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20.12.2019

What to look for while choosing your new flat?

Purchasing real estate is one of the best ways to invest your capital in the long run, since a flat or an apartment is a fixed and tangible asset that can serve as a great security for any debt. What is more, as an asset, it can be bequeathed across generations. Unfortunately, even a tiny flat makes for a considerable expense, which should be carefully considered and thought through. Read our tips to learn more about finding and buying a flat that is going to be a good investment and let you save – not lose – your money. How to choose a flat sold by a developer? Before you sign the final contract, you should pay attention to several key aspects – taking care of them before closing will help you avoid future losses and unnecessary headaches.

1. Check the developer
Like every other market, real estate market also has some bad apples and dishonest players, which is why you should always verify key information about the developer, who is trying to sell you a flat. You should primarily focus on the registered office and the legal situation of the properties belonging to the company. Check the company in the National Court Register – you will be able to find out if the developer is credible, and whether their company is not subject to bankruptcy or liquidation proceedings. If you want to buy a flat that is yet to be built, you should make sure that you choose a proven developer, who can boast a number of successful investments and projects.
2. Take care of legal aspects
How to choose a flat or an apartment as an investment that won't make you pull your hair out? You should be sure to carefully check the reliability of the company responsible for the investment. Before opening up sales, the developer should have already taken care of all kinds of formal matters. You should find out whether the developer has the right to use the land and a construction permit. Upon buyer’s request, the company is obliged to present any and all documents required to ascertain whether the developer has all the necessary permits. You should also ask for the land and mortgage register number, which will allow you to check who is listed as the owner of a given property.
3. Contract 
When concluding a contract with a developer, you should focus on its content. Before you decide to sign and close, you should make sure that you negotiate all the details and deadlines, as well as clarify any doubts – this will help avoid misunderstandings at a later stage. The contract signed before the building is given a certificate of occupancy is called a promotion contract, but it is also known as the developer agreement. It obliges the developer to erect a building, separate the individual flat and transfer the ownership right to the flat to the buyer in return for payment of the agreed amount. It precedes the conclusion of the final contract, which results in the transfer of ownership from the developer to the buyer. It is worth noting that the final contract should always be concluded in the form of a notarial deed.
4. Technical inspection
How to buy a flat and avoid unexpected repairs down the line? It is best to carry out a technical inspection of the flat. Get yourself a spirit level, which will enable you to quickly check whether the floor and walls are level and square. You should also check the locations of vertical and horizontal pipes. Take a good and close look at every room, so that you can immediately catch any problems or unique solutions, which may result in additional costs somewhere down the line.
5. Good location
When choosing a flat, location is one of the most – if not the most – important aspects. It does not mean that you have to choose flats built in the very heart of the city, but you should get one in an area that is well-connected with other parts of the city and offers well-developed infrastructure – schools, stores, cinemas, etc. Buildings located on the outskirts of cities tend to be much cheaper, but saving money now can result in additional costs farther down the line, as you may for example have to commute to work or school. The nearest vicinity and the surroundings of the building are also important. When deciding on your new flat, you should check out the prospectus to see what your neighbourhood is going to look like. Are there going to be other residential buildings? Is there a production plant nearby? When you learn more about the surroundings and all the planned investments in the area, you can decide whether a given location really meets your requirements.
Visit  how-to-buy-an-apartment-ten-steps-to-getting-your-own-flat,news,37,178.php  to find some comprehensive tips for everybody who decides to buy their new flat from a developer.