When purchasing an apartment, here are some of the most overlooked factors:
Parking:
It is important to check if the apartment comes with adequate parking spaces for you and your guests. Some apartments may have limited parking space or charge extra for additional parking, which can be an inconvenience.
Maintenance and upkeep:
It is important to assess the maintenance and upkeep of the apartment complex, including common areas, amenities, and facilities. Neglected or poorly maintained areas can affect the quality of living in the apartment.
Noise pollution:
Check for noise pollution from outside sources such as traffic, construction, or nearby commercial areas. Also, consider noise levels from inside the apartment complex such as neighbour’s, amenities, or common areas.
Resale value:
It is important to consider the resale value of the apartment and the potential for appreciation. Factors such as location, amenities, construction quality, and market demand can affect the resale value of the apartment.
Builder reputation:
Research the reputation and track record of the builder or developer before purchasing the apartment. Look for reviews, ratings, and feedback from previous buyers and assess if they have a history of completing projects on time and delivering quality construction.
Legal compliance:
Verify if the apartment and the building are compliant with local laws, regulations, and building codes. Check if all necessary approvals and clearances have been obtained from the authorities.
Hidden costs:
Be aware of any hidden costs such as maintenance fees, association fees, property taxes, and utility bills that may increase the cost of living in the apartment. A few apartments will separately charge to collect the garbage at the door step and also for water.
In summary, it is important to conduct thorough research and due diligence when purchasing an apartment to avoid any unexpected surprises or issues in the future. A civil lawyer in town or a reliable online legal service would be of better help