole new market of buyers. Unfortunately with local newspaper, they don’t do the job anymore. Cutting corners in marketing will do you harm more than good.

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If you’re wondering who locals trust to sell in Northcote, partnering with a reputable, community-focused agency like Collings can make all the difference in getting your property sold.

Look at listings in the area

Really try to focus on the properties that are being listed within the past 6 months. This will give you a good indication where houses prices are at.

Compare similar properties

Look at properties that are listed with the similar square footage, similar number of rooms and similar style to your property.

Calculate the value of your home

After finding 4 comparable results, find the average of these prices and depending on the seller market, increase deduct 10% from the average figure.

These are just the tips on setting the price of your property. For more tips, read our article on 7 tips for purchasing a house.

For more informative real estate videos like this, head on to our Youtube channel.

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Fedja Bilic, property executive, walks us through some of the things that we should consider before putting our property on the market.

Make a good first impression

Give that front garden some tender loving care, give the front fence a lick of paint, and maybe even consider sprucing up your letterbox.

Repaint the walls

A fresh lick of paint can do absolute wonders. It can really revitalize and energize the property and really give it that brand new feel.

Replace or polish the floors

If you have carpets that are outdated, stained or damaged, consider replacing them. On the other hand, if you have floorboards, give them a nice little polish and it’s really going to freshen up the home.

Fix any potential hazards

Now something that’s important in every home is of course is safety. So be sure to fix any potential hazards such as uneven walkways, any leaning fences, and even electrical outlets.

Repair any leaks

Any leaks or missing tiles will be one of the first thing a building inspector notices at a building inspection. Fixing these things will definitely help you with selling your property.

Aside from the ones mentioned above, there are more things that people look into when determining the condition of a home that you might want to look into.

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Choosing the Right Agent

Before listing your property, it’s crucial to select an agent who not only understands the local market but also has a proven track record of achieving top sale prices. For instance, collaborating with the highest-performing agents by sale price in Northcote can provide insights into buyer expectations and effective marketing strategies. These agents’ expertise can guide you in making informed decisions to enhance your property’s appeal and value.

In visualising the kind of life that you’d have, looking into the property alone is not as encouraging as assessing the neighbourhood as a whole. Today, we’re going to look at the surrounding establishments around Northcote which makes it a good community to live in.

Northcote, a multicultural and all-inclusive neighborhood gives off a welcoming vibe to everyone from all walks of life. This is probably the reason why our grandmas and grandpas prefer to stay in this suburb. Lively and chirpy, that’s how Northcote is to its residents with the never-ending rosters of cafes, bars and retail establishments to choose from. Your eyes are also in for a treat with the immaculate Edwardian and Period houses and mansions  that pepper the streets.

High Schools

• Northcote High School

Established in 1926, Northcote High School is a highly successful co-educational school with strong traditions, a comprehensive co-curricular program and a rich intellectual culture.

• Santa Maria College

Santa Maria College is a progressive Catholic secondary school for girls. Established in Northcote in 1904 by the Sisters of the Good Samaritan, Santa Maria has a long tradition of empowering girls and young women to be fearless in their learning, to stand together on issues of equity, diversity and justice, and to take their rightful place in society.

Primary Schools

• Northcote Primary School

Northcote School has existed on the present site since 1886, the new school building opened its doors to pupils in September 2000. In recent years they have added a series of extensions to their facilities due to the growing demand for places and to enrich their curriculum provision.

• Westgarth Primary School

Westgarth Primary School acknowledges that the behaviour of staff, parents, teachers and students have an impact in the school community and culture. They acknowledge a shared responsibility to create a positive learning environment for the children and young people at school.

• St. Joseph’s School

St Joseph’s Primary School is a learning community that values a culture of excellence and a passion for life-long learning. Catholic and multi-faith families welcome as they embrace positive partnerships between school, home and parish.

• St. Christopher’s School

St. Christopher’s School is a Catholic school dedicated to the development of the whole child where all programs are underpinned by the Gospel values. They aim to challenge children to reach their potential through a broad curriculum tailored to meet every child’s individual needs.

• Croxton School

Croxton School is a government Prep – Year 12 school catering for students with a mild intellectual disability. It provides a safe and supportive learning environment where students are challenged to achieve and reach their full potential.

• St. Bernadette’s Primary School

St Bernadette’s Primary School is a Catholic school under the pastoral care of the Paulist Missionaries. It is located in North Sunshine in the west of Melbourne.

Cafes

• Espresso Room

The Espresso Room lives and breathes excellence in food and coffee. They are passionate about quality local produce, always sourcing the very best fresh food available.

• Bicycle Thieves

Bicycle Thieves is named after a 1948 film in which an unemployed man has his bike stolen in Rome. It’s a tribute to Northcote’s Italian heritage.

• Tinker Northcote

Nestled in the heart of Northcote on High Street is Tinker, the home of mischievous dreamers. Tinker dreams big when it comes to their modern take on Melbourne brunch classics and coffee culture.

