Whether you are making an investment or buying a home, a unit requires a little more than just checking the price, condition, and location. Apartment living is definitely appealing, which is why it’s increasing in popularity. Have look at some of the considerations you should be making if you’re thinking about purchasing a unit: 

 

 

Ownership Costs

 

If the unit or apartment that you are buying is a strata title, you need to think about the annual’ owner corporation fees and additional costs. You should make sure you are made aware of all the costs that are involved and become familiar with strata law. Your fees will cover the costs of things like lift maintenance and other communal areas. You should also ask if there are any planned capital works, you may need to contribute if there is. 

 

Car Parking

 

Make sure you research the car parking facilities. Are you going to have a car space allocated ot your unit? Will it be part of your title? Is there plenty of spaces for visitors? There isn’t likely to be much car parking near a unit development so car parking spaces are an important consideration. 

 

The Noise Levels

 

It’s a good idea ot visit the unit at a few different times of the day. This is the best way to assess the noise levels in the building and outside. Remember there is always the potential of neighbors who come in and out at all hours or throw late-night parties. 

 

The Rubbish 

 

It may sound a bit boring, but, it’s important to ask about the waste disposal arrangement. You don’t want to be trudging down several flights of stairs to get rid of your trash. Having a waste disposal chute is ideal, but you also need to make sure it doesn’t make the building smell. 

 

Vacancy Rates

 

If you are buying this as an investment opportunity. You need to be aware of the current vacancy rates. It will give you an idea of how difficult or easy it may be to find a tenant. It will also give you an insight into the rental income you could expect. 

The Facilities

 

You should have the facilities are the top of your list of things to check. Is the unit you are looking at close to the facilities that are important? Think about shops, parks, schools, public transport, or places like the gym. Only you will know what facilities are most important for your family.

 

Space

 

Take this into careful consideration. Does it have the right configuration and number of rooms for your needs? The correct number of bathrooms and bedrooms is obvious, however, you also need to think about study, work, and recreational living spaces. 

 

Planned Developments

 

These are always a little bit of a pickle. If there is planned development near the unit, it worth thinking about it may affect the value of your unit. If you drive around the neighboring streets, it will give you a good idea of any work that is currently happening. Also, check with the local council for any future developments. 

 

These seven things are all important to consider when buying a unit. Are you thinking about buying a unit? What are you considering?