There are many types of properties one can invest in and it need not necessarily be a house always. Nowadays, the most common purchases done by people are on individual apartments and the same gets rented to earn some additional income. Units or apartments can be renovated without any concern, but there are certain rules and regulations that one needs to focus on when it comes to shared properties. Before purchasing a property, you need to consider some of the important aspects that have been discussed below.
If you have planned to buy an apartment for investment purpose, there are certain things you should look out for in new properties before you make a deal. It is important to choose a unit which has some of the best features like thermal features and good plumbing which indeed can be tricky for implementation after purchase. You should check the sustainability rate of the property before you choose to buy it. You can seek help from a quantity surveyor who can do cost planning and cost estimation of the new property that you are keen to purchase.
Know the body corporate
In addition to seeking help from a quantity surveyor, it is also important that you have a discussion with the owner of the building to get a clear idea of the improvements. Avoid purchasing a property if it is under a body corporate that is conservative as there are high chances of delay and may oppose all your ideas on renovating. Visit this link http://summitqs.com.au/ for more details on quantity surveyor.
Get all the necessary approvals in writing
Alternatively, choose a body corporate that is more focused on growth and sustainability. However, if you already have an idea of some of the changes that you would like to make, you can express your ideas to figure out the reaction from the body corporate. It is always good to get an approval in writing to make the process faster soon after purchase. Look for the approvals for renovation given in the past if any. This helps in understanding how the previous transactions were made.
Check the design features to get changes done
Besides these legal formalities, you should also focus on other factors like the design features such as the window glazing and enhancing the natural sunlight, water tanks, cross ventilation and more. Make a note of these changes or renovations you would like to get it done before you purchase the property. Once you have these things ready and clarified from the body corporate, you can proceed with the buying formalities without any issue. These are some of the tips for renovation an investor should be well versed with before he purchases a new property for personal or commercial use.