Two weeks ago, an ex-classmate came and asked me for advice. He was recommended by a friend to buy an apartment on the first floor, which is just on top of a restaurant. He was keen to buy it because the property was being offered to him at almost 20% below the market price.
After listening to him, I suggested to him to consider a few important factors before making a decision. It is important to listen as well as inspect when deciding which apartment is right for you, because discovering noisy neighbors and unwanted sound created by the restaurant below his apartment after signing the Sales & Purchase Agreement will be a nightmare for a lifetime.
Visit the apartment several times at different hours. The apartment is peaceful at
2am
; it doesn’t mean that it is that way at
4am
as the hawkers may be up early to prepare the food in the morning, thereby creating a lot of noise.
Make arrangements to see the apartment after school as well as at 8 or
9pm
at night. That will give you an idea of after-school and after-work noise levels.
Also, visit the apartment around 11 or 12pm, to check whether the restaurant is still operating and creating the noise that will prevent you from having a good night’s sleep.
Check out exactly when the restaurant opens and closes. Will the opening and closing of the gates and roller shutters keep you awake?
Check out who are the neighbors. Are they regular party animals that will sing and shout until 2 or
3am
?
If you are planning to purchase the apartment for rental collection purpose, then it is also best to check what the current market rental for similar apartments is and whether there is demand for your possible future purchase.
Remember, it is best to discover problems before you sign the S & P Agreement rather than after. It is best to do a little bit of homework before you purchase.
