Create an apartment-buying wish list

6 years ago
4 minutes

If you’re looking for the perfect apartment, whether it be to live in or as an investment, the best place to start is with a list of what’s important to you.

Here are our top five tips for creating an effective wish list to help you find your ideal apartment.

1. Location
The number one priority for most people is choosing a location that suits them. Whether you’re looking for a change to a suburb that matches your personality, or looking for somewhere close to your place of work, having a list of locations is the first step for most searches.

As an investor, the location pros and cons that would apply to you would also apply to anyone looking to rent, so always think about what you would want in an apartment’s location, that way you’ll be more likely to choose a home that someone else would want to live in. Check out our Suburb Profiles for useful insights.

2. Building Amenities
You might decide that having a range of high-end amenities in your apartment building is your top priority. Having a luxurious gym, swimming pool, residents’ dining room and a lush rooftop garden might be really important to you, particularly if you are compromising on space or are downsizing. These are all great drawcards when leasing or selling down the track.

But you might also choose to buy an apartment with no amenities and much lower owners corporation fees instead. That way you can spend that money elsewhere. Whatever you choose, an apartment building’s amenities and the costs associated with them should be carefully considered and defined on your wish list before you start searching.


3. Apartment Configuration
Have you determined what you need from your apartment’s layout? Make sure you’re clear on how many bedrooms and bathrooms you need now, and how many you might need in the future.

For some, having a separate study is essential if they have to work a lot from home. For others, a simple study nook is more than enough for their needs. Would a European laundry be ideal, or do you need a larger separate laundry? Create an ideal plan for your apartment and you’re less likely to be swayed by salespeople. And it’s equally important for investors to maximise their spend by having a firm plan on what configurations are more popular in the areas they’re searching.

4. Public Transport
Even if you have a car, having access to good public transport makes life so much easier. Not every family is a two-car family, and it always makes sense to ensure you’re not reliant purely on a vehicle that may let you down at the worst possible time.

As an investment, choosing a property that is on a good public transport route is a considerable benefit. You’ll be more likely to rent your property out easily and a good transport connection is always a plus point if and when you come to sell your investment.


5. Developer Reputation
When you buy an apartment off the plan, you’re buying something that doesn’t even exist yet. So, it’s imperative that you have reason to trust the people you’re buying from.

Always take the time to research the developer, by checking out their website to explore their previous projects. Try to find customer reviews on impartial sites, and make sure you like the look and style of the kinds of apartments they have developed in the past. Our thorough Developer Profiles are a great place to start. Find a few developers you like and add them to your list.

There you have it – arm yourself with a well-considered wish list and you’ll be well on your way to finding an off the plan apartment that will deliver exactly what you want, either as a cosy home or a successful investment.

Want to learn more about off the plan apartments? Discover more lifestyle and buyers tips articles here.