What to look for when buying an apartment

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For many people, owning a home brings a sense of pride and freedom that cannot be matched by renting. When you own your own home, you are not bound by landlord’s rules and your monthly payments are usually building equity. Although buying a home may be the first step you take towards building long term wealth, it is important to understand the pros and cons of homeownership before taking the plunge

        After spending some time in renting business you’ll realize that you should stop throwing away money on rent month after month, and buy a house or an apartment.  We've learned the hard way that there are some very important things that should be checked before signing the papers to buy a new home. Of course, you'll have a professional do an inspection and look over the place to make sure the home is termite and flood damage free if you are going to buy your first apartment ever, then in this article will show you a checklist of things that you should verify before buying.

•  Central location, desirable to tenants:

 Decide on the area you want to buy an apartment. This may involve spending some time in that area or at least doing some research at home. Where you choose your home is generally more important than the home itself, so be mindful of where that home is located. You can change all kinds of things about your house, but you can’t change its location.  Is the property is within walking distance of grocery, restaurants and retail, is it located in a major metropolitan area, near centers of employment and within immediate vicinity of mass transportation?

•  Research:
Before you buy, research the market to make sure you are getting value for money. Talk to independent valuers and real estate agents, and check recent sales in the area. Don’t rely on advice from the developer or their agent. This is particularly important if you are buying off the plans. You want to know that the value of the finished apartment will reflect at least what you paid.

In your apartment:
  1.  Affordability in your preferred suburb
  2.  Adequate, controllable solar access
  3. Well-designed cross ventilation
  4. Appropriate glazing and well-designed natural day lighting
  5. Practical, furnishable floor plan with usable balconies or courtyards
  6. Pleasant outlook, high level security and sound separation
  7. Inclusive, consultative management with sustainability upgrade agenda
  8. Multi-bin sorters for waste and recycling


In your building:

1. Close to good public transport links
2. Effective communal recycling and waste disposal facilities
3. Individual water meters that are read and billed individually
4. Photovoltaic systems on common property roofs grid fed through common property meters
5. Co-generation or trigeneration energy systems
6. Efficient heating, ventilation and air conditioning (HVAC) plant including variable speed drives and efficient management systems that monitor energy and water demand in real time
7. Solar hot water pre-heating for centralized systems or individual solar hot water service in smaller developments
8. Efficient central extractor fan systems for common areas and bathrooms
9. Carbon monoxide monitoring and efficient lighting in car parks
10. Energy efficient lighting in common areas, with appropriate controls such as motion or light    sensors
11. Spaces and facilities for community interaction with lifestyle facilities on your wish list (e.g. pool, gym)
12. Communal composting
13. Bicycle storage and parking for car share vehicles
14. Rainwater capture for low water use gardens and carwash facility On-site water treatment
15. An apartment building has balconies with wooden fencing; the topmost balconies are shaded by standalone eaves.

Now you are armed with the knowledge to make your home buying journey successful and stress-free! As always, we are here to help and answer any questions you may have about purchasing the new home of your dreams! Call Fow word properties or email us through our website anytime. @fowworldproperties.com

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