Classified ads - Apartments for sale or rent

Buying an apartment for sale with the normal run-of-the-mill defects like leaky faucets, rotting wood floors, or moldy walls is one thing. What happens, however, when the apartment for sale that you’re interested in has problems that can’t be fixed, no matter was is done? Often times that is the case, as the property that you’re thinking about buying has what’s known as incurable defects.

Incurable defects can be just about anything that you can’t fix. Here’s a short list of some of the more common incurable defects that you might find when searching for an apartment for sale. Note that apartments might have some specific incurable defects that are only related to apartments (private residences might have these issues).

· The exterior of the apartment is not attractive

· The paint is peeling on the outside of the apartment building

· The apartment for sale doesn’t have central heating and air conditioning (and the owner doesn’t want it installed)

· No elevator

· No pool

· Limited parking

· Located close to freeway noise

· Located far from shopping

· Located in bad school district.

What do you do now?

Once you make a shortlist of all the incurable defects, you’ll need to make a decision if the apartment for sale is worth it to buy. If the property has other redeeming features, then you might still want to consider the purchase. Here are some redeeming features that might be worthwhile to consider:

· Good price

· Large bedrooms

· Nice floor plan

· Top-of-the-line kitchen

· Nicely landscaped gardens and public spaces

· Attractive lobby

· Nice neighbors.

Weigh the pros and cons

Once you’ve made a list of the pros and cons, then give ratings to each factor. For example, if the fact that an apartment is listed at a good price is really important to you, then rate it a 10 out of 10. The same goes for the “cons.” If you really prefer central heat and air, then give it a 9 out of 10 on the negative scale. Once you’ve rated all the factors, add them up and see which side has the highest score. If the “pro” side has the top score, then consider the purchase; otherwise, keep on searching.