Restaurants

• Estelle

Aside from the superb food, Estelle has a venue designed to suit all occasions.

• Primo

Primo offers the best gluten-free, vegan, vegetarian and meat pizza in the area.

• Tahina

Plant Based Middle Eastern Cuisine inspired by the streets of Tel Aviv

• Laiko

Modern Greek food in a stylish modern restaurant awaits at Laiko in Melbourne. They offer breakfast, lunch and dinner, with all menus featuring a mix of traditional and modern Greek food.

• Brother Bon

Brother Bon is a 100% vegan restaurant catering for those with food allergies.

Aside from the delicious food they offer, they also pride themselves for being solar powered and for paying fair wages.

Shopping

• Northcote Plaza

Northcote Plaza Shopping Centre is a sub regional shopping centre located in Northcote, lying approximately 5 kilometres north of the Melbourne Central Business District.

• Northland Shopping Centre

With over 320 fashion, food and lifestyle stores, Northland is Melbourne’s largest shopping destination in the northern suburbs. 

Parks

• All Nations Park

All Nations Park is a contemporary 13 hectare regional park created on the site of the former ‘Northcote Landfill’. Situated behind Northcote Shopping Plaza the elevated site provides views, which are a striking feature of the park.

• Gumbri Park (Batman Park)

Previously known as Batman Park, Gumbri Park is well-known for its luscious greenery and space for celebrations of all sorts, or even just a casual stroll.

• McDonell Park

This is the home ground for Northcote Junior Football Club aka The Cougars.

• Johnson Park

Johnson Park boasts of its structures that are well-loved by kids of all ages.

Beauty / Leisure

• Northcote Aquatic and Recreation Centre

They run over 50 group fitness classes each week, offer swimming lessons to people of all ages and abilities, and provide child care services in a safe and engaging environment.

• F45 Northcote

F45 Training workouts are designed to unify the muscle groups of the body and to help make you feel and perform better in all aspects of your life.

• Garden of Yoga

The Garden of Yoga studio is an inner city oasis of calm, colour and creativity. A nurturing and inspiring light filled space – vibrant with art, plants, music and good vibes!

• Allure Beauty and Wax

Allure Beauty and Wax is a professional beauty services in Northcote. It specialises in beauty services such as waxing, tinting, spray tans & eyebrow sculpting.

Pets

• Northcote Animal Hospital

Northcote Animal Hospital (NOAH) is Melbourne’s leading vet clinic, providing the best possible veterinarian care for cats, dogs and all your other pets. 

• All Nations Park

All Nations Park is a contemporary 13 hectare regional park created on the site of the former ‘Northcote Landfill’. The official opening on the 23 February, 2002 was attended by an estimated crowd of over 10,000 people. Situated behind Northcote Shopping Plaza the elevated site provides views, which are a striking feature of the park.

• Northcote Plaza Veterinary Clinic

Our veterinary clinic provides professional and affordable health care for your pets. We aim to make your pet feel at ease in our clinic with a caring and gentle approach to treatment and consultations.

Join Fedja Bilic as he walks you through Northcote in this video:

Median home sale price, quarterly price range, median rent, rental yield of Northcote, VIC as of September 2022. Screenshot from https://reiv.com.au/market-insights/suburb/northcote.

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When navigating the vibrant Northcote property market, it’s essential to make informed decisions. Many prospective buyers and sellers take the time to compare real estate agents in Northcote to ensure they partner with professionals who understand the local landscape. At Collings Real Estate, our deep-rooted knowledge of the area, combined with our commitment to excellence, positions us as a trusted choice for your real estate needs.

Well-configured floor plan

Choose an apartment that has a well-configured floor plan. There are many apartments out there that really waste all the square meterage inside the apartment. They say it’s 80 sqm, but the liveable area is more like 65 or 70; hallways stay clear, study nooks stay clear. Choose an apartment where every sqm is being utilised.

Owner corporation fees

Keep an eye out for the owner’s corporation fees. This is an ongoing expense that you’re going to be paying throughout the ownership of the property. Make sure it’s as little as possible in the beginning because it will increase over time.

Related: 6 Essential Steps Buyers Should Take Prior to Purchasing a Property

Tenant-to-owner ratio

Take into consideration the owner-to-tenant ratio. Ideally, you are moving into a building that has more owners than tenants. That way, you get to know exactly who you’re living around and limit the chances of “noisy” neighbours.

Building Composition

Make sure when you’re buying an apartment, you check the section 32 for cladding. Cladding has become a massive drawback in buying an apartment as of the last five to seven years and frankly, it’s just unsafe. If there’s cladding, steer away.

Head on to our Youtube channel and be updated on the latest real estate tips.

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Find a guarantor

If you can find someone to make the rental payments on your behalf, this would be favorable to the landlord as they will receive the payments on time.

Set up direct debit

If you set up a direct debit, this will ensure that the funds will automatically be debited when the rent is due.

