Metrocity Realty

Investing? Some Suggested Approaches

Choose Something With a Distinctive Feature

A single block may contain hundreds of units, so there could always be several in your block on the market at one time.

Keep the next potential buyer in mind as you look at it, and see if the unit you choose has that special advantage not enjoyed by other units simultaneously being offered for sale in your block.

Think of a better view, a more accessible car-space/garage, a more attractive courtyard, greater privacy (e.g. fewer common walls), being located on the sunny/shady side of the building, or some pleasing architectural detail.

Choose a Good Location
Your unit may be high-rise, but your prospective tenants must still navigate through the street, the neighbourhood and the suburb to come and go. If the general amenity of the surroundings is pleasant, then you have more choice of potential tenants or purchasers. Do whatever research you can, before you buy.

Choose Excellence
Apartments that show high-quality construction, finishes and fittings are more desirable than the more basic ones. This is because such high quality equates with "less maintenance".

Choose Outlook
The panoramic vista is the one thing that a house (usually) can't offer that an apartment can. If you're thinking of capital gain, a great view obviously adds value to your investment apartment. But wait: there's more!

Although you won't be selling this property for several years, during this time you'll need several tenants. A good, open outlook will attract tenants by making your apartment feel larger, lighter, less closed-in. They'll love standing on your balcony and gazing at ... the water, bushland, parklands, city lights, whatever is out there. (A brick view is a real downer!)

Choose Low Continuing Costs
High on-going costs eat up good rent. Such costs result from "frills" like a gymnasium, pool, sauna, spa, lifts and extensive landscaping. Commercial tenants on the ground floor have been known to persuade body corporates to spend money on issues that mainly concern them, e.g. frequent cleaning of common areas.

Choose a Reputable Developer
It takes a stout-hearted developer to build a high-rise development in a capital city. Sometimes this tough attitude can result in a poorer-quality project with minimal standards of construction. But other developers go on to acquire an enviable reputation for high-quality work.

Talk to several estate agents. Local competing agents will readily tell you about problems with particular apartment blocks.

Choose a Second Bathroom, if Possible
Not everyone who shares accommodation is in a relationship.
If each bedroom in your investment apartment has its own bathroom, it's more attractive to a wider range of tenants. To some people, sharing a bathroom is second only to sharing a toothbrush.

Choose Secure, Off-Street Parking
Your tenant's most valuable possession is likely to be their car. They'll want to protect it.