Compared to house & land packages or buying a townhouse off-the-plan, off-the-plan apartments usually take a longer time to build. Typical build time is approximately 2-5 years, compared to 6-18 months for house & land or off-the-plan townhouses.
In our many years of experience, the best off-the-plan apartments can be identified firstly by their excellent floorplans, where the developer has clearly spent time and care thinking about how someone will live in these spaces – things like natural light, ample storage and open plan living.
A quality apartment site is typically much closer to shops, transport hubs and jobs. The best apartment buildings may even have ground floor retail, such as cafes or a Woolworths. As part of resident’s facilities inside the building, they may also have a gym, pool, cinema, private dining areas or car share.
Importantly, the best apartments are also future-proof in terms of technology, for example with electric-car charging facilities, or perhaps even ground floor refrigerated lockers that can allow a Woolworths grocery drop-off without you needing to be home to receive them.
Buildings with a component of renewable resources are also a great sign – for example, solar panels or rainwater tanks used for the garden.
Buildings with a social component designed to foster a sense of community are also becoming more prevalent. For example, with a monthly BBQ organised for residents, free yoga classes or an app to help communicate with other residents in the building.
This aspect is becoming even more important as we see a shift, with not just young families choosing to live in apartments, but also families. A more ‘community-minded’ building can replicate the traditional community of neighbouring houses on a cul-de-sac with kids playing on the street. Seeing how developers continue to cater for this growing market is an interesting trend to watch over coming years.
At Ironfish, we have an in-house property selection and research team which monitors the market and identifies great quality apartments in excellent locations for our investors. We are proud to be associated with so many award-winning and iconic apartment buildings around the country.
As part of our service to customers, the property team conducts a rigorous due diligence process, covering off all the above considerations, along with many more, to make buying an off-the-plan apartment as simple and convenient as possible and to provide additional peace of mind for buyers.
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