Affordable:
Almost everywhere in Australia, the median cost of buying an apartment is less than the median cost of buying a house. This means that if you have a limited budget or want to spend less on a property, an apartment could be a smart choice.
Secure:
Because a community resides in the same building, security in an apartment complex is higher than in an independent home. Guards are installed at the building entrances, and some apartment complexes also provide swipe cards or code access. CCTVs are installed in most areas, including vehicle parks, lobbies, corridors, and common areas.
Low Maintenance:
Another benefit of apartment living that should not be overlooked is that you will have fewer maintenance obligations. When you live in an apartment building, a strata committee will organise upkeep, which you will pay with Strata Fees (or body corporate fees). Strata Fees often cover the following:
-Building Maintenance
-Insurance For Buildings
-Cleaning
-Caretaking
-Water and Electricity
Multiple Amenities:
Apartments come with high-end fixtures, imported sanitary ware, and lifestyle features like a gym, swimming pool, playground area, and community centre.
Versatility:
Apartments provide much flexibility in terms of lifestyle. For example, you can select from several apartment sizes, floor plans, and other features. If you have a little family and want to reside in a quiet neighbourhood, single-unit apartments may be the best option; however, if you have a large family, you can seek luxury apartments with 4 or 5 bedrooms above 4000 square feet.
Community:
You have a higher chance of building long-lasting relationships with neighbours when you live in an apartment, rarely seen when you live in an independent house.
Accessibility:
Apartments are typically built in well-developed locations with access to various educational, medical, and recreational resources. They also make commuting easier if you do not own a car by providing access to adjacent bus terminals. Depending on your choices, you can choose to live in a bustling city or a serene and quiet residential region.
Since Apartments are primarily located within or near the CBD, the Occupancy Rate for Apartments is always high.
The Occupancy Rate is defined as the proportion of rented apartments to the total number of units available in a city's rental market. Example: Suppose there are 20 units in an Apartment Complex, and 18 of them are occupied. Therefore, the Occupancy Rate is 90%. Occupancy Rates are critical for real estate investors because they serve as a predictor of expected cash flow. The primary goal of a buyer who wants to invest in real estate is to generate rental income. As a result, determining the Occupancy Rate is required to measure the performance of the real estate portfolio. A high Occupancy Rate usually means that the real estate properties are being used to their full potential for rental income. The rationale for this is that it shows how much predicted cash flow a real estate investor can expect from their portfolio.
Answer: To buy a unit in an Apartment close to Brisbane CBD, it would cost you AUD 700000 to 1 million AUD and above.
Answer: Brisbane, the state capital of Queensland, is not immune to the housing boom, with weekly asking property prices rising dramatically over the last year.
With a budget of 600,000 AUD, buyers can purchase 2 Bedroom Units in an Apartment but a little far from CBD or 1 Bedroom Unit close to CBD.
Answer: Considering the current real estate market, the minimum price range/budget for a unit in an Apartment would be AUD 600,000 to AUD 1 million and above.
Answer: Rental Appraisals are used for various things, including loan applications, refinancing, and giving landlords an estimate of how much their property will make so they can plan accordingly.
When you apply for a loan for an investment property, your broker or bank manager will ask for a Rental Appraisal, which will be included in the loan application they submit to their lender or bank.
If you wish to rent out your home, the most recent rental appraisal will help you evaluate the rental yield and whether the monthly rent after property management fees will be enough to cover the mortgage.
At Edifice Real Estate, we can provide a free rental appraisal with comparative market research and statistics in partnership with other Property Management companies upon request.
Answer: A landlord’s biggest fear is a tenant who can not or will not pay rent. Rental Guarantee is a risk-management policy protecting landlords from financial loss if a lessee fails to pay rent. If a covered tenant stops making payments, the Rental Guarantee covers the monthly rent for a predetermined length of time. In partnership with other Property Management businesses, Edifice Real Estate can arrange a rental guarantee based on their terms and conditions of property management.
Answer: At Edifice Real Estate, we will arrange to bring tenants for your property with a minimum vacancy and maximum occupancy with an excellent rental yield based on the current market situation.
Answer: Yes, overseas/ foreign buyers can purchase property in Australia subject to certain terms and conditions.
Please get in touch with Edifice Real Estate for further discussion. We have expert Consultants for overseas/ foreign buyers who will explain everything in detail and guide you through the procedure. Once you contact us, we will set up a Consultation Call (Video/Phone) for interaction, explanation and resolving your queries.
Answer: Yes, if buyers are interested, Edifice Real Estate will often try to get an off-the-market plan, which can often be the best offer with good land size and pricing.
Buying a property off-the-market plan means signing a contract to acquire it before the property title is created and the building begins.
Answer: Yes, Edifice Real Estate can assist you with financial/mortgage estimates and services. We have strong ties with mortgage brokerage firms to serve our clients better.
Answer: Yes, at Edifice Real Estate, we will introduce you to a good Conveyancer/Solicitor.
Answer: Depending on the circumstances, it will take 6 to 10 months to settle a newly purchased property.
With years of experience in Australian real estate markets, Edifice Real Estate can help you find steal deals on the property whether you’re looking to invest or live in.
