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C&G's Guide to One Bedroom Apartment
As house prices rise and demand for all kinds of dwellings increases, many investors and first home buyers are turning their attention to one bedroom apartments. In today’s blog, C&G unpack what to look for in a one bedroom apartment and how to make the most from your purchase.
What to Look For in a One Bedroom Apartment
What to look for in a one bedroom apartment does depend on whether you plan to live there or lease the property out. That said, there are a number of factors that make a good one bedroom apartment that are applicable to both owner-occupiers and investors.
● Space – not all one bedroom abodes are created equal. Those with extra space beyond your standard bedroom, en-suite, kitchen and lounge will often fare better when the time comes to sell.
● Outdoor space – balconies and courtyards add serious value to one bedroom apartments, as compact living doesn’t lend itself to much outdoor access. Any outdoor space is especially valuable.
● Small blocks – boutique blocks of 20 apartments or less tend to be more attractive to buyers and tenants than larger buildings with hundreds and hundreds of residents.
● An active owners corporation – while not specific to one bedroom apartments, any dwelling on shared land benefits from a proactive owners corporation. Take time to look through the Section 32 for clues on how the OC has responded to any issues, and you can request the minutes from the most recent Annual General Meeting, too.
● Separate access to the bathroom – many one bedroom apartments only have en-suite access to the bathroom. Having a separate entry makes life easier when you have guests, as they don’t need to pass through your bedroom when using the bathroom.
● Surrounding apartments – apartment living is known for the risk of noise disruption, so choosing a one bedroom apartment with minimal shared walls can reduce the risk of disturbance.
Are One Bedroom Apartments a Good Investment?
When chosen correctly, yes, one bedroom apartments can be a great addition to your investment portfolio. As Melbourne house prices surge, young people are renting for longer and adopting a more fluid approach to work and life – and that means the flexibility to move around.
When looking for an investment-grade one bedroom apartment, look for properties that are close to public transport links to major cities, and amenities like shops and cafés. Young people are one of the biggest renting demographics, so investing in a property near to the lifestyle assets they value can mean a more lucrative investment with consistent demand a minimal vacancy.