Buying an apartment: 12 things to check before you make an offer
Co-ownership, the reserve fund, managing agent fees and planned works explained clearly.
9 min read
When you buy an apartment, you are buying not only a private home but also a share of the common parts. So read the master deed and the co-ownership regulations.
Ask for the minutes of recent general meetings. They often mention planned roof work, façade renovations, lift replacements or discussions that affect future costs.
Check the working capital and reserve fund, any payment arrears and how the shares are allocated. Low monthly charges are not always good news if major works have not been properly provided for.
Also consider the floor, orientation, noise, privacy, terrace, cellar, parking space and the technical condition of the shared installations.
Compare the asking price with recent sales in the same building and the neighbourhood, adjusting for floor area, condition, outdoor space and energy performance.
