Checklist To Consider Before Buying An Apartment

Checklist for Buying An Apartment

Holding a property in your possession not only adds a lot of value to your asset but also brings immense pride to all the home owners. Individuals planning to make a property purchase are increasingly moving towards the apartment end as many perks follow the buyers. Current day apartments offer an exclusive mix of privacy while at the same time there is ample room to catch up on the chit chat with all the co-residents. Real estate is booming in the apartments sector & there are lots of points to consider before going to buy one. Here is a checklist that might come in handy when you are on your road for apartment hunt:

Location:

When you are weighing the options & mulling which will be the ideal location to look for your dream apartment, take two perspectives into consideration. Everybody will be attuned to a specific lifestyle & make sure that the location you consider fit the bill. Also look for the landmarks & connectivity it offers with the rest of the city. Purchasing an apartment in a central location is always a safe choice as it will offer a good resale value in the future, should a situation arise. Transportation facilities & traffic congestion in the area should also be analyzed.

Amenities:

A chosen apartment must offer every comfort for a buyer, both within & outside. Today, almost all the apartments are planned & constructed with amenities to satisfy urban families in every way right from swimming pools to club houses. But this is not enough. An apartment should also offer good access to all the amenities from outside. Access to external amenities is closely associated with the locality of the project. Ensure that you do not compromise with any of the required internal amenities that comes with the apartment & see to that that you are in good reach to all of them from outside.

Title Search:

This will reveal the reputation of the builder. There is no meaning in making an investment if the prospective home does not hold a reliable title. You will have to tread cautiously here as this will most probably be one of the major investment in your entire life. Search for the legal registration of the property with the location & make sure that you are making a safe investment. Do not hesitate to take the help of real estate professionals or of friends & relatives who have made property investments before. A close guidance at such important times might turn out to be a blessing in the long run.

Parking:

Explore the cost packages, privileges associated & make a comparative analysis with the other shortlisted apartments in hand. If you own more than one vehicle, ensure that there is enough space allocated & that it is not shared with anybody else. Do not make the mistake of pushing to check the parking details till the end. Even if all the other criteria fit in place & the only hanging issue is parking, the apartment you are considering has to be given a second thought.

Rules & Regulations:

It is important that you hear this out with open ears. Our beloved landlords show a special something for this side of home buying. Make your seller pour out all the x & y to do’s & don’t do’s so that you are aware & in term with all of them. If you find that there are too many restrictions or is not comfortable with some of the rules laid out, then voice it out to the seller clearly. If they are willing to lend ears to your genuine queries & bend the rules some, all for good. If not, then think in terms of the long-term prospects & your happiness quotient & make the right decision for yourself. Also, make a comparison with the costs & rules penned.

Association Fee:

Another area to be explored before signing an agreement. Your budget might get affected if the HOA (Home Owner’s Association) is cut off at a higher range. It is essential that you enquire about the association fee beforehand & the benefits that come with it to know & plan your finances. HOA charges are usually high for a condominium purchaser. If you have an expert or knowledgeable person in the field to back you up, then you might be able to reduce unreasonable charges of HOA. Good sense about the real estate sector & support by your side will help you avoid unnecessary financial stress.

Floor Choice:

Choosing the right floor to move in has to be given due thought. If you possess many heavy furniture & home decors, then it might become a problem to carry it up and down for future shifting processes when the situation arise if you opt for top floors. Also, top floor might not be a comfortable option if you have elderly members staying with you. On the other hand, if your apartment offers scenic view of the surrounding landscape, then higher the floor, better the view. In addition, top floors provides more privacy. So, think it out & decide what will suit you the best.