Buying an apartment is a big decision. It’s not something that should be done without considering all of the factors. There are many things to think about before you buy, and even more after you’ve bought one.
Veteran Property Astrologer cum Astro Strategist™ Hirav Shah says, “One thing to consider is the quality of the building. As soon as you buy an apartment, it becomes your new home and having a poor one can affect your happiness significantly.
In addition, you should check for any maintenance issues with appliances or other problems before signing off on anything. It’s also good to find out if any significant work has been done that could impact future costs associated with living in this property, such as renovations or re-wiring, etc. If possible, ask about what plans are being made for later down the track, so you’re not surprised by extra expenses after moving in. You can find out all these issues by getting a building inspection or even a strata inspection, which will give you details regarding the condition of the building.”
However, before you buy an apartment, Hirav Shah mentions some of the main things you need to check are
Location of Apartment
The apartment’s location is of the utmost importance because this is where you’re going to be living for a while. Whether the location is close to schools, shops, public transport & other amenities will, of course, depend on your situation and personal preferences. If you have kids, school is a crucial consideration when choosing an apartment location.
If the building isn’t close to any significant bus routes or train stations, having a car may be necessary for everyday use. This should be considered before buying because it could become expensive with paying for petrol etc. every week. Another essential thing to consider about the location is how far it is from your workplace if you’re thinking of buying to live closer to it.
If possible, ask if any local licenses have been issued that may affect future plans with parking, etc. These include new roadways being put through nearby streets, which could restrict access or planning changes to public transportation routes, which would mean more people using buses/trains closer to home. You will also need to know about the crime rate in the area and what safety precautions they take in the building, such as security guards or swipe cards.
Size of apartment
The size of the unit you are hoping to buy is an important consideration. In addition, you will need to know how much room you have in terms of square meters of living space, the number of rooms, and what size the balcony is. These are all critical factors that can affect your happiness with a unit, so it’s worth taking some time out to measure up before committing yourself to buy anything without knowing if it’s suitable for your needs or not.
Checking whether there are any planning restrictions on future renovations may also be necessary depending on where you live as this could stop significant changes being made, which would impact your experience in your new home, especially handy when considering renting something short term while looking around rather than making an expensive commitment without being sure about what might happen down the line.
Amenities in Apartment
What kind of amenities does the apartment building offer? Is there a pool, guest parking space, or is the building close to amenities such as shops and dining options? This may be something you take for granted in your old place, but it’s essential to consider what things will make up daily life when buying an apartment.
Price of the apartment
The price of the apartment you intend to invest in should be according to your budget. If you are thinking of buying an apartment, make sure it falls within your budget. Check whether the price is reasonable or not compared to other similar properties nearby for sale. If you are hoping to get a mortgage, you will need to make sure that your income is sufficient to pay the loan back. Other than that, you should also consider the additional costs, such as maintenance fees and council rates, when considering how much to spend on an apartment or strata unit.
Apartments and strata units can also have additional expenses and levies, which you will need to know about to budget for them in your monthly payments. But, again, you can easily find out about these things by getting strata to report or any other area you intend to buy.
To get an idea of how much it will cost you when buying an apartment or strata unit, getting a strata inspection through professionals can be helpful. The inspector should go through all aspects of the building and let you know what condition everything is in so that these things don’t come back to bite later down the track. They will also check whether anything needs immediate attention before future damage occurs due to neglecting problems now, leading to expensive repairs later on down the line.
Furnishings and appliances that come with the apartment you’re considering buying
Some apartments may include furnishings and appliances, but some may not. Hence you must know what is included in the purchase price. You should also check if there are any additional costs for these things, such as rent or monthly fees. It will be beneficial to know this before buying an apartment so that they do not get surprised when moving into their new home later down the track with extra bills coming in unexpectedly, which could cause financial problems.
If you are thinking of buying an apartment, make sure to get a building inspection done, this is especially important if it’s your first time investing in property. An inspector will inspect all aspects of the unit, including; roof, walls, drainage, etc., inside of units should be checked for dampness which can lead to mold growth, and also check appliances like microwaves, ovens, etc., also look out for deterioration on structures around windows/doorways that could mean there have been water leaks from windows above at some point.
And last but not least,
Take Property Astrologer or Real Estate Astrologer’s Advice
Many property-related matters can be derived from a careful study of a horoscope. An efficient Property Astrologer or Real Estate Astrologer can give property buying advice based on the date of birth and horoscopes and with the analysis of the property and can tell the good and bad aspects of the property you are interested in. He can also tell about the chances of losing property and the risks involved in the investment. An astrologer can also predict what would be the best time for you to buy a house of your own.
These days, Hirav Shah is also working with India’s leading builders and real estate developers mainly from Mumbai, Delhi, Bangalore, Chennai, Ahmedabad, Calcutta, and small Builders from small cities, etc. for their existing and new projects to help them out, increase certainty, and to make strategies.
Hirav Shah concludes by saying, “When purchasing, pay attention to any notifications regarding by-laws within the block that could affect you as a resident. It is essential to know if there are any by-laws in the building regulating pets; this could be anything from the number of dogs allowed per unit or type of pet which can be kept, etc.; it’s better to know now so that there won’t be any conflict later on down the track with your neighbors.”