When you decide to enter into an agreement for the transfer of a condominium apartment, make sure you have fully understood the legal matters concerning the transaction.
Who pays for the stamp duty, which kind of title is on the table? And what are the other costs that you will be paying as the owner of the house?
Many people imagine that buying the apartment is the end, they forget the extra costs that come with the fact that one must keep contributing a certain sum towards the maintenance of the place.
Here are the other issues you need to look into before you take on the apartment.
- Which company are you dealing with? Do you have enough background checks on the company? Have you any people who have dealt with them and recommend them? A good company would make the transition period for your house a really wonderful event. Meanwhile, should you find those that are careless, all they want is to sell off their property, you are in for a long haul as a house owner.
- Make sure everything that was promised to be part of the deal is included. If for instance you were told a swimming pool would be part, make sure that you push for the inclusion of the reduction of the money. I come to buy a house because you have promised a pool, should it not be available means that we have to review our agreement and the rate should therefore reduce. Hence, keep the promises of the company you are dealing with.
- Location: Where is the house located, in most cases houses located in prime areas are more expensive while those away from town are expensive. After factoring in your interests, make sure you pay for exactly what you are getting.
- Use: What do you want to use the house for? Does it fit your goals if you intend to rent it out? If you want to rent the place, then choose high-end locations because you will attract more people. However, if you want it for residence, choose a quieter place with a bigger space.
- Finishing: Make sure everything has been done, all the tidy finishing is in place and they speak to your style. If you feel the house style does not fit in yours, have the company know so that you can have a discussion on adjustments. Do not commit to a house you will be regretting two months later.
- Amenities: These are so important. How many social and commercial services can you access while at this house? Have a list of things that you feel are important. Do you gym? Do you enjoy want a clubhouse? Then look for houses that will offer you these amenities. This is because you will have a better stay there.
- Security: This is as important as it comes. Include accessibility. Do not buy in a place where you will fear to return.
- People and rules: What are the people buying like? What are the rules at the premises? Do not find yourself buying a house then you realize your neighbors have cats and you start complaining. Make sure you know the rules and the type of people buying the property with you.
Should the rules say each person is entitled to one parking, then do not buy and come with three cars, you will enter arguments with fellow landlords.