By Brett White, Licensee – RE/MAX Extreme
As the end of the financial year rolls around, it’s a great reminder to pause and take a good look at how your property is tracking — not just in terms of value, but also the costs of running it.
We know EOFY isn’t exactly exciting, but it’s the perfect time to tidy up your numbers and see where you might be able to save a bit of money or make some smarter decisions heading into the new financial year.
Here are a few things worth checking:
1. Review Your Property-Related Costs (You Might Save More Than You Think)
Start with a quick check of what it’s costing you to own your home or investment. A lot can change over 12 months, and sometimes we just stick with the same providers out of habit. Things to look at:
- Interest rates on your home loan — could you refinance at a better rate?
- Insurance — premiums have risen in many areas, but not all providers have adjusted equally
- Utilities and services — are you getting the best deal on electricity, gas, water or internet?
- Subscriptions – now are you really using all those different TV or App subscription services, or is it time to let some go?
Even small changes across a few areas can make a big difference over a year.
2. Look at Maintenance Before It Becomes Costly
End of financial year also means we’re heading into the colder months, so it’s a smart time to check:
- Are there leaks, blocked gutters, or roof issues that need fixing before winter sets in?
- Could you prevent future issues by doing small jobs now (like resealing windows or trimming trees)?
- Is it time for a fresh coat of paint or an update to your outdoor areas before spring?
Good maintenance not only protects your home’s value — it helps you avoid emergency repairs that cost more down the track.
3. Understand the Current Value of Your Property
While you might not be thinking of selling anytime soon, it’s still helpful to know where you stand.
Over the past 12 months, we’ve seen strong growth across many northern suburbs — in some cases, well into the double digits. If you haven’t checked in on your home’s value recently, this could be a good opportunity to see how the market has changed and how much equity you’ve built up.
That could help with:
- Making informed decisions about refinancing
- Exploring investment opportunities
- Planning for a possible move later in the year
If you’d like a quick update on what your home might be worth — no pressure and no obligations — we’re always happy to help with that too.
4. For Investors: Make Sure You’re Claiming Everything You Can
If you own an investment property, EOFY is a critical time to make sure you’ve got your paperwork sorted — and that you’re not leaving deductions on the table. Double-check:
- Interest on your investment loan
- Depreciation schedules (you may need a quantity surveyor report)
- Maintenance, repairs, council rates and water charges
- Land tax — and whether the ownership structure could be optimised
If you’re not sure where to start, your accountant can help you get a clearer picture, but having all your property records up to date makes things much easier.
5. For Self Managed Super Funds: Now’s the Time to Review Any Asset Values
If you have a property held in a Self-Managed Super Fund (SMSF), the end of financial year is the ideal time to make sure your records are up to date. SMSF trustees are generally required to report assets at their current market value when preparing annual financial statements — and that includes any residential or commercial properties the fund owns.
Getting an updated appraisal can help ensure you are compliant, especially if it’s been more than 12 months since your last valuation or there have been market changes.
If you’re not sure where to start, the Brett White Team can help by providing an up-to-date market appraisal — with no pressure and no cost. It’s a simple step that can give you peace of mind and help you stay on top of your SMSF responsibilities.
6. Use This Time to Plan Ahead
EOFY doesn’t just signal the end of one chapter — it’s also a good launchpad into the next one. Whether you’re thinking of:
- Renovating
- Upsizing or downsizing
- Buying an investment
- Preparing to sell later in the year
…it helps to go into the new financial year with a clear plan.
We’re always happy to have a conversation — no strings attached — to talk through what’s happening locally, how your suburb is tracking, and what opportunities might be worth considering next.
From our team to yours, we hope your EOFY is smooth sailing.
And if we can help with any advice about the market or your property, don’t hesitate to reach out to Brett, Kathy, or Cristina from the Brett White Team. We’re local, we’re here, and we’re always happy to chat.
