Five things to look for when buying an apartment

Oct 22, 2019

Earlier this year, we had the privilege of hosting local apartment living guru, Sam Reece, who spoke about some of the key things to keep an eye out for if you’re looking to purchase an apartment. Not every development is the same, so it’s important to be informed to ensure you’re making a sound investment or getting what you want out of a home.

Everyone who attended the seminar learnt a great deal, but for those who missed it, we’ve summarised the key takeaways for you below.

1. No way, short stay!

When looking to buy an apartment, it’s important to find out if short stay accommodation sub-lets, like AirBnB, are permitted. If they are, you may experience more potential disruption and noise due to people coming and going on a frequent basis.

At Liv, we’re big on community. We want our tenants to know their neighbours, establish and nurture relationships and build a collective sense of ‘home’. That’s why, from the very beginning, we chose not to permit short stay accommodation sub-leasing.

Not every development thinks like us, so be sure to ask the question about how apartments in a development are permitted to be used before signing for any property.

2. Avoid parking headaches

About half of all apartment owners pay an additional lump sum for one extra parking bay on top of their allocation. Often, apartments have one designated parking bay and, often, this is sufficient. But while Liv is located very conveniently near public transport to make the daily commute a breeze, we understand every buyer’s transport needs are different. That’s why you’ll see a number of options available upfront when it comes to parking.

We understand that people purchasing a three-bedroom apartment might require more parking bays than those buying one-bedroom apartments. The important thing is that you should have the choice to ensure you’re not paying for what you don’t need, and not paying more than you should because of your unique circumstances. Chat to the sales agent and have a frank and open discussion about your needs. Our agents are always happy to help find the best apartment and car parking option for you here at Liv.

3. Change isn’t always a good thing

Before settling on an apartment, ask about nearby developments in the works to ensure it won’t impact your living experience.

It’s important to keep in mind that planned developments can be a positive too, particularly those that provide additional amenities nearby. For example, Liv residents can look forward to Fremantle’s King’s Square development being completed, which is bringing fresh life to the heart of Fremantle. The development will be a vibrant community hub with professional workspaces, retail and hospitality outlets, public art and plenty of spaces to relax and play.

4. Design front of mind

Property buyers are generally savvy and looking for equally intelligent apartment design. Keep an eye out for quality appliances, smart technology features and elements that save the environment while saving you money.

Liv is a One Planet Living community, which means our entire development is designed with sustainability in mind. From the communal edible gardens through to our residents’ real-time water use app MeterView, we’ve made a conscious effort for keep our designs clever.

Liv was architecturally-designed by Hassell, and received the Sustainable Architecture award at the WA Architecture Awards in 2019. This award acknowledged the creative and intelligent thinking that went into designing Liv and recognised how its features enhance the environmental, social and economic aspects of the development.

Newer properties typically have smarter design features, and purchasing new property also has its benefits. Not only are living costs reduced with better energy efficiency, LED lighting and double-glazing, those purchasing new property see benefits at tax time and in the future. According to a McGraw Hill construction report, ‘green’ buildings can improve return on investment by more than six per cent.

5. Apartment life is all about LIVING

When purchasing any property, you should be mindful of buying into the lifestyle. Before committing to any apartment, make sure it suits the lifestyle you want. Check how close you’d be to public transport, leisure and recreation facilities, gyms, outdoor spaces, arts and culture and of course, restaurants, bars and cafes.

If you have a pet, or can see a pet in your future, it’s also important to determine whether the development allows pets and whether there are vets and dog exercise areas close by.

Liv Apartments is just a short walk from the cultural buzz of downtown Freo, with a great food, arts and health scene on our doorstep. Plus, we’d love to meet your pet!

Keen to learn more about how Liv might fit your preferences? Get in touch with us today and we’ll gladly show you around.

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