Four things you need to know before buying your first flat

After you have been renting for years, there comes a time when you want to move into your home, to be able to arrange your home at will and to know that you no longer depend on another owner.

However, this decision is crucial, first of all, because it involves a long-term investment. For this reason, it is essential to make sure that you are fully informed and know everything there is to avoid unpleasant surprises or make a hasty gesture that you will regret later. An informed buyer is consistently winning. Here are the main things you should decide on and find out beforehand:

The location where you will buy your apartment is an essential aspect. Naturally, prices vary quite a bit depending on the block's area, but there is always the risk of finding an apartment whose price is not reasonable concerning quality. If you intend to move to an area that you do not know very well, then it is recommended to make a few trips to get there, to get acquainted with the neighborhood, both during the day and at dusk, so that you know if you have any cause for concern or if you see yourself living there.

The area where you will buy your first flat is a critical aspect. The distance to work or to a mall, family, or friends affects your decision. Of course, the available budget also dictates what options you have. Prices vary quite a bit depending on the block's area, but it is important to find an apartment whose price is reasonable in relation to the quality offered. The informed customer is preferable, so visit the area and the building with knowledgeable friends, engineers, or neighbors before buying anything. If you intend to move to a place that you do not know very well, it is recommended to make a few trips to get there and get acquainted with the neighborhood to see if you would see yourself living there.

Also, think about the balance that the chosen area can offer you. Among all the benefits you have living in a big but crowded city, you may feel the need for the area you choose for your new home to be a quiet one and as close to nature as possible, so that you can easily detach yourself from the rhythm of the city, but at the same time, without moving away from your places of interest. For this, access to the house or the escape to the mountain or the sea should be facilitated by main arteries, wide boulevards, and several options.

Also, consider factors such as the availability of parking spaces, access to public transportation, the daily transportation facilities available to tenants in the case of new buildings, and the ease with which you can reach essential points of the city.

Evaluate area prices.

The moment you start looking at the offers, you will quickly realize what the specific prices are for a certain area. You will be able to identify those homes that either has a suspiciously low price or are well above the market average. In addition, you will notice that the prices of an old apartment are not necessarily lower than those of flats in a residential complex, which you can buy already finished, turnkey, which means that you will not have to worry about the whole renovation process. As you can see, there are also elegant residential complexes located in the city, which satisfy your quality and price requirements.

How will you pay for your first flat?

Few can afford to pay for an apartment with the money down. Most of those who buy their first home use a type of bank loan, depending on the amount they can afford to pay in advance and the evolution of rates. Before making a decision, make sure you know the pros and cons of each type of loan. Also, do not decide at first on a bank from which you want to borrow, but be careful to ask for offers from several institutions so that you get the most advantageous option for you.

What are your plans for the future?

If you are planning to start a family in the next few years, then a studio will definitely be too small, and you may want to reorient to a larger apartment. On the other hand, if you already have a family, then consider other aspects, such as easy access to kindergartens, schools, parks or playgrounds for the little ones. An apartment near these facilities will simplify your life and save you a lot of hassle. And some residential complexes also offer the possibility for the little ones to play and socialize freely in parks on the block's scale.