Are you one among many who live in rented apartments? Planning to buy an apartment off late? In any case, you are looking to buy an apartment for the very first time; there are a few things that one should always check to ensure the unit is investment worthy and avoid any surprises post-purchase. Here’s a rundown on a handful of expert tips to get you going.
The background check
The first step towards buying a new apartment is to run a background check about the area. This calls for some quality time that needs to be spent and might sound a little passé, but it’s worth it in the long run. Another step is to run market analytics to know about the current stand of real estate so that you get the best value for your money. Approaching independent valuers along with local real estate agents would be a good spot to start to have a rough estimate of the sales tariff. This is all the way applicable if you are looking to buy a property that is off the plans. Apart from checking on the property papers, this is an important step to take into account.
Getting the basics right
So, you have made up your mind to buy a specific apartment that fits your budget and taste. Wait! Before you go ahead with your booking, run a check across a basic list of necessities. Like the hospital, drug stores, banks and ATMs, school, gym and access to public transport. Find out whether each one of these is in close proximity to the project as in the long run this shall save you both time and money. The other thing that you need to check out is the locality. Is the neighborhood safe and secure? Are there any reported incidents of theft or robbery in recent times? What’s the noise level like during the peak hours? Does it affect your preferred lifestyle or daily routine? Imagine having your apartment placed close to a local bar. Scenes like daily ruckus and drunken brawls will surely be a common sight and hence an unpleasant one for one and all.
Knowing your place of stay
Even after if you have run a check on the basics about the area and the project, there remain some ground level checks before one can zero on his purchase decision. Security no matter what is a matter of paramount concern. Check whether the project has security cameras in place to record daily episodes of walk-in and walk-outs to and from the building. Next thing to consider is the charge that one needs to pay for the general upkeep and all-around maintenance for the building. If you own a car, check whether the building comes with a free parking space or does one need to purchase one. Check with the seller to gain a clear understanding of the parking arrangement to avoid any issues in the future.
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