The Auckland apartment market is growing (currently we have over 20,000 plus apartments in the city) and yet every month we are offered more options to buy.
Is it time to review the pros and cons of moving into an apartment or not?
Key questions you should ask yourself:
If I was to downsize from the family home and move into an apartment — could I keep the family home and rent it out? What would the rent be and whom should we use to manage the home?
What if I sold the family homeand with those funds could I buy maybe one or two apartments and also have enough to buy another townhouse or apartment for myself?
Or maybe I move into the holiday bach and rent out my new investment apartments/townhouse or home?
Apartment living is all about location, location, location — you are moving into the city or its fringe, and therefore you have easy access to public facilities like library’s, art galleries, town hall, theatre and public transport.
Your apartment can be more affordable — even with a body corp fee to pay. Gone is the maintenance of the home, gardens, insurance, and maybe the removal of the balance of the mortgage? This can mean you have funds left over to live your life as you desire?
Lock up and leave. Travel has never been more affordable than now — so with the ability to lock up and leave — you have the opportunity to just leave knowing that there is a building manager whom you can contact if needed — and will also take an interest to make sure all is well whilst you are away. Escape the weekend or head overseas you have choices — especially if you have downsized and now have some surplus funds.
Choices in apartment facilities — always wanted a heated pool, spa, sauna or gym? Choose an apartment that will supply what you want — and share the cost of running these facilities with the apartment owners. It’s great when you don’t need to leave home to these wonderful facilities on your doorstep.
Share the costs — yes you have a body crop which runs the complex and it is wise to be involved and show an interest in how it works. The advantage is you have getting likeminded people sharing the decision making and helping to keep a well maintained building — your new home
Opportunity. Apartment living gives you a chance to review how much of your money will be invested in the family home. Should you take some of that equity and make it work in either an investment home/apartment or townhouse — or do you just use to travel and see the world?
If you are looking at property management of your investment, please consult Quinovic Parnell or Quinovic Viaduct whom have proven systems and reputation of a high level of customer care and return for your investment.