6 THINGS WORTH CHECKING
BEFORE BUYING A NEW APARTMENT
A great-looking development doesn't necessarily make a great purchase.
Here are six things we consider before recommending one.
The Developer:
Who is actually delivering it?
01.
A strong concept means little without the right team behind it.
We look at who's developing, building and funding the project, what they've delivered before, and whether their track record gives us confidence in what they're promising today.
Worth asking: What has this developer completed before?
The Location:
Not just where. What surrounds it.
02.
Two apartments a few streets apart can be very different propositions.
We consider what's there today, what could be built tomorrow, walkability, aspect, surrounding amenity and how difficult the location will be to replicate.
Worth asking: What can be built around this property in the future?
The Apartment:
Would you actually want to live there?
03.
Square metres only tell part of the story.
Floor-plan efficiency, natural light, aspect, privacy, storage, bedroom separation and usable outdoor space can matter far more once you actually live there.
Worth asking: Would this floor-plan still work for me if I lived here for the next ten years?
The Price:
Good property can still be a bad purchase at the wrong price.
04.
Price only makes sense in context.
We compare it with competing new developments, recent sales, apartment size, position within the building and the quality of what you're actually getting.
Worth asking: How does this price compare with genuinely comparable new apartments?
What Comes Next:
Today's outlook isn't necessarily tomorrow's.
05.
Future development matters.
Surrounding sites, planning controls and upcoming supply can materially change an apartment's outlook, privacy and desirability.
Sometimes what isn't built yet matters just as much as what is.
Worth asking: What significant development sites exist around this property?
Enduring Appeal:
Will someone else want it one day?
06.
Even if you're buying a home for the next 20 years, eventually someone else may need to want it.
Scarcity, aspect, location, good design and genuine liveability are difficult to manufacture and tend to remain desirable long after the marketing campaign is gone.
Worth asking: If I needed to sell one day, what makes this apartment more desirable than the alternatives?
These are some of the things we consider before recommending any new development.
But ultimately, we ask one simple question:
Would we confidently recommend it to our own family?
If not, we won't recommend it to you.
That's the Nikko Standard.