A whole bunch more of us are going to be flying solo in the not-too-distant future, and one-bedroom apartments may well top our wish-list when it comes to living arrangements according to an article in Domain.
According to Australian Bureau of Statistics data, the fastest-growing household type is the lone-person dwelling, which is projected to grow by an average of 2.2 per cent a year, reaching 3.2 million households, or 28 per cent of all households, by 2031.
”We know that inner-city areas are in growing demand from Gen Y and that many of the most proven investment locations lie within a 10-kilometre radius of our major CBDs,” says the director of Metropole Property Strategists, George Raptis.
”However, it’s not just about the postcode; your apartment should be within walking distance of the amenities young people want to live near, such as shops, restaurants and cafes, and public transport.
You also need to seek out the best street in the neighbourhood, preferably one that’s quiet and tree-lined, and always avoid buying on busy roads.”
Raptis says to look for units in smaller complexes with a good floor plan.
”Many people think that a one-bed apartment will be boxy and uninviting, but if the layout is right, they can have as much if not more appeal than something large and imposing,” he says. ”Check that there is ample storage and, as a bonus, a balcony – these add square footage and therefore value to your investment.”