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Things to mull over before buying an apartment

Firstly, it is important to do thorough research on the market to make sure that you’re not being hornswoggled. Discuss your prospects with agents, independent experts, and friends who can divulge information from their experience. Also, don’t put all your eggs in one basket. It’s important to have a couple of viable options, appraise the pros and cons and ultimately determine if the value of the apartment does justice to the amount that was paid.

You’ll need a renter’s insurance. Nobody wants to pile on extra bills but renter’s insurance can be a blessing in disguise, in case of any unpleasant occurrences like burglary, fire or an earthquake. A lot of people are under the false notion that the landlord’s insurance policy will cover for the damages but that’s not entirely the case. God forbid, in case of an accident, will you be able to replace all your personal possessions from your savings alone? Fortunately, renter’s insurance is a meagre 10 dollars a month. You’ll be thanking me in the long run.

What next? Most apartments come with monthly maintenance charges that cover a variety of taxes like property, municipality, electricity and elevator charges. Manual labour like janitors and security guards needs their monthly allowance as well. You will need to find out if the maintenance charge includes all services like car parking and such. Also, apartments come with a set of rules and regulations. This may relate to policies concerning visitors, pet restrictions, and noise control. Bending the rules may come with a heavy price so it’s imperative that you go over the details so it doesn’t feel like your freedom is being curtailed. Stay updated on all the latest developments.

Get a Strata Inspection Report. It’s basically a building report that entails precise details over many factors like the defects in the apartment, expenditure over the past few years, the current value of the building and rules pertaining to animals. It is highly recommended to get a report to ensure that the overall state of the structure is in good working condition.

Inspect the building thoroughly before making any drastic decisions. Make a note of any visible damages like scratched floors or stained walls. Online real estate brokers like Papachristou triplex a vendre offer multi-floor apartments for sale. Their team is comprised of agents that deal in residential, commercial, luxury and rental property.

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