Let me ask you a blunt question.
When you look at an off-the-plan apartment in Brisbane, how do you know whether you’re looking at a genuinely strong opportunity…
Or simply a very good brochure?
Because every brochure looks impressive. The kitchens sparkle. The rooftop pool looks magnificent. And the projected numbers usually behave themselves beautifully.
But brochures are designed to sell the property. They aren’t designed to show you what could go wrong.
I bought my first property at 19. I’ve reviewed hundreds of apartment projects since. And the lesson hasn’t changed: research first, emotion second.
So here are the 20 checks I make before I’d recommend an apartment to a client — or buy one myself.
Why off the plan is different
When you buy an established apartment, you can walk through it. Check the water pressure. Knock on the neighbour’s door.
Off the plan, you’re buying a promise. A set of drawings, a price list and a completion date.
The Queensland Government’s own guidance on buying off the plan lists the main risks plainly: you can’t see the finished result before you buy, there can be building delays, the market can change between signing and settlement, and contracts can contain clauses allowing them to be cancelled. It also strongly recommends getting specialist legal advice before you sign. (Queensland Government)
I agree. And I’d add one more thing: a good contract doesn’t fix a bad apartment.
That’s what the 20 checks are for.
How to use the checklist
Keep the brochure, price list and floor plan open. For each check, give the property one of three marks:
- Green — strong evidence
- Investigate — more information needed
- Red flag — serious concern
Then tally up:
- 16–20 green: worth investigating further
- 11–15 green: important questions remain
- 10 or fewer: don’t proceed without substantial further investigation
You may decide to buy. You may decide to walk away. Either could be the right call.
The goal is to decide with your eyes open — rather than your fingers crossed.
Part 1: Growth potential (checks 1–7)
1. Long-term capital growth
Look at about ten years of apartment growth in the suburb. Not just last year.
One boom year can be an aberration. A longer history tells you whether demand has held up through good markets and bad.
As my own internal benchmark, I generally like to see something around 6–7% average annual growth or better. That’s one indicator, not a guarantee. Past growth is not a promise of future growth.
Red flag: the sales pitch talks about one great year and goes quiet on the rest.
2. Supply and demand
Compare buyer and tenant demand with how many apartments exist — and how many are coming.
And be specific. Twenty luxury three-bedders up the road aren’t really competing with your one-bedroom. Twenty identical one-bedders completing the same month absolutely are.
Red flag: several similar buildings are due to finish at roughly the same time.
3. Demographics
Who actually lives in the area? Who’s moving there?
Young professionals want transport, cafés and an easy commute. Downsizers want space, storage, security and a doctor nearby. Families want bedrooms, parking, schools and parks.
The apartment should match the market — not just the brochure.
Where to check: ABS community profiles and council population forecasts.
4. Potential for gentrification
Look for real evidence an area is improving: transport, parks, retail, hospitals, universities, employment projects.
Real means funded, approved and dated.
A press release, an election promise or a “proposed” project is not the same thing as a crane on site.
Red flag: the whole investment case rests on vague future plans with no funding or delivery date.
5. Future development nearby
New development can bring better shops and transport.
It can also bring traffic, noise, ten competing towers and a large building directly in front of your view.
Not all development is good development. You need both sides of the ledger.
Where to check: council planning portals, zoning maps and development applications.
6. Economic indicators
People move where they can find work and afford the lifestyle.
A diverse local economy — health, education, government, tourism, construction, professional services — is generally more resilient than one that leans on a single employer.
Red flag: most local jobs depend on one company or one struggling industry.
7. Resale value potential
Ask yourself: “If I had to sell this in five or ten years, why would someone choose it over the alternatives?”
Good answers: a better layout, a protected view, a great position in the building, genuine scarcity.
A weak answer: “it’s cheaper than the others.”
Cheap is not always value. Sometimes it’s the market quietly telling you something.
Part 2: Developer and construction risk (checks 8–12)
8. Developer background
What have they actually built? Go and look at a building they finished several years ago — not just the display suite.
Check the company’s history. A trail of failed projects and constantly changing company names is worth understanding before you hand over a deposit.
Red flag: little relevant experience, no comparable completed buildings, or a complicated history.
9. Builder reputation
The developer sells the vision. The builder has to turn it into a building that doesn’t leak, crack or start falling apart before the removalists arrive.
Check the builder’s licence, history and completed work.
Where to check: the QBCC licence search in Queensland, and buildings they’ve completed.
10. Construction timeline and risk
A launch date is not a construction start date.
Ask: when will construction realistically start? Are there presale or finance conditions that must be met first? What’s the realistic completion window?
