Moving from rented accommodation to a property that you own can be a daunting prospect and one that may require a great deal flexibility.
The fact is that your current rented apartment may have more positive features and a better location that the one you can afford to buy. So its time to get real, your first apartment may not be the one of your dreams and compromise is the buzz word to achieve your goal of home ownership.
It's now an undisputed fact amongst property experts that location should be higher on the agenda than the actual property. So if you had two identical properties and one was more expensive because the location was better it would be wise to stretch for the apartment in the best location
When searching for a new apartment always consider aspects of the home that won't or can't change i.e. try to ignore colour schemes and wallpaper.
Watch windows size and placement.
Buying a brand new home will mean energy efficient up to date windows. You can of course add and modify windows, but it’s not the cheapest change to make to an apartment. Ideally, look for a home with ample, well-placed windows.
Give me light!
This is a big one, yet it’s surprisingly easy to overlook when attending open houses. Once you have a few homes on your list that are strong contenders, make appointments to give them a second look at a different time of day. This will give you a fuller picture of what the light is like in the home.
Use your head, not your heart
Don't be afraid to walk away from a bad deal. There will be other properties, maybe even better ones. Remember that this is a financial transaction and that your terms must be met.
Negotiate as much as you can
You can use an agent to do the negotiating for you, but you can't be sure how hard they will push for you. As a buyer, you should feel in control and as though you have nothing to lose through robust
Don't let yourself feel pressured
Real estate agents are expert salespeople. They may get you to rush over to the 'perfect' property and urge you to make an offer before someone else snatches it up. If you feel rushed at all, then back away. Time is on your side.
Inspect the ceilings, windows and walls.
Is there any damp staining or discolouration on the ceiling — that could indicate leaks. Any signs of damp or mould on the walls? Do the windows’ timber frames show signs of rotting or leaking?
Run a finger down the window.
Any condensation? That could be poor insulation. On PVC windows, look out for cracking sealant around the frame.
Get a survey!
Lots of buyers rely on the bank or mortgage company to survey the home. These types of surveys are for mortgage purposes only and don’t investigate the full structure of a property. Its always good to pay for a survey to help stop nasty surprises. In fact if the surveyor does find something you could use this fact to renegotiate on price!
Location Location Location!
Buying an apartment in an area that is up and coming can mean creating equity in a home that will help you with your next move. Consider how close you are to transport links, shops and leisure facilities
Consider an apartment community with resort-style amenities, parks and shops which can come together to create a leisure lifestyle. Good examples can be seen as apts in Pleasanton CA
How much does the home cost to run?
As a new home owner you need to pay extra bills that you may have not been responsible as a tenant. Maintenance charges can be high and its good to learn if they are planned to go up.
Work out if you can cover bills such as municipal tax, property tax as well as electricity and water charges. Some buildings also offer security which is also paid by your money as well as a maintenance charge which is regularly paid once per year.
After one has made sure that all these facilities are provided make sure that the apartment comes with extra perks such as a free parking or you will have to pay some extra money for it. Having all of these factors in mind, buying an apartment is an easy process to do and not only will the purchase release you from the hassle of paying a monthly rent but it will also mark a great event in one’s life.