Apartment Living – On Trend
The large house in the ‘burbs’ is no longer ‘on trend’ – that’s the reserve of ‘Apartment Living’. It’s taken some time but finally Apartment Living is all the rage and it’s intergenerational too. Living a stone’s throw from work, entertainment and services is sought after by students, workers, families and retirees alike.
While there’s less space in Apartments, the upside is less housekeeping and less desire to ‘fill up’ rooms. Apartments are also more affordable and usually benefit from a central location so there’s no need for a car reducing your carbon footprint.
Living in an apartment doesn’t mean you need to forgo outdoor living. There are plenty of apartment complexes with a swimming pool, gardens, and a gym. While the quarter acre dream has well and truly gone for many – you can definitely get your slice of heaven albeit it a small slice with an apartment and we know it’s trendy with our Prime Minister Mr John Key suggests home seekers look seriously at Apartments!
Auckland Apartments are rising in value along with standalone properties but they are rising more in alignment with usual property value expectations of 7 – 10 percent.
By contrast properties in Auckland have risen nearly 40 percent in recent years placing them out of reach for first home buyers and immigrants to the region.
Active investor and mentor Grant Hoey is probably the most experienced around inner Auckland. He has assisted many home buyers into apartments for investment and owner occupation. Grant’s years of experience buying, selling and mentoring is shared once a year in a seminar called ‘Cashflow Apartments’. This is a must attend event.
While apartment living is on trend right now it was once the ‘ugly duckling’ but even in those days the apartment market had huge potential. Apartments are no longer the shoeboxes of yesteryear. They are of a much higher quality with more space yet many on the market are tired and with a makeover can provide a tidy profit.