Monday, April 23, 2012

Checklist for buying a home!

If you have spent sometime in your rented home, you’ll realise that you should stop throwing away money on rent month after month, and buy a house or an apartment for yourself.If you are planning to have your first apartment, there are a lot of things which you should consider to make it perfect!
  • Decide the locality
  • Decide the budget
  • Identify the market value by doing a good research
Now let’s say you’ve found an apartment …
  1. Check that the property you are interested in is close to the facilities you require., for example shops, public transport, parks, hospitals, schools, work, gym, etc. – A valuable tip if you want to earn some time.
  2. When you choose to live in an apartment consider whether the building is close to clubs, cafes or other live music venues. What is the amount of passing traffic – will it be noisy at peak hour ? Will the noise affect your lifestyle? It is a good idea to arrange an inspection of the building during the evening or during peak hour traffic before you agree to the purchase. – Now I have an apartment near a non stop bar, and from time to time people get drunk at night and make a lot of noise.
  3. How old is the building? You should consider the age of the building.Are any facilities likely to require repairs or replacement? It is strongly recommended that you obtain an architect or engineers report on the building before deciding to buy.
  4. What are the security measures for example, can anyone walk into the building? Are there any security cameras?
  5. Does it have a balcony so you can enjoy the view or afternoon sunshine? Or are you blocked by other buildings or facing the wrong way for the sun?
  6. What are the maintenance charges? Many people don’t think at this aspect when they buy a new apartment. They will generally cover the municipal tax, property tax, assessment tax, water charges, common electricity charges, elevator charges and charges for hired help, like the garbage cleaner and security. Find out how much is the maintenance charge, what is includent and now included in the charge. For example, car parking charges may be separate.
  7. If you have a car this must be an important question to ask. Will car parking be provided and do you have to pay extra for it? Check with the seller of the apartment if his/ her parking slot will be made available to you. If your previous owner did not have a vehicle, speak to the secretary of the society and ask for a parking slot.
Please don't forget to check about the credibility of the builder and their promised delivery time. It would be great if you can go to their previous projects and talk with the residents there!

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