By . Apartment. Published at Wednesday, February 13th, 2019 - 06:56:07 AM.
Tips To Find The Best Apartments for Sale in Colombo : Understanding The Market For Apartments For Sale And How To Decide On The Type Of Property You Would Want To Own In Colombo Popularity Of Apartments For Sale With the growth of the economy in Sri Lanka, there has been an increased focus on the real estate market within the island as well. Due to the higher concentration of development occurring closer to the capital city Colombo, it has also increased the demand for property either for purchase or rent in the vicinity. But such rapid developments and increased demand has also led to a scarcity of free land available. Since the need to buy home properties has to be provided with a solution, many leading apartment builders have begun several projects to provide potential homeowners with viable solutions to choose from. This sort of developments is supported by statistics that indicate that the entire Western province covers only 6% of the countrys land areas but close to 28% of the population seek to make their homes in the area. Since this trend has been on the rise during the past few years, now you can find many apartments for sale and also apartments for short term rent that can be chosen according to your requirements. There are also several good houses for sale available in nearby areas but due to the high prices, they are not suitable for many interested homebuyers. In terms of apartments there are broadly two categories, namely, luxury apartment projects and micro apartments available for consideration. Types Of Apartments For Sale Popularity of luxury apartment projects In previous times, real estate agents and property developers focused more on offering stand-alone houses for sale. But now, with the limitations highlighted above, these developers have looked to offer those who want to buy home units the option of choosing from luxury apartments. It has been found that the demand to buy apartment that fall into the luxury category comes from the Sri Lankan community as well as foreigners. Such investments made in relation to own properties in Colombo area have also shown high increase in popularity. As per the statistics gathered up until 2015, there have been close to over 2600 luxury apartment units and it is further estimated that this number could reach close to 6000 units by 2019. Such luxury units are also found to be available for those who wish to rent an apartment, giving rise to more and more apartments for short term rent being offered. Potential for micro apartments in Sri Lanka Another alternative to houses for sale is the availability of real estate in the form of micro apartments. Many apartment builders have also invested in such projects that have been in high demand among those who want to buy apartment space in Colombo. The target market for this type of property has actually found appeal among the affluent customers who might even want a luxury apartment as well as middle-income individuals who want to invest in such a home for them. Similar to the above category, this type of housing solutions are also available as apartments for short term rent for those who are unable to buy home units by making an outright purchase and therefore look to rent an apartment instead. This opens up the possibility for more home seekers to get closer to their dream of owning a home in a prime city location. Choosing Between Apartments And Houses For Sale When you consider purchasing such properties you should be prepared for making the investment. The main decision you would need to make would be in relation to whether you actually want to buy apartment space or you still would like to look out to buy home in the form of a separate house. As a primary consideration when you invest in real estate you would need to decide on the space or size of home. Normally houses in Sri Lanka tend to cover about 2700 sq ft while an apartment would generally fall in the range of 1000 to 1500 sq ft. In addition apartments tend to offer additional services such as security, cleaning, waste disposal and other recreational facilities that are normally not available with separate housing units. But on the other hand, you might want to consider the following that are normally not available with apartments. When you buy apartments you will get a limited parking slot allocation Modifications are not possible Most apartment complexes have restrictions on owning pets Your possibility of engaging in gardening activities is very minimal Considering When To Rent An Apartment Due to the various requirements of homeowners there are several other options made available in terms of being able to rent an apartment. Many individuals who would be looking at living in small living spaces for short periods of time can consider finding apartments for short term rent. Since there is a high portion of the population that need to find accommodation to travel to work and for other arrangements in the city limits, this has become more of a financially viable option many prefer. Depending on the requirement you could even arrange to extend the rental period once agreed with the renter. This is also a great way to check whether you can adjust to an apartment style living. If the lifestyle appeals to you, with time, you could also consider owning an apartment of your own.
