8 tips for buying the best apartment in the block

Apartment living sounds so good: no grass to mow, a pool you don’t have to clean, no costly home maintenance, lock up and leave. As Sydney becomes a “grown up” city, we are seeing a greater acceptance of apartment living but not all units are created equal. It would be fantastic if you could go straight to the top and buy the penthouse, but what if your budget is not so lofty? We advise our clients to be very wary when looking at large complexes. There are often numerous apartments for sale at any one time, which may offer you choice when you are buying, but can be a problem when you go to sell. So, if the location, facilities and overall style of the complex appeals to you, how can you ensure you buy the best apartment?

Here is a checklist:

  • Natural light – the higher up in the building you are, generally the better natural light, however, be careful of the wind factor;
  • Aspect – ideally look for a north, northeast or northwest aspect from the living areas;
  • Privacy and outlook – give preference to apartments that look outside the complex (depending on the outlook of course, or unless there are fabulous landscaped gardens) rather than into other apartments;
  • The proportion of rooms – sometimes the bedrooms are larger than the living area, or the ensuite is larger than the main bathroom, or there is wasted space in foyers and hallways;
  • Outdoor space – this should be usable (is there space for a table, chairs, bbq?) and accessible from the living area;
  • Noise – avoid apartments next to the entrance, opposite the lift, overlooking a noisy road, etc;
  • Be extremely cautious if buying new or off the plan – we generally look at older style apartments which have had all their issues ironed out over time;
  • Strata fees – make sure you’re buying into a building that has been well maintained and that there are no nasty special levies on the horizon.

 

 

Published:-  16 May 2016

DISCLAIMER: Good Deeds buyers tips are intended to be of a general nature. Please contact us for advice that is specific to your individual circumstances. You may also need to get advice from other professionals such as an accountant, mortgage broker, financial planner or solicitor.

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