Apartment east london

5 Things to Look for While Buying an Apartment

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There is no denying the fact that moving into a new place, be it a house or an apartment can be quite the hassle. An apartment, in most cases is easier to move from and into given the convenience it offers and minimal maintenance. In most cases, going out there and buying an apartment is also a more affordable option that purchasing a house.

There are plenty of apartments and flats for sale in East London, but not all of them will have the kind of qualities that you may be looking for while buying that apartment. When you decide on purchasing an apartment, you basically take part ownership of the building as a whole as well so it is important to look at a few things before you make that crucial decision.

Here is our list of 5 things that you should definitely look into while purchasing an apartment:

  • Make sure you have the laws in check!

When you’re indulging in buying property like a townhouse or an apartment, you have to make sure you know what legalities you are getting yourself into. You have to take a breather and ask yourself whether you are fully up to date with all the laws that may apply to the situation that you are in. When we say laws, we don’t just mean state based laws but also rules and regulations that have been set up by the building owners or corporate bodies. For example, it is absolutely essential to check and confirm whether an apartment is pet friendly if you are a pet person.

  • Get your inspection report ready

This is just as simple as making sure that whatever you are putting your money into, is worth it. With the inspection reports you can know if the wiring, building structure and everything else is in place with the apartment. This is important to make sure that you don’t buy a place that you didn’t exactly want to sign up for. Also, bad structure and wiring naturally means that you will have to spend a great amount of money in repairs. So, please, get an inspection report!

  • Keep an eye on the Strata Fee!

Once you have decided on what apartment to put your money into for a living, you have to see and keep a check on the strata fee that you may have to pay. This fee is basically for garden upkeep and maintenance. However, the amount of this fee can differ significantly where some might be extremely expensive and out of your budget!

  • Go Through Corporate Records

Reach out to the body in charge and have a look at the records to see if the people in the building and complex are the kind you would get along with. A lot of disputes, of course, would mean the place isn’t the most peaceful to be living in and that is the kind of clarity you need.

  • Is the property well-maintained?

The way the property is maintained says a lot about the potential of the property as well as the effort gone into it. If a property is neglected and has broken basics, there is a chance you will have to spend some extra pounds!

Hopefully, you now are familiar with the things to look for when buying an apartment.

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