Warning: Don’t renovate before selling

first_imgMan renovating his property. Picture: Matt ThompsonTHE demand for fixer-uppers in Brisbane is so strong, property experts are warning homeowners about the risk of renovating before they list.SQM Research managing director Louis Christopher said too often people splash too much cash jazzing up their homes for a big sale.“In a downturn, buyers will not value the renovations as much as the homeowner,” Mr Christopher said.“We know the market will penalise over-capitalisation.”Andrew Winter and Neale Whitaker. Picture: Mike BatterhamStar of Foxtel’s new show Love It or List It and design guru Neale Whitaker agrees, adding the decision to sell or renovate a property demanded thought and research.“Be careful about overcapitalising,” Whitaker said.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:45Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:45 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenLove It Or List It Australia00:45“Have a look at similar properties that are unrenovated like yours in your area and see what they’re going for – and the type yours would be like after a renovation and what they’re going for.“(Then) work out whether it’s worth doing because, let’s face it, even the most basic renovation is costly.Even the most basic renovations are costly.“But if you are torn, look at the potential resale value of the house as opposed to the property you would be thinking of buying and whether that’s a realistic transaction – and also the value that could be potentially added to your home.”Whitaker said the majority of homeowners who decide to stay and renovate want to create more space.“If they’ve been living somewhere for a long time, they stop realising the potential under their nose but with careful planning they can create the space they need,” he said.“On the show we came across rooms that were completely redundant – one room was completely occupied by a cat – people get used to living a certain way.”Renovations are booming in Brisbane’s inner-ring including Albion, Alderley and the CBD, with building renovations and carpentry the most popular, according to Australia’s largest network of trades professionals, hipages.com.au.The data also showed bathroom and kitchen upgrades were a high priority with homeowners.More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour agoIn the midst of this statewide renovation activity, Brisbane’s property market has slowed in terms of price growth in the last 12 months, outperformed by the stronger Sunshine Coast and Gold Coast property markets.Nerida Conisbee.REA Group chief economist Nerida Conisbee said interstate and offshore buyers were keen on sea change.Data from realestate.com.au shows in the last six months, the most searched suburbs in the sunshine state were located by the water.Surfers Paradise topped the list with more than 213,290 views followed by Buderim (184,640) and Southport (184, 040).“Beaches and jobs are drawcards to those suburbs,” she said.“The lifestyle of these places are attracting people from Brisbane, Sydney, Melbourne and offshore.”Mr Christopher said homeowners could renovate their property on a budget, sell it and upgrade to a better property for themselves.“There are more buyers and freestanding houses in the marketplace,” he said.“I don’t think we are in a market that is going to value one’s renovations all too well.”Mr Christopher said Brisbane’s property market had improved however added “the pendulum is in the middle”.“We are seeing more interstate migrations to Brisbane because of the price difference,” he said.Love It Or List co-host Andrew Winter advised buyers to have realistic expectations when selling their property.“Don’t expect to sell easily,” Winter said. “Never believe that your house will sell for more than market value, it can happen but generally it won’t.”He said to avoid seller’s remorse it was important to hang on to your property if your financial situation allowed.“Keep house number one when you buy number two, however that is not always possible.”Love It Or List It Australia airs on Foxtel Lifestyle on Wednesday, September 27, at 8.30pm AEST.last_img read more

