As demographics and life styles change, investors are now realising that ground floor apartments make a great investment property. It was only 10 years ago that generally we’d find the least attractive units for investors in a development were on the ground floor. Usually they were reasonably priced and had a larger area due to a small courtyard but the general impression from buyers and sellers was that renters prefer not to be on the ground floor.
With extra space, ground floor apartments make a great investment property
The ground floor apartment was often felt to be too noisy with not enough privacy and of course, being on the ground floor, they were ‘easy’ to break in to so security was a concern! The security issue always had me wondering in a modern apartment block. It struck me that the security on a ground floor unit, with a common locked door to enter through before reaching the entrance door of the unit, always seemed a lot more secure than the average house and land where many of the property investment buyers had lived happily with no security problems for many years!
Ideas have changed dramatically in the last few years and we now find that ground floor units are often the first to sell in any reasonable apartment development. They are becoming top choice for an ageing population and more people looking for a mid-point between a unit and a house as rising house price inches the backyard dream further out of reach. Also, moving in to a smaller apartment with a courtyard gives the renter or owner-occupier more space and it is very likely to be designed to offer an additional outdoor room.
The younger Gen X and Y, choosing to live in a more affordable unit rather than the traditional house with garden, enjoy the easy access for their larger sporting equipment like golf clubs or surf boards, or even more importantly, a place for a pram, particularly secure where a baby can sleep in the fresh air. Of course, the fact that the lift may break down now and again makes the ground floor even more advantageous. In some developments, we are seeing the ground floor units becoming not only the largest in the development but also the most sought after and certainly more expensive than the penthouse!
The ground-floor apartment with a courtyard that is secure and quiet is now a particularly attractive and scarce property investment. It’s something to look for in your portfolio, not something to avoid, ground floor apartments make a great investment property! Read more http://goo.gl/TT7JhA
