What to look for in a CBD investment

 

Experts do not recommend buying apartments in the CBD because they are overcrowded and their values don't always rise. If you are aware of what to look out for, inner-city apartments can yield attractive returns over time, especially since space is becoming scarcer in capital cities. Here are some important features to consider when choosing an inner-city investment property.

 

Exterior Design by Architect

Apartments with architect-designed exteriors have a greater advantage than buildings that are adorned with glass dominant exteriors and have cheap decorations. Also, architect designed buildings are less common and can command higher rents or prices.

 

Take into account The Sound Rating

The noise coming from the building or street can pose a problem for CBD residents. You can find apartments that have AAAC5 or six-star ratings, double-glazed windows, and noise reduction. Also, check if there are any establishments nearby that could cause disturbances such as nightclubs and restaurants. You don't want your tenants to wake up in the middle or early hours of the morning because people are partying at nightclubs and restaurants.

 

Select One with A View

A CBD with a view is a must, especially as this is why many tenants choose to live higher than the CBD. You should also choose a view that allows for lots of natural light into your apartment. High demand is placed on properties that have good natural lighting and airflow.

 

A Unique Floor Plan

Many new Gaia's Choice CBD apartments have the same floor plans. You can stand out from your competition by choosing an apartment that is different from others. You should consider an apartment with a well-planned floor plan, adequate living space, and a garage or car parking space. Your tenants should not feel like they live in the same environment as everyone else. Look for an apartment building with floor plans that are different from others and that can provide easy living.

 

Spacious

Living space is in high demand. A unit should have at least 60 square meters of internal space, especially if it is a 2 or 3-bedroom apartment.

 

4 years or older

Many new apartments have values that fall within the first few years of construction. There are many reasons this happens, but the drop in value or post-construction drop usually stops around years 3-4. You can avoid stamp duty by purchasing an apartment building older than 4 years.

 

You can identify in advance threats to your view

Sometimes, new owners of apartment buildings discover that structures are being built that block their amazing view. Before buying an apartment building, make sure you search the website of your local council and take a look at the area. Look for structures in the vicinity that are not currently in use, unoccupied, or in dire need of repair. These structures are more likely to be targeted by developers. You may have your view blocked by new high-rises once new buildings are built around your apartment building. You can't control the future of your area so make sure you do your research.

 

Hidden costs

Apartment buildings can offer great amenities such as concierge services, pools, and gyms. These facilities are appealing to potential tenants. However, they can also increase the rent cost due to additional features and services. You may have to raise the rent cost for your building as a result of operating and corporate fees. You should limit the amount of services and features you add to your rental price. Although many new apartments have a swimming pool, gym and other amenities, they can increase the cost of ownership fees as the building ages.