Buying an apartment in Kirra? The name alone isn't the value

A lot of buyers see the word Kirra in a listing title and assume it must be a good buy. Kirra is an incredible lifestyle location, but that assumption can get expensive if you stop looking there.

Not every apartment in Kirra deserves a premium price tag. Here is what we look at before we would put a number on one.

Look past the photos

When I assess a home, I am not just looking at how nice the photos are or how close it is to the beach. In an apartment, the building matters as much as the home you are buying.

• The health of the body corporate. How is the building being run, and what do the records show?
• The sinking fund. Is enough being set aside for what the building will need?
• Upcoming maintenance. What work is coming, and when?
• Special levies. Could one land soon after you settle? That belongs in your budget for the property as a whole, not just the purchase price.

Our guide to what to check before you make an offer explains how to get these answers.

Think five to fifteen years ahead

The next question is how desirable this apartment will be over the next five to fifteen years.

You might find two apartments priced very similarly. One has a better aspect, lower risk, stronger owner-occupier demand and better resale appeal. The other looks polished online but carries risks you have not found yet. On the portal they can look like the same opportunity. They are not.

Take the extra time

I will always spend that little bit extra time going through a whole property, inside and out, with a client rather than moving quickly on the wrong one.

Kirra is a fantastic market to buy in. You just need to know what to buy, what to avoid and where the true value sits. If you are looking there and would like a second opinion on a building, book a 30-minute call.