In Conversation with Beckett Property

When a client tells you they’re looking to buy an apartment, what’s the first thing you ask them? 
What are their medium to long-term plans, and does the apartment they want to buy meet these goals? 

In your experience, what are the most important features buyers should prioritise when choosing an apartment? 
The quality and structure of the building. They need to understand room dimensions, especially if they work from home. How many bedrooms and bathrooms will give them the best longevity. Natural light, an outdoor area, and a car park are essential. Drive past previous buildings by the developer and builder to understand how they look after settlement. Conduct all required due diligence through the Owners Corporation, and see how they manage other buildings. 

What advice would you give to a first-time buyer trying to balance lifestyle wants with investment potential? 
Buy a property that ticks as many lifestyle boxes as possible, but also qualifies as an A-grade investment. I believe it is better to have a quality property in a slightly cheaper suburb. For example, consider Malvern East over Malvern if it means getting a property that will have higher capital growth and future saleability. 

Have you noticed any changes in what apartment buyers are looking for in today’s market? 
Security has become far more important to homeowners in Melbourne and is the biggest shift I have seen in the past two years. 

Finally, what’s one piece of apartment-buying advice you wish more people knew? 
History. It is crucial to understand the history of the builder and developer and past issues with the building (if any). The Owners Corporation is a fantastic source to find this out.