Buying an apartment is a big-ticket purchase that should be done right in the first instance. You should take into consideration several factors, such as location, water and food supply, and the neighborhood.
Others are lucky to get the best apartment in their first try. However, others bought apartments that are not worth the money, mainly due to disregarding the red flags.
Save yourself from regret and keep in mind the red flags you shouldn’t ignore in buying an apartment.
1. Tiny kitchens
A kitchen is the most essential part of a property. This area is where families gather around for conversations and where food is prepared. You need a good kitchen where you can move around conveniently. A small kitchen is a red flag.
Although apartment owners can modify the size of the kitchen by removing walls and adding more space, doing such would only cost you more money for renovations. Getting an apartment is much cheaper than getting a house. Thus, it would beat the purpose of saving money to buy a property if you would only use the extra money for renovating the floor plan of the apartment.
2. Bad plumbing system
Before making a purchase, make sure that the plumbing system works. You can inspect the toilets, sinks, tubs, and showers to know the plumbing condition of the property. If there is any leaking, then it is a red flag.
You can tell if there is a plumbing problem if the ceiling has yellow or brown spots. Nobody paints dots on their ceilings with these colors. These colors are the result of the discoloration of paint due to water leakage. There can be potential mold growth, a health hazard that you should avoid.
Do not stress yourself in fixing the bad plumbing system. The apartment should have adequate water pressure. The septic tank should work and not leak when the water closet is flushed several times. Keep in mind that if the water system is bad, then there might be other things in the house that are not working properly.
3. Awkward apartment layout
The layout of the apartment should flow smoothly. There is nothing more annoying than a property that has a weird floor plan. It is weird to have the bathroom right next to the kitchen. It is also weird to have access to the balcony only through the bedroom.
If the apartment has this kind of layout, then it is a red flag. You might change this weird layout by renovating the layout of the apartment. However, do you want to spend extra money on the renovation?
4. Random patches of paint
A newly painted apartment looks fresh in the eyes and gets people to like the appearance of the property. However, if the paint is randomly done on the walls or ceilings, then the owner might be hiding something under the paint. The things the owner is hiding might be the cause of any problem in the future.
5. Bad neighborhood
Get a feel on how it is living in the apartment you are planning to buy. Listen to how the neighbors talk to each other. You can also ask the people near the neighborhood to get information about the apartment you are planning to buy. If your soon-to-be neighbors are rude, then you should think twice about purchasing the property.
A good neighborhood does not only mean the people around you but also the amenities and stores around the property. The key factors for a good neighbourhood are appearance, amenities, and accessibility.
6. Bad location
A good location depends on your preference. Like in a good neighborhood, a good location has key factors, such as appearance, amenities, and accessibility. The location of your apartment should look decent. If the place is dirty and smelly, then you should think twice about getting the apartment.
The apartment should also have easy access to the market, grocery, and pharmacy. The route going to these amenities and going home should be easy. It’s okay if you have a car, but it is essential to have an accessible location, especially if you are commuting to work.
The most vital factor for a good location is safety. The location should have a low crime rate. Avoid locations that have many cases of robbery and murder. Ask your agent about the status of the apartment’s location. BMA homes melbourne has a list of ideal locations for Melbourne apartments.
7. Excessively low price
The main reason for getting an apartment is to save more money than buying a home. However, if the price of the apartment is unbelievably low, then you should think twice about purchasing the property.
Ask the owner or your agent why the apartment costs cheap. Decipher the problem from the way they answer. The apartment might look okay before purchasing, but once you move in, problems might arise. There might be problems with insects, rats, light, or any other problem.
Buying an apartment is a headache. It is hard to look for the perfect apartment without breaking the bank. However, do not easily walk away from a purchase if the apartment has small chips on the wall or imperfect flooring. You can always negotiate with the seller. Nevertheless, keep in mind the red flags mentioned in this article to help you choose your apartment.