Introduction
Owning an apartment in a city is a big achievement given that this is no mean feat. Apartments in most cities do not come cheap because the forces of demand and supply are always at work. Here, the housing units don’t always expand at the same pace as the population. This state of affairs only goes to push up the property prices. It is not surprising that some Realtors have made sure that this works to their advantage. The process of looking for apartments in any city is therefore a daunting task. You are required to try harder and dig deeper in your pocket to buy yourself an apartment in the city. In fact, city apartment ownership is, for the most part, a status symbol.
Step 1
There are ways to make your apartment buying venture an easy, cheaper and satisfying venture. The first thing is to be sure what you want for your apartment. If you have a family, involve other family members to formulate a checklist. Keep in mind it is not always possible to get apartments in your city that fully meet your checklist requirements and so some flexibility might be called for. Compare different city locations, features and prices. This you can do by walking around in your preferred areas, consulting real estate brokers, searching online and using word of mouth. Check notice boards of shopping malls and community centres for apartment sale advertisements. Watch out for scams -- like they say, “When the deal is too good, then it probably is!”
Step 2
City apartments are very competitive so you need to have your finances in order. This means that you should have cash on the ready for immediate payment once you make your choice. Many property seekers have lost good deals because they were not able to pay on the spot. Check out a number of apartments in your city before making the final choice. Take into account such things as the number of units in the apartment block, the kind of people already living on the block, the design and size of the apartment, social amenities available in the locality, the general neighborhood and infrastructure. Using your checklist against different apartments in your city makes your search much easier.
Step 3
You may require the services of a legal professional to deal with the legal side of the apartment purchase. He should be able to advise on apartments in your city that are legally compliant. Your legal property attorney should be able to simplify the legal jargon for you. Everything should be made clear to you and all your concerns addressed to avoid or minimise any future surprises once the apartment is in your possession. Don’t shy away from asking questions; after all, it is your money that is at stake here.
Tips
If you are limited in time or find the whole apartment buying business a hustle, a professional real estate agent can do the job for you for a fee. You will only be required to pick your choice from a list of apartments in your city presented to you. Whatever method you use, you have to inspect the apartment to make sure everything is in order before making the final payment. Once the deal is done, store all the property documents in a safe place. Make backup copies as well and keep these in a different place from the original ones.
