Advise on what to look out for when purchasing units...

[sutnorinvest]

Hi,

We're first time investors and have decided we'll probably look for a unit within a 8km radius of either Melbourne (most likely), otherwise Brisbane or Hobart. I was just after some advise on the important things to look out for when purchasing a unit? At this stage we're looking for smaller, older blocks, no more than 3 levels, no more than a dozen units in the complex, potential to add value ... what else do we need to be wary of for this type of property?

Thanks in advance for any advise!

Sutnorinvest

 

[Propertunity]

Just a few things:
Top floor (if you can afford it)
Avoid ground floor (security issues)
Internal laundry
2brm
Balcony - check privacy
Garage or car space (as a minimum) - unless it is Art Deco, which often do not have car accom.
800m walk to train (1.2km absolute max)
Always do a strata search to check on admin & sinking fund balances