Unlocking the combination
THE subject of “mixing it up” in the wonderful world of Aussie real estate is a topic I’ve written about many times.
It seems, however, that yet another year has gone by where I’ve had zero impact in my pursuit to rectify a major flaw for the buying and selling public when it comes to property in that hard-to-define “mixed” category.
Now I may have possibly confused some of you as you try to imagine what a mixed property could be.
To clarify, it’s not a home where tastefully styled rooms are mixed with rooms reminiscent of an episode of US TV show
Nor is it a way of describing a cool contemporary home blended with its true Federation history.
They are properties mainly where the actual usage is mixed between living and working.
This could be a retail space with accommodation above. It could be a home on acreage with a large separate outbuilding used for commercial storage/light industrial purposes.
It could be a conventional dwelling that has some form of self-contained separate living accommodation, from studio style to family space.
It could even be a country home with stabling and equestrian facilities.
Maybe a home with a separate office space.
Among this vast array of property types there is a common thread and that’s that the property as a whole offers not only a place to live, no matter how large or small, but also an area totally separate that can be used for commercial purpose.
This could generate income for the resident, or perhaps both spaces could be let independently.
The fundamental point is these are very particular property types that right now have absolutely zero true classification.
What are they? How do you market them? If you want one, where do you look?
Even our dear friends at the major banks and other lenders get a little scared of the great unknown “mixed” property, an element I find quite confusing as the purpose with any of these properties is usually quite clearly defined, just not categorised.
In the corporate world, where there isn’t a box to tick there lies the problem.
Mixed properties need a box to tick so please help me on my crusade to create this box before another year goes by.
Over the years I’ve had many frustrated homeowners desperate to know how to market their mixed property effectively.
I’ve also had buyers who would relish the opportunity to secure a property with genuine flexibility to suit their lifestyle or investment requirements.
But right now, where do you start as a buyer or a seller?
The creation of my new category could literally be known simply as “Mixed”, so alongside residential and commercial categories, sellers, buyers and lenders would all know where to go for those properties with multiple use/live work space/ home with separate income. This is not rocket science nor a costly implementation, so come on property research engines — be the first!
Newspaper property editors and of course Australia’s largest online real estate portal, realestate.com.au, please grant me my wish and enhance the property market we all love and embrace — let’s MIX it all up. I’m currently involved with a new exciting scheme of 10 properties and, yes, they are mixed, so I’m not letting 2016 go by without some action.
Andrew Winter hosts
on the Lifestyle channel