There are experts who do not recommend purchasing apartments in the heart of the CBD as the area tends to be overcrowded and the values do not always rise over time. However, if you know what to look for, an inner city apartment can produce attractive returns over time especially as space becomes more in demand in our capital cities. In here, I provided some key features to look into when deciding on an inner city investment property.
1. Architect Designed Exteriors
Apartments that have architect designed exteriors tend to have a larger advantage over buildings with cheap adornments and glass dominant exteriors. Architect designed buildings are also less common which in turn can command higher rents and prices.
2. Consider The Sound Rating
One of the biggest issues living in the CBD can be the noise from the street or within the apartment building. To determine the apartment that do not have this issue, find an apartment that has AAAC5 or 6 star rating as well as double glazed windows as they can reduce the noise. In additional, see if there are establishments near the apartment building that can potentially cause disturbance such as night clubs and restaurants. You do not want yourself and your tenants to be awaken in the middle of the night or 4 am in the morning due to people partying in night clubs and restaurants.
3. Choose One That Has A View best kratom colorado
Find a CBD that has a view especially that this is one of the reasons why tenants want to live high above the CBD. More importantly, choose a view that brings in a lot of natural lighting into your apartment. A property that has good natural lighting as well as airflow is highly in demand.
4. A Unique Floor Plan
A lot of new CBD apartments tend to have similar floor plans. An opportunity to stand out to your competitors is to find an apartment that is a little different from the rest. Consider an apartment that has a well thought out floor plan and adequate living space as well as a car parking space or garage.
Do not let your tenants feel that they are living in a boring and common environment. Find an apartment building that offers floor plans that are somehow different from the pack as well as an apartment the can offer easy living.
A livable space is always in great demand. Look for a unit that has an internal space of at least 60 square metres, particularly 2 or 3 bedroom apartments.
6. 4 Years Older
There are several new apartments that have values that tend to fall in just the first few years after construction. While there are many reasons for this, this drop or post construction drop in values usually stops around year 3 to 4. Meaning, you can most likely beat the stamp duty by buying an apartment building that is 4 years old or more.