When you have been renting great houses and apartments for a period of time, you slowly come to the realization that instead of spending eye watering amounts on rent every month you could just buy your own apartment with all of that money. Of course if you are buying your own apartment, there are many things that need to be thought of. By educating yourself on the do and do not’s, you can avoid putting yourself in unfavorable situations and bad deals and also save yourself a lot of time and hassle.

You should put a lot of effort into deciding the location you want your apartment at. Decide on a location that is favorable for you in terms of how far it is to your workplace or gym, the distance to work for your significant other and the availability of good schooling options for your kids. This part requires in depth research into the area. 

The next step is to find out the average market price for the apartments around that area. For example if you are seeking 2 bedroom accommodation, then you should research into the prices of similar accommodation Melbourne City in the area you are interested. You can accomplish this task by talking to valuers who do such tasks, real estate agents or looking up purchases in recent history on the internet or through word of mouth. Steer clear of words of advice by the seller and his or her agent. This is extremely critical especially if you are buying an apartment before it is finished simply by looking at the plans. You need to have an assurance that the finished flat will be worth the price you have spent on it.Once you have decided on an apartment you lie, think of issues like how close it is to public transportation and if the apartment building is close to noisy places like musical venues, grounds, shopping areas and how close it is to the roads and if the passing vehicles would be a pain to your ears.

You should also check the age of the building. If possible try and take an engineer’s report on the state of the apartment building before proceeding. In the process of that, ask the apartment management what security measures are in place for the protection of the tenants. If your apartment has a balcony, look if there are buildings that block the view and prevent you from enjoying the sun. if you have a car, inquire about the status of paring and if you are required to pay for parking and if you are even entitles for parking spots.