Some people who buy and rent apartments, realize they’ve done wrong and move to a new one. I personally know many of them, and I can tell you what’s common in all of them is they bought the apartment without a thorough background check, and of course, without following the tips that I am going to give you in this article.
If this is your first time, then you should be extra cautious because you are more likely to make a mistake, and then sit back and rue later than someone, who’s forayed into the apartment buying/renting market in the past. When doing something for the first time, it’s safe to play by the rules.
Here are the rules:
Know thy neighbors
Whether you buy or rent an apartment, it’s essential for you to know your neighbours. If you are buying/renting an apartment in a multi-unit housing facility, knowing your neighbours in advance is a must.
There’s a 5 or 8-inch thick wall between you and the person, who lives right next door. Does he play loud music during the late hours? If he does, then you’d have trouble sleeping. Is he quarrelsome and cantankerous person? If he is, then he might get into a fight with you. You need to know your neighbours well enough before you move to the apartment. Knowing the neighbourhood is as much important as knowing individual neighbours because living in a crime-prone area could be dangerous for you and your family.
Fear height? Then don’t buy an apartment that’s on the topmost floor, or on the floor, which is right underneath it. On the other hand, if you love the unhindered view of the open sky, and that of people and cars on the road as if they are toys, choose a floor that’s high up.
Aged people are strongly recommended to live on the ground floor or on the first floor. It would help them to quickly leave an apartment and go outside when they are in a rush, and then quickly get in. Use the lift as much you can but make sure you can use the staircase too, which is possible only when you live on the ground floor or one or two floors up from it.
What do you look for in an apartment when you buy or rent it? Neighbourhood, location and cost-efficiency? What about the architectural rendering? Would you prefer to live in an apartment that’s not so visually appealing? I won’t.
As 3D modeling is becoming commonplace in the real estate industry, builders are allowing prospective apartment owners to participate in the construction and interior decoration process. 3D virtual walkthrough has become an effective marketing plan to get more customers.
Being someone who’s willing to buy an apartment, you can see yourself whether you are investing your hard-earned money in the right apartment. You’d be delighted to know that 3D architectural visualization is at times more real than actual photographs. So ask your builder whether his company has used 3D to generate the artist’s impressions.
The lease agreement
This one’s a heads-up for those, who are looking for a rental apartment. Many of us don’t read the lease agreement in its entirety. We look at the lease agreement as a legal dictum, which is boring to go through.
Well, it’s undoubtedly boring but I advise you to read it before you sign it. If you can shell out a few bucks, take it to your attorney. He can give it a look and tell you whether the agreement secures your rights as a lessee.
If that’s not enough, then ask for a tenant handbook. As a renter, you have certain rights, which the apartment owner cannot violate. If he does, then you can take him to the court. The handbook informs you about your rights. Every state has its own handbook, which tells tenants and landlords what rights they have. If you live in California, get the California Tenant’s Handbook, or download it off the internet.
Follow these tips
None of the tips given above is difficult to follow. When following following them, remember it’s not optional but somewhat compulsory. Whether you are a buyer or a tenant, you want the best return of the money that you are spending, isn’t it? Following the tips ensures that.