Show proof of regular payments

If you entered into a financial contract, where you make payments regularly and on time, please provide this to your agent as this would show willingness to make payments.

Provide evidence of income

If you can provide us a letter of reference from your saying how many hours you worked, and the amount you get paid, it will help us to decide if you can financially support the rental payments.

There is still a chance for you to secure your dream property even without having previous rental history. Everything is possible as long as you provide all the essential documents and proofs needed.

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Extra costs

Make sure you’re leaving enough room for water rates, council rates and potential strata fees.

Having a reasonable budget

Having a reasonable budget means that you’ll be prepared for the other costs involved in owning the property as previously mentioned.

Arranging insurance

Just like owning a car, it is important that you will arrange insurance on your property.

Clouded judgement

Many purchases rush into a decision due to clouded judgement. Make sure that you read over the necessary documents and do your due diligence before purchasing a property.

Looking for further readings about this topic? Read up on our blog about choosing between buying now or waiting.

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Be prepared.

Make sure that you all your documentation are ready. For documentation, we require payslips, ID, and a savings account statement.

Book an inspection.

Property managers won’t accept an application unless you have viewed the property. In this blog, we have enumerated the do’s and dont’s in attending an open for inspection that might also help in building your checklist.

Make a good impression.

The more comfortable the property manager feels with you at an open for inspection, the higher chance of being looked at as a favorable tenant.

Get a good rental reference.

If you are a seasoned renter, a good rental reference can make all the difference between your application being accepted for a property and your application being declined.

On the other hand, if it’s your first time to rent and have no rental history, you can still land your dream rental property by following these steps.

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Rental Property Minimum Standards

In 2021, there have been several changes in the Victorian rental laws that include minimum standards when it comes to rental properties.

Kitchen

The facility must include the following:

• food preparation area
• sink
• oven and cook-top that are in good working order
• refrigerator with at least 80 liters capacity
• cupboard with a minimum 0.1 cubic metres (100 litres) of storage capacity

Dining

The dining area should have enough chairs to accommodate the maximum number of residents. The table should be able to comfortably fit the number of chairs.

Bathrooms

• should have at least one toilet for every 10 people
• should at least have one bath or one washbasin for every 10 people
• must be fitted with a privacy latch that can be securely latched from the inside without a key

To view the full list of the minimum standards, visit Consumer Affairs Victoria’s page.

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Stefan Perera, Director of Project Sales, drops some valuable insights for you to consider if you are thinking of building your own home.

Pros

Control and customisation

If you want pink walls, you got it. If you want marble benchtops, you got it. You have the ability to sit down with your architect and develop a design brief to exactly how you want it. Building your home is a complete customisation control.

It’s brand new

Moving into a home where you know no one has ever lived in gives you the reassurance that you’re the first to use every appliance, the first to have a shower, the first to even go to the toilet. If you decide to sell your property in five years time, your property is only five years old. In property years, that’s nothing.

Cons

Distance from the CBD

Unless you have millions of dollars to spend, the likelihood of you purchasing something in the CBD where you’re going to build your dream home is not that likely. A lot of buyers are having to move out farther away from the city to get exactly where they want

Land size

In this day and age, land size is becoming far more hard to obtain, the larger you go. Therefore, when you are building your own home, you are going to have to settle for something smaller, which may not appeal as much to buying something second hand as larger. Keep these in mind when building your own home because the bigger the land, the more money you’re gonna spend.

If you like this content, head on to our Youtube channel where we publish more of real estate tips and tricks.

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As soon as you decided that you will sell your property, appoint an agent sooner rather than later.

You’re gonna find that the agent is gonna work on the property prior to launching to the market and therefore could achieve an off-market sale which means less cost, less time, more money in your pocket.

Set realistic expectations to what your property is worth.

Everyone loves their property. Everyone has an emotional connection to their property. But when you launch your property to the market, it’s crucial that you don’t set the price too high. Setting a price too high will not get you into a sale. So when you’re launching your property to the market, look at the comparable sales, look what’s sold in the area, and tell yourself, “This is what I want but this is what I should spend.”

When it comes to marketing, do not cut corners.

There is a direct correlation to the amount of exposure you will achieve in your property, to the price you will achieve at the end of the campaign.

So when you discuss with your agent what’s going to work best for you, ensure that there are particular marketing efforts in place that enhance your property’s look, feel and aura. Because at the end of the day, the more views, the higher the price, the more money in your pocket.

For more interesting real estate tips, head on to our Youtube channel.

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Avoiding Common Mistakes with Expert Guidance

One of the most significant missteps sellers can make is not engaging a knowledgeable local real estate agent. A seasoned professional brings invaluable insights into pricing strategies, marketing approaches, and buyer expectations specific to your area. If you’re pondering, “Who is the best real estate agent in Northcote?” it’s crucial to research and connect with agents who have a proven track record in the local market. Their expertise can help you navigate the selling process efficiently, ensuring you avoid common pitfalls and achieve the best possible outcome for your property.