Whether you are buying standalone houses or apartments in Brisbane, the following few points should most certainly be part of your decision making:
First step: Put on the right hat.
Buying property is often the biggest purchase one can make. Nevertheless when it comes to property and investing, sometimes we have to look beyond putting ourselves in the middle of the picture. For example, if you are a winter person purchasing an investment property in sunny Queensland, it is quite okay that it doesn’t come with a fireplace. We’ve seen too many cases where buyers in the investment realm puts on the hat as if they are searching for their dream home. All in all, the balance in priorities for owner-occupiers should come down to things that can be improved, such as material finishings, tiling patterns and appliance brands, whilst investment properties buyers should be more focused on things that can’t be improved, such as floorplan layout, amenities, and location. As Acchoir’s hand-picked selection of investment properties aims to give more to the residents, you can be best-assured that you have made a good balanced choice.
Then: Look at Space and Size
Generous sizes and practical layouts should be the two key themes when it comes to determining the values of a property’s design. When it comes to space and size, Acchoir’s general rule of thumb is that each person should have at least roughly 50 square metres of residential space, so in theory a four-person family should be living in spaces of approximately 200 square metres. Using this principal, a quality two bed two bath apartment should have greater long term appeal if its floor area are at least 90 to 110 square metres. In terms of practical layout, the human eye tends to favour horizontal width. That’s why widescreen televisions are ever so popular. Putting this into practice, most of Acchoir’s own land developments have a wider frontage than other products in the market so that the house sitting on top will appear large and wide, rather than long and narrow.
Next step: Look at Location (ie. Access)
The traditional property phrase of ‘Location, Location, Location,’ forever stands firm as a golden rule, but what does it really mean? Let us decipher that for you. In the modern world, most countries are commonly designed in this top down fashion: Country (eg: Commonwealth of Australia), State (eg: Queensland), Region (eg: South-East Queensland), City (eg: Brisbane), Local Government (eg: Brisbane City Council), Major nodes (eg North: Chermside, East: Carindale, South: Garden City, West: Indooroopilly), Neighbourhood nodes (eg North: Aspley, East: Cannon Hill, South: Sunnybank, West: Sherwood).
With this in mind, the word location then becomes the word Access. In other words, ‘How long does it take to get there?’. Watch the word ‘Long’, instead of saying ‘Easy’. ‘Easy’ can be a relative thing but time is always universal. A good investor and home owner would then map those locations into travel distance and travel times. As a general rule of thumb, good growth properties in Brisbane should be within around 10 minutes drive or 5 km distance to Neighbourhood nodes, 15 minutes drive or 10km distance to Major nodes, and 30 minutes or 30km distance to the CBD. As most people would agree that well-paid jobs are more often located in the CBD and major centres, thus the shorter travel time and distance to the city and nodes the more appeal and value the property is to professional residents. Shorter commuting times to neighbourhood nodes and schools becomes a great benefit to lift the desirability of a property. Imagine a child living right next to the school and a child that needs to travel 30 minutes on the bus each way to get to and from home. What would an hour’s worth of extra study time every weekday translate to in terms of possibilities?
Savvy investors: Look at the percentage of owner-occupiers vs percentage of tenants.
It is important to face the fact that there are actually material differences when it comes to the mindset of owner-occupiers and the mindset of tenants. Good quality and well-designed properties should in theory allow the mindset of tenants to transform into a mindset of an owner so that every one will look after the property and surroundings. (Given that no sound person would tarnish their belongings on purpose, especially where that belonging in the form of a property is perhaps their most expensive possession.) Owner-occupiers tend to stay for longer at a place than tenants and so would offer more stability to the neighbourhood. This is proven in many prestigious suburbs across Brisbane (eg Ascot, Robertson) where it is often very hard to secure a foothold into the club. In a large development complex, it is often a sign that prices and valuations in the long term will be better off than others if the building has more owner-occupier buyers.
All the above should logically lead to: Growth. (and Happy Days).
Whilst everyone knows that there are no crystal ball and that the most accurate advice is always hindsight, there are still prudent ways into making better property decisions. Acchoir believes that equity is important but it’s not everything. There is a sense of humanity and common happiness to be found in every property decision. So feel free to get in touch, we like to hear how everyone goes through their property thought process.