Don't repeat the mistakes of others when becoming an owner of newly purchased apartment.

Buying a property is a lifetime decision. Nobody wishes it become a lifetime trap, so it is very important to make the right decision.

After several years of Kyiv life, Oksana Levkova, 30 years old, has finally made a decision to purchase her own apartment. She got tired of renting and sharing her private room, so she started to search for ways to make what she calls one of the most important steps in life.

The first question to consider is where to purchase, which depends largely on your budget.

According to realtors, the majority of property deals done on the secondary market are in the price range up to 100,000 USD, which will get you a one- or two-bedroom apartment in the so-called "sleeping areas" of Kyiv, outside the city center.

Property consultancy and broker SV Development reported that, out of 708 deals on the secondary market made in Kyiv in July-August, 45 percent were one-bedroom apartments and 42 percent were two-bedroom apartments.

In terms of value, 67 percent cost less than 100,000 USD. Only 199 apartments were purchased on the primary market.

By now, the lowest property can be bought in Darnytsky district of Kyiv, starting at USD1,356 per m2, and the most expensive is Pechersk, from USD2,836 per m2, according to the SV Development report.

So far, Levkova has seen nearly 30 apartments that fit her basic requirements: one bedroom, not in the city center, with a pretty view, close to a park or a forest and not a Khrushchovka (a low-cost apartment built in the 1960s under the rule of Soviet leader Nikita Khrushchev).

"The choice is significantly limited, unfortunately," Levkova noted. Kyiv has long suffered from a limited supply and choice of apartments, which has forced prices up.

The next step is getting a bank mortgage. Levkova, a head of a non-governmental organization and a journalist, admitted she is confident of securing a loan. But not everyone is as lucky, after the crisis cut the number of banks willing to lend money and pushed interest rates higher.

The main driving power behind the boom in the property market was loans.

Before the crisis, nearly 80 percent of apartment purchases were finished using bank mortgages," admitted Serhiy Kostetsky, an expert from SV Development.

"We are waiting the revival of the market by the middle of 2012, when loans are again available," he noticed.

Levkova added she has taken her time to make choices and consulted with friends and professionals.

"I've been thinking and started the market study half a year ago. I've talked to friends that have experience in purchasing apartments, attended special courses and, of course, contacted professional brokers," mentioned Levkova.

Nevertheless, even though Levkova notes her knowledge of the market and procedures have significantly widened, she doesn't feel sure enough to handle the deal herself. So Levkova decided to use services of experienced real estate brokers and had a pretty good experience of purchasing a nice flat suiting her wishes. Definitely not every real estate agency in Kyiv is competent and can provide with professional service, so it is ought to use somebody's recommendations and to turn to a well-qualified agency, which will help you to purchase the apartment of your dreams.

Before you buy a flat, it is necessary to check:

• The quantity of previous owners.
• Whether the person who sells an apartment is the owner.
• How an apartment has been transferred from one owner to another.
• Whether previous deals were made directly by owners or by their representatives.
• Whether there are any financial claims from previous owners of the apartment.
• Whether all modifications in the interior of the apartment have been approved by the relevant authorities.