Tips for Renting or Buying an Apartment

Tips for Renting or Buying an Apartment

In today's modern era, the trend is for people to prefer living in apartments rather than living in houses. Why do people prefer to live in apartments? Several factors are considered, including strategic location, comprehensive facilities, guaranteed security, and a more efficient cost of living. Apartments can be an ideal choice for many people, especially those living in big cities. Are apartments cheaper than houses? Compared to houses, where land prices increase by 10% to 20% per year, apartments are much more affordable. Several property developers are currently actively developing vertical housing to meet the property demand of the millennial generation. So, for Millennials, is it better to buy a house or an apartment? What should you pay attention to when buying an apartment?

1.  Set a maximum budget limit for purchasing an apartment. Consider other costs such as monthly fees, parking fees, maintenance costs and other fees that may be charged by the apartment manager. From the maximum limit of your budget, you will know what kind of apartment model you will be looking for. Take advantage of online property buying and selling sites to find information and compare various apartment options according to your budget.

2.   Choose a strategic apartment location, which is close to your workplace, close to your children's school, close to shopping centers, close to public facilities, and public transportation accessibility around the location is very easy to find. And most importantly, choose an apartment from a trusted developer.

3.    Pay close attention to the details of the condition of the apartment and the facilities offered. Check the physical condition of the apartment directly, make sure all the facilities offered are functioning properly, and you should check whether there is any damage, both inside and outside the unit.

4.      If you buy an apartment, make sure you understand the ownership status (Building Use Rights or Ownership Rights) and the extension of the building use rights if necessary. If you're considering renting an apartment, carefully read the entire lease agreement. You must understand your rights and obligations as a tenant. You should also pay attention to the lease terms, termination rules, and renewal policies.

These are tips that can be considered in your decision, whether it is better to rent or buy an apartment. If you are new to the world of apartments, consulting with someone who has experience in buying or renting apartments can provide useful insights and tips for you.