Buy a condominium apartment

 What do you need to bear in mind when buying an apartment in a condominium?

When you purchase a condominium, you are buying your private residential unit along with co-ownership of the common areas of the property, e.g., the roof, the facade and technical rooms. Condominium ownership comes with rights and obligations. Many people underestimate these obligations.

First-time buyers should be especially careful to check all of the following aspects:

• Condominium community regulations: What are the rules about use and management of the property?
• Additional costs and reserves: What are the running costs? How is the renovation and repair fund financed?

• Renovations: Are there any planned renovations that could result in additional costs?
• Ownership structure: Does the community consist mainly of owner-occupiers or renters?
• Records of meetings: What decisions have been made in community meetings to date?

This information will give you a realistic insight into ongoing commitments and potential challenges, helping you to avoid conflicts or additional costs later on.