Its Much Easier to Find an Apartment for Rent With the Help of a Professional Apartment Locator These days, the most dependable and convenient way to search for any information, service or product is using the Internet. If you were looking for a rented apartment, you would most likely use the term apartments available for rent or rental apartments to conduct your search on Yahoo or Google. The results displayed by search engines would mostly show: 1. Apartment locators, offering their services from their website or using classified ad postings 2. Other websites, allowing you to use their large database of apartments When facing these two options, you need to decide which suits you best. It all depends on your requirements and needs. Perhaps you are a DIY kind of personality, who would hunt an apartment on his own, or you may like to access an apartment locator to help you in your search. In case you recently moved to an unfamiliar, new city you would not know your neighborhoods, commercial centers, schools, local system of transportation etc. In such circumstances, your best option would be an apartment locator. How does an apartment locator help? The job of an apartment locator is easy and straight. When being approached by a client, the locator searches his/her database for available apartments. Locators are aware of various factors, such as location, prices, amenities provided, availability and information of the kind of people who can stay at a particular location. Armed with such information, the apartment agent forwards you an exhaustive list of available properties that match your requirements. What is the fee charged by an agent? You, as a consumer, are not required to pay towards the services rendered by an agent. In fact, reputed apartment locators do not charge from the renter. Why would an agent provide free services? Its right that the agent would not charge any fee from you, but he has to make a living! He gets paid by the company that owns the apartments after you have signed a lease with the company and you have sent them the name of the apartment agent who located the apartment for you. It is quite a normal practice for rental companies to have marketing budgets for paying agents that help them getting new renters. What are other benefits? When patronizing the services of certain agents, you may get some extra cash in hand as they share with you a part of their commission earned from the apartment company. The amount you get depends on the chosen locator and the commission they get from the rental company. Other advantages of availing the services of apartment locators Youll appreciate that getting the services of locators help saving you a lot of time and labor. Otherwise, youll need to call upon one company after another, detail your requirements and ask if any apartment suiting your requirements is available. For instance, the locator is aware of any apartments that allow the renters to have pets or have some added facilities for pets. When you are involved in a criminal case, the locator may suggest properties that wouldnt mind accommodating you. Furthermore, the locator could suggest properties closer to your workplace. So, you can see that there are many benefits of approaching a professional apartment locator for doing the needful for you. The best part is that they dont charge you for the services rendered.
When you are finding an apartment, there are several amenities that you certainly look for such as: • A dishwasher • An in-unit dryer/washer • Being near to public transport. A checklist of such things eventually means that you might have to go through numerous apartments before finding the perfect one. However, if you perform your apartment search in the right manner, you can save plenty of time, energy & money. Here are some quick tips to have the most effective and efficient apartment search: Determine Your Budget: It can be quite easy to overlook the leasing price, when you see a nice apartment with spacious living room, lovely window views and ideal neighborhood. This is why its vital to determine your budget before you even initiate your search. Just take a moment and figure out the expenses that you can actually afford per month, taking into consideration all other expenditures such as: • Utilities • Groceries • Social activities • Gym membership etc. When you have a determined figure in mind, you wont put yourself in a situation of renting an apartment thats far beyond what you can actually afford. Apartment Search Time: The time of year when you search for a rental apartment can have a directly impact on what you end up paying for rent. During the summer months there may be a plenty of apartment rentals available, but rent will be quite high because thats the time when many individuals look for a house. Narrow Down Your Search: Its totally crucial to visit the apartment you are considering renting. Searching apartment online will certainly save plenty of time. A great thing about searching apartments online is that you can do the most of your apartment search without even leaving comfort of your house. Choose 3 or 4 apartments that are worth the trip and then plan a personal visit. Be Organized: Once you have looked at numerous apartments, they can all start to combine together & trying to keep track of all of the specifics (rental rates, amenities, contact information & security deposit amounts etc.) can get stressful. So do yourself a favor by making a quick spreadsheet. By preparing a data you can easily get necessary details immediately, like when you need to contact the landlord (to enquire something), then you will have all the info right where you require it and you can save yourself from wasting time to track it down. On the spreadsheet you can also keep side notes that you may want to remember about the apartment. Bring Your Roommate(s): In case you are planning to share apartment with your friends, its ideal to bring them along when you go to look a place. Viewing together at a rental apartment will certainly save lots of time. After viewing the apartment place, you can discuss about what you like & dont like. Transportation: Even if you do plan on having a car, utilizing public transport to run errands or to work can save you plenty of money in the long run. It is always ideal to consider proximity to public transport when looking for an apartment. Saving money on car maintenance, insurance and gas/fuel leaves more in your budget to dedicate to monthly lease and other expenditures. Energy Costs: Before signing any leasing agreement, ask the landlord about the average utility costs for the apartment. Its something thats certainly worth looking into, as this is an expenditure that can truly sneak-up on you. Ask for Special Discounts: Depending on the apartments you are seeing, there may be definite move-in discounts or special offers you can take benefit of. For example, if you decide to sign a longer lease then some landowners may offer your first month rent-free. Even if there are not any offers or discounts, it never hurts to enquire. Be Prepared to Negotiate: Once you have visited your top two or three apartments, you may try negotiating with the landowner of the place you are most heavily considering. When the landowner recognizes that you have other options available, they may be more eager to work with you on the monthly lease.
