1. Location: Pay attention to the area where the flat is situated. Factors such as proximity to amenities, transportation links, schools, and safety should be considered.
2. Condition of the property: It is important to inspect the condition of the flat thoroughly. Look for any signs of structural issues, dampness, or other potential problems that may require costly repairs.
3. Leasehold or share of freehold: Determine whether the flat is leasehold or share of freehold. Having a share of freehold in your property grants you greater ownership and control over the building.
4. Service charges and maintenance: Check the service charges and maintenance costs associated with the flat. These fees contribute towards the upkeep of communal areas, repairs, and other shared expenses.
5. Legal aspects: Ensure that all legal documents, including title deeds and planning permissions, are in order. It is advisable to hire a solicitor who specializes in property law to handle the legal aspects of the purchase.
Remember to conduct thorough research, seek professional advice when needed, and carefully consider these factors before purchasing a flat.