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When it comes to buying apartments, age matters. Start your homework with these expert tips.
Apartment hunting can be a thrilling experience. There’s nothing like a beautiful terrace with a view or a warehouse conversion to get the imagination racing. But before signing on the dotted line for that stylish Art Deco or inner-city unit, you need to pause and consider ‘age before beauty’ – because when you buy an apartment, you’re also buying into the building.
Unlike a house purchase, apartments are intrinsically linked to the age of their complex, and the wrong choice can have a significant impact on your plans, lifestyle and hip pocket. For example, a heritage building may make renovations difficult or impossible – while a modern complex could have issues with soundproofing from lighter construction materials. Daniel Watts, director of Rapid Building Inspections, says it’s important for prospective buyers to be aware of the specific considerations for apartments and then do due diligence before signing on.
This includes having a checklist ready before a building inspection.
“Apartment buyers should ask for any existing warranty and certification documents such as waterproofing, electrical, smoke alarms, energy and water efficiency,” Daniel says.
So, what should apartment buyers be looking for when it comes to their building’s age?