In brief: First decide how much you are prepared to spend and how you will pay. Then choose a suitable area and apartment features, compare several specific listings, and only then move on to checking documents and reservation terms.

1. Start with your budget and payment method

Write down not only the maximum apartment price, but also a manageable monthly payment if you plan to use a mortgage. Armenia’s National Public Services Portal recommends setting a budget before choosing a home and, if you are considering a mortgage, discussing the loan amount and monthly payment with a bank in advance.[1]

Before calculating, ask the bank to confirm which down payment and other charges apply to your specific case. Do not treat an amount in an advertising banner as the full purchase budget: confirm the final terms in writing with the bank and seller.

2. Make a list of three must-haves

Choose only the things you cannot do without. For example: the commute to work or school, minimum floor area and number of rooms, how long you are willing to wait for the apartment, an elevator, parking, or a particular finish level.

List separately the features you would be willing to give up. This will help you avoid paying extra for features that look appealing in a rendering but do not meet your everyday needs.

3. Choose an address, not just a district name

A single district can include different streets, routes, and conditions around individual buildings. Mark on a map the places you travel to every week, then compare the route from each development’s address at the times you usually set out.

Visit the shortlisted addresses in person. Check access to the building, street noise and lighting, and what is nearby. Do not generalize your impression of one location to the whole district.

4. Compare specific apartments on the same basis

For each option, ask for information on the same configuration: comparable floor area, number of rooms, floor, finish, parking, and payment schedule. Put the answers in one table rather than comparing one apartment with an attractive rendering of an entire development.

  • Price. The full price of the apartment you selected, not just the price per square metre.
  • Layout. Floor area, rooms, floor, and window positions.
  • Payment. Amounts and dates of payments, and terms for changing the price.
  • Construction status. Which stage is supported by documents and what is promised when the apartment is handed over.
  • Handover. Which finishes, equipment, and utility connections are included in the written terms.

If an important question is answered only verbally, ask for the relevant term to be included in the draft contract or an appendix to it.

5. Before making any payment, confirm the details you need to check

Confirm the legal name of the contracting party, the precise identification of the property, its address or the land plot’s cadastral number, the payment recipient’s details, and the terms for refunding the payment. Armenia’s Cadastre Committee describes a service for issuing a unified certificate of registered rights and restrictions; an application can be submitted through its electronic system.[2] Ask a local lawyer whether that specific certificate applies to a project that is still under construction.

Do not transfer money just because “today is the last day.” First obtain the document, read it without rushing, and check that the payment recipient matches the party named in the terms.

A mini-template for your shortlist

For each candidate, fill in five lines:

  1. Address and everyday routes.
  2. Specific apartment and full price.
  3. Payment method and comfortable payment amount.
  4. Confirmed construction stage and written handover deadline.
  5. Documents to check before making a reservation.

You can use the Dignisi catalogue to browse Yerevan developments and start a shortlist; the availability of a specific apartment, its price, and its terms must be confirmed separately for the property you select.[3]

Sources

[1] https://english.hartak.am/life-events/buying-an-apartment [2] https://www.cadastre.am/ru/provide-information [3] https://www.dignisi.am/ru/new-buildings/yerevan