If you’re planning to buy an apartment as an investment, you’ll want it to be of sufficient quality to minimise maintenance and maximise occupancy. How do you ensure that the property is good value?
Location is an important consideration – if your apartment is at the heart of an up-and-coming suburb or has great views, it will hold its value better than a building in the suburban ‘backlots’ where there is limited access to public transport and shops (unless of course that area is likely to be developed).
As far as the apartment itself is concerned, two elements stand out as being of particular importance: noise (from within and outside the building) and quality of fittings.
External noise will be muted by thicker walls and double glazing on windows as well as insulation, so these are things to check for. The standard minimum rating is 55 Rw (for ‘weighted sound reduction index’), but you could also just stand quietly inside the unit and listen for sounds from outside.
Noise between apartments is the greatest source of tenant complaints, but there are no standards for insulating internal walls. So take a friend along when you inspect the property of your choice and have them talk in one room while you listen in the adjoining one, to see just how “soundproof” it is.
Next, check the fittings (door handles, cupboards, bathroom fixtures, carpets). If the apartment is new and cheap fittings have been installed, it may be that corners have been cut in the whole project and you could end up with problems in the future. If it is an older style unit, be aware that poor quality fittings might need to be replaced sooner.
A high quality, well-maintained apartment is not only more likely to appeal to prospective tenants, but they are more likely to respect it, pay a higher rent and enjoy living in it as well.
We hope you have enjoyed this article. It is our pleasure being your real estate agents in Brisbane.
If you would like any assistance or advice, please feel very welcome to get in touch with our Brisbane real estate agents, Brisbane property management team, or Brisbane buyers agents.
