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Apartments are the next best thing after owning a house and come with an array of choice that you can pick and choose from. But be careful not to rush the process or you could end up with an apartment that takes a huge chunk of your income. To make your investment in your new unit fruitful here are five things that you can do before purchasing your unit.
1. The location still counts
When looking for a unit or apartment the location still counts. Your location can mark the difference in you finding your dream place or a nightmare when it comes to travelling and amenities. The same way in which you will compare the location when looking for a house needs to be applied when looking to purchase a unit or apartment. Finding a place that is within a good distance of public transport, schools, medical and recreational facilities can prevent unnecessary stress.
2. Does it have a sound structure?
The last thing you want to invest in is a building that is a ticking bomb in terms of its structural safety. If it seems that things are cracking at the seams when it comes to the walls this could be a bad sign that there are structural problems that could blow up into bigger problems later. Checking the sound proofing between rooms is essential to anyone’s privacy. Hearing your next-door neighbour through the walls can drive anyone crazy.
3. Noise levels
To get peace of mind and a decent night sleep it is vital that you check the noise levels not only from your neighbours, but in the general neighbourhood. If it is possible, try to visit the unit at various times of the day. The demographics of the place will also tell you whether it will be a noisy place or not. Places that are family orientated tend to have low noise levels compared to places that have many young adults and students.
4. Does it come with shared facilities?
Checking to see what shared facilities come with the unit and apartment will help you determined if it is something that will work for your desired features. You can also check if there is enough space or facilities for the number of people who stay in the building. The last thing that you will want is to wait for a whole week to pass to get your share of using a particular facility. Knowing if there is a caretaker to help maintain these facilities is essential, which can save you the drama of having to fight over whose turn it is to maintain these facilities.
5. Is it worth the price?
There will be a few features that you might have on your bucket list when it comes to unit or apartment shopping that you will not negotiate on. However, also keep in mind to see if the actual space that you will be spending your money on or using a loan to pay for is worth every dollar. A place that has a good curb appeal and has tolerable noise levels is an investment.
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This guide provides general information and does not consider your individual needs, finances or objectives. We do not make any recommendation or suggestion about which product is best for you based on your specific situation and we do not compare all companies in the market, or all products offered by all companies. It’s always important to consider whether professional financial, legal or taxation advice is appropriate for you before choosing or purchasing a financial product.
The content on our website is produced by experts in the field of finance and reviewed as part of our editorial guidelines. We endeavour to keep all information across our site updated with accurate information.
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