Glossary of Types of Apartments for Rent in Ottawa Looking through the apartment listings can be a pretty confusing experience. Just what are the differences between a junior one-bedroom and an alcove studio? A convertible three-bedroom and a flex two-bedroom? Knowing the layout of each type of apartment and what features each type contains will greatly improve your chances of finding the perfect apartment rental for your needs and lifestyle. Walk-Up Apartment / Low-Rise Apartment A walk-up or low-rise apartment is located in a building that does not have an elevator (which means it might be a bit more difficult when youre moving in). Walk-ups are usually older buildings that are less than five stories high and may not have a lot of amenities such as laundry rooms, storage lockers or wheelchair accessibility. Generally, monthly rent for a walk-up is less expensive than the monthly rent for a high-rise apartment. High-Rise Apartment A high-rise apartment is found in a building that is generally six or more storeys tall. High-rise apartment buildings have elevators and often have onsite laundry facilities, pools, fitness centres, comprehensive fire alarm systems, and security systems to monitor tenant entry and exit. In addition, many high-rise apartment buildings feature onsite management staff to assist you in the event of an emergency. Bachelor Apartment / Studio Apartment A great choice for students, a bachelor apartment (also called a studio apartment or an efficiency apartment) is a small one-room apartment with a separate bathroom. The one room serves as a bedroom, dining room and living room and is usually connected to an open kitchen. Bachelor apartments can range from very small (just big enough for a sofa-bed and a desk) to very large (with enough room for a king-size bed and a separate sitting area and dining area). An alcove bachelor (also called a convertible bachelor or convertible studio) is usually configured in an L-shape with a distinct area or nook for dining or sleeping. 1-Bedroom Apartments A one-bedroom apartment consists of a living room, kitchen, bathroom and a separate bedroom equipped with a built in closet. Occupancy may often be limited to two people. A junior one-bedroom usually implies an extra-large studio apartment that is large enough to section off a separate sleeping area or bedroom. 2-Bedroom Apartments A full two-bedroom apartment has two separate bedrooms in addition to a living room. It may or may not have a separate kitchen. Bedroom sizes can vary widely, from a babys room or small office to an extra-large master bedroom suite. A convertible two-bedroom apartment (sometimes called a flex 2) is actually a one-bedroom apartment, but it is large enough and laid out in such a way that a wall could be put up to create a second bedroom. Similarly, a convertible three-bedroom (or flex 3) is a two-bedroom apartment that can be converted into 3 bedrooms. A wing apartment usually has two bedrooms as well as a small common area such as an eat-in kitchen, but no living room. These apartments are ideal for students or roommates who dont require much in the way of common living space. Loft A loft can be classified as a big, open space with few internal walls. Usually the result from a commercial building having been converted into residential units, lofts generally have very high ceilings, extra-large windows and often have exposed plumbing pipes and columns. Penthouse Apartment A penthouse is an apartment on the top floor of an apartment building, usually featuring extra balconies or a rooftop deck. A penthouse is normally considered to be quite luxurious and is an extremely desirable (albeit expensive) place to live. Basement Apartment As the name implies, a basement apartment is located in the lowest storey of a building and is partially below ground level. Windows and proper ceiling height are enforced by city codes. This type of apartment can also refer to the basement on a house that has been converted to an apartment. This type of basement apartment may have its own separate entrance and may have its own bathroom, kitchen, laundry room and heating system separate from the rest of the house. Duplex Apartment A duplex is an apartment with two levels. This could include a true bi-level apartment with an enclosed upstairs and downstairs, or it could also be an open space with an extra-high ceiling and a loft or mezzanine. Railroad Apartment In a railroad apartment, there is no hallway. This type of apartment consists of a series of rooms that are connected to each other in a straight line (just like cars on a train), meaning a tenant will have to walk through each room to get from one end of the apartment to the other. Balcony / Terrace The terms balcony and terrace are often used interchangeably to indicate a railed platform extending from the outside of the apartment. It can be small enough to accommodate one or two people standing or large enough for a picnic table, lounge chairs and plants.
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