Not so long ago there was a belief that it was better to invest in a house or duplex rather than an apartment. The reason being the value of the investment was perceived to be in the land, so investors focused on buying houses where the land value would appreciate for years to come. However, with the rapidly increasing population, a growing trend of people preferring to live in apartments close to infrastructure and offering great facilities, plus the high cost of buying real estate, apartments are increasing in popularity and proving to be a high performing investment choice.
Here’s a deep dive into some of the key benefits of buying an apartment and some points to consider when making your selection.
Apartments offer an affordable entry point for first time investors. The lower outlay means fewer risks and more investment choices. It also gives investors who are cashed up the opportunity to buy multiple apartments, enabling them to create a diversified portfolio and spread their risk.
Housing Australia’s expanding population
Australians than ever are choosing to live in an apartment, whether out of preference, convenience or for other reasons. Over the past 25 years, the number of occupied apartments in Australia has increased by 78% according to the most recent census. A trend more prevalent in urban areas within Australia’s major capital cities.
Additionally, the ABS projects that the number of people living alone will increase significantly over the next decade from 1.8 million in 2001 to between 2.8m and 3.7m by 2026. People living alone are actively choosing to live in apartments. Why, because they are often close to urban centres (which is where they want to live) they offer facilities they could not afford in a house and in many instances provide a sense of community and belonging. We buy houses in North Richland Hills Tx
Mass buyer appeal
Apartments are also popular for a wide range for buyers – for first time buyers, downsizers and other investors. So when it’s time to sell your investment, your buying audience is broader, giving you more opportunity to appeal to the mass market which creates competition for your property and drives the price higher.
Another advantage of owning a unit is that everyone shares the cost of building repairs, maintenance and building insurance. Keep in mind the more facilities and amenities your building has the higher the fees. But with this also comes greater potential for higher future value and the opportunity to increase your rent.
We all know the importance of good kerb appeal. It draws people in off the street and can make your home a bright star in your neighbourhood. But what about when you live in a flashy area, or are struggling to get traction during the sale process, even with what you think is kerb appeal maxed out to the limit?
Not everyone can find instant success with the standard moves for improving a home’s kerb appeal, so here we have compiled some more unorthodox methods that might get people talking about, coming to see and laying bids on your home for sale.
Without spending too much money, hiring a water blaster is a great way to clean concrete areas of the front of your home. Sealing and hosing is well and good, but if you’ve been living there for quite a while, grime can build up a great deal.
A water blaster will brighten a grimy driveway significantly more than a regular hosing, by blasting away layers of grime. Just remember to check the safety manual before you turn it on . Then have a go, and watch your driveway gleam.
A paint refresh
If you want a quick fix to grab attention, a brand new paint job won’t go astray. But think outside the box with the colour you use, and maybe target only one area of the home. For example, the door, or wooden blinds, or even the post or frame for your letterbox. Something to grab the eye, but not enough to dominate the view of your home.
Sometimes the wandering eye of a home buyer just needs a little push in the right direction, and adding a tiny touch of bright red can do just that. From there, the eye can wander to the rest of your beautifully laid out property facade and – who knows? – maybe even all the way to a sale!
Colour Creations to Attract More Buyers
The garden is one place you can have fun with colour but rather than introduce lots of different colours into a small garden bed, try sticking to one shade, perhaps using varying tones. You can add instant colour with pots of whatever is in flower from the nursery.
Neat and Trim
Just like inside your house, your garden should be neat, tidy and clear of clutter. Weed your garden and keep the lawn trimmed when opening you home for inspection. Consider your plants – remove dead plants and replace with new specimens, but make sure they suit the conditions in your garden: you don’t want them to die before you sell.
Styling your Garden
You can give your garden a simple makeover before you sell by adding defining borders to your flower beds and adding a focal point. Timber borders are popular, or you can outline your beds with small shrubs or grasses. Add a few larger plants as focal points but keep them in proportion to the size of your garden.
Creating a Courtyard
Many houses today, particularly in the inner city, don’t have large gardens. Often there is only a small courtyard so it is important to maximise this space. The first step may be to create a focal point like a water feature, statue or urn. This should be placed at the furthest point from the entrance so your buyers vision is drawn a distance, giving a sense of space.
You can also give an illusion of space by paving the entire area with large pavers (500x500mm) to make the ground look wider and less busy. Don’t use any dark colours in your courtyard structures as these reduce the perception of space.
Trim and Slim the Trees
It’s a strenuous job, but those loose tree branches can be hazardous, especially with kids running around in the summer. Any low-hanging branches or parts that are blocking sunlight you want on your home should be cut back, but check with neighbours and local councils if they reach over a fence – you may need to get a permit!
Mulch Mulch Mulch
A great way to refresh plant beds and border your lawn with a bit of colour is to add some mulch. You can pick up many varieties at local garden stores and dispense it as you see fit! A nice shade to contrast with your green grass can make for a real eye-catcher for anyone who glimpses your lawn.
Add Interest to Your Doorway
If you have sufficient space, place a range of matching terracotta pots with plants against the wall near your entrance. For the average sized doorway use the pots up to a metre high. If your home is an older style, aged classic cone shaped pots with a rolled rim containing colourful flowers, like geraniums, will give a traditional welcome feeling. For more modern homes tall angular pots that taper downwards are very popular – add architectural plants like succulents for a dramatic effect.
Keep it Balanced
Try and keep everything symmetrical. If you are using pots and plants to add interest, put one either side of the entrance or you might like to hang two matching lanterns for a warm glow. The trick is to keep it simple and not clutter the space. This is an easy way to add character to your home without breaking the bank or distracting from other prominent features.
Step Inside and See the Light
Often hallways are narrow and dark. If your house suffer from this problem, try painting the walls white to lighten things up, or add a sky light. By adding more natural light it can increase the sense of space and comfort throughout your home. A broad runner will make a hallway seem wider.
Shabby Doors Need to be Spruced Up
Your front door is the first thing your buyers see, so if it needs a lick of paint get out the brushes! You might also consider a new handle or knocker – this is an inexpensive way to update your door.
Pave the Way to a Successful Sale
Guide buyers to your door with a paved pathway. Plain white pavers look terrific against a green lawn. If the steps to your front door look at a little shabby a great trick is to the tile the step rises, rather than ripping everything out and starting from scratch.
Maintain Your Privacy
In many areas, especially the inner city, security and privacy are selling points, so low to medium wall at the front of your house can appeal to buyers. Don’t forget to check with your local council to ensure all building regulations are met.