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Andrew Winter’s five tips to making a sensible apartment investment rather than buy a house

Andrew Winter’s five tips to making a sensible apartment investment rather than buy a house
Andrew Winter’s five tips to making a sensible apartment investment rather than buy a house

Investing in apartment rather than a house can be a sensible option and deliver good returns, as long as you follow some basic guidelines, says Selling Houses Australia host Andrew Winter.

He describes buying a modest two bedroom apartment in London in the mid-1990s as one of his best investments he ever made, writing in the News Limited press that it delivered 60% capital growth in less than a year.

Seeking to dispel the myth that an apartment is an inferior investment option per se than buying something with its own front door, Winter advises the following:

numberonejuly11Keep in mind the advantages and disadvantages of apartments over houses when looking for an investment. The advantages include being generally cheaper to maintain, better security and sometimes a great view. Disadvantages include potentially loud neighbours or a lack of privacy though he points out that acoustic controls have improved in recent times.

numbertwojuly11Only purchase in a location or area where buying an apartment is more affordable than buying a house or where a house is not an alternative option - such as in the centre of cities. Not grasping this rule, Winter says results in most of the investment disasters he sees.

numberthreejuly11Location is key for buying an apartment even more so than when investing in a house. He suggests that you tread cautiously when considering an apartment in the outer suburbs and rural locations, even if they have “nice features”.

numberfourjuly11Make your selection very carefully once you are sure it’s in the right area and at fair price. Winter says features that should be sought after include some outside space such a balcony, a reasonable amount of natural light, and the right location and design for the development. He says corner units are preferable as they have more than one view and to avoid units that have no view at all or only of brick walls or air conditioners.

numberfivejuly11Don’t pay huge premiums just to move up a level unless there is a clear improvement in the view. Winter says to avoid being too high-up as your view may just be of other balconies and the sky and very windy.

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