{"id":5409,"date":"2021-05-06T09:38:42","date_gmt":"2021-05-06T07:38:42","guid":{"rendered":"http:\/\/oakconstructora.vl29103.dinaserver.com\/5-things-to-consider-before-buying-an-apartment\/"},"modified":"2026-08-06T16:14:13","modified_gmt":"2026-08-06T14:14:13","slug":"5-things-to-consider-before-buying-an-apartment","status":"publish","type":"post","link":"https:\/\/oakconstructora.com\/en\/5-things-to-consider-before-buying-an-apartment\/","title":{"rendered":"5 things to consider before buying an apartment"},"content":{"rendered":"\n<span style=\"font-weight: 400;\">Your moment has arrived. The one you&#8217;ve dreamed of:<\/span> <b>buying an apartment<\/b> <span style=\"font-weight: 400;\">. But before embarking on this exciting new adventure, you should consider a few factors to ensure a successful purchase. We&#8217;ll tell you what they are.<\/span> \n<blockquote><a href=\"https:\/\/oak2000.com\/consejos-comprar-piso-barcelona\/\" target=\"_blank\" rel=\"noopener\"><b><i>You might be interested in: Tips for buying an apartment in Barcelona<\/i><\/b><\/a><\/blockquote>\n<h1><span style=\"font-weight: 400;\">The orientation and location of the property<\/span><\/h1>\n<span style=\"font-weight: 400;\">The orientation and location of the property are two of the most important things when deciding<\/span> <b>to buy an apartment<\/b> <span style=\"font-weight: 400;\">.<\/span> \n\n<span style=\"font-weight: 400;\">Orientation<\/span> <span style=\"font-weight: 400;\">directly relates to the amount<\/span> <b>of<\/b> <b>sunlight<\/b> <span style=\"font-weight: 400;\">and<\/span> <b>heat<\/b> <span style=\"font-weight: 400;\">generated by direct sunlight. An apartment that receives sunlight not only provides greater comfort but can also save you<\/span> <a href=\"https:\/\/oak2000.com\/ecodiseno-union-estetica-sostenibilidad\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">money on heating<\/span><\/a> <span style=\"font-weight: 400;\">and lighting.<\/span>\n\n<span style=\"font-weight: 400;\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-13462 size-large\" src=\"https:\/\/oak2000.com\/wp-content\/uploads\/2021\/05\/consejos-comprar-piso-1-819x1024.jpg\" alt=\"tips-for-buying-apartment\" width=\"819\" height=\"1024\" title=\"\"><\/span>\n\n<span style=\"font-weight: 400;\">Location<\/span> is also an important <b>factor<\/b> <span style=\"font-weight: 400;\">when buying a home because, even if you have a vehicle, if you have to<\/span> <b>travel<\/b> <span style=\"font-weight: 400;\">to spend time with your family, go to work, communicate with commercial establishments, etc., in the long run the distance can put a big dent in your wallet.<\/span> \n\n<span style=\"font-weight: 400;\">Furthermore<\/span> <span style=\"font-weight: 400;\">, enjoying a good location, that is,<\/span> <b>buying an apartment in a well-connected city,<\/b> <span style=\"font-weight: 400;\">will<\/span> <span style=\"font-weight: 400;\">allow you to have a varied cultural offering, ease in the use of public transport, noise, and so on.<\/span><span style=\"font-weight: 400;\">  <\/span>\n<h2><span style=\"font-weight: 400;\">The value of the property<\/span><\/h2>\n<span style=\"font-weight: 400;\">It&#8217;s necessary to know the<\/span> <b>real cost of the apartment<\/b> <span style=\"font-weight: 400;\">. Although this amount will vary depending on the state of the real estate market, you can find out the property&#8217;s value at the Land Registry, which is determined by factors such as location.<\/span>\n\n<span style=\"font-weight: 400;\">This amount will be lower than the market value, however, it will give you an idea of \u200b\u200bthe cost of<\/span> <b>buying the apartment<\/b> <span style=\"font-weight: 400;\">. Determining the property&#8217;s value is essential for<\/span> <b>planning your finances before taking out a mortgage.<\/b>\n<blockquote><a href=\"https:\/\/oak2000.com\/hay-ayudas-para-reformar-una-vivienda\/\" target=\"_blank\" rel=\"noopener\"><b><i>More information: Are there any grants available for home renovations?<\/i><\/b><\/a><\/blockquote>\n<span style=\"font-weight: 400;\">A mortgage simulator will allow you to see the down payment, the expenses involved, and the monthly payments. It also allows you to adjust these amounts for both<\/span> <b>fixed-rate and variable-rate mortgages<\/b> <span style=\"font-weight: 400;\">.<\/span>\n<h2><span style=\"font-weight: 400;\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-13466 size-large\" src=\"https:\/\/oak2000.com\/wp-content\/uploads\/2021\/05\/consejos-comprar-piso-3-1024x1024.jpg\" alt=\"tips-for-buying-apartment\" width=\"1024\" height=\"1024\" title=\"\"><\/span><\/h2>\n<h2><span style=\"font-weight: 400;\">Apartment expenses to consider  <\/span><\/h2>\n<span style=\"font-weight: 400;\">The best way to prevent surprises and ensure your budget aligns with the investment is to have a clear understanding of the apartment&#8217;s maintenance costs. These are the most important ones to consider: <\/span>\n<ul>\n \t<li style=\"font-weight: 400;\" aria-level=\"1\"><b>The cost of supplies<\/b> <span style=\"font-weight: 400;\">. You should ask yourself if the energy distribution and collection systems meet your needs and how they influence energy consumption, as well as their condition.