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15th March 2010
Recent Q & A
 
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Laura Svatos
06 January,
2010
12:00 AM

We really feel that we need to get into the market at some point just to secure our retirement and this I put to you, should we start building a portfolio of investment properties ie one bedroom flats and continue to rent on the lower north shore and enjoy the space of a home or should we continue to save and realistically we would have a deposit in about 3 - 4 years for something half decent for us to buy and live in! If you feel we should go the investment route are one or two bedrooms better to buy and which area in Sydney has growth. I was thinking west ryde, ryde as examples of these. If you could take the time to reply I would be most appreciative. Many thanks.

John McGrath 12 January,
2010
12:00 AM

Hi Laura.  Ideal I think would be to save for something that would work for you, but maybe not the 3-4 year dream home.  In 3-4 years I suspect the market may be up by 25%-30% so the cost of your ideal property might go up in value faster than you can save.  The sooner you can enter the market the better, and if you can fast track your savings and get a foot in the market ASAP, that would seem to be the better option.  Good luck!

 
Matt W
07 December,
2009
12:00 AM

John,

With working hours in Sydney increasing and travel times to work also increasing I'm looking to purchase a property in close vacinity to Sydneys CBD . The areas that stick out to me for convenience are Newtown and Erskineville . These suburbs are considered by many to be quiet eccentric. What changes have you seen in these areas recently and are the demographics changing. Do you see value in these areas ?
 

John McGrath 12 January,
2010
12:00 AM

Matt these are two of my favorite areas, bar none. I love them both, with Erskinville providing a bit better value for money at present but definitely on the move.  These areas are both hot in my opinion.

John

 
Stephanie
08 November,
2009
12:00 AM

We are looking to renovate an existing 3 bedroom house by converting 2 of the bedrooms into extra living space, (one into an ensuite and the other informal living). We then have the ability to add 2 or 3 new bedrooms in a currently unutilised downstairs area, ultimately resulting in a 3 or 4 bedroom house, (with a separate study).

However, if we go for 4 bedrooms, 2 of them will be quite small, whereas if we only go for 3, they will all be a reasonably good size. Purely from a re-sale perspective, would it be better to go for 4 small bedrooms or 3 good sized ones?

John McGrath 17 November,
2009
12:00 AM

Hi Stephanie
There is less demand for 4 bedroom homes nowadays than 3 bedroom, so my first reaction is to go for the good sized 3 bedroom. 

When buyers see  a 4 bedroom home, where 1 or 2 of the bedrooms are under sized, they mark it down significantly. So I do think the decent size 3 bedroom option seems to be the way to go. The only factor that would change this is if the home is located in an area where 4 bedrooms are expected in your price range. 
 

 
Ben
04 November,
2009
12:00 AM

I am interested in buying and living in a 2 bed unit in Dee Why. My budget is $350-$400K can I ask you your opinion of Dee Why as a suburb and also a prediction of Dee Whys unit prices going forward?

I know Dee Why is unit city but reading your article about finding the next Paddington my gut feeling is with its new proposed town centre, existing cafe scene & beautiful beach I think Dee Why will be a good performer.

John McGrath 17 November,
2009
12:00 AM

Ben I really like Dee Why.  Anywhere with surf, infrastructure and transport will be a big winner.  The only negative in the short term will be that there is quite a bit of development activity in the area at present, so price rises may take a few years to be significant but if you take a 5 year view DY should outperform most areas of Sydney.

 
Peter Lazerus
14 August,
2009
12:00 AM

Hi John

I am looking to open a real estate agency and understand I need to be different than what is currently in the market. I am wanting to open a total services real estate company that is young and fresh.

In terms of names and branding I noticed that McGraths and Oxygen are marketed differently to the same market and woulkd like to know your opinion on branding for the future for real estate companies.

Regards

Peter

John McGrath 14 August,
2009
12:00 AM

Peter, thanks for your question. Branding and brand recall are two of the most important elements to consider when starting any business, and real estate is no exception. I see a lot of good real estate brands that are very clean, very simple and fresh. This trend will continue I’m sure, and is the best strategy to yield great results by leveraging your brand by making it easy to remember.

Oxygen was branded differently from McGrath for a number of reasons, but key to this decision was to give the brand its own identity and, at the same time, give Oxygen the potential to grow as a business beyond the McGrath brand.

Good luck with your venture.

John McGrath

 
 
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