Delays can affect your plans, your expected rent and your ability to buy the next property.
This matters in Queensland because the 2023 sunset-clause reforms that restrict developers terminating off-the-plan contracts apply to land, not to most community titles schemes such as apartments. (Queensland Government) Read that clause carefully — with your solicitor.
11. Architectural design and quality
A well-designed 75 square metres can live better than a badly designed 90.
Don’t be distracted by expensive-looking tapware while ignoring a bedroom that barely fits a bed.
Red flag: the furniture on the floor plan looks suspiciously small.
12. Environmental considerations
Flood, bushfire, road and aircraft noise, contamination, insurance costs.
And remember: your apartment might sit well above flood level while the basement, lifts or access road do not.
Where to check: council flood and hazard maps, insurers and your solicitor.
Part 3: Your cashflow and real costs (checks 13–17)
13. Rental yield
Get at least two independent rental appraisals from local property managers — not just the developer’s number.
Then look at both gross yield (rent before costs) and net yield (what’s left after ongoing costs).
The advertised weekly rent is not the amount you keep.
14. Strata fees and outgoings
Pools, lifts, gyms and concierges all cost money to run.
A suspiciously low body corporate estimate looks great in the brochure. It looks less great in year two.
Compare the proposed budget against similar completed buildings.
15. Tax considerations
Talk to a qualified accountant about your own situation. I’m not going to tell you what you can claim.
What I will say: tax should never turn a poor property into a good one.
Losing a dollar to get part of it back is not a wealth strategy.
16. Vacancy rates
Check the current vacancy rate and how it has moved over time. Then check how many similar rentals are about to hit the market.
Red flag: your plan relies on uninterrupted rent, but vacancies are rising and a wave of new stock is coming.
17. Owner-occupier ratio
Buildings with strong owner-occupier appeal tend to broaden your future buyer pool.
Red flag: nearly every apartment is small, identical and sold mainly on rental or short-stay projections.
Part 4: Location and lifestyle (checks 18–19)
18. View permanence
Don’t assume a view is protected because the land in front is vacant today.
Find out what can legally be built there.
If you’re paying a premium for the view, you’d want to know it’s still there in ten years.
19. Proximity to essential amenities
“Five minutes away” can mean five minutes by car.
Walk the route yourself. A major road, a steep hill or a dodgy crossing makes a short distance feel long.
Part 5: Market and timing (check 20)
20. Market cycle position
Is the local apartment market recovering, growing, approaching a peak, slowing or declining?
Nobody can consistently pick the exact top or bottom. I certainly can’t.
The aim isn’t to time the perfect day. It’s to avoid overpaying for the wrong property because everyone else suddenly looks excited.
Red flag: the main reason to buy is urgency, FOMO, or someone telling you prices can only go up.
What to do after the checklist
Tally your greens.
If you’re at 16 or more, it’s probably worth a closer look — with your solicitor reviewing the contract and your broker and accountant looking at your own situation.
If you’re below that, you’ve got questions to answer. Ask them. A good project can handle hard questions.
If no one can answer them, that’s an answer too.
Frequently asked questions
Is buying off the plan in Brisbane a good idea?
It can be, and it can’t be — it depends entirely on the specific apartment, developer, contract and your own situation. That’s why the checklist exists.
What are the biggest risks of buying off the plan?
The Queensland Government lists not seeing the finished product, building delays, market changes before settlement and contract termination clauses. Get specialist legal advice before you sign.
Do sunset clause protections apply to apartments in Queensland?
According to Queensland Government guidance, the November 2023 reforms limiting sunset clause terminations apply to off-the-plan land contracts and do not include community titles schemes such as apartments. Have your solicitor check your contract.
How do I check an off-the-plan developer?
Look at completed buildings, company history and the builder’s licence and track record. Visit something they finished years ago.
Can you give me financial or tax advice?
No. I’m a licensed real estate agent, not a financial adviser or accountant. Speak to a licensed professional about your own situation.
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And if you’d like to talk through a project you’re looking at, book a free discovery call.
No pressure. Just clarity.
— Ian Marsh, Winning Edge Real Estate
FULL DISCLOSURE: If you buy a project I recommend, the developer pays me a commission. Yep, I get paid. Shocking, I know.
But most projects never make it past my 20-point check, so you only ever see a select few. Forty years of reputation is worth more than one dodgy tower with a rooftop pizza oven.
DISCLAIMER: I’m a licensed real estate agent, not a financial advisor. My only qualifications are investing since 19, building a multi-million-dollar portfolio, and founding five multi-million-dollar companies. Apart from that… I know nothing. 😉 Do your own research and get independent financial advice.
No pressure. Just clarity.