A home is the hugest financial investment you will make in your lifetime. Below is the housing index card, a handy resource to print and take with you as you look at an Apartment in Addis Ababa or when you think about buying one.
1. Buy an Apartment for the long run
A home is a significant investment, not to mention a backbone of stability. Buy an Apartment you want to live in for at least five years, one equipped or ready to be equipped with the features and space you need, both now and in the future. Metropolitan Real Estate has multiple ongoing projects with a high return on investment.
2. Buy an Apartment to improve your life, not speculate with money.
Your Apartment is more than a financial investment; it’s where you sleep, eat, host friends, raise your children. It’s where your life happens.
The housing market in Addis Ababa is too unpredictable to buy a (primary) home purely because you think it will net a large amount of short-term financial return. You will most likely be living in this Apartment for several years, regardless of how it appreciates, so your priority should be finding an Apartment that will meet your needs and help you build the life you want.
3. Focus on what’s important to you
According to recent statistics, Addis Ababa has a population of 4.6 million. The dramatic increase in population implies a higher demand for housing, which increases the need for residential real estate and infrastructural development in the city. So, focus on finding an Apartment you can afford that meets your needs, but do not get distracted by shiny features that might break your budget. Nice-to-have features often drive up the price for things you do not particularly value once the initial enjoyment wears off.
Make a list of your basic needs, both for your desired Apartment and your surroundings. Stick to finding a home that meets these requirements without buying extra stuff that adds up. Apartments at Metropolitan Real Estate are exceptionally built-with quality and worth living.
4. Keep a six-month strategic reserve
While a down payment is a significant expense, it’s also essential to build up a strategic reserve and keep it separated from your usual bank account.
This reserve should cover six months of living expenses just in case you get sick, face an unexpected expense or lose your job. A strategic putting aside will not only save you from financial hardship in an emergency. But it also provides peace of mind.
5. Be willing to walk away
Buying an Apartment is a time-consuming, stressful yet, ultimately rewarding endeavor — if you end up closing on an Apartment that meets your needs. But it’s essential to manage your expectations in case you don’t immediately find a home you can afford with the features you need.
Always be prepared to walk away if the sellers don’t get your expectation, the home doesn’t pass a rigorous inspection or the timing isn’t right. Hold fast to your list of must-haves, stick to what you can afford, and don’t overreach or settle.
It’s no tragedy to miss out on any particular house. Remember that you’re playing the long game. You want to be happy years from now. Apartments at Metropolitan Real Estate are exceptionally built-with quality and worth investing in.
Let us connect today on Metropolitan Real estate, which has multiple ongoing projects such as Metropolitan Central Tower Luxury Apartments are around AU headquarters. Metropolitan Westview Standard Apartments located at Total Soset Kuter Mazoriya. If you are ready to begin your journey on the way to becoming a homeowner, please contact us with the Ethiopian office: +251973404040 and USA office: +1 480 280 2242.