15 Things to Consider Before Buying a Flat

Buying your first apartment in Dhaka can be challenging due to the numerous offers and advertisements from various real estate companies. However, when you look around the city, you see many beautiful buildings you’d love to live in. Factors like location, infrastructure quality, utilities, and developer reputation are crucial in making a well-informed decision. 

Researching and evaluating these factors will ensure that your first apartment purchase is not only visually appealing but also a sound investment in your future comfort and security. But remember, looks aren’t everything. You have to consider some essential things before you find the perfect home.

15 Things to Do Before Buying a Flat

We have listed 15 essential things to consider when searching for a flat to help you buy your dream home. This list will help you avoid common risks.

Fix Your Budget

The first step is to determine how much money you can spend. Your budget could range from modest to extravagant, but once you have a number in mind, it’s easier to find apartments within your financial plan. You can also figure out if you’ll need a bank loan.

Select Your Prefered Location

Decide where you want to live. If you’re moving to a new area, learn about it first. Consider things like commuting and whether the apartment prices fit your budget. If you prefer a location, check out the surroundings to ensure it’s safe and convenient. Also, consider how the area might develop in the future—it can give you clues about how valuable your investment might be in the long run.

Research Market Prices

Before you buy, check the current market prices. Talk to people who recently bought apartments in the area and read the latest real estate news. Compare different developers and their offerings to see if the price is fair.

Explore Multiple Properties

Visit as many properties as you can. This way, you can find the apartment that best matches your needs. It also gives you a better understanding of the market, helping you make a more informed decision. Additionally, visiting different properties lets you assess location, neighborhood environment, transportation accessibility, and potential future developments, ensuring that your new home meets your immediate and long-term requirements.

Decide on Ready or Under-Construction Flats

Ready flats let you move in right away but can’t be customized. On the other hand, under-construction flats allow personalization but involve waiting for completion. Make sure the developer is reliable to avoid delays.

Consider Noise Levels

Think about the noise level in the area. Apartments on main roads can be noisy because of traffic. If you prefer a quieter place, choose a home away from busy streets. Also, consider the number of units on each floor. Single-unit homes offer more privacy but are pricier, while multiple units per floor are cheaper but less private.

Check Nearby Facility

Look for nearby amenities such as shops, bus stops, parks, hospitals, schools, and gyms. Living close to these facilities can save you time, especially with Dhaka’s heavy traffic. Access to these facilities ensures easy commuting, quick access to healthcare in emergencies, recreational opportunities, and educational institutions for families. This proximity can also contribute to the property’s resale value and overall desirability in this bustling city, where convenience is highly valued due to traffic congestion and urban density.

Assess Building Orientation

Look at how the apartment is oriented. Does it have a front balcony with a nice view or good sunlight? Or do other buildings block it and don’t get enough daylight? A well-oriented apartment offers a front terrace with good sunlight and views, ensuring better natural ventilation throughout the day. Conversely, apartments surrounded by taller buildings may experience limited daylight and airflow, affecting overall comfort and energy efficiency.

Look for Modern Utilities

Check if the building has modern utilities like common spaces, landscaped areas, rooftop facilities, and firefighting systems. These features can make your living experience more comfortable.

Maintenance Charges

Check the maintenance charges, such as municipal and property taxes, standard area upkeep, lift and generator maintenance, and staff wages. Make sure you include these in your budget to avoid surprises.

Carpet Area

Check the difference between the super built-up area and the carpet area. The super built-up area includes common spaces like lifts and stairs, while the carpet area is the actual floor space inside your apartment. Ensure you know the area you’re paying for, as the carpet area can be 30% less than the total built-up area.

Check Legal Issues

Make sure the apartment is government-approved and free from legal issues. Many illegal buildings are on unauthorized land, and you want to avoid getting involved in legal troubles. Check this before anything else.

Safety Measures

Security is non-negotiable. Check the building’s safety features, such as security services, CCTV surveillance, fire alarms, and emergency exits, and make sure they are satisfactory. Most reliable real estate companies will often provide documentation and certifications to demonstrate compliance with safety standards and regulations. Check how well the building is constructed and whether it follows all the building codes. 

Bank Affiliations

If you need a loan, it’s good to know that most banks provide loans for flats from reputable builders. Check which banks are affiliated with your builder. It helps you with financing and confirms the builder’s reputation. If there are no bank affiliations, reconsider your choice.

Dealer-Buyer Deed

When you’re ready to buy, you’ll sign an agreement with token money. This document will detail your ownership rights. Read it carefully before signing. Ensure it grants you proper ownership, has clear clauses, and is transparent. If anything seems off, ask for clarification or a revision.

Wrap Up

Buying a flat is simple if you do your research beforehand. Since it’s a lifetime commitment, make sure to choose wisely. Think through your decision carefully and stay well-informed. Buying a home can seem overwhelming, but it can be a smooth and enjoyable process with the proper guidance and information. Get advice from real estate experts to make better decisions and find a home that meets your criteria for a perfect home.