When you’re thinking of investing in property and in particular in off the plan or brand new apartments, there are many factors you need to consider when choosing between developments. Some offer high luxurious fixtures and finishes, while others offer the latest designer inclusions such as vertical gardens and mood lighting. The challenge is to find a property that will offer you the benefits of a safe and profitable investment while at the same time giving tenants exactly what they want. With this in mind, let’s look at 3 of the features you should look for in an off the plan or new apartment.
1. An Open Plan Layout
We hear a lot of about “open plan” design for apartments, but what is it exactly? Essentially, an open plan design means that there is a focus away from small, boxy rooms to larger rooms that flow into each other. The original concept in housing was developed by the famous architect and interior designer, Frank Lloyd Wright. He believed that the kitchen should be the central space of a home, rather than a “closed” room at the back of the property. The majority of today’s apartments tend to follow this model, with the kitchen flowing into the living room. If you’re investing in property and looking at good design, it is important to find an open plan layout that really works, for example:
- Are the bedrooms set back from the main entertaining areas (and therefore more private)?
- Are the bathrooms near the bedrooms?
- Does the apartment feel open and spacious or small and boxy?
Tenants will be on the lookout for these features, especially in higher end developments, and many will pick a property simply because it “feels right” or feels spacious.
If there is one downside to living in an apartment it would probably be the lack of convenient storage space. Anyone investing in property should look carefully at the amount and quality of storage included in an off the plan or brand new apartment as this will give their property an “edge” when it comes to attracting high value tenants.
An apartment with good storage might offer features such as well-designed or clever kitchen cupboards, hallway or study nook cupboards or shelves, floor to ceiling built in wardrobes in the bedrooms, or the ever popular storage under the stairs. It may also include a storage cage, usually located in the parking or basement of a development. These types of features can set your apartment ahead of the rest.
3. High End Fixtures And Fittings
It is easy to spot a designer kitchen – it might have high tech bench tops (possibly made out of granite or Corian), high-end, expensive looking appliances and features such as soft close drawers and cupboards. The same applies to every corner of a high-end apartment, including the type of carpet and curtains, the quality of the heating and cooling and the fixtures in the bathroom and laundry. Particularly young professionals and retirees who are looking to rent an apartment will be looking for a feeling of luxuriousness and the best fixtures and fittings for their property.