<\/span><\/li>\n \t<li style=\"font-weight: 400;\" aria-level=\"1\">Property Tax <b>(IBI<\/b> <span style=\"font-weight: 400;\">) is essential. You need to know the amount when you buy the property.<\/span> <\/li>\n \t<li style=\"font-weight: 400;\" aria-level=\"1\"><b>The homeowners&#8217; association<\/b> <span style=\"font-weight: 400;\">. Since apartments are part of buildings, they are governed by homeowners&#8217; associations. We need to be clear about what we will be paying monthly for these services and understand the association&#8217;s financial situation to determine if it is stable or has a high rate of non-payment.<\/span> <\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">How much can you ask the bank for to formalize a mortgage?<\/span><\/h2>\n<span style=\"font-weight: 400;\">As a general rule,<\/span> <b>the bank will finance up to 80% of the property price,<\/b> <span style=\"font-weight: 400;\">excluding closing costs, notary fees, and other related expenses. The average cost of these expenses associated with purchasing a property ranges from 10% to 15%.<\/span>\n\n<span style=\"font-weight: 400;\">In addition, banks<\/span> <b>will consider your expenses and income<\/b> <span style=\"font-weight: 400;\">. Except in very specific cases, the general rule limits<\/span> <b>your mortgage capacity to between 35% and 50% of your expenses,<\/b> <span style=\"font-weight: 400;\">based on the actual cost of the house.<\/span>\n<h2><span style=\"font-weight: 400;\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-13464 size-large\" src=\"https:\/\/oak2000.com\/wp-content\/uploads\/2021\/05\/consejos-comprar-piso-2-1024x540.jpg\" alt=\"tips-for-buying-apartment\" width=\"1024\" height=\"540\" title=\"\"><\/span><\/h2>\n<h2><span style=\"font-weight: 400;\">Are there any outstanding charges?  <\/span><\/h2>\n<span style=\"font-weight: 400;\">It is essential to verify if the apartment is<\/span> <b>vacant<\/b><span style=\"font-weight: 400;\"> <\/span><b>Regarding encumbrances.<\/b> <span style=\"font-weight: 400;\">To verify<\/span> <span style=\"font-weight: 400;\">the status of the house you are going to buy, you can go to the<\/span> <b>Property Registry<\/b> <span style=\"font-weight: 400;\">to request a Simple Informative Note.<\/span><b> <\/b><span style=\"font-weight: 400;\">This document contains crucial legal information such as the following:<\/span>\n<ul>\n \t<li style=\"font-weight: 400;\" aria-level=\"1\"><b>The description of the dwelling<\/b> <span style=\"font-weight: 400;\">along with the location, type of dwelling, the built and usable area, polygon, plot, cadastral reference and horizontal division.<\/span><\/li>\n \t<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Ownership of the apartment<\/b> <span style=\"font-weight: 400;\">.<\/span> <\/li>\n \t<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Liens such as mortgages and other debts<\/b> <span style=\"font-weight: 400;\">. These liens are on the property and not the owner; therefore, if they are not paid off, they become your responsibility.<\/span><\/li>\n<\/ul>\n<span style=\"font-weight: 400;\">The most important thing is to keep in mind that this is one of the most important decisions of your life, and take all the time you need to make sure you buy the apartment you want safely and under the best conditions.  <\/span>\n\n<span style=\"font-weight: 400;\">An economical option for buying an apartment is to do so at a public auction<\/span> <a href=\"https:\/\/oak2000.com\/reformas\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">or to buy a property to renovate<\/span><\/a> <span style=\"font-weight: 400;\">. This will allow you to lower your monthly mortgage payments and gradually customize your home to your liking.<\/span> \n","protected":false},"excerpt":{"rendered":"<p>Your moment has arrived. The one you&#8217;ve dreamed of: buying an apartment . But before embarking on this exciting new adventure, you should consider a few factors to ensure a successful purchase. We&#8217;ll tell you what they are. You might be interested in: Tips for buying an apartment in Barcelona The orientation and location of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[212],"tags":[],"class_list":["post-5409","post","type-post","status-publish","format-standard","hentry","category-comprehensive-reform"],"acf":[],"_links":{"self":[{"href":"https:\/\/oakconstructora.com\/en\/wp-json\/wp\/v2\/posts\/5409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/oakconstructora.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/oakconstructora.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/oakconstructora.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/oakconstructora.com\/en\/wp-json\/wp\/v2\/comments?post=5409"}],"version-history":[{"count":1,"href":"https:\/\/oakconstructora.com\/en\/wp-json\/wp\/v2\/posts\/5409\/revisions"}],"predecessor-version":[{"id":5411,"href":"https:\/\/oakconstructora.com\/en\/wp-json\/wp\/v2\/posts\/5409\/revisions\/5411"}],"wp:attachment":[{"href":"https:\/\/oakconstructora.com\/en\/wp-json\/wp\/v2\/media?parent=5409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/oakconstructora.com\/en\/wp-json\/wp\/v2\/categories?post=5409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/oakconstructora.com\/en\/wp-json\/wp\/v2\/tags?post=5409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}