Things to consider before buying a flat or apartment
Before you purchase a property investment you should keep some elements in your mind. You have to keep certain things in your mind. Buying an apartment OR flat is one of the important decision one makes. It can be a great asset, as long as you invest in one that meets your budget and enhances your financial status.
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Certain things that you should keep in mind are listed below: Which properties are smart Investments? Whether you intend to Rent out your property OR keep it for your own plays a significant role in deciding the Location OR area you want to choose. In case if you are buying it for Rent out purpose please keep below mentioned things in your mind: • Elevator in the building. • Metro/Road facility nearby. • Large windows • Proper ventilation and not much congested. Investments that can increase value of your apartments: Anything that makes apartment appear brighter, better lit , more spacious , cleaner OR better laid out will generally improve the value . You can increase a lot of re sale value if these things are available Or can be changed. So, there should be some scope for making amendments if a buyer wants to do. Investments that will have no impact on your Apartments value: Most of the time the things that you can’t see generally doesn’t improve the value. For example generally you don’t recapture the cost of redoing the electrical or plumbing system, or the cost of fixing old windows or doors , broken sinks OR broken toilets. The Location of the Apartment: You must consider a flat OR apartment with a balcony, especially if there are great views outside. This will certainly help you to sell it when the time comes. You will be having good quantity and better quality of prospects as well, Which Floor? :
It is also very important to decide which floor you are buying. If you are going to purchase an apartment OR flat above the ground floor, you may find it difficult to carry your shopping articles above. Incase if there are no elevators, it may worsen the situation. If there are more than 3 floors, it is guided that a n apartment should be having a proper lift for that.
We have to keep pros and cons in mind before buying any flat. For Instance Ground floor apartments may have proper garden in front but it may be more prone to thefts. On the other end if you are going for First floor OR second floor it may be warmer in Summer but it may have the advantage of panoramic views.
How close is the building to shops, cafes, malls. What security measures are available? Are there any security cameras? Other facilities like Gym, Parks, and Swimming pool are there Or Not? Check the amount of pollution in the area?
So, in a nutshell, first set priorities. Then go for it. As it is a very crucial decision to make and if the decision is right in the beginning, it may result to increase in profits.