Tip 91: Selecting an apartment unit

These days, when land is scarce and population is growing, apartments, condos and high rises are beginning to be the norm in any city, instead of just an alternative housing lifestyle. They used to be only an alternative for better shared facilities, less upkeep of garden space and tighter security control, but especially in major cities where land prices are expensive, apartments may now be the only option instead of houses. I wrote about considerations when buying a property which is more related to the financial decision making in deciding whether to rent or to buy. Besides that, there are also considerations in selecting the particular apartment unit, and I found this Tokyo property guide very useful. I once had a dream of travelling and relocating my family in different countries. Even the thought of having a child born in different countries, thereby giving the child the option of different nationalities and providing our family with numerous mobility options in today's global world. Looks like this would soon happen, all praises to God who alone could make it happen, with my relocation to Hong Kong and London, and the need to apply such tips in different countries. Also learning that this is a corporate decision with my wife as we need to be happy together always, but there are some general apartment selection tips that work in most situations, though I realized without school going kids yet, the decision is less difficult.

Sitting down together to decide priorities should be the starting point. Some key considerations include commute time to work; prices and rents of different locations; facilities, proximity to shopping and recreation, neighbours, communities and safety, general environment in different locations; minimum space requirements and number of bedrooms. Interestingly, I read this article about people who buy houses that are larger than they can afford, end up spending more on longer debt payments, increased taxes, higher upkeep and more things to fill the house with and do not end up getting rich. Yet besides these, the need for adequate sunlight and ventilation into the apartment can save not only energy consumption, but the number of visits to the doctor. Ventilation introduces fresh air which dilutes the concentration of potential disease and infectious particles, thereby reduces the likelihood of transmission of diseases. It also prevents mold which can cause sinus and asthma problems. This can be a problem in many compact apartments which needs to be spotted early before a decision is made. Of late, there have also been many cheaper materials and renovation workmanship offered by developing countries such as China and one needs to inspect the quality carefully. Fixtures such as kitchen cabinets, door hinges and handles and wooden flooring would feel differently under more inferior workmanship and quality of materials. They may be meant to last for just a few months to a year under more careful usage and not suitable for families with young kids. If the decision is to rent an apartment, good relationships with a helpful agent and landlord is key to ensuring any such problems are resolved speedily and maintenance carried out responsibly.

Do you have any other pointers you found helpful yourself? Do share it. Oh yes, its 9 more tips before Tip 100 which would be the contest everyone is waiting for. Stay tuned.