How to buy a flat inexpensively and without risk

Buying a flat affordably and without risk requires careful planning and a number of steps. Here are guidelines that can help you buy a home affordably and with minimal risk:

1. Determine your budget:

  • Determine the maximum amount you can spend on a flat, including not only the purchase price but also additional expenses such as taxes, commissions and repairs.

2. Searching and analysing the market:

  • Research the property market in the area you are interested in. Pay attention to average housing prices and the dynamics of price changes.
  • Look for options both on property websites and through realtors.

3. Choosing a neighbourhood:

  • Decide on your priorities: proximity to work, schools, shopping, public transport and other important facilities.
  • Choose a neighbourhood that suits your needs and financial capabilities.

4. Assess the condition of the flat:

  • When inspecting a flat, pay attention to the condition of walls, ceilings, plumbing, electrical wiring and other systems.
  • Conduct a thorough inspection to avoid hidden problems.

5. Document verification:

  • Make sure the seller has all the necessary documents to prove ownership of the flat.
  • Check the legal cleanliness of the property and possible encumbrances (mortgages, arrests, etc.).

6. Legal support:

  • Hire a lawyer or a real estate agent to provide legal support for the transaction. He or she will help you understand all aspects of the transaction and ensure its legality.

7. Haggling:

  • Don’t hesitate to haggle. Sellers are often willing to lower the price, especially if you have an argument (e.g. the condition of the flat or an urgent sale).

8. Mortgage and financing:

  • If you plan to take out a mortgage, compare the conditions of different banks and choose the most favourable offer.
  • Make sure you can afford to pay the monthly mortgage payments without breaking your budget.

9. Signing the contract:

  • After agreeing all the terms of the deal and getting approval from the lawyer, sign the purchase agreement and close the deal.

10. Residential Permit:

  • Make sure you have all the necessary permits to live in your new flat and complete all the legal formalities.

11. Regular payments:

  • Remember that buying a flat is a long-term commitment. Keep a constant eye on your finances and pay all the instalments on time.

12. Insurance:

  • Consider insuring your property against various risks such as fire, theft and property damage.

Take your time and do your inspection and analysis carefully to avoid unwanted surprises. Repairs and regular maintenance can also help reduce risks and keep your property in good condition.