You’ve had a long day at work and you grab your phone and make a booking for a deep tissue massage. Or maybe you feel like some take-away for dinner and watching a movie under the stars with your partner. Possibly you’d like to do a few laps in the pool and follow it up with a quick trip to the spa for some additional pampering. Imagine being able to do any or all of these things without leaving the comfort of your own apartment complex?
This kind of modern community living is now becoming a reality as property developers push the envelope to deliver even more value for buyers and investors. As a good property investment tip for people looking to buy off the plan apartments, it is vital to think about the long term growth in value of the property, but also how well it appeals to potential tenants and having these kind of amenities certainly can tick the boxes for many people.
As the demographics of our society change and more people take up apartment living there is a natural progression towards more tightly integrated services within the building itself. Developers are meeting this requirement by focusing on the concept of turning their building complexes into fully functioning community centres for the residents.
Buildings with pools and gyms are now pretty much standard in all apartment developments in Australian CBD areas and in and of themselves, these facilities are not enough to sway buyers or investors to purchase new units off the plan. However, when people see large, vertical gardens in the atrium of the building and are told about the rooftop dining area and outdoor movie facilities, the value of the overall project stops being just about location and the size of the actual unit.
Having made the decision to live in an apartment in a more urban area, the idea of having to battle traffic to go to the gym, go out for dinner or watch a movie is somewhat counterintuitive. The advantage of having these kind of facilities right within the building where you live, delivered in style has an obvious appeal for both residents and investors. You get the absolute best aspects of living in a city apartment while being able to treat yourself with hotel like facilities.
Initial reactions may be that this type of development might only appeal to younger city workers without kids, but that would be inaccurate. Developers are adding in children’s play areas to rooftop gardens and some are even including childcare facilities onsite. Facilities like green walls and even communal vegetable gardens are appeal to retirees looking to downsize. A property investment tip is to look for off the plan or new developments that offer a range of these different features.
It is very important for people looking to add investment properties to their overall portfolio to keep on top of these changes in the type of facilities being offered by developers. Having these kind of facilities within the complex of your investment property will appeal to a wide range of potential tenants. These type of boutique community development projects are by no means the norm and that creates a possible point of difference for investors.