Ready-made residential projects have become a popular choice for many people looking for suitable housing without having to wait long periods of time for the construction process to be completed. These projects include fully-integrated residential units equipped with all basic facilities such as water, electricity and sewage, so that they are ready to move in immediately upon purchase. Buying an apartment on installments from ready housing projects is an attractive option for many individuals who want to own a home without making a full upfront payment. Here are the steps you can follow to achieve this goal:

Advantages of Ready-made Residential Projects:

Time. No need to wait, as residential units are available immediately.

Costs. Costs are clear and pre-determined, which helps avoid unexpected additional costs.

Advanced planning. Projects are usually designed to suit modern life, and contain all the services required by residents.

Facilities and services. These projects are often located within complexes that contain gardens, recreational areas, and sometimes security services.

Ready housing projects have become a popular option for many people seeking suitable housing without waiting for long construction periods. These projects include fully equipped housing units that are ready to move in, with basic amenities such as water, electricity, and sewage systems.

Steps for Buying an Apartment on Installments:

Research Suitable Projects . Start by researching ready housing projects in your preferred area. You can visit developers’ websites or go to sales offices to get information about available projects.

Compare Available Options . Compare projects based on various factors such as location, price, offered amenities, and design. Ensure you select a project that meets your needs and expectations.

Check the Developer’s Reputation . Before purchasing an apartment, verify the reputation of the real estate developer. Research reviews from previous clients and examine the developer’s track record for delivering projects on time and at the desired quality.

Apply for Bank Financing . Reach out to banks and financial institutions to learn about available housing loan options. You may need to provide documents proving your income and employment status, as well as a good credit history.

Pay the Down Payment . Typically, when purchasing an apartment on installments, you are required to pay a down payment ranging from 10% to 30% of the total price. Make sure you have this amount prepared in advance.

Negotiate the Installment Plan . Negotiate with the developer or the bank to establish an installment plan that suits you. The plan should include the number of installments, the amount of each installment, and the payment period.

Review the Contract . Before signing the contract, carefully read all its terms and consult a lawyer if necessary. Make sure you understand all the conditions related to the purchase, including any additional fees or penalties for late payment.

Sign the Contract and Receive the Keys . Once all details are agreed upon and the contract is signed, you will receive the keys to your new apartment and can prepare it for occupancy.

Conduct a financial analysis to ensure you can pay the installments without affecting your monthly lifestyle.

Keep a copy of all documents and contracts related to the purchase.

Ensure you pay your installments on time to avoid financial or legal penalties.

You can take steps to study obtaining an apartment from the residential projects under construction.

By selecting the right project and managing finances carefully, you can enjoy a comfortable life in your new apartment through the installment system. Choosing the right apartment and suitable financing are major decisions that require careful consideration and financial planning to ensure a comfortable and secure housing experience.

State Responsibility in Ready-Made Housing Projects

The state’s responsibility towards ready-made housing projects is no less important than its responsibilities during the construction phases. Here are some aspects of this responsibility:

Quality and Safety Ensuring: Even after construction is completed, the state remains responsible for ensuring that housing units meet the required quality and safety standards, including conducting a final inspection of the facilities.

Monitoring Maintenance and Services: The state supervises the provision of basic maintenance services for housing units and shared public facilities, such as parks and community facilities, to ensure the sustainability of the project.

Providing Basic Services: After projects are completed, the state is responsible for providing or improving basic services such as public transportation, security, health, and education in new residential areas.

Property Management: If the state owns some units for rental or social support purposes, it is responsible for managing them efficiently, including collecting rents and maintaining these properties.

Dispute Resolution: The state remains ready to intervene in the event of disputes between residents or between residents and real estate management, to ensure a peaceful and stable residential environment.

Motivating the local community: Through its policies and initiatives, the state encourages residents to enhance social cohesion and adhere to shared values ​​that support the sustainable development of society.

Impact measurement and policy evaluation: After the delivery of housing units, the state evaluates the social and economic impact of these projects on the population and society, in order to improve its future policies and planning models.

By fulfilling these responsibilities, the state contributes to enhancing the quality of life for the population and achieving social and economic stability in ready-made residential communities.