Buying a real estate: things you need to know

Finally, you’ve saved enough money to buy a home or apartment and now you are ready for a big life investment. Buying a real estate is not easy nor simple. Moving to your own apartment or house is an exciting and vital life event. But before signing a property purchase agreement, it’s important to keep your ‘cool head’ and carefully choose the place you’ll soon be calling your home. We bring you a small list of things you should pay attention to before buying or renting a property:

Check the documentation

The first thing you need to do before buying an apartment or home is to check if all the ownership documentation is legally correct and is the person who sells an apartment or a house the only real estate, owner. Always insist on finding out how the owner came into possession of the property and making sure these documents are duly signed and certified by attorneys and notaries.

Find out more about the following:

– is the property built with a bank’s credit,

– is the land, on which it was built, under a mortgage situation,

– check the year of construction,

– make sure there are object building and occupancy permits,

– whether all the fees paid (also applies to apartments where no one has yet lived).

– Energy label!

Define your priorities

Although sometimes you “fall in love at first sight”  with a house or apartment you want to buy, consider whether this property really has everything you need. Experts suggest that you first choose the location, size, and functionality of the apartment, and then other things that you consider important. This can be the distance to the city transport or distance to/from the workplace. These things are very important if someday you want to move to another apartment. Apartments with an attractive location near the city bus are easy to sell, even if they are not in good condition.

Functionality is more important than a square meter

Although most people hope that for the money they have can buy as big a flat as possible, real estate experts point out that apartment coverage is not always the most important thing. What’s really important is its functionality. A square meter of the apartment would not mean much to you if that’s mean a huge hallway or some daylight-free room.

If you are thinking of recompiling rooms or demolishing the walls, the owner is better to look for the original floor plan of the apartment. If you are buying an apartment in a new building, you can also participate in the layout of the rooms yourself.

Check the real estate status

Do not get into the trap of an ad where the seller offers the apartment cheap, with ‘little adaptation’ or ‘small investment’. That’s why it is necessary to check the walls, the age of installation and the correctness of the valves, sanitary units and electric and gas boilers. Do not forget the age and overall condition of the building where the apartment is located. If you are unsure of your assessment, you should ask advice from a builder or architect.

Consider a broker

The price of an apartment or home that the owner determines is often higher than the market value of the property you want to buy. If you are not happy with negotiating with the owners or the real estate price, consider looking for help from an expert or real estate agent. The buying process will be faster, and real estate agencies will also offer property verification services, which can save you a lot of time.

Secure your property

The fact is that property insurance now covers many risks, including even regular maintenance or repairs in the home or apartment. By arranging an appropriate insurance policy for a favorable price you will best protect what you have worked hard for, and sleep well throughout the year. Even if the roof flies away one day.

Try to lower the starting price and buy the furniture for that money

When buying a property, one thing is for sure – you must be cunning. Always, and I mean always, try to lower the price.

Also, remember that you will need to have some money for other expenses.

Now, when you finally get acquainted with all the obstacles, you can start your adventure!

By Tomislava