Friday 3 December 2010

Selling a Property

Owners spend a lot of money to make their properties look better before selling them. They want to get the best price they can and make some profit. They know that some buyers are fussy  and complain about many things such as the colour of the walls, the size of the rooms, the stains in the carpet, the condition of the garden and so on.

Owners do their best to convince the new buyer that the house is worth every dollar. They sometimes hire furniture to make their property look nicer.

Nowadays owning a property is a big decision. Prices are skyrocketing (going up very high very fast) and that's why many people choose to live far away from the CBD. They can't afford to buy a house or a unit near the CBD because prices are very high. If you live near the CBD, you enjoy many services like better transport, a shorter distance to work and many other things. Some people go to live in the country far away from Melbourne because this is all they can afford.

Banks make a lot of money by increasing interest rates every now and then. If you don't have a good deposit to pay to a bank, the bank will make you pay more money by asking you to pay mortgage insurance. This means you have to pay a few thousand dollars more than people who pay a good deposit.

Houses nowadays have smaller sizes than twenty or thirty years ago. Some people think buying their first home will never happen in the future. Real estate agents try to push prices beyond the limit of everyone because they will get a better commission after selling the property. At the same time, many people believe that the more they wait for prices to come down, the higher they become.

Many young people choose to live with their parents because they feel that there is no hope of saving up money for a deposit. They feel that only the rich can afford to buy properties. People on low incomes find it very difficult to pay their rent. Of course they can't save enough money to start thinking about buying their first home.

A lot of young men and women think it is better to have a nice car or buy expensive clothes and not try to save money for a house. They sometimes go overseas to visit different countries and have fun there.

Some of them wait for their parents to help them to pay a deposit for a new house or a unit. They feel that they can't afford to do so alone.

Answer These Questions:
  1. Why do some people go to live in the country?
  2. How do banks punish people who don't have enough money to pay a deposit?
  3. Why do some young people choose to live with their parents?
  4. Is it cheaper to buy a property near the CBD?
  5. What things other than a house do some young men and women buy?
  6. Why do some young men and women wait for their parents to help them with buying a property?
  7. Why do owners spend a lot of money on properties before selling them?
  8. Why do real estate agents push prices very high?
  9. Can rich people afford to buy properties?
  10. Why do some property owners hire furniture before selling their houses?
  11. What do you need to pay the bank before you buy a property? 
  12. What punishment do banks give to customers who can't afford to pay a big deposit for their loans?