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Apartment hunting made simple: a beginner’s guide to making the right purchase
Make your dream apartment a reality with this essential guide, courtesy of Quartermile
With house prices expected to rise up to 2.5% over the course of 2017 and fuel costs back on the rise, the suburban dream of a two-up two-down house is looking less and less affordable for buyers today. The old ideal of getting a house out of town and commuting in to work is made even more unappealing when we consider the level of congestion in the UK’s major cities and the time wasted sat in the car or on public transport each day.
It’s no surprise then that we are seeing more and more interest from people of all ages and demographics at Quartermile. Luxury urban living is no longer simply the preserve of young professionals but is also increasingly popular with young families and downsizers.
If you are new to the idea of apartment living and don’t know where to start or what you should be looking for, here’s a quick guide to steer you right.
Know what you’re getting into and be prepared
Start your apartment hunt early with a decent amount of research, ideally before you’ve even looked at listings. Search online forums to find information about different areas and sellers, and – if you’re moving to a new city – be sure to gain a good idea of which are the best districts and what part of the city has the amenities to suit your needs.
You should also have a particularly good understanding of what your financial limitations are, and know which areas are best for your price range. Keep a record of all your paperwork regarding areas, finances and other factors so you have it all on-hand.
Get the right assistance
The housing market is extremely competitive, and it’s important to do your research and know exactly what kind of property and deal you’re getting yourself into. Every property purchase arrangement is different and it is important to seek the right help from legal service providers such as conveyancers and property professionals such as estate agents and building surveyors.
Contrary to what many people think, a survey (typically in the form of a homebuyer’s report) is as important in the purchase of a flat or apartment as it is on a detached house. If you are buying a second-hand property it is advisable to get the most comprehensive survey possible to avoid discovering any hidden problems at a later date.
A building survey is not the same as the mortgage valuation and you should not consider a mortgage valuation as a clean bill of health for your home. Arrange a proper survey if you wish to have genuine peace of mind about your purchase.
It is worth bearing in mind, however, that a new-build apartment building like Quartermile doesn’t carry the same risks as a 19th or 20th century home – and therefore it may be possible to save some money when negotiating the cost of a survey from your building surveyor.
Master the art of open houses
Nowadays, almost all apartment hunting is done online, but you never really know how well suited a property is until you see it in the flesh. That’s why keeping track of open house listings can really open your eyes to the kind of properties available.
Mastering open days or open weekends is all about getting organised. Make a spreadsheet of listings alongside vital pieces of information about the property. When seeing an apartment, don’t be afraid to have a good look round and ask lots of questions – you’re trying to find your perfect property, so it’s not unreasonable to be curious.
Know your priorities and don’t be afraid to move quickly
While being prepared, informed and curious during your apartment hunt is a good thing, this shouldn’t stop you from snapping up the perfect property once you find it. Know what your priorities are when it comes to your dream apartment, whether it be price, location or floorplan. This will help you know instantly whether a place is right for you.
And if it is? Then go for it! The housing market moves extremely quickly, and you don’t want to end up missing out on a property because you wanted to take a couple of weeks to think about it. Be on high alert for contact from agencies and sellers, and make sure you are in a position to react quickly if circumstances change.
It’s easy to find your dream home with Quartermile
City apartments put you right where the action is, making for an exciting lifestyle as part of a community. Quartermile offers a range of beautiful luxury apartments right in the heart of Edinburgh, one of the UK’s most cultural, lively and spectacular cities.
If you think that life at Edinburgh’s most exciting new development is right for you, why not book a tour today on 0845 000 2525.