Buying Apartments is perhaps the biggest investment you will be making in your lifetime, but it is shrouded in myths and misconceptions. From having a fixed ‘right age’ to buy Apartments to our misunderstandings about buying Apartments are too many. Before investing in Apartments, it is important to clear any misgivings you may have about it. As a real estate company, Metropolitan real estate debunked the top 5 Apartment buying myths so your Apartment buying experience is hassle-free.
Myth 1: Renting is better than buy Apartment
One of the biggest myths surrounding buying an Apartment is that renting is better than buying. Most Ethiopians believe buying an Apartment would weigh down their spending capacity. Real estate purchases are performing asset investments in Ethiopia. A home either can generate rental income in the long term or help cut down rent in the short term. Homebuyers can also enjoy long-term capital appreciation. Metropolitan Real Estate has multiple ongoing projects with a high return on investment.
Myth 2: Investments in the center of Addis Ababa are Expensive
Investing in the center of Addis Ababa comes with its advantages. Conveniences, connectivity, proximity to the workplace are all pros of investing in the city center. The appreciation rate of Apartments downtown of Addis Ababa is also very high. Just because the price tag is low and the plot size is big doesn’t mean you have to buy a property very far from the city center. The main thing in this point is how many years will it take to return the investment cost? Metropolitan Real Estate Apartments took a maximum of 7 years of return on investment. Take a look at our latest ongoing projects Metropolitan Tower Apartments, Metropolitan Central Tower Apartments, Westview Standard Apartments.
Myth 3: Real estate investments are risky
Almost every type of investment comes with its own set of risks. Starting a business, buying shares, or real estate investment, all come with their risks. However, real estate is one of the safest investments you could make and the associated risks are much lesser compared to its counterparts. It is a given that before you invest you should thoroughly investigate the builder, the project you are investing in, the deeds and documents, and costs. The risk of construction delay plagues the real estate industry, however, it is a risk that is avoided with reputed builders. For Instance, if you take Metropolitan Real Estate, It is known for delivering its project on time.
Myth 4: A 50 % down payment is required to buy an Apartment in Ethiopia.
In most real estate in Addis Ababa down payment is necessary to buy an Apartment. As an essential point of home buying, you are required to pay a minimum amount of payment in most Real estate in Ethiopia, and the payment plan also matters, Metropolitan Real Estate requires buyers to pay 30% of the down payment and the rest of the payment installment is more than 9 rounds which will give you a time to pay accordingly to your plan.
Myth 5: You get the same amenities in all projects in the same locality
The amenities you get during possession are dependent only on the builder you have chosen. Not receiving the promised amenities is a common complaint many new apartments buyers make. Unfortunately, it’s not easy to get your dream home in Ethiopia. Most of the developers don’t incorporate a variety of amenities and features. Choose Metropolitan Real Estate so you can step into your dream home without any compromises.
Bottom line
Home buying should be a pleasant and rewarding experience for every buyer. With these myths busted, we hope your journey to your new home is a great one too!
If you want to learn more, let’s connect on Metropolitan Real Estate., which has multiple ongoing projects such as Metropolitan Tower apartments located at Bole Rwanda bridge In front of Mamocacha Café, while Metropolitan Central Tower Luxury Apartments are around AU headquarters. Metropolitan Westview Standard Apartments are located at Total Soset Kuter Mazoriya. if you are ready to begin your journey on the path to becoming a homeowner, please contact us at the Ethiopian office: +251973404040 and USA office: +1 480 280 2242. A trusted advisor can help you understand where home prices are today, how they contribute to a homeowner’s net worth, and the impact equity can have when you own a home.
