Tuesday, October 1, 2013

6 Tips to Consider When Purchasing Real Estate and Acquiring Apartments

The real estate industry moves in waves, and now, the wave of acquiring apartments is with us. When buying an apartment, you may need to know that there are many different kinds of houses on sale. Therefore, it might prove difficult to choose the premises to invest in if you have little or no idea what kind of property you want. The things to consider before acquiring an apartment include:

· The available facility

Find out whether the property is located close to important facilities such as shops, schools, hospitals, parks, public transport, gym, etc.

· Proximity to social amenities

When choosing apartments, it is important to consider whether the premise is located close to cafes or clubs. Determine the degree of passing traffic and find out whether it will be noisy particularly during peak hour. In case the noise affects your lifestyle, it may be important to find a different location. It is important to make arrangements for an inspection of the property during peak hour before making the decision to purchase the premises. In case you are affected by noise you may be better off avoiding apartments located close to bars, because people are likely to get drunk and in the process make noise.

· Maintenance charges

It is important to find out about the maintenance charges. The maintenance charges include the municipal tax, assessment tax, property tax, common electricity charges, elevator charges, water charges and hired help charges like security and garbage cleaner. Always make the effort to find out what is included in the maintenance charges.

· Security measures

You want to live in a safe neighborhood; therefore, you may need to determine the security arrangements in the location. Find out whether there are police patrols in the region or a police post in the location. It is equally important to know the security measures that are in place. Find out whether there are security cameras in the premises.

· The age of the building

It is advisable to find out the age of the building. Find out whether there are any facilities that need replacement or repair. It is advisable to seek for an engineer or architect report concerning the building before making the decision to purchase the property.

· The Balcony

It is advisable to purchase an apartment that has a balcony. You will enjoy the afternoon sunshine or the view from up there. Avoid properties that face the wrong way away from the sun or premises blocked by buildings near them.

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