When buying apartments, what do you look for?

I know that location is most important but I am talking more about the actual attributes on the title of the apartment. It would be good to get an idea of what everyone else feels is most important when buying units.
I own a few apartments and here is my ideal for on a basic 2 1 1.
1. Size. I want at least 80m2 including internal and balcony. Carspace not included.
2. Balcony. It must have a balcony, the bigger the better, ideally with an aspect and privacy.
3. Two decent sized bedrooms that do have or can have BIW.
4. An internal laundry or at least a separate private laundry room on title.
5. Separate lounge and dining or at least a lounge that is big enough to accommodate a dining area.
6. Lock up garage definitely over a car space.
7. Low strata fees.
8. Well maintained decent looking block.
9. Low rise 2 or 3 story walk up.
10. Bathroom with separate bath and shower.

Very hard to find an older low rise apartment with all of the listed attributes so the things that I have compromised in the past have been items 3, 4, 5 and 10 and it always annoys me for some reason.

 

Hard to add anything to your list which covers and ticks all the right boxes.

 

So most of these boxes are ticked if you're buying a post-1990's unit where planning laws became more stringent and expectations (& prices) rose dramatically.

 

I like the older red brick style units.
There is usually a few within a complex where the common wall is the laundry wall.
Generally they are about 65 sqm, but as long there isn't a lot of space wasted for hallways, its acceptable for me.

 

You will find that point no. 7 is often not great in these complexes and also point no. 9 isnt happening

 

@Inov8ive - Whistles and bells come at a price. Higher replacement cost factors into insurance premiums, greater scope of maintenance, higher expectations, more knowledgeable owners/tenants all add up in the levies.

 

11. Natural light is a big one to keep tenants happy and long term.
12. Good and efficient heating and cooling is important. The property's orientation will have an impact on this.
13. Common walls - lack of is better
14. Sound insulation - paper thin walls that carry noise (so you can hear the neighbour's toilet flush) puts tenants off from staying longer.
15. Views and top floor is great - but too many stairs put off some people.
16. Security is important - ground floor I find puts off single females.

 

Nice post! All very good points

 

At the end on the top floor would be the pick of the bunch.

 

That's up there on the wants list too.

 

don't forget good feng shui;
ie more common sense than hocus pocus- things like good air flow/ventilation, aspect, natural lighting, well laid out internal configuration, not directly in front of a main road- especially lower floors, etc...

 

thanks @Inov8ive & @Chris White
anything to add for townhouse?

 

There are definitely a lot more variables, but I would say try to find a townhouse that is detached or at least semi detached for more privacy. Definitely want 3 beds, 2 baths and a lockup garage. Need to have a toilet downstairs and upstairs for sure. The court yard needs to be substantial because a townhouse is often tenanted by young families. Obviously the more land on title the better. Definitely avoid any complexes that have pools, onsite manager or lots of grounds to maintain. Stay away from big complexes, more than 12 units and I walk away. Ideally ducted AC but that is rare. Additional balconies are always a bonus.

 

Exit the comfort zone Y-Man....

 

Hehe.
Steamy shower... brings new meaning to a steamer.

 

Our highest capital gains came from a unit in a block of 80, with on site manager and two pools! Over around 10 years total vacancy was less than two weeks. As costs were spread between so many owners the fees were very reasonable.

BUT we bought one of the most desirable locations in the complex. Most tenants were sourced from within the complex, and the manager had a waiting list of existing tenants waiting to move into a unit similar to ours.
Marg

 

@Marg4000 What made it so desirable?

 

I like older style walk up units, they're usually very solid. What I try to avoid are the ceilings with sprayed on kitty litter - especially with a few decades of accumulated grime, they can make a place look really depressing.

 

100% Agree!! Lol kitty litter ceilings!! Horrible stuff!!!