FIVE TOP TIPS FOR BUYING AN APARTMENT
Apartment living is becoming increasingly popular with people seeking low-maintenance lifestyles with access to outstanding facilities and everything they need at their doorstep.
When you are considering purchasing an apartment, however, you should also be thinking about how well it will appeal to other buyers in 5 to 10 years’ time – by which time you may well be contemplating another move.
Looking at your apartment through the eyes of a future buyer, or tenant, is one of the keys to benefitting from strong capital growth and returns on your investment.
R&F Property Australia’s National Sales and Marketing Director Jon Quayle provides his top five tips for apartment buyers:
Location: It’s the old adage but it’s still as relevant as ever. Easy access to employment hubs, future infrastructure, schools, health services, entertainment and lifestyle precincts, sports and recreational facilities as well good public transport links are strong indicators of how valuable your home will be in the future.
The right spot can make all the difference. Often it can also come down to being on the right road, in a progressive suburb and some standalone features that offer a point of difference – such as a great view.
A breathtaking outlook is one of the hallmarks of R&F Property Australia’s Live City development, with a Level 12 Skydeck maximising the wonderful vantage point over the CBD, Flemington Racecourse, Docklands and Port Phillip Bay.
Live City is also conveniently located close to the site of the new $1.5 billion Footscray Hospital, which will position the suburb as a vibrant health precinct when it opens in 2025.
And when it comes to outstanding education options, Victoria University’s Footscray Park campus, with its world-class sports science facilities among its many attributes, is nearby at the corner of Geelong and Ballarat Roads.
Design: Apartment living shouldn’t mean contracted living. Look for full-size kitchens, cupboard room and clever use of space for storage.
The kitchen is still the hub of many homes and ample bench space and room for full-size appliances make life easier.
Layout: Consider the size of the bedrooms, their separation from the living spaces, and the functionality of the floor plan.
Integrated outdoor spaces can make a living area seem much more expansive. The key here is floor-to-ceiling windows with a view that offers a connection to the surroundings.
Amenity: These days brand new apartment living means having access to a wide array of exclusive recreational features, which might include rooftop gardens, pools, spas, gyms, kids play areas, resident lounges and dining rooms, and fabulous inner-city views.
Easy access to high-quality, shared facilities helps to build connections among residents and a sense of community spirit, in addition to being features which may help attract and retain a future tenant or buyer.
Live City will ultimately feature eight residential and mixed-use buildings, cafes, restaurants, a supermarket, gym, childcare and laneways.
Its landmark stage one tower features 208 apartments along with an exclusive resident bar and lounge, and rooftop garden..
The ground floor of the building features more than 500 square metres of retail space with tenants expected to include a cafe and convenience store.
The Developer: Finally, before you sign a sales contract, take the time to research the developer and their track record. What is their history, not only locally but in other markets? Take note of other projects they have delivered and who their development partners are, such as the profile of the architect and builder.
R&F Property Australia is part of R&F Properties, a highly respected global property development group. Established in 1994, the group has completed more than 420 projects in 140 locations worldwide.
To find out more, book an inspection or take your own virtual tour of our apartments for sale in Live City, click here.