How to choose a home or apartment? Ten recommendations to avoid regrets

Buying a house or apartment is one of the most important decisions for a person or family. It requires a deep analysis, from economic income to choosing the right place, because in some cases it is where you will live for a lifetime or the property that will be inherited from your children.

Three experts on the subject detail a series of recommendations to choose the right property and attached to the needs of the user.

Valeria Burneo, head of external sales at Uribe Schwarzkopfhighlights that the location is essential because it defines the current value and future projection of the property.

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For Giovanni Burgos, commercial manager of Dibiens SAit is also necessary to check if the location offers complementary services such as shopping centers, children’s games and recreational areas.

But in addition to this set of recommendations, according to Daniel Elmir, CEO of Elmir Constructoreswarns that people should focus on finding a quality home or apartment, as well as their common areas and above all verify the seriousness of the construction company in order to invest safely.

Here are ten recommendations to keep in mind:

1. Analyze your income

According to Burneo, no more than 30% of revenue can be pledged for the payment of the quota of a house or apartment. For example: if the salary is $1,200, an approximate monthly value of $360 would be paid, which would replace a rent.

This percentage is suggested because in the home you also have to cover other items such as basic services, food, transportation and education.

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For Burgos can be up to 40%. For example: with a salary of $1,000, $400 can be committed. “The client can always allocate the maximum 40% of their monthly family income for the acquisition of real estate, be it a house or apartment… so that they comply with the variable required by financial institutions to grant this loan”, says Burgos.

2. Choose the right location

After analyzing the income comes the decisive moment: choosing the site. According to experts, you should be careful in this regard.

“You have to ask yourself, what is the sector where we move daily? A location close to public transport is essential in the purchase decisionElmir says.

So also there is a easy access to shopping centers, schools, the workplace and that it is envisioned as an investment sector.

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“The moment you want to change that unit for another, the sale will be easy because you bought in a good location and with good finishes. It is not something that will tie you up until the end of your days. It will be easy to sell to acquire what you are looking for at that moment. So, when you analyze the location, you are evaluating where the city is going to develop”, says Burneo.

3. Deciding on a house or apartment

This point depends on the needs and tastes of the user. For example, if it is a house with one or more floors, at least three bedrooms, laundry room, living room, dining room, bathrooms, garage and a large patio will be sought.

If it is an apartment, it can have the same aspects without counting the patio, but a balcony would be added. Here you also analyze which floor you want to buy the apartment on.

In both cases, if it is a housing complex, It is important to look at recreational areas such as parks, soccer fields, BBQ area, among others. And have a security plan.

4. Determine permanence

It is important to understand that a home in principle should not be for life and that it is good to change it over time according to needs, says Elmir.

“My recommendation in the case of investments is to keep them for a period not exceeding ten years and make a change. It is the most appropriate time to maximize profits”, suggests the expert.

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Burgos agrees with this, who indicates that currently real estate projects not only refer to houses or apartments, but to life cycles. “In other words, it has the project that allows access to what I, as a client, require. Example, if I am a person who is married and has a nine-year-old son, analyze which schools and colleges are around, what access do I have to carry out my activities… but today there are several real estate proposals that allow you to change after a few years of type of housing”, he comments.

5. Choose the construction company properly and investigate the finishes

For Burneo, the key point is to find out the trajectory of a real estate agency. “I believe that the important thing is the number of years that they are building, the projects delivered. Do not put your money to buy plans in a construction company that does not have a track record ”, he recommends.

Elmir adds that, in this search, project permits and approvals need to be investigated. “The track record and solvency of the developer company must be analyzed in order to have an absolute guarantee on the money that we are going to invest.”

The finishes for Burgos are also a matter to consider in this inquiry. Analyze the quality of materials used in other constructions such as porcelain on the floor, creepers, glass, granite or quartz countertops. “Everything must be in accordance with the quality-price that is being acquired,” he mentions.

6. Review documents before signing

Burneo suggests not delivering any amount of money without having signed a legalized promise of salewhich must be reviewed by the buyer’s lawyer.

In addition, according to Burgos, it is important to request documents attached to the promise of sale, such as:

• Plans of the housing unit.
• Parking location plans (if it is an apartment).
• Technical specifications (finishes).
• Promotion letter offered at the time of purchase.
• Payment table agreed with the dates and values ​​established in the initial negotiation.

7. Consult some specifications of the construction company

Before choosing a housing model, it is important to be sure if it meets your needs and tastes. There are cases where customers want to change along the way. So it is important to consult all those details and be clear about the panorama. For example, Burneo indicates that in Uribe Schwarzkopf there is the option to choose a design and make changes to it. Such as the larger room and reduce the space of a bedroom or vice versa.

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8. Pay attention to the guarantee

For Burgos it is essential to carry out this consultation even before the purchase. “All new construction has a ten-year structural guarantee for civil liability, by signing the definitive sale you automatically access this guarantee”, he points out.

In fact, this is detailed in the Article 1937 of the Civil Code, in the third clause, which indicates that if a home or building suffered some type of damage to the infrastructure or structure, within ten years, the professional who did the work will be responsible for repairing the problems.

According to Elmir, the guarantee is linked to the seriousness of the builder. “Serious builders deliver an owner’s manual in which all the periods and conditions for the guarantees are indicated,” he points out.

9. Remember that an aliquot will be paid

The rates are paid in urbanizations or a housing complex to cover security expenses, maintenance of common areas, among others. If it is an independent property, in a sector or neighborhood, it is not contemplated.

“The rate is important and must be taken into account from day one so as not to have surprises. Sometimes people think that only by paying the monthly credit are all the expenses and it is not like that”, highlights Elmir.

Burgos agrees with this, who indicates that the rate is monthly.

For example in Daule urbanizations, the value ranges between $60 and $80 per month. In Samborondón, it is charged per square meter, in some projects the cost is $1.50 per square meter purchased.

10. Take into account future adaptations

It should be taken into account that homes are not normally equipped with living room, dining room or bedroom furniture, likewise, there are interior design adjustments that are made to suit each client, Elmir says.

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Faced with this, Burgos advises have a budget between $3,000 and $5,000 to carry out post-delivery work on the property. “The most common occur in the case of houses in the patios where they adapt the laundry area with acrylic roofs, BBQ areas with pergolas, place synthetic grass or artificial gardens. In the case of departments, this budget is used more to make internal divisions of the closets and shelves and place some additional furniture as a storage room”, explains Burgos.

How to know the ideal sector to buy a home or apartment?

According to Burneo, the largest cities are adequate. In Quito, the sector of good investment is the center-north. “In the surroundings of the La Carolina park it is highly demanded and appreciated. Cumbayá and Tumbaco as well”, says Burneo.

He adds that in Guayaquil, the Santa Ana port It is a good sector to invest in, as in the beach.

Instead, Burgos considers that the via Daule as in La Aurora It is appropriate in homes and apartments, the Via Samborondón.

“Due to the commitment of private real estate developers to the development of both areas that have placed a variety of urban projects,” says Burgos. (YO)