4 tips for buying a stand-out Melbourne apartment

The most recent census found that almost half a million Victorians live in apartments, most of which are here in Melbourne. The right apartment can provide an incredible lifestyle close to the action, but many locals are hesitant.

The truth is buying an apartment in Melbourne isn’t a bad idea, as long as you take care to buy well.

1. Look for smaller apartment developments

Generally speaking, the fewer apartments there are in a development the better. That’s because if you ever resell in a large complex there may be several similar apartments in the same building on the market at one time. This can drive down your sale price.

Smaller developments may also have lower body corporate fees and fewer members, and they’re often built with more attention to detail.

When searching for an apartment look for wide-open, brightly lit spaces.

2. Think carefully about the location

When purchasing a Melbourne apartment, location should be at the top of your mind. After all, the whole point of living in an apartment is to sacrifice a little space to be closer to the city centre or a suburb of your choosing.

Look for apartments in locations like Brunswick, Ascot Vale and Fitzroy that are central and growing fast. Areas like these provide an enviable lifestyle with plenty bars, cafes and shops, so they’ll always be popular.

3. Prioritise efficient design and daylight

Apartments that are well-designed and a pleasure to live in are far more likely to increase in value over time. When searching keep that in mind, and look for the following features:

• Windows in every room and large windows into common spaces. Daylight and ventilation are key to making apartments comfortable and liveable.
• Wide, rather than long spaces. Many apartments are long and narrow, but wider spaces are generally better to live in.

You should also consider the appliances and fittings in mind. If they’re of a premium quality it’s likely the rest of the apartment complex will be finished to a high standard.

The right apartment can allow you to live close to everything that makes Melbourne such a great city.

4. Consider the future

To buy well you have to consider the future. Speak to your local agent and council about any developments planned in the immediate area around your apartment. Take extra time to look into what’s planned for neighbouring blocks to make sure your view won’t get built out.

If possible, try and buy opposite a park or quiet residential road so that you’ll never lose your view. Our agents at Nelson Alexander are experts on the Melbourne apartment market – we can help make sure you buy well, and for the right price.

To find out more, reach out today.