Geelong Apartments For Sale
Today, buying a new apartment in Geelong is becoming increasingly popular due to the region going through an economic growth period of more affordable housing available to buy, so it comes as no surprise as to why more people are buying property.
If you’ve decided that buying an apartment building is a good option for you, the next step is to consider the type of apartment building to acquire. This involves examining your personal and financial criteria for the purchase, the number of units desired, understanding the class of apartments available for purchase.
Living in an apartment or unit instead of a house has its perks. Here’s some reasons you might want to consider the block life.
Apartment living can be much more cost effective than house living for both bills and rent. Heating and cooling a smaller area will save money on your gas and electric bills. The rent is usually much cheaper on apartments too, compared a house or a mortgage.
It can also be quite a sustainable option because with so many people living in close proximity it means that apartments retain heat from other apartments, which reduces the amount of heat you use in your own apartment. This means your winter energy bill will be much cheaper than if you were living in a house. The newer your building, the more energy efficient is likely to be.
If you have a problem in a unit that you rent, you can usually call the property manager and have someone else deal with the issue.
Gardening is another major factor to consider. Most units don’t have private gardens, only small balconies, which means that if you live in an apartment your weekends can be spent doing whatever you please rather than mowing lawns or planting bulbs.
Most units have several layers of entry. A main door, a side door or a fire door, then the door of your apartment. It’s more difficult for potential thieves to get access to your home in an apartment, particularly if your unit has a foyer or secure front entry system.
Unit blocks often come with amenities that you wouldn’t normally get if you rent house like gyms, pools, rooftop entertaining areas, BBQ areas, laundry rooms and secure storage cages. Having a gym and pool on site is really convenient and will save you money on gym membership fees.
As the rent is generally lower on apartments it means that you’re able to move around whenever you like without being tied to a house with a mortgage. You’re also able to afford to live in higher socio-economic areas that you may not be able to afford to rent or buy a house in.
Geelong Apartments Off The Plan
Thinking about buying an apartment off the plan? For many people buying a unit is a new experience with a sense of the unknown. There is often less pressure when buying off the plan and you may not be competing with as many other buyers for the same property. With an understanding of the basic steps involved, it can be quite simple to buy a new apartment that you will love.
Buying real estate ‘off the plan’ means committing to buying a property that hasn’t yet been built. For both potential home owners and property investors, buying off the plan can be more affordable and flexible than buying an existing property but also comes with other considerations.
There are many benefits of buying a new home off the plan.
- The purchase price can be less compared with an established property, as developers typically offer lower prices and financial incentives early on in order to secure the project, especially before construction starts.
- Typically you’ll only have to pay a deposit to the developer and then pay the remaining balance on completion of the property. This means you’ll have more time to save before settlement while the property is being built.
- Even though you may not have had to pay the full balance, your property may increase in value as it’s built, providing you with capital growth.
- There’s more tax depreciation available on new properties, meaning you can maximise benefits and improve after-tax cash flow.
- The earlier you get involved in buying off the plan, the more ability you may have to customise your property, including choosing the location and even the floor plans and finishes.
Depending on your state or territory, you should be protected by builders’ warranty insurance while your property is being built, which means certain structural or interior building faults that emerge within a certain timeframe must be repaired by the builder.
In some state and territories you may be able to claim exemptions or concessions on stamp duty, and there can also be certain tax deductions for property investors.
Buy An Apartment Geelong
If you wish to buy an apartment in Geelong or elsewhere in a premium, managed complex, we usually have a range of bed and bath mixes across our several buildings. We can usually be quite flexible on when we show you units as we have staff in the buildings 24/7.
Choose from a one bedroom with separate bath and shower, or a two bedroom/two bathroom furnished apartment. All our furnished apartments have fully equipped kitchens, bathrooms and living/dining area. We offer a complete and tailored solution when it comes to finding your perfect apartment, we look after our customers and you only need to deal with the one organisation.