Eleven things you should know when buying an apartment
After spending years in renting business, you finally realise it’s about time you stop throwing money on rent every month. Now there’re two choices, either you buy a house/villa or apartment that’s much more affordable! Apparently, you’ll go with the second option so today, we’ll show you how to land your very first apartment including valuable tips and tricks. Following these would allow you to avoid any unpleasant surprises and plan careful investment.
- Decide the area first where you wish to buy and it’ll take time as well as thorough research thus avoiding any discrepancy along the way.
- Carefully research the market to ensure you’re getting maximum return on investment; means landing on the best property at a specific price. For this, you need to have a meeting with various property owners, real estate agents and awareness over recent listings. Keep it on priority if you’re buying off-plan property.
- Widen your search as much as possible to get the best property and value over investment. Be careful with surrounding area and potential neighbours.
Upon finding an apartment
- Carefully inspect the property to get most of what you require. Prioritise availability of public transport, hospitals, shops, recreational facilities, schools, basic utilities like water, electricity, gas so on.
- Also consider whether the apartment unit is close to noisy music venues, cafes or nightclubs. What about traffic flow throughout the day and how each of this affects your lifestyle! It’s better to question present dwellers or credible real estate agents.
- Interior, exterior and overall construction of the building holds prime importance. What if the inner walls have seepage stains, chipped paint, hollow filling and other major flaws that endanger a potential settler! Asides this, if apartment is swarming with roaches and other pests, it’s definitely no place to live. If you can, hire a home inspector who’ll look at these issues with a much closer eye!
- Interior space also matters as what if it’s too small for your entire belongings! Therefore one must carefully check total space for easy adjustment without any breaks and bends.
- Security measures shouldn’t be overlooked! How safe is the building, can anyone walks inside or is there a proper biometric system? 24/7 availability of security personnel at the main entrance, barricading, active emergency system lest a fire outbreak or any other threat.
- Does the apartment have balcony, a proper ventilation and flow of sunlight? Is your building cramped by adjacent constructions or somehow facing the wrong side? How’s cleanliness within and outside the facility?
- Ask about the monthly maintenance charges for you don’t want to overpay if lacking basic infrastructure and other facilities. Most people ignore this particular aspect and finish up overpaying. Consider municipal, assessment and property taxes, electricity, water, elevator and additional service charges such as garbage cleaning and security.
- Car parking charges may be charged separately so come clear with this beforehand. This may cover your vehicle along with additional charges for guests. Apartment maintenance crew may also involve taking care of your vehicle for which additional charges are accrued. When buying from a present owner who didn’t have a vehicle, request for parking slot access without additional charges.
Now, let’s say you’re planning to purchase Palm Jumeirah apartments for sale, carefully consider the above tips for flawless results.