Viewing a condominium: Checklist for investors

Moe Afonso · 2026-10-13

You are standing in front of the house, the agent is waiting, and you have 20 minutes. For a let apartment as a capital investment, the viewing is different from one for your own use. You don't need to like the tiles, but the substance must be right.

This checklist helps you to overlook nothing and to estimate whether the price is justified.

011. The surroundings (Macro and Micro location)

The location determines the long-term letability.

• Noise: Is there a main road, a railway line, or a pub directly underneath? Visit the location once at a different time of day.
• Infrastructure: How far is it to the nearest supermarket, pharmacy, and public transport?
• Target group: Does the surroundings fit the apartment? A student apartment needs a different connection than a family home.
• Neighbourhood: What is the general impression of the street? Are there signs of "trading down" (vacancies, neglected gardens)?

022. The building (Communal property)

As an owner, you are liable for the entire house. Expensive repairs are paid for from the maintenance reserve – or via a special levy.

• Roof: Are there visible stains on the top floor? When was it last insulated or covered?
• Facade: Are there cracks, damp spots, or flaking paint? (Important for future energy renovation costs).
• Windows: Are they double or triple glazed? Are the frames made of wood (maintenance-intensive) or plastic?
• Basement: Does it smell musty? Are the walls damp? Look for salt efflorescence.
• Heating: How old is the system? A replacement after 30 years is often mandatory (GEG).
• Staircase: Is it clean and well-maintained? This indicates a functioning property management and a good community of owners.

033. The apartment (Separate property)

Here you decide how much you have to invest before a new letting.

• Floor plan: Are the rooms accessible from the hallway (important for flatshares)? Is the kitchen large enough for a dining table?
• Walls and ceilings: Are there dark spots in the corners (mould)?
• Bathroom: How old are the tiles and fittings? A bathroom renovation costs at least €10,000 to €15,000.
• Electrics: Is there a modern fuse box with an RCD (residual current device)? Are there enough sockets?
• Floors: What is underneath the carpet? Is the laminate worn out?
• Odour: Does it smell of cold smoke or damp?

044. The tenancy

If the apartment is let, you take over the contract.

• The tenant: Does the apartment look well-maintained? A good relationship between the owner and the tenant is worth a lot.
• Furniture: Is the fitted kitchen part of the apartment or does it belong to the tenant?
• Storage: Is the basement compartment or the attic usable?

05What defects cost (rough orientation)

If you find defects, you don't have to cancel. But you should include the costs in your calculation and use them for price negotiations.

06Documents you should check after the viewing

The viewing only shows the visible part. The "inner values" are in the documents:

1. Division declaration: What exactly belongs to the apartment (e.g. parking space, cellar)?
2. Minutes of the last three owners' meetings: What repairs are planned? Is there a dispute in the community?
3. Housing money statement: How high are the non-recoverable costs?
4. Maintenance reserve: How much money is in the "pot" for the whole house?
5. Energy certificate: How high are the expected heating costs for the tenant?