Frank Valentic explains to first home buyers how apartments can be an affordable way to get into the property market. He shares his tips on what to look for when buying an apartment.

Transcript:

What to look for in an apartment 

Are you struggling to buy your first home?  Are you finding that property prices are climbing out of your reach?  Well apartments can be a great affordable way to get into the property market.

Today I'm going to give you some great tips of what to look for when buying an apartment.

Having a great street appeal like this property here, is always important when you're buying a property.  Also making sure that you're not buying in an area which is saturated with apartments, which if you're looking to resell, or if you're looking to rent the property out, can create much more competition.

Off-street parking is really important when you're buying an apartment.  It can not only give you a place to park the car, but can also give you some great storage.  

When you're buying apartments some of the questions you should ask:

 

• what is the properties title?
• does it have a strata title?
• does the property come with the car park on title?

 

Ask whether the body corporate or owners corporation are going to do any extra special works as you might be hit with an extra levy.

If you are living in an apartment on the top floor without a lift, think about the lifestyle of carrying groceries or your bike up the stairs every day.

You've got to factor in things like security which is a lot better on the top floor.  Top floor apartments tend to have more light a better view and better aspect.

Try and buy properties that do have land value and they are in smaller boutique blocks so that will increase your property's value and growth further.

So buying an apartment can be a great way to get into the property market.  It's lower maintenance and a more affordable option and it can help you get in and secure your Great Australian Dream.