Buying a flat checklist: how to stay organized and not be fooled

When you first think about buying a flat and setting foot on the UK property ladder, you can be almost speechless with excitement. You will fly through the flat viewing process eager to buy something ASAP and when you feel like you’ve found the perfect platform, you’ll only notice the airy rooms and gorgeous views and casually ignore a ceiling that’s leaning towards imminent collapse and the mold that invades the bathroom. This is exactly why it is vital that you be pedantic to the point of neurosis about the process of buying a floor, which is best done with a guide or checklist to buy a floor firmly held in your hands.

Before you start thinking about what type of apartment to buy, you should sit down with your partner and work out a long-term payment plan. You need to consider whether buying a flat at that particular stage in your life and that moment in the real estate market makes as much financial sense in the long term as it does “real life sense” in the short term. If your mortgage payments will allow you very little expenses, you may have to put off buying an apartment for a while, at least until you can also afford a can of paint and some furniture to fill that exquisite 19th century living room. . Fortunately, one advantage of banks being so cautious about lending money is that you will be given a good indication of what you can afford when you apply for a mortgage.

The next step is the fun part: You can start to think about whether your floor-buying aspirations extend to a ‘period piece’ floor, a repair floor, or you want to be the first in a new complex. You should also consider what area you would like to live in and what services you have, such as transportation networks and schools. Then you have to imagine the area 20-40 years from now before seriously considering buying a flat there. Ask yourself if rapid development is taking place and if businesses are likely to cause residential property to depreciate in the future. Other considerations include crime rate and distance to your job.

Once you are seriously considering buying a particular apartment, you need to look at every nook and cranny critically and if you can’t, take your most pedantic friend, the accountant, for advice. Buying a flat is the only time in your life when negativity will work to your advantage – bring a list of questions to ask the landlord and consider any potentially big problems that may arise from existing small problems and what it will cost to fix.

However, your reservation should end once you have completed the apartment purchase process and have chosen the perfect apartment because now you are ready to launch into making it your home and enjoying the benefits of owning a property.

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