Ten Things To Check Before Buying An Apartment

November 22, 2012

Tips & Ideas

Buying an apartment appears easy but is inevitably linked to numerous deciding factors. Apartments are different from stand-alone houses since neighbors are in closer proximity, with shared areas and limited space that can be exclusively yours. They may be easier to maintain and safer to an extent but in order to make a wise choice of an apartment, whether you are buying to live in or as part of your property investment nz portfolio, the ten things that must be seriously scrutinized include:

  1. Location of the apartment building – Apartments form part of multi-storey buildings, which must be ideally be at a respectable distance from the next one, so that you do not have people looking into your home. Open spaces for a few meters ensure fresh breeze, direct sunlight and brightness as well.
  2. Proximity to conveniences– Before deciding on an apartment it may be wise to check out how close it is to a market place, parks and public transport, eating joints and other public amenities. These also contribute to noise pollution in the vicinity despite the comfort of being within walking distance.
  3. Immediate neighbors- Apartments entail lesser distance from neighbors who are generally across the hallway, only a few feet away. The kind of neighbors will determine the ambience in the building, the noise and disturbance level and also the value of the apartment.
  4. Maintenance issues– The responsibility of keeping common areas clean and spruced up does not fall on apartment owners, but who exactly carries out these essential jobs must be clear at the outset, whether there is a body corporate, or a manager on duty and other maintenance staff on call.
  5. Expenses involved – Often certain expenses like paid parking, garbage disposal etc appear later and may not be charged at the time of sale of the apartment. Being clear about these recurring expenses facilitates provision for them.
  6. Facilities provided– Apartments that come with facilities like a gym, health club, swimming pool, jogging track etc., are more attractive and it makes sense to look at the price charged for these as against what would have to be paid elsewhere for these facilities.
  7. Elevators and stairs– Apartments on higher floors must be accessible not just by elevators, but a staircase as well for emergencies. Elevators must be well-maintained and regularly serviced to ensure safe functioning.
  8. Security systems– Building security is always of utmost concern. Limited access, security services and scrutiny of visitors are some of the essentials that must be in place.
  9. Quality of materials and fittings– Before investing in apartment, it is advisable to check the quality of fittings and the material used, whether renovations are carried out in detail or just superficially, and how well the systems work.
  10. Green surroundings– Instead of living in a concrete jungle, it may be preferable to live in a greener locality with patches of green, plants and trees that make the locality aesthetically appealing and peaceful.

The vendor of the property will always paint a rosy picture which may highlight only the positive benefits, and conceal any flaws and drawbacks. A well-researched investment always ensures getting good value for hard earned money.

For further reading from PropertyTutors.com, click on the articles below:

Setting Goals for Financial Independence – click here

Tips for Becoming a Property Expert – click here

Buying Rules for Property Investment – click here

5 Tips to Add Value through Renovation – click here

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