If you’re looking for a city apartment right now, you’re probably seeing similar styles of property and wondering how to decide which one is the best for you.
This can be daunting, but the answer is often found by selecting your favorite location.
The best medium to long-term investments for residential apartments in urban areas are usually predicated on them enjoying a fantastic position.
As an experienced local agent, I am familiar with properties that can demand a premium based on their location and those areas on the “up and up”.
Before making any commitment to purchase, you should always check out each area’s price trends over a five to 10-year period. This will give you a guide on how much your property might be worth in the years ahead.
You should also ask about the supply of apartments due to come on to the market right now. As a rule, it makes sense to avoid areas where a new block of apartments is about to be released, as this can sometimes act to depress the value of your purchase for a couple of years.
So, if you’re wondering which apartment to choose and struggling to separate them on their building and design alone, here is a short checklist for you to evaluate your location.
- You feel you’re at the center of urban life – If you opened the windows, you’d hear the industrious hum of the city and the occasional siren or taxi horn blaring. Shut your eyes, and you might feel you’re at the center of the universe.
- Stores on your doorstep – You can walk to pretty much everything the city offers – great retail, galleries, museums, bars, clubs and restaurants. You name it, you should be able to walk to it. That’s why folks love urban living.
- Great dining – Whether its quality coffee, affordable take-outs, easy home delivery or fine dining, urban living is known for its fabulous food selections just around the corner.
- Room with a view – This isn’t essential and will come at a premium, but there are few better experiences than having an apartment with city views. You’ll never be bored looking out the window.
- Transport to the door – The best urban locations have excellent access to public transportation, which means you don’t need to blow your cash on repayments for a car. But it’s fun to rent one to get out of the city every once in a while.