How to buy your first apartment?

Buying an apartment is a large investment and one that you don’t want to get wrong. Here are some smart tips that will get you the apartment of your dreams.

Decide where you want to live – Look for an area that is suitable for your current and future needs. For example, if you are working in the city, buying an apartment in the city is a good investment. However, if you are planning on starting a family soon, you may need a larger apartment, and therefore you may need to look at other more affordable areas.

Determine how much you want to pay – Meet with a loan officer and understand how much of a loan you can take. Consider how much of your income you can put away each month for your mortgage.

Find a real estate agent – A good real estate agent will show you apartments that are within your budget and those that fit your requirements.

Write an offer – If you see an apartment that you like, you can ask your real estate agent to write you an offer on your behalf.

Additional costs – Most apartments will include additional costs like inspection costs, loan origination fees, up-front points, application fees, a title search and title insurance, Ask your real estate agent to create a document that lists down all the additional costs you will have to incur.