What makes an apartment hold its value for twenty years

Most buyers compare price per square foot and stop there. Twenty years later, the apartments that have kept their value are rarely the cheapest ones on that list. They are the ones that were planned well and looked after.

Start with the land, not the lobby

A marble lobby can be added in a weekend. A plot with two road frontages, clear title and proper setbacks cannot. Before anything else, ask to see the land documents and the approved plan, and walk around the block at 8 am and 6 pm.

• Access: two ways in and out, and a road wide enough for a fire engine
• Neighbours: what can legally be built on the plots next door
• Drainage: where the water goes in July

Look at the floor plate

The best plans waste very little. Corridors are short, every bedroom has a window to the outside, and kitchens and bathrooms are stacked so that plumbing runs straight down.

A good plan is one you can explain to your parents in a minute.

Ask who will manage the building

Lifts, generators and water pumps wear out. A building with a funded service charge and a named management team will look the same in year fifteen as it did in year two. One without it will not.

A short checklist

1. Approved plan and land documents seen in original
2. Structural design by a named engineer
3. Two lifts or more for buildings above eight floors
4. A written handover date with a penalty clause
5. A clear service charge and management plan

If a developer answers these five points without hesitation, the rest of the conversation is usually easy.