How to work out what to offer on a beachfront apartment

If you are looking at a beachfront apartment in Coolangatta or Rainbow Bay, how do you know what to offer? The asking price will not tell you. These three comparisons will get you much closer.

1. Compare recent sales like for like

Start with recent sales in and around the building. Make sure the ones you are comparing are of a similar age, aspect and build type.

Finishes matter too. A brand new renovation and an original apartment can sit in the same building and sell at very different prices, so adjust for that before you read anything into the sale price.

2. Look at the price per square metre

Units are typically priced with their size in mind, so work out the rate per square metre for each sale. It makes two apartments of different sizes much easier to compare.

3. Be honest about the view

A full ocean view and a view down a corridor between two buildings are very different things, and the degree of view can have a big effect on price. When you compare sales, make sure the views really are similar to the apartment you are looking at.

Then look at the building

Two apartments can match on all three and still not be worth the same, because the building behind them may be in very different health. Before you commit, read what to check before you make an offer.

If you would like us to appraise an apartment you have found, that is exactly what our Appraise and Negotiate service is for. Book a 30-minute call.