There are experts who do not recommend buying apartments in the heart of the CBD as the area tends to be crowded and values do not always increase over time. However, if you know what to look for, a city center apartment can generate attractive returns opc wirkung over time, especially as demand for space in our capital cities increases. Here I have provided some key features to consider when deciding on a downtown investment property.
- Architect designed outdoor spaces
Apartments with architect-designed exteriors typically have a greater advantage over buildings with cheap embellishments and glass-dominated exteriors. Architect-designed buildings are also less common, which in turn can command higher rents and prices.
- Consider the sound rating
One of the biggest problems in the CBD can be the noise from the street or in the apartment building. To determine the apartment that does not have this problem, look for an apartment that has an AAAC5 or 6 star rating and double-glazed windows, as they can reduce noise. Also, check to see if there are any facilities near the residence that may cause disruption, such as nightclubs and restaurants. You don’t want to wake up you and your tenants in the middle of the night or at 4 a.m. because nightclubs and restaurants are partying.
- Choose one that has a view
Find a CBD that particularly believes this is one of the reasons renters want to live high above the CBD. More importantly, choose a view that brings plenty of natural light into your home. A property with good natural lighting and air circulation is in high demand.
- A unique floor plan
Many new CBD apartments tend to have similar floor plans. One way to stand out from your competitors is to find an apartment that is a little different from the rest. Think of an apartment that has a well thought-out floor plan and sufficient living space as well as a parking space or garage.
Don’t make your tenants feel like they live in a boring and ordinary environment. Find an apartment building that offers floor plans that are somehow different from the crowd as well as an apartment that can offer simple living.
Housing is always in high demand. Look for a unit with at least 60 square meters of indoor space, particularly 2 or 3 bedroom apartments.
- 4 years older
There are several new apartments that tend to decrease in value in the first few years after construction. Although there are many reasons for this, after construction this depreciation or depreciation usually stops around the 3rd to 4th year. That means you can most likely beat stamp duty by buying an apartment building that is 4 years or older.
- Determine threats to your view in advance
There are cases when new owners of an apartment building suddenly find out that buildings are being built that can block the amazing view of their apartment. To avoid this happening to you, search the local government website and research the area before buying a home.
Look for structures within the area that appear to be unused, uninhabited, or in need of repair, as these structures are most likely to be the target of developers. As new buildings are developed around your apartment structure, you may find that your view is blocked by these new high-rise buildings. Make sure you research all plans for the area and accept that most developments are out of your control.
- Hidden costs
There are apartment buildings with great services and facilities such as pools, concierge, gyms, etc. While these are attractive to new tenants, many of them are aware of the additional rental costs due to special features and services. As the owner of this building, you may need to increase rental costs due to utility and corporate fees. If you plan to add features and services, keep them opc wirkung to a minimum or make sure they don’t force you to significantly increase your rental costs. Many new apartment buildings have gyms, swimming pools and luxury living, but they can greatly increase owner corporate fees, especially as the building begins to age.