What to look for when choosing an investment apartment

So you’re looking to buy a new apartment, but whether it’s for an investment or to live in, it’s sometimes difficult to decide where to put your hard-earned money.

Whether or not an apartment will appreciate in value is never an exact science, but there are a number of aspects to look out for that can improve your chances. 

The interiors

This is an integral part of the criteria because, when all is said and done, the interior is the place that will be lived in for years to come. It’s tricky to decipher which design trends will be relevant in five to ten years time, but there are a few key things to look out for.

First of all, open-plan living is a timeless selling point as it allows the occupants the opportunity to furnish the space with their own design. It also gives a sense of space and togetherness that buyers crave. Try to couple this with an interior that provides plenty of natural light and cross ventilation to aid healthier living.

Similarly, quality materials and fixtures provide a classic design that will stand the test of time and multiple occupants. Look out for tapware and joinery as obvious elements that will become noticeable if they are easily damaged over time.

The Kitchen is the heart of any home, so try to make sure the space has been thoughtfully designed. Generously-sized kitchens with plenty of bench workspace and full pantries are major selling points to accommodate a variety of family units for years to come.

Try to seek developments that are boasting luxe materials like natural stone with a strong grain in the bathrooms, as these will age better than tiles and laminates. Couple this with projects that promise quality illumination and adequate storage under the vanity and you’re increasing your chances of a good investment.

Meanwhile, the bedroom should emanate a feeling of warmth, comfort and style. Also, look out for a fairly neutral design, because buyers will enjoy an area where they can implement their own styles. 

An outside space is an added bonus that, if you can acquire one, should make your property very popular with renters, and pay dividends in the future if you choose to sell. Ideally, you should look for one that is big enough for a table and a couple of chairs – our warm climate means the vast majority of buyers want to be able to dine outside.

Amenities

More and more, buyers are looking to extra perks beyond their four walls. New developments are increasingly responding to this trend with quality on-site amenities.

Resort-style amenity on your doorstep suits a vast range of buyers, which is one of the big reasons why a building with these qualities can represent a good investment. 

Downsizers, for example, don’t just want a low maintenance home, but one where they can relax, enjoy life and entertain friends and family. Meanwhile, young buyers and couples revel in homes where they can enjoy a ‘holiday’ retreat from work. 

So developments that have swimming pools, gyms and yoga facilities, community spaces and rooftop getaways will always prove a massive lure for all sorts of buyers.

Location

Before we touch on the locale, the placement of the apartment within the building is also important. 

Factor in the amount of light that enters the home at all times of the day, and whether you want it to receive morning or afternoon and evening sun. Try to avoid those with no outlook at all, along with units that have views of air conditioning condensers or a solid brick wall.

Unless a higher floor provides a better view, experts suggest an apartment on the fifth or sixth floor to be an ideal level. This is because most families and older residents prefer a residence that is more easily accessible, while younger people may well prefer a superior view, but won’t like the strong breeze they get when sitting on the balcony. 

Outside the front door, key surrounding amenities like parks, beaches or waterways, schools, work, public transport and cafés, restaurants and bars have always been and always will be key factors in property searches. 

Always conduct plenty of research around the area and whether there’s future investment planned for the suburb or precinct. Government investment generally means extra jobs or more transport links coming to the area which, in turn, increases demand for property. 

However, prospective apartment developments next door or nearby can ruin a view or create a general eye-sore. Also, while transport links are important, living too close to them can sometimes be detrimental as these locations can prove to be busier and noisier. 

This article is for general information only — we always recommend you seek professional financial advice before making any significant property purchase.

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