Apartment buying guide for 2025: Find your perfect place!

With space at a premium in Australia’s major cities, apartment living has become increasingly attractive. Whether you’re a first-time buyer or an investor, apartments offer affordability, convenience, and proximity to amenities. However, buying an apartment comes with its own set of unique considerations. Here’s an updated guide to help you make an informed decision in 2025.

1. Does it offer adequate parking and storage?

Parking spaces remain a critical factor in apartment buying. For many, having at least one parking spot is essential, especially in areas with limited street parking. Keep in mind:

• Costs: parking spaces might not be included in the purchase price and can be sold separately.
• Accessibility: consider whether you need a secure, covered, or conveniently located spot.

In the era of compact living, smart storage solutions are vital. Look for:

• Built-in storage: cupboards, cabinets, and wardrobes that optimise space.
• Extra storage: many apartment complexes offer additional storage units, but these may come at a premium and are often in high demand.

2. Is the location right for your lifestyle?

Location is everything, especially for apartment living. With less space at home, residents rely more on nearby services and amenities for convenience and recreation. Easy access to essentials helps compensate for limited indoor and outdoor space, and for those without a car, public transport is key.

Key factors to keep in mind:

• Proximity to essentials: supermarkets, cafes, public transport, and medical facilities within walking distance.
• Lifestyle needs: parks, gyms, and entertainment options for a balanced lifestyle.
• Future growth: suburbs benefiting from infrastructure upgrades or urban renewal projects may offer better long-term value.

3. What are the shared expenses?

Modern apartment buildings often feature shared facilities like pools, gyms, and rooftop gardens. While these amenities are attractive, they come at a cost:

• Strata levies: higher levies often accompany premium amenities.
• Usage frequency: consider how often you’ll actually use these facilities. If alternatives nearby are more cost-effective, the added expenses might not be worth it.

4. Are there planned developments nearby?

To ensure your apartment’s long-term value and liveability, research potential developments in the surrounding area:

• Impact on views: new skyscrapers could obstruct prized views.
• Construction disruptions: noise and dust from nearby projects could affect your quality of life.
• Local approvals: check with council planning departments for details on approved developments.

5. Who lives in the building?

The demographic and occupancy rates of a building can influence its desirability:

• Owner-occupier ratio: higher owner-occupancy often signals better maintenance and community atmosphere.
• Vacancy rates: high vacancy rates can indicate a less desirable building. Speak with current residents to get an idea of occupancy levels and tenant demographics.

6. Who manages the building?

Professional management is key to maintaining the value and condition of your investment. Evaluate:

• Reputation: research the track record of the building’s management company.
• Resident feedback: speak with existing residents about their experiences with the building manager and strata committee.

7. Are there any hidden costs?

Before committing, ensure you’re fully aware of all potential expenses:

• Body corporate minutes: review these to identify ongoing disputes, pending capital works, or financial concerns.
• Legal advice: have a solicitor review the strata plan and associated documents to uncover hidden issues.

8. Sustainability and energy efficiency

In 2025, sustainability is more important than ever. Consider:

• Energy efficiency: apartments with solar panels, energy-efficient appliances, or high insulation ratings reduce living costs.
• Green spaces: communal gardens and green rooftops add to the building’s environmental credentials.

Ready to buy?

Purchasing an apartment is an exciting step, whether it’s your first home or an addition to your investment portfolio. By taking these factors into account, you can make a confident decision that aligns with your lifestyle and financial goals.

Need help financing your apartment purchase? The friendly team at Nectar can offer no-obligation assistance and help find the sweetest home loan for you.

Get in touch today to start your journey!