An apartment is a great option if you want a low maintenance lifestyle, improved security or want to be able to afford to live in an area that would otherwise be out of your budget.
Here are our eight key tips for choosing an apartment:
Know the Building
When we meet apartment buyers we think about the type of building they will want to purchase based on their needs. So often this allows us to narrow a buyers search within the first 15mins of a discussion. Is the apartment block owned by owner-occupiers, or what proportion of the building is rented? If you’re looking to rent the property out, this is probably not such a big deal, but if you want to live in it, it can be helpful to understand what proportion of the population is likely to be regularly coming and going and what the community is going to be like.
Think about the space and functionality of the floor plans. Size does play a role but don’t be fooled by large apartments with wasted space that you simply can’t use.
A Great Location
Apartment buying is all about location. A location where you want to call home or a location where you know your apartment will rent effortlessly. The individual communities across the Sunshine Coast will provide you with a diverse range of options for which to purchase an apartment. Investing? Apartments that are close to the inner city, transport, and facilities like hospitals, shopping and schools will be easier to rent. Living in? Buy where you want to live with a unique feature like water views, close proximity to the beach, river or other conveniences.
Whether it’s a balcony or a terrace, an outside space is a huge plus in an apartment. Even if it’s only big enough for two chairs and a table, it can make a huge difference to the amenity.
Units that run front through to the back of a block or are on a corner are always more highly sought after to central ones with only one aspect because they will invariably have better natural light.
Which way does your apartment face and what kind of light will it receive? Units on the dark, southern side can feel gloomy all year round, while units that face the west can receive blazing afternoon summer sun which can be an issue in summer if there’s no air conditioning. Ideally, try to buy an apartment that enjoys a northerly aspect.
How High Should You Go?
Many people feel uncomfortable living above the sixth floor but higher floors usually offer the best views and an escape from traffic and noise on the ground. Be aware that going higher can make balconies feel windswept and it can start to take a long time to get down to the ground in the lifts.
Understand the Body Corporate Fees
All apartments come with body corporate fees. These cover the cost of building repairs and maintenance, including insurance and all external maintenance. These are easy to budget for compared to other forms of property ownership but make sure there is a suitable sinking fund to cover future issues. The more amenities your apartment block has, the higher the costs are likely to be.
If you need any assistance in choosing the right apartment for you, please don’t hesitate to contact our friendly sales team.