A buyer’s guide to understanding community.

With people spending more time at home and less interacting in the workplace, community is more important than ever. This should be something every apartment buyer needs to consider.

Never underestimate the value of community…

A strong sense of community within an apartment complex can enhance safety and security, increase investment satisfaction and participation while contributing to improved mental health, well-being and reducing social isolation. Whilst it’s not easy to measure the feeling of community within an apartment complex on your first inspection, using the following tools will give you a better understanding of community before you buy into a body corporate.  

1. How many apartments? It can be difficult to create and maintain a good sense of community with a larger group, but it is not impossible…. I recently moved from a complex of 100 apartments to a complex of 8. What a difference that makes!

2. What is the ratio of owner occupiers? I’m not saying tenants don’t contribute to a sense of community but, owner occupiers are more financially invested and are likely there for a longer term rather than a fixed term lease. If you intend to be an owner occupier, avoid high volumes of hotel letting and Air BNB.

3. Design – An abundance of activity space and a community lay out that encourages interaction. I have seen some modern buildings offering express (non stop) elevator access to your penthouse level. No wonder they say it’s lonely at the top.

4. Amenities – Community gardens, organised events, group exercise etc are good signs of a community minded body corporate.  

5.  Speak to the current residents. Are they an owner or a tenant? Would they buy in the complex, would the owner buy another unit in the complex? Speak to the on-site manager.

6.   Body Corp records. It goes without saying. When buying into any community management scheme, you need to look at the records. Dig deep enough and you might even get an understanding of the personalities you’ll be living among.

If developers are maximising the size and density of the apartment complex, serious thought and investment needs to go into building a community. It’s time to start thinking about the value of community.

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