How to deal with compromises when you are buying new property | The Daily Star
12:00 AM, March 20, 2016 / LAST MODIFIED: 11:59 PM, March 19, 2016

How to deal with compromises when you are buying new property

Whether for your office or your home or your business, purchasing an apartment is a serious investment. The investment is not only monetary but mental as well. This new apartment for which you are paying a chunk of your savings (provided you are not uber rich!) is going to be your new home, your office or a part of your business. Whether you are building it from scratch or buying it second hand, owning this new piece of estate means you are bound to make compromises along the way. Compromises might be made for various reasons: maybe it fits your budget or it's close to your office or it's in a busy business district. No matter what the reason, it is given that there are some sacrifices associated. But in order to manage how much you are to compromise, you might find the following tips handy:

1. Make a deal-breakers list

First, come up with a list of things that are absolutely non-negotiable. These are total deal-breakers so look at properties that don't meet your basic requirements. For example, a corner plot, lacking the desired floor plan, no public transportation, small bathrooms or less square footage, etc.

2. Make a list of negotiables

This one, unlike the first point, is a list of things that you might be OK to negotiate. The list would have things that might be great to have, but you can live without too. It can be community space in the building, security features, tiny changes in the floor layout, etc.

3. The neighbourhood musts

The neighbourhood you live in right now and the neighbourhood you are planning to move in are most likely not going to be the same. So be ready to compromise. If you are OK with the lively neighbourhood of Puran Dhaka then you might have to compromise a bit when you move to Banani DOHS.

4. Be practical

Be open to practical compromises. Your old building might have had two parking spaces, but new buildings these days have only one per apartment. So be ready to make this sort of practical compromises.

5. Remember what you are paying for

Always remember what you are paying for. You cannot expect a 3,000 square foot apartment for the money of a 1,500 square foot. So the rooms are bound to be a bit smaller than in bigger apartments. Make sure you are willing to compromise the comfort of a bigger apartment in this case. Or else you will regret making the investment in the property in the first place. 

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