Off the Plan Apartments in Perth
An investment in an apartment also allows you to purchase in a popular suburb, which will be highly desirable to the rental market.
Investing in an off the plan apartment (one which is not built yet) is a great option to give you a bit more time to get your finances sorted as most developments only require a 10% deposit to secure the contract, allowing you to use the construction period to save.
Apartments can provide a regular and dependable income stream if you are looking to invest-to-rent and if buying off the plan, the apartment will be brand new meaning less maintenance costs. New apartment builds are often more energy efficient too, which will be an attractive feature to renters as it means utility bills can be less expensive.
Australia’s changing demographic also lends itself to apartment life. There are more single and two-person households than ever. Home security and the proximity to the CBD, entertainment and shopping precincts as well as sporting amenities are high on their list when looking for somewhere to rent, which is something apartment developments offer. The wide range of apartment floorplans can also cater for shared tenant rentals and downsizers.
Buying Off the Plan
Apartments can offer an affordable entry point for both first time homeowners and investors. When buying an off the plan apartment, you sign a contract to buy what you want before the complex is built, then normally wait about 18 months before moving into your brand-new apartment. The developer will be able to talk you through all the details of the project, with 3D illustrations, so you can be confident of what you are buying without actually being able to see it.
Buying off the plan means the apartment will be brand new so for several years you will have minimal maintenance costs. New apartment builds are often more energy efficient too – look for developers building to sustainable industry standards including clever use of solar power, re-charge stations, bike lockers and easy access to public transport.
Home security and the proximity to the CBD, entertainment and shopping precincts as well as sporting amenities are normally something apartment developments offer. Buying off the plan, also means you have access to a wide range of apartment floorplans, so you can get something to exactly suit your needs.