There are experts who don’t recommend purchasing apartments in the center of the CBD as the location tends to be overcrowded and the values do not always rise over time. However, if guess what happens to find, an internal city apartment can produce attractive returns as time passes especially as space becomes more in demand within our capital cities. In here, I provided some key features to check into when selecting an internal city investment property.
1. Architect Designed Exteriors
Apartments that have architect-designed exteriors tend to have a bigger advantage over buildings with cheap adornments and glass dominant exteriors. Architect-designed buildings are also less common which can command higher rents and prices.
2. Consider The Sound Rating
One of the biggest issues surviving in the CBD could be the noise from the road or within the apartment building. To ascertain the apartment that do cbd gummies not need this dilemma, find an apartment that has AAAC5 or 6 star rating along with double glazed windows as they are able to reduce steadily the noise. In additional, see if you can find establishments close to the apartment building that can potentially cause disturbance such as night clubs and restaurants. You may not want yourself and your tenants to be awaken in the center of the night time or 4 am in the morning due to people partying in night clubs and restaurants.
3. Choose One That Has A View
Look for a CBD that has a view especially that this is one of the reasons why tenants want to live high above the CBD. Most importantly, choose a view that brings in plenty of natural lighting into your apartment. A property that has good natural lighting along with airflow is highly in demand.
4. A Unique Floor Plan
Plenty of new CBD apartments tend to have similar floor plans. A chance to stick out to your competitors is to get an apartment that’s only a little different from the rest. Consider an apartment that has a well orchestrated floor plan and adequate living space along with an automobile parking space or garage.
Do not let your tenants feel they are surviving in a boring and common environment. Find an apartment building that gives floor plans that are somehow different from the pack along with an apartment the can offer easy living.
A livable space is always in great demand. Look for a unit that has an internal space of at least 60 square metres, particularly 2 or 3 bedroom apartments.
6. 4 Years Older
There are many new apartments that have values that tend to fall in just the very first couple of years after construction. While there are many reasons for this, this drop or post construction drop in values usually stops around year 3 to 4. Meaning, you can almost certainly beat the stamp duty by buying an apartment building that’s 4 years old or more.
7. Determine In Advance Threats To Your View
There are cases when new owners of an apartment building suddenly discover there are structures that are going to be constructed that can block their apartment’s amazing view. To avoid this from happening to you, search local council’s website and browse around the particular area before buying an apartment building.
Within the location, search for structures that appear not in used, unoccupied or in need of repair because these structures are most likely to be target of developers. Once new buildings around your apartment structure are developed, you may find your views blocked by these new high-rise buildings. Be sure to research on any plans for the location and accept that most developments are away from control.
8. Hidden costs
There are apartment buildings that have great services and facilities such as pools, concierge, gyms, etc. Although, these are appealing to new tenants, many are alert to the excess cost of rent due to special features and services. As an owner with this building, you will need to boost the expense of rent due to operational and corporation fees. If you intend to add features and services, keep them at least or make sure they won’t force you to add a great deal on your own rental cost. Many new apartment buildings have gyms, swimming pool and provide luxury living but they are able to add heavily for owner’s corporation fees especially because the building begins to age.