These Tips May Speed Up Your Home Sale

Buying a new apartment is an exciting yet significant investment. Whether you’re purchasing your first home or adding to your real estate portfolio, asking the right questions can help you make an informed decision. Here are the key questions to consider before making your purchase.

Who Is the Developer, and What Is Their Track Record?

Before committing to an apartment, research the developer’s history. Have they successfully completed similar projects? Check their reputation, past developments, and any reviews from previous buyers to ensure reliability and quality.

What Is the Total Cost, and What Does It Cover?

The listed price isn’t always the final amount you’ll pay. Ask about:

Any hidden charges or maintenance fees after purchase.

Additional costs such as legal fees, service charges, and taxes.

Payment plans and financing options.

What Are the Payment Terms?

If buying off-plan, understand the installment schedule. Can you pay in phases? Is there a mortgage financing option available? Knowing the terms will help you plan your finances accordingly.

What Amenities Are Included?

Modern apartments often come with amenities like a gym, swimming pool, backup power, and high-speed lifts. Ask about:

• Security features such as CCTV surveillance and manned entry points.
• Parking availability and allocation.
• Borehole water supply and backup generators.

What Is the Apartment’s Size and Layout?

Size matters when choosing an apartment. Ask for the floor plans and confirm the square footage of each room. Will the layout suit your lifestyle needs? Are there balconies, extra storage spaces, or en-suite bedrooms?

What Are the Service and Maintenance Costs?

Once you move in, ongoing costs will apply for common areas and shared amenities. Ask about:

• Monthly service charges.
• Who manages maintenance and repairs.
• Rules regarding renovations or modifications.

Is the Apartment in a Prime Location?

Location affects accessibility, convenience, and resale value. Consider:

• Proximity to malls, schools, hospitals, and public transport.
• Traffic flow and road conditions.
• Safety and neighborhood security.

What Are the Legal Considerations?

Ensure the apartment has proper legal documentation, including:

• Title deed or lease agreement.
• Compliance with zoning laws and government approvals.
• Whether there are any pending legal disputes over the property.

When Is the Expected Completion and Handover Date?

If buying off-plan, confirm the expected completion date. Ask about potential delays and how they are handled. Ensure there are clauses in the contract for refunds or compensation if delays occur.

Can You Resell or Rent Out the Property?

Even if you plan to live in the apartment, it’s important to consider its investment potential. Ask:

• Is there a high demand for rentals in the area?
• Are there any restrictions on leasing or reselling the unit?
• How much appreciation can be expected in the future?

Conclusion

Asking these questions before buying a new apartment ensures you make a well-informed decision. Take your time, do thorough research, and consult with real estate professionals to secure a property that meets your needs and investment goals.

Looking for the perfect apartment? Contact us today to explore our available listings!