If you’re an Aussie homeowner you’ve probably heard almost 80% of capital city homes going to auction are selling. The majority of private listings are resulting in sales within weeks.

But what if your ‘for sale’ sign is gathering dust?

Or perhaps you went to auction and your property is one of the 20% that failed to find a buyer.

According to experts, there are six chief reasons why some homes – even in scorching markets – do not sell:

 1. Unrealistic price

Real estate experts says this is the big cause of failed home sales in a booming market.

“In my opinion, the number one reason properties do not sell is unrealistic vendor expectations,” says Paul Bevan, Dream Financial Services’ Senior Advisor.

Strong selling market is no reason to inflate your price beyond comparable sales.

Vendors who believe strong selling markets are opportunities to inflate your price beyond comparable sales are sorely mistaken, he says.
“If the vendor thinks their property is worth way more than what the market dictates, then the property will sit on the market and remain unsold until the vendor is willing to ‘meet the market’ i.e. lower their asking price.”

Check yourself: A seller’s guide to auction day – what not to do

 2. You listed for a certain amount and then put your price up

Jhai Mitchell from Elders Real Estate Toongabbie sees this happening occasionally in Melbourne’s current hot market. It’s a major no-no if a vendor really wants to sell.

“This still happens in a hot market as sellers start to get high offers and then they put the price up thinking that that can get more,” says the Mornington Peninsula agent.

“This kills the sale; people begin to think something is wrong with the property. They are right, there is something wrong with the house and that is the seller’s expectations.”

3. Poor presentation

Kylie Harding, Director of Styled to Sell, has been a property stylist for 15 years.

She usually works on properties before they go on sale but says some of her jobs involve properties that are not selling despite a long time on the market.

“An overgrown garden, flaking paint, filthy carpets, bathrooms and kitchens, empty or overcrowded rooms all contribute to the fact that potential buyers can’t, or don’t want to, see themselves living there,” Harding says.

“Potential investors bypass it (the rundown home) too because rental potential while obtaining planning permits etc is low.”

Maximise saleability: 7 rookie errors to avoid when selling your home

4. You’re unmotivated to sell

Photography: Kate Hunter

Do you know why you are selling? If not, you’re probably uncommitted to the sale.

Brisbane real estate agent and author Peter Hutton says this is one of the key reasons a home doesn’t sell when the rest of the market is booming.

Successful vendors will know their “love price” – “the point where a vendor’s desire and use of the money they’ll get from the sale outweighs their desire and usage of retaining ownership over the property,” he says.

“If a seller has not got clear on their ‘big why’, which equates to being under-committed to the sale, or the price they want to make it worth their while to sell is above what the market is willing to pay, even in boom times their property won’t sell.”

If a seller isn’t clear on the ‘big why’, their property won’t sell.

5. Photos – more woe than wow

You only get one chance to make a big impression when selling a home so scrimp on your photos at your peril.

“In a crowded market, having fantastic photos is also very important,” Harding says.

“You want buyers to prioritise inspecting your property over others open at the same time, and overseas buyers also shop on the internet so great presentation equals great photos.”

Latest trend: Drone photography changing the face of real estate

 6. No web profile

If your property is not online today how can it find a market of buyers?

Advertising and marketing are musts when selling homes and the days of a classified advertisement in the weekend newspaper bringing the masses – while still an option – is unlikely to find its target on its own.

“The quality of the marketing of a property … is one of the six dynamics that influence a property selling or not, and for how much,” Hutton says.

This article was originally published on
17 Jul 2015 at 10:06am
but has been regularly updated to keep the information current.

The way the market’s tracking these days, renting’s no longer a temporary set-up for many Australians.

And while it offers lots of benefits, it also brings with it a fair few problems. First, there’s that voice at the back of your head telling you that your monthly rental payments aren’t building towards home ownership. And then there’s the looming threat of rental increases, evictions and maintenance disputes.

Which is why it’s important for renters to embrace minimalism – so that they’re able to move out with as little stress as possible, whenever life requires them to.

Here are five few reasons why renters should also be minimalists.

Minimalist design offers renters greater flexibility. Picture: realestate.com.au/rent

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1. Limiting possessions for ease of movement

One of the major drawbacks of being a long-term or permanent renter is constantly being at the mercy of landlords. That’s not to say you can be turfed out at short notice without good reason. In fact, there’s a fair bit of legislation on this matter. But things can change fairly quickly – and often when you least expect it.

Owning fewer possessions makes moving far less stressful – simply because it’s much easier to move a small stack of plates than an overflowing box of seldom used and mismatched crockery.

Cut back on unnecessary items sooner rather than later, as it’ll save a lot of time and stress on moving day.

Property transformations: 5 minimalist makeovers

2. Purchasing versatile furniture

It’s important for renters to avoid buying dwelling-specific furniture.

A giant, wicker swinging chair with a $4k price tag might look outstanding while hanging from the rafters of a warehouse conversion, but it probably won’t look half as good in the tiny, one-bedroom, inner-city flat you next move into.

Less is more when it comes to decorating your rental. Picture: realestate.com.au/rent

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There’s no way to predict the next place in which you’ll live, but it’s always best to avoid buying large and cumbersome furniture – especially because you might have to pay for the disposal of the item if you’re unable to sell or give it away.

