Apartment living in Australia is at a high. First home buyers, investors and downsizers are snapping up new apartments throughout Australia, to not only take advantage of the financial gains, but the lifestyle change as well.
Whilst by no means a new revelation, new apartments in Melbourne, and now Sydney, are being built by the dozen, with central business districts dominating the interest. Despite a number of foreign and local buyers are deciding to invest, it is important to understand how apartment living separates itself away from a house on a property.
With almost guaranteed views, modern living, and the latest appliances, off-the-plan apartments are attractive as a whole, and are not just limited to the single or couple households.
“Most buyers do not have to, nor do they want to, move in straight away. They have time to save their money and obviously they have the benefits of buying brand new. Customisation of layout, specific colour schemes and personal idiosyncrasies can also be tailored in that time to make an apartment more home-ie”, said Project Marketer, Leonard Teplin, of Marshall White.
The main advantages of apartment living are personal and unique to each occupier. Each individual requirement will differ per buyer, but thankfully in Melbourne, and Sydney, there is an abundance of choice.
“Low maintenance living is extremely appealing to anyone really, as a lot of apartments are single storey. Views are generally offered and in an increasing number of developments, lifestyle amenities such as gyms, tennis courts, function rooms and rooftop gardens are being offered”, Mr Teplin continued.
Apartments today are so concerned about lifestyle living, that there are even studio apartments with interchangeable walls and doors, allowing the resident to manipulate the floor-plan of their apartment to fit their desires.
Eduardo Godinho, a recent off-the-plan apartment buyer, insisted that timing and grants was the key to his purchase, “timing was a huge factor…we were prepared to enter the market in 2012, however we didn't want to move in until 2014 as we had planned travel commitments.”
“As a first home buyer, we received great savings on stamp duty, and the first home buyer grant, plus a few bonuses, gave us nearly $20,000 that contributed to covering settlement costs and furnishing the apartment”, he continued. “Would recommend off-the-plan apartment living to anyone, as long as they research, research, research - much like any purchase really…review the developer’s previous projects looking for quality in finishes, design and structure”.
Lifestyle choice is unique and independent, but thankfully, due to the choice here in Australia, an apartment and subsequent amenities for you won’t be too hard to find.
Check out the latest new developments here.