This is the period of the Apartment housing plan. More of us now rent than have done for years, more of us buy-to-let, and more buy apartment property as a pension-provider. Novice buyers vie with downsizers and random apartment realtors. Anyone with a bit of money to reserve dreams of a garret or a extravagant apartment condo. It has become the thing to do for those who can. Personal buyers will find they are in a much larger pond than they might have imagined.
Investment in Apartment property has become huge and global.
The value of rented property went up by 42 per cent in the five years to 2012. And the prediction is that the capital worth of rented property will grow by 25 per cent by 2017, and rents will rise by 24 per cent. So exactly where should you look, what should you buy, what are the factors?
Apartment real estate for sale to rent out
Because young couples priced out of purchasing need one-bedroom Apartments town homes to rent, smaller Apartments give higher profits on investment than bigger ones. Rented family houses have done less well (rental incomes are down 6.8 per cent since the peak) because commercial rental budgets have shrunk for businessmen jetting in with their families. By comparison rental incomes on one-bedroom Apartments townhouses have increased by 3.2 per cent since the peak, and on two-bedroom Apartment condos by 1.1 per cent. However in the last three months of 2012 there was an additional shift. Rents in the high life bits slowed while domestic areas began to increase.
Apartment homes for sale to "Buy Off"
Expect high-pressure sales strategies. Your pleasant apartment realtor will suddenly offer to throw in flooring, furniture and a price discount if you sign on the dotted line right away, but will expect you to have the deposit ready to turn over. All you have seen is a model and a showcase Apartment, which potentially is not like the one you will actually buy.
If you buy early into a development, you tend to do better financially.
Understand that Apartment properties for sale in new developments sell for more than their older alternatives but you are buying something more high tech, with improved services, a gym and assistant. It will be more lettable.
Apartment properties for sale for students
About 65 per cent of first-time buyers now buy with the assistance of their parents, particularly those lucky enough to have apartment properties bought outright for them. Sammy Davis, 18, got into college and ended up with a Apartment condo of her own. She wasn't provided any college accommodation so her parents started to examine the alternatives. They were staggered by the private rental costs. Rather than pay dead money for a space in a student house, they saw potential to make a investment as well as alleviate her of student debt. There are more and more students not able to receive student housing, so investing a little now in a student apartment could end up pay out much more than expected.