10 tips you should consider before buying an apartment
Before buying an apartment, we get acquainted with a lot of information on real estate platforms, websites of various companies and social networks. In the end, after seeing many interesting projects, it is difficult for us to make a choice. In general, in the Georgian real estate market, there has been a recent trend of increasing demand for new apartments, and a decrease in the so-called secondary apartments.
Thousands of apartments are sold every year, citizens receive large sums of money for real estate ownership. There are basic criteria that should be taken into account when choosing a residential apartment. This list includes both security issues and the environment and location.
Budget and financial capabilities: It is important to have a clear budget, how much you can afford to buy and what interest rate you can get on the loan. Also, consider expenses such as real estate taxes, registration, repairs, etc.
- Location: Pay attention to the location of the apartment. Choose an area where there is the infrastructure you need (food stores, public transport, schools, hospitals, etc.).
- General condition and technical attributes: Check the technical condition of the apartment – electricity, water supply, heating, external walls, wood and metals. If there are technical problems in the apartment, then consider the costs of fixing them.
- Utility bills: Study the amount of utility bills and what services are included in them (for example, heating system, water, gas and electricity costs).
- Neighbors in the apartment: Good neighbors ensure a peaceful and comfortable life. Before moving into an apartment, it is advisable to learn about the neighbors, their behavior and lifestyle.
- What projects has the construction company you are planning to buy an apartment from completed? When buying an apartment, it is important to pay attention to the legal side. We must make sure that we are dealing with a reliable company, especially when we are dealing with a building under construction.
- Taxes and regulations: Check that the apartment is not illegally registered and that its sale fully complies with local laws and regulations.
- Proper documentation: Check the apartment registry to make sure that there are no debts and that the apartment does not have any legal problems (for example, loans, restrictions or debts).
- Future value: Consider how the living environment may change and whether the value of the apartment may increase in the coming years, especially if you are the manager for a long time.
- Repair and renovation possibilities: If the apartment requires repair work, estimate how much time and resources you will need to fix it up and what the process will cost.
It is important to consider the above tips to ensure you are as safe as possible from mistakes and financial risks.