A childhood friend of mine recently signed to buy her second apartment. I think I was happy and flustered. It's not that I don't have money to buy an apartment - but I feel like it's inertia. Once you've bought one property, it gets so much easier to buy your second one, and then some. I've been going on and about like a hamster on his wheel. I've been intending to buy some property - as an investment, just something that seems like a financially smart person would do. But it just seems like it's not straight forward.
- Taxes.
- Hidden fees.
- How do you know if it is a good locality?
- How do you know if it is disputed land?
- How do you know if the apartment is built on legally okay land (I can think of a case in India a few years ago - where in after years of residents living in the building, the court came out with a ruling that the land on which the apartment was built, was not legally okay - the land worsened the impact of floods and was not environmentally fit for construction). The building was demolished. Hundreds of residents lost their home in a matter of hours.
- Which real estate agent do you trust?
- How do you know if the construction quality is good?
- How do you know if it is good value for money?
- Phew - it's a lot - ain't it?
So I applaud my friend for her 2nd apartment.
SS
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