What to pay attention to first when buying an apartment
The real estate market is constantly changing as it adapts to trends and customer expectations. How to invest in real estate and choose the right offer? Check out what to look for when buying an apartment or house. The following are certainly important:
- location – plots located closer to the center will usually be more expensive than those located on the outskirts;
- infrastructure – the value of the investment will also be influenced by, among others, the proximity of schools, public transport stops, green areas and the development of space for parking spaces;
- The technical condition of the property – the overall external appearance and aesthetics of the building. Neglected facades or technical irregularities. For example, poor roof construction or leaky internal installations can reduce the value of the investment.
- the functionality of the premises , i.e. the layout of the rooms, exposure (e.g. north-east) influence the optimal use of space and everyday comfort;
- type of development - e.g. a detached or terraced house, an exclusive modern apartment, or a tenement house in the city centre;
- Investment costs – it's worth considering more than just the property price. There will also be additional fees that need to be factored into your budget, such as document preparation and notary fees.
Analyzing these factors will allow you to choose a property with potential, which will increase the chances of generating satisfactory profits from your business project in the future. If you're considering purchasing a plot of land that's attractive for investment, you'll find an interesting option in Orange's real estate offerings.
What to look for when buying an apartment from a developer
Properties on the primary market are modern, designer, and offer functional, comfortable living spaces. However, before you decide to buy one, analyze various formal and legal issues. What should you pay attention to when purchasing an apartment or house from a developer? The following are particularly important:
- The developer's reputation and credibility – read reviews about the entrepreneur and review their investment history. You can check the seller's financial situation in the National Court Register (you'll need the company's KRS number for this);
- The more attractive the investment location , with access to developed infrastructure and amenities, the higher the quality of life. However, this may translate into a higher price per square meter;
- Finishing standard – this includes materials, technologies, and the scope of finishing work, which are included in the price. This is important in the context of the costs of preparing the space for occupancy;
- sales contract – read in particular the provisions on payment terms, contractual penalties and the principles of transfer of ownership, warranty and guarantee.
This will help you avoid unpleasant surprises and increase the security of your transactions.
You may also be interested in: Real estate market – primary or secondary?
What to pay attention to when buying an apartment on the secondary market
The secondary market is equally interesting from an investment perspective. You'll find a wide selection of properties in various locations and finishes. This is an interesting option for those seeking fully finished properties ready for occupation or business. If you're considering purchasing such a property, consider the following:
- the technical condition of the building to estimate the costs of any renovation,
- location,
- the degree of infrastructure development,
- the level of safety and attractiveness of the area,
- planned investments that can increase the potential of the premises,
- legal documentation and ownership status – you can view the Electronic Land and Mortgage Registers.
Also analyze the design potential of the premises and the surrounding area to assess how it will affect your comfort and the profitability of the investment.
What to look for when buying a flat - summary of information
If you are considering investing in real estate on the primary or secondary market, remember to:
- carefully analyze its legal status.
- check the technical condition of the building and premises, the degree of infrastructure development and the availability of amenities, e.g. proximity to green areas or shops;
- read the sales contract carefully.
This will help you assess the business potential of the area and make an informed business decision.