Scorpions, Pride clash ends in dull draw

first_imgKINGSTON, Jamaica (CMC) – There were precious few sparks on a drama-less final day as the third round game between Jamaica Scorpions and Barbados Pride ended in a dull draw at Sabina Park here yesterday.Resuming the day on 153 for four, Pride failed to muster anything spectacular enough to turn the tide and were dismissed for 273 nearly an hour after lunch.Wicketkeeper Mario Rampersaud struck 36 and captain Kevin Stoute, 31, while Justin Greaves finished on 22 not out.Debutant left-arm spinner Fabian Allen claimed three for 34 while fast bowler Reynard Leveridge (2-28), captain and left-arm spinner Nikita Miller (2-65) and leg-spinner Damion Jacobs (2-69) all picked up two wickets each.Trailing by 49 on first innings, Scorpions confidently reached the close on 112 for two, with opener John Campbell missing out on his second half-century of the game with 49 and opening partner Shacaya Thomas getting 43.Test left-arm spinner claimed two for 29.Pride walked away from the rain-ravaged outing with nine points while the hosts picked up 7.6.The visitors made a safe start to the day as Stoute and Rampersaud stretched their overnight fifth-wicket stand to 67.Left-hander Rampersaud was ultra-patient in a knock requiring 133 deliveries and 144 minutes while Stoute, a right-hander, struck two fours and two sixes off 87 balls.Once the partnership was broken, Pride lost their last six wickets for 53 runs, after going to lunch at 237 for seven.Faced with a tricky period before tea, Scorpions’ fears were eased by Campbell and Thomas who put on 92 for the first wicket.The left-handed Campbell, unbeaten on 45 at the interval with Scorpions on 81, faced 66 balls and struck nine fours while Thomas hit six fours in a 60-ball knock.SCORPIONS 1st innings 224PRIDE 1st innings (o/n 153 for four)O. Phillips c Campbell b Green 4A. Alleyne b Allen 66S. Brooks b Jacobs 44R. Chase lbw b Miller 23K. Stoute c Leveridge b Miller 31M. Rampersaud c Campbell b Leveridge 36K. Williams b Allen 2J. Greaves not out 22K. Roach c wkp. Thomas b Leveridge 0J. Warrican lbw b Jacobs 19N. Charles c Thomas b Allen 2Extras: (b-10, lb-11, w-3) 24Total: (all out, 103.5 overs) 273Fall of wickets: 1-5, 2-116, 3-153, 4-153, 5-220, 6-233, 7-236, 8-238, 9-268.Bowling: Leveridge 11-2-28-2, Green 14-4-32-1, Blackwood 1-0-1-0, Jacobs 22-3-68-2, Miller 35-11-65-2, Allen 12.5-2-34-3, McCarthy 5-1-10-0, Campbell 3-0-14-0.SCORPIONS 2nd inningsJ. Campbell c Stoute b Warrican 49S. Thomas lbw b Warrican 43J. Blackwood not out 13D. Thomas not out 4Extras: (lb-2, nb-1) 3Total: (2 wkts, 33 overs) 112Fall of wickets: 1-92, 2-101.Bowling: Roach 4-0-32-0, Greaves 3-0-19-0, Warrican 13-3-29-2, Charles 13-1-30-0.Points: Pride 9, Scorpions 7.6.last_img read more

NPFL: Appeal Court Takes over Giwa Reinstatement Case

first_imgThe legal battle seeking to compel the League Management Company (LMC) to reinstate Giwa FC into the 2015/16 Nigeria Professional Football League (NPFL) has shifted to the Court of Appeal, Jos Division which two days ago enrolled the suit.LMC’s appeal is against the interim order granted by Justice I.I. Kunda of the Plateau State High Court, Bukuru on August 12, in a case filed by Mustapha Abubakar seeking to reinstate Giwa FC into the NPFL and also reschedule all the games the club was excluded from playing following its expulsion in May. Abubakar claims to be the Chairman of Giwa FC Supporters Club and that his fundamental human rights has been violated.Giwa FC was expelled by the LMC from the NPLF in May for failure to honour and play three matches cumulatively contrary to the provisions of the NPFL 2015/16 Framework and Rules and punishable by expulsion from the League. LMC had reached the decision after a protracted process of appeals and hearings as provided for by the rules of the football governing authorities The LMC through its lawyer, Olumide Olujinmi is asking the Court of Appeal to grant a stay of execution of the lower court’s order and an application for departure from the rules of court to allow for the appeal to be heard as a matter of urgency.In one of its grounds of appeal, the LMC argued that Abubakar has not been shown to have any connection or relationship whatsoever with the LMC or the NPFL and that there was no urgency as required by law for the judge to make the interim order which is nearly three months after the expulsion of Giwa FC from the NPFL on May 22. At the resumed hearing last Thursday, Justice Kunda had sought to know if the LMC had complied with the interim order of August 12 and Olujimi in response referred to an affidavit of compliance filed by the LMC as proof of compliance. Olujimi also told the court that he has filed for a stay of proceedings at the Appeals Court.However, Barrister H.S Ardzard, the Counsel for Abubakar disagreed, claiming that there has not been full compliance since according to him, the LMC was yet to reschedule the matches involving Giwa FC. He then pleaded with the judge to give an order stopping the league until there is full compliance.The LMC however said there was no basis for stopping the league which is an industry representing the multifarious interests of 19 other clubs from states all over Nigeria with players on contract as employees, officials and other employees of the clubs, broadcast right holders, corporate sponsors and the public interest and national and international image of Nigeria.The LMC continued that rescheduling of matches cannot be done at a whim and explained that it involves several considerations and processes that will take some time.It was also the submission of the LMC that Giwa FC’s interest cannot supersede other interests and urged the plaintiff’s Counsel to seek other judicial remedies to enforce compliance with the court order if he was sure there had been none.The LMC contends that the suit before the Plateau State High Court is defective since as a fundamental human right case, Giwa FC or its owner Giwa FC Ltd is a company which cannot have fundamental human rights.The League body had also challenged the jurisdiction of the Jos High Court to grant the interim order, contending that Abubakar lacked the locus standi to file the suit on behalf of Giwa FC Ltd, since the only person that can complain about any wrong done to a company is the company itself.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more