In the heart of the CBD, there are experts who do not recommend buying apartments because the region appears to be overcrowded and prices do not always increase with time. However, an inner city apartment can generate attractive returns over time if you know what to look for, particularly as space becomes more in demand in our capital cities. Here, when deciding on an inner city investment property, I presented some key features to look into.
- Exteriors designed by architect
Apartments built by architects tend to have a greater advantage over buildings with cheap adornments and exteriors dominated by glass. Buildings built by architects are often less popular, which can then command higher rents and prices in turn.
- Consider the ranking of the Sound
The noise from the street or inside the apartment building may be one of the main problems in the CBD. Find an apartment that has AAAC5 or 6 star ratings as well as double glazed windows to evaluate the apartment that does not have this problem as they can reduce the noise. Furthermore, see if there are facilities near the apartment complex that could cause damage, such as night clubs and restaurants. Since people are partying in night clubs and pubs, you don’t want yourself and your tenants to be awake in the middle of the night or 4 am in the morning. For more info, check out the post right here.
- Select one that has a view
In particular, find a CBD that has a perception that this is one of the reasons tenants choose to live far above the CBD. More importantly, select a view that provides your apartment with a lot of natural lighting. There is great demand for a property that has good natural lighting as well as airflow.
- A Special Plan for the Floor
A number of new CBD apartments appear to have floor plans that are identical. An incentive for the rivals to stand out is to find an apartment that is a little different from the rest. Find an apartment with a well-designed floor plan and ample living space, as well as a parking space or garage for cars.
Do not make your tenants feel like they live in an atmosphere that is dull and ordinary. Find an apartment building that provides floor plans that are somehow different from the package that can provide comfortable living as well as an apartment.
- Spacious The Spacious
There is still great demand for a livable space. Look for a unit that has at least 60 square metres of internal space , especially apartments with 2 or 3 bedrooms.
- Older 4 Years
There are some new apartments that have prices that appear to decline after construction in only the first few years. This drop or post construction drop in values typically stops around year 3 to 4, although there are several explanations for this. Meaning, by purchasing an apartment building that is 4 years old or more, you will most definitely beat the stamp duty.
- Determining risks to your view in advance
There are times where new owners of an apartment building unexpectedly realise that there are buildings that are going to be installed that can obstruct the incredible view of their apartment. To prevent this from happening to you, browse the website of the local council and look around the entire region before purchasing an apartment building.