Apartments for sale buyer’s guide, costs, and checklist

Set budget and financing

Start with a realistic total budget, not just the list price. Add closing costs, transfer and registration fees, bank charges, legal services, taxes, move-in expenses, and at least three months of emergency reserves. Determine a down payment you can comfortably afford, then model monthly costs: mortgage, association dues, utilities, insurance, parking, and routine maintenance. Keep your debt-to-income ratio conservative so you can handle rate changes or unexpected repairs without stress. Get pre-approved by two lenders to compare true, all-in rates and fee structures; lock the rate when timing aligns with your target purchase window. If you’re considering a developer’s in-house financing, benchmark it against bank offers and evaluate any teaser periods, balloon payments, or penalties for early settlement. Clarify the payment schedule, especially for properties under construction, and maintain a contingency buffer for price adjustments or upgrades. Finally, define your non-negotiables—bedroom count, pet policies, parking, proximity to transit—so each viewing stays anchored to your budget and lifestyle. With numbers and needs fixed, you can move quickly on the right unit while avoiding impulse buys that strain your cash flow.

New builds vs ready-to-move

New developments often deliver modern layouts, energy-efficient materials, and fresh amenities, plus developer warranties and the potential for early-bird pricing. You may also customize finishes during pre-selling stages and benefit from phased payment schedules tied to construction milestones. However, factor in construction risk: delays, changes in surrounding infrastructure, or evolving association rules before turnover. Ready-to-move units provide immediate clarity—you can judge actual sunlight, noise levels, elevator speed, lobby flow, and neighborhood vibe at various hours. Need the keys fast? With lived-in buildings, you can review historical utility bills, association dues, special assessments, and maintenance practices to understand true ownership costs. Inspect common areas for wear, check water pressure on higher floors, and confirm generator coverage for lifts and essential services. In both cases, research the developer’s track record for on-time delivery and post-turnover support. Ask for snagging and punch-list processes, defect liability periods, and service-level commitments. The best choice aligns your timing, risk tolerance, and preference for certainty versus customization.

Inspect, verify, and close

Schedule daytime and evening visits to measure natural light, traffic noise, and foot traffic. Test water pressure, check ventilation in kitchens and baths, and look for moisture marks around windows and ceilings. Evaluate corridor lighting, CCTV coverage, access control, fire exits, alarms, and sprinkler systems. Time elevator waits during peak hours and examine parking layout, turning radii, and security protocols. Walk the neighborhood to gauge safety, groceries, clinics, gyms, parks, and commuting options; note any flood history or ongoing infrastructure works that could affect access. For documents, verify the title or master deed, building permits, occupancy certificates, and the developer’s licenses. Review association bylaws, pet rules, rental policies, dues, and reserve-fund health to avoid surprise assessments. In the contract, scrutinize timelines, payment triggers, penalties for delay, acceptance criteria at turnover, and defect-liability terms. Arrange an independent appraisal if financing requires it, and do a final walk-through with a checklist before releasing the last payment. Capture everything in writing to ensure a smooth handover and a predictable first year of ownership.

Location, lifestyle, and amenities

Choose a building that fits daily routines and long-term plans. Map commute routes at peak times, check access to transit, and identify essentials like supermarkets, pharmacies, clinics, and schools. Visit at different hours to observe foot traffic, lighting, and neighborhood noise. Evaluate amenities with a cost–benefit lens: a gym, pool, concierge, co-working lounges, play areas, EV charging, bike racks, and storage cages add convenience but also raise dues. Confirm operating hours, guest policies, reservation systems, and maintenance standards so amenities remain usable and safe. Ask about building-wide connectivity, mobile signal strength, and available internet providers to avoid work-from-home bottlenecks. Review pet policies, short-term rental rules, move-in scheduling, and elevator booking procedures to prevent friction after purchase. Look for evidence of proactive management—clear housekeeping schedules, preventive maintenance logs, and transparent notices. Study the association’s financial statements, reserve studies, and history of special assessments to gauge future fee stability. Favor locations with planned infrastructure, green spaces, or retail growth that support livability and potential resale value without overpaying for features you will rarely use.

Offers, negotiation, and timeline

Ground your offer in data. Pull comparable sales in the same building and nearby, adjusting for floor height, view, parking, balcony, and renovation quality. Track days on market and price reductions to spot motivated sellers or units priced above trend. Ask for an itemized breakdown of association dues, move-in fees, and developer or broker incentives, then translate them into net price. Structure clean terms: adequate earnest money, a clear inspection period, and financing contingencies aligned with lender timelines. Request inclusions such as major appliances, blinds, water heaters, or parking rights, and document them in the contract. If buying pre-completion, tie payments to verifiable milestones and include remedies for delay. Align closing with your rate-lock window and moving plans; book movers and elevator slots early to avoid rescheduling fees. Communicate in writing, maintain a deal checklist, and set weekly checkpoints with your agent, lender, and conveyancing counsel. Before signing, confirm title status, taxes, and any liens. A disciplined, numbers-first approach increases negotiating power, reduces surprises, and keeps the path from offer to keys smooth and predictable.

Bottom line

Define your numbers, choose timing certainty, inspect meticulously, and close only when the unit, documents, and costs align with your long-term plan.