What to Consider When Buying an Apartment from a Project?

If you are considering buying an apartment from the project, you can find all the information you need to make informed decisions about land share details, project flexibility and revisions during the construction process in this guide.

Buying an apartment from projects can be an attractive option for those who want to own a house. However, there are many important factors to consider in this process. Here are the critical factors you should consider when buying an apartment from a project:

1. Land Share Details

Land share determines the ownership rate of each independent section in a building on the land and directly affects the value of the real estate. Carefully examining the land share details when purchasing an apartment from the project is of great importance for your future rights and the value of your property.

Since contractors have the authority to revise projects, changes in the number of floors of the building or other revisions in the project plans may affect your land share. For this reason, you should make sure that your land share is clearly defined at the contract stage.

Frequently Asked Questions

1. What is land share and why is it important?
Land share refers to the proportion of ownership each apartment in a building has over common land. A correctly determined land share allows you to maintain the real value of your property and make fair use of the common areas.

2. Will my land share change when the contractor revises the project?
Yes, changes in the project may affect your land share. For example, adding additional floors to the building or increasing the number of apartments may result in a recalculation of the land shares of existing apartments.

3. How can I secure my share of the land?
It is important to clarify the land share details before signing the contract and include this information in the official documents. Also, working with a reliable and transparent contractor will help you protect your rights.

2. Project Flexibility and Future Changes

Projects may be revised for different purposes over time. A project that was initially planned as a residential property may later be converted to commercial or other uses. Such changes may affect the value and intended use of the apartment you purchase.

It is important to be informed about the flexibility of the project and possible changes in the future so that your long-term plans are not disrupted and you do not encounter unexpected surprises. Before purchasing, it will be useful to do detailed research on the project's zoning plan, intended use and the contractor's past projects.

Frequently Asked Questions

1. Can the intended use of the project change later?
Yes, the intended use of the project can be changed by the developer or relevant authorities. Therefore, it is important to get clear information about the project's zoning plan and intended use.

2. Why is project flexibility important to me?
Project flexibility can affect the future value and potential use of your apartment. For example, converting a residential project into a commercial space may negatively affect your living standards and return on investment.

3. How can I be informed about future changes?
Regular communication with the contractor and keeping a close eye on project progress will help you to be informed of any changes in a timely manner. It is also useful to monitor official announcements and zoning plan changes.

3. Revisions in the Construction Process

Various revisions can be made to projects during the construction process. Even if the condominium easement has been issued, contractors may make changes to the project, which may affect the features of your apartment. Even large construction companies may update their projects in line with market conditions, technical requirements or customer demands.

It is therefore important to know how the apartment you intend to buy will be affected by possible revisions in the construction process and how these changes will affect the value or use of your property. Including clauses in the contract about the scope of the revisions and how your rights will be protected will prevent future disputes.

Frequently Asked Questions

1. How can revisions made during the construction process affect my apartment?
Revisions can affect the square meter area, number of rooms, view or location of your apartment. These changes can increase or decrease the value and comfort of your apartment.

2. How can I protect my rights regarding revisions?
The scope of revisions and the limits of changes that can be made without your approval must be clearly stated in the sales contract. It should also include the contractor's obligation to inform you about revisions.

3. What can I do if I am victimized by revisions?
If you are victimized due to revisions made against the terms of the contract or without your approval, you can get legal advice to seek your legal rights. You can defend your rights by applying to official authorities.

Conclusion

Buying an apartment from a project can be a profitable and satisfying investment when the right steps are taken. By paying attention to critical factors such as land share details, project flexibility and revisions during the construction process, you can make an informed and safe purchase. Doing detailed research, communicating openly with the contractor and reviewing all necessary official documents will minimize the likelihood of unwanted surprises in the long run.

Accurate information and careful planning are the keys to success in your real estate investments. For more information and professional advice, you can benefit from the guidance of experts.