Folks, things sure have been heating up in the high rise apartment space recently and we MUST address a seriously important question, for property investors and home owners alike…
Should you be considering buying high rise apartments in the wake of some very high profile cases revealing significant issues??
We’re talking about the high-rise apartment evacuations that’ve been happening our main centres due to building defects — Opal Tower, Mascot Tower, LaCrosse apartments and Neo 200 —which have resulted in cracks to main structures, severe and unsafe water damage, FIRE (such as the cladding fire in Melbourne’s CBD) … all things that we can all agree are very problematic. Not to mention are also leaving a fair few folks homeless, out of pocket and fed up!
So, not only are you likely to struggle to get a return from high rise apartments, it’s evident that some (we’re definitely not saying all here) may pose a safety risk as well.
But if 1 in 5 wanting people are actually WANTING to live in apartments (which is up from 1 in 7 in the 1990s)…. it can definitely be argued that there IS a growing demand for one/two bedroom living… the question is… What should you be considering (and avoiding!) if you are wanting to invest in apartments?
And when it comes to high rise buildings, has the landscape well and truly changed?
… We’ve thrown in a Bonus Q & A to answer your specific apartment Q’s too, folks!!
Favour WANTED from Long term listeners (please!)….
Folks, we’re doing a shameless shout out for selfies!!! Yep.. this is the brief: if The Property Couch has changed you or the way you invest, or your money management or has helped you in any way, can you please record a selfie video of 60 seconds or less to let us know?? The reason we want these is to put the word out there, grow our community and ultimately help other folks avoid bad property decisions!!
Send Your Video Testimonial to email@example.com
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Bonus Q & A on Apartments
Question from Keren
What do I do with the apartment I bought prior to finding your podcast?? 😂😂😂
Question from Sabrina
I want to know if it’s worth buying an Off the Plan townhouse in Deanside (next to Caroline Springs in Melbourne) 3 bedroom townhouse, no body corp, under $390k
Question from Jake
Things to consider in regards to the sinking fund and if or how can the body corporate request to raise money from owners for certain issues?
Keep up the good work ✌️
Question from Rory
Have an old apartment built around 60’s. Bought it in December 2013 since then I’ve put in new carpet and vinyl. Should I get a deprecation schedule in it?
Question from Tania
What are some of the unexpected costs of buying/holding an apartment?
Question from Nicholas
How do you determine capital growth on an apartment if you are the second purchaser assuming that the original price has been inflated for developer costs and not an accurate figure?
Question from Sonya
With a budget of 700 to 800k. I would like to know if an apartment (not brand new) in Moonee Ponds is a better buy than a house on a 700sm size block in Glenroy, as a comparison apartment vs house. Thank you.
Question from Bryan
Is it safe to buy now in Brisbane apartments give lots of the newer builds have dropped 20% in price？Or do you think that is still overpriced？
Question from Laura
I want to know if it’s worth buying an apartment as an investment vs a house.
Question from Marah
Whether the ugly 60s / 70s brick monsters are a good investment how to protect yourself in an Opal tower situation…
P.S. Looking to get a free copy of Susan Alberti’s book, The Trailblazing Story of Susan Alberti – The Footy Lady? Click here and tell us which part of Susan’s story had the most impact on you! (ends on July 17th!)