As Australia’s population rises and property prices grow, the Australian dream of owning a house has shifted to apartments.
The key to your new apartment having a good chance of capital growth comes down to identifying properties with potential. The following three factors are always desired by investors and tenants and should leave you in good stead to achieve your investment goals:
- Location, Location Location
When it came to houses, the old mantra used to be location, location, location. With apartments the same can be said – investors should seek units within close to amenities. These include public transport, retail and dining precincts as well as education facilities.
- Functional Floor Plan
Regardless of whether you’re looking to tenant your property out or looking to be a live-in resident, finding a home with a flowing floor plan is crucial. A difficult to navigate property will hinder the prospects of renting the property and selling it in future. So unless you’re willing to spend big bucks renovating a functional floor plan is important.
People want a lifestyle that’s comfortable and convenient. As an active lifestyle becomes popular with the current generation, facilities such as residential access to a gymnasium, swimming pool, barbecue areas, vegetable garden patches and car parks for both residents and visitors are extremely desirable.