So, think ‘simple’ and ‘versatile’ when you’re next shopping for furniture.

De-clutter: 12 tips to make moving day stress free

3. Practicing financial minimalism

Another form of minimalism with great benefits is general financial minimalism. There’s no point in signing a two year, non-refundable gym membership, if you’re on a month-to-month lease and may soon have to move away from the area.

Similarly, buying a car or bike to suit your new lifestyle might not be the best investment. Freedom is one of the most valuable benefits of renting, and one of the main reasons why some Australians choose never to buy a home. But the value of that benefit soon diminishes when you waste money on location-specific purchases.

Financial plans: Is it to revisit your household budget?

4. Harnessing a ‘make-do’ attitude

Just because there’s space for a stand mixer, food processor, blender, slow cooker and coffee machine on the current kitchen bench doesn’t mean there will be that much space on your next kitchen bench.

Multiple gadgets are luxuries, and it’s very easy to live without them. And lugging boxes of seldom-used equipment from house to house is also a massive waste of time and money.

Serviced apartments in hotels are designed for semi-long-term residency, and the most they will have in the kitchen is a kettle and toaster. To avoid overcrowding a tiny kitchen, stick to the essentials.

Drab to fab: 9 ways to spruce up a rental kitchen

Sometimes a stove, kettle and toaster is all you need. Picture: realestate.com.au/rent

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5. Ditching the storage trap

It’s a bad renting habit to drag the same ten boxes of stored items from one rental garage to the next, without ever opening them to use what’s inside.

If the items in the boxes haven’t been used, touched or thought about in years, there’s really no point in keeping them.

Old toys could be donated to child care centres. CDs and DVDs could be sold at markets. And excess blankets and bedding could be given to homeless shelters.

Freedom: De-clutter your home 

This article was originally published on
26 Sep 2019 at 9:00am
but has been regularly updated to keep the information current.

While thousands of Australians are madly saving deposits right now to buy their first piece of real estate, not everybody wants to own a home.

Almost 110,000 started mortgages between October 2014 and October 2015, according to the ABS. That’s more than 15% of all property purchasers in Australia today.

But the headlines often miss the point that not all tenants are desperate to climb the proverbial property ladder and plenty of Aussies rent by choice because they see benefits outweighing the perks.

Pro-renters say leasing their homes from someone else is, or was, better than putting their own names on title deeds, for a number of reasons.

1. You can live a cheaper, more footloose lifestyle

Ryan Ebert lives just 4km from Melbourne’s CBD.

“I choose to rent … for lifestyle reasons, cost savings and also the flexibility of not being tied down; these are all benefits of renting,” Ebert says.

Lifestyle, transport, culture: Rental hotspots for young professionals

2. Renting can make investing affordable

By far the biggest advantage, Ebert says, is the fact he’s been able to afford to buy two low-cost investment properties while renting, and avoid all the extra ongoing costs of home ownership.

I choose to rent for lifestyle reasons, cost savings and the flexibility of not being tied down.

Renting means you can simultaneously be a tenant and a landlord.

“The biggest one, by choosing to rent, has been getting two investments … by the age of 25 and without having to sink everything into a high mortgage and commit for the next 20 years to paying off one place,” he says.

Sylish makeovers: 10 tips for making your rental feel like home

3. Live in a fancier home than you can ever buy

Gold Coaster Vanessa* also rents by choice, admitting she accepts the reality she simply cannot afford to buy her own home.

“Yes I rent by choice. I’m a single female with no kids, only my pets, who also is self-employed,” she says.

Renting allows me to move according to my changing lifestyle.

“It’s near on impossible for me to save for a deposit let alone be granted a loan.

“So while my circumstances prevent me from buying… I’ve also decided that it is actually more beneficial for me to rent overall than to buy. Renting also allows me to move easily according to my changing lifestyle and financial circumstances.

“My rental home has four bedrooms and two bathrooms and is in Molendinar on the Gold Coast.

“I pay $500 per week including $400 electricity credit (and) it is pet friendly.”

Home characteristics: Pet friendly rentals still coveted

4. Renting makes it easier to move addresses

Lacey Filipich was a tenant for more than a decade because it better suits a changeable work life.

“I rented for 11 years on the basic premise that you can rent your lifestyle cheaper than you can own it,” says the Western Australia-based 30-something.

“It also made moving for work much easier. I’ve moved 18 times in 13 years. And I loved being able to delegate all responsibility for repairs to the agent. I still think renting is a fabulous way to go.”

Filipich and her husband recently bought their first family home because the couple knew they’d reside in one location for the medium-term.

“I consider buying a home to live in a luxury; it’s not something I’d recommend unless you’re financially stable,” she says.

I consider buying a home to live in a luxury.

“We did it because we want to stay in one spot for several years after all our moves and renting leaves you susceptible to being asked to leave if the owner wants to sell or move in.

“Also, we found a home going cheaper than usual in the area we love due to a deceased estate so although we’re still paying more than we would renting, it’s a good deal from our point of view.”

*Surname withheld for privacy reasons.

Contrary opinion: 5 reasons buying your own home trumps renting

This article was originally published on
31 Oct 2019 at 9:00am
but has been regularly updated to keep the information current.