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Top 5 things to consider when buying an apartment in Ethiopia

If you’ve lived in Addis Ababa and rented a house, you’ll realize that you should stop throwing away money on rent month after month,  and buy a house or an apartment. These tips can help you to be aware of things that you need to know before buying, avoid unpleasant surprises and of course, invest carefully in your future. In today’s blog, We’ll go through the checklist to help you buy the right apartment that fits your needs.

“Top 5 things to consider”

1. Research the market

Before buying an apartment in Ethiopia, you must research to make sure you’re getting the value of your money. Reach out and talk with apartment owners and real state agents and check for recent sales.

It’s essential that you don’t only rely on advice from the developer or their agent. Visit as many places as you can looking for properties that fit your criteria, so you’ll have a good idea of what your money buys.

2. Location

When your buying an apartment consider if it’s a good location. A”good location” can mean different things to different people, but there are also subjective factors that determine a home’s value.

it’s important to consider factors like centrality, Neighborhood. you must consider the apartment you are interested in is close to the facilities you require. for example:- shops, public transport, parks, hospitals, schools, work, gym, etc.

3. Security

it’s so important to feel safe in your apartment – after all, it’s your home. It is important to consider the safety measures they take in order to preserve the safety of inhibitors. Ask your self. can anyone walk into the building? Are there any security cameras?

Obviously, the best way to feel safe in your apartment is to rent an apartment that is safe. When looking for your next apartment, do consider security measures before you sign the papers.

4. Maintenance Charges

when your planning on buying an apartment in Ethiopia, Do consider what is the maintenance charges. Many buyers don’t think of this aspect when they buy a new apartment.

The pricing when you buy an apartment in Ethiopia,  it will generally cover the municipal tax, property tax, and assessment tax, water charges, common electricity charges, elevator charges and charges for hired help, like the garbage cleaner and security. Finding out what is included and not included in pricing can help you invest in a much better apartment.

5. Parking

This has to be an important question to ask if you have a car.  Will, there be car parking and you have to pay extra for it? Consult and check with the apartment seller if he/she will make his / her parking slot available because you obviously don’t’ want to buy an apartment that doesn’t have a parking space for your car.

Bonus Tip

Time Efficiency

This has to be considered when buying an apartment in Ethiopia , as example in metropolitan Addis real estate we’ve planned to build the apartment which is located around Ethiopia, Addis Ababa, Sarbet which was planned that it will take 1 year time estimation but it only took 9 months with full delivery, this shows how we keep our promise that we build with quality and  deliver on time.

 

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