Are You Confused on Selecting the Right Under-Construction Apartment That Fits Your Need? Here Is a Step-by-Step Procedure
Buying an under-construction apartment in Addis Ababa can be exciting—but also overwhelming. With numerous projects, developers, locations, and payment plans, it’s easy to feel lost. But don’t worry! Following a clear, step-by-step process can help you make an informed decision that fits your budget, lifestyle, and long-term goals.
1. Set Your Non-Negotiables
Before visiting sites, define your essential criteria:
- Budget (including contingency funds)
- Minimum number of bedrooms
- Maximum acceptable commute time
- Must-have features like elevator, parking, or security
Having a clear checklist ensures you focus only on suitable options.
2. Choose Your Preferred Location
Location is key in real estate. Rank 2–3 neighborhoods based on:
- Proximity to work or school
- Access to transportation and future infrastructure
- Safety, community, and amenities
Prioritizing locations saves time and ensures your investment appreciates.
3. Check the Developer’s Reputation
A reputable developer is your first guarantee of a smooth process. Ask for:
- Completed projects and timelines
- References from past buyers
- Track record of delays or legal issues
If the developer hesitates to provide references, consider it a red flag.
4. Verify Legal Approvals
Always check:
- Land title
- Building permits
- Registration with local authorities
Legal clarity protects you from future disputes.
5. Study the Payment Plan and Contract
Prefer milestone-based payments linked to construction stages rather than large upfront sums. Ensure the contract specifies:
- Refund policies for delays or cancellations
- Penalties for missed deadlines
- Warranty coverage for structural or finishing issues
6. Review Floor Plans and Orientation
Evaluate:
- Usable area vs. quoted area
- Sunlight exposure and ventilation
- View and noise considerations
A well-planned layout improves quality of life and resale value.
7. Assess Building Specifications and Finishes
Check the included specifications:
- Flooring, plumbing, and window types
- Elevator model and security features
- Optional upgrades and their costs
Being informed prevents surprises at handover.
8. Confirm Timeline and Guarantees
Ask for:
- Estimated completion date (with buffer)
- Delay penalties
- Warranty terms for structural and finishing defects
A reliable timeline helps you plan finances and moving arrangements.
9. Consider Resale and Rental Potential
Even if staying long-term, consider future market value:
- Resale demand in the area
- Rental potential and expected yields
- Monthly HOA or maintenance fees
This ensures your investment remains profitable.
10. Plan for Handover
Before moving in, plan:
- Pre-handover inspection and snag list
- Responsibility for defect repairs
- Handover checklist including meters, legal documents, and title transfer
Final Thoughts
Buying an under-construction apartment doesn’t have to be confusing. With a step-by-step approach, you can confidently select a property that meets your needs, protects your investment, and ensures a comfortable lifestyle.
Pro Tip: Keep a checklist handy on-site to compare options objectively. It will help you spot red flags and make a faster, smarter decision.
Need support /assistance ? Call In Addis Properties with:- +251983776178 we are also available on Whatsapp with the same number.
