How can you choose a suitable property in Turkey 2021-2022
Many real estate investors today, put Turkey in mind, due to the quality of its real estate, the accompanying facilities, or the distinctive infrastructure. We want to give you the most important tips for buying property in Turkey. Just in case you've been thinking about the idea, here are a few things you should think about and familiarize yourself with before taking the next step.
The recent years have witnessed huge developments in real estate projects in Turkey and the opportunities available to the extent that its success in certain cities is noticed all over the world. Contracting companies have flourished in Turkey, aiming to build the most luxurious properties in some of the most beautiful locations that Turkey has to offer. Given the wide range of options available for every budget. Buying a property abroad can seem stressful, and many will want to tread carefully, thus this article will help you.
So, to narrow down the difficulty, here are the top tips for buying property in Turkey.
Determine your needs and desires :
Whether you are considering buying a property to live in permanently or as a vacation home, you will need to know what type of property you are looking for. Think about why you want to buy the property. Is it living for yourself or an investment opportunity?
Do you prefer a rural area? civilized? Quiet or crowded?
What is the best region in Turkey that suits you and your family?
The location plays a vital role in deciding which property to buy, the surrounding environment will be considered along with necessary amenities such as public transportation, medical clinics, good schools, and shopping facilities and contribute to the value of the home. Each home buyer will have their basic needs specific to the important areas and amenities they are looking to approach.
The social and religious aspects of the area will also play a role in your decision.
If you are looking for investment opportunities, think about rental opportunities :
The return on investment with the growth of the initial capital are two very important factors that motivate any investor to make his decision. Istanbul is a great city to invest in, considering that it is one of the most viable areas of Turkey for real estate. Therefore, choosing the right property becomes very important.
There are several ways to invest in real estate for profit:
• Purchase for future resale when the property is expected to have a higher value
• Buying a degraded property at a competitive price, renovating it according to good standards, quality, and design to add value, and then reselling it for profit.
• Purchasing a property to rent it and obtain a continuous income.
All of the above are a popular choice for good yield and each will have different needs and requirements. So, making sure you know what product you are buying will greatly help in increasing your profits.
It is important to choose the right agent
Despite the beauty, kindness and welcoming of Turkey, there is no doubt that there will still be good and bad things all around, and there are certainly many scammers here to be aware of.
There are many stages to buying property in Turkey, and the process can take from several days to several weeks to pass depending on the documents available, the conditions of the property, and the people involved. One must be aware of all the fees and expenses that have to be paid through the different stages. For example, buyers usually pay between 7% and 11% of the property price upfront. A large amount of this money goes towards the government property tax. Then there are the various stamp fees and legal administrative fees in addition to the real estate agent's commission that is paid to the agent.
Don't forget the other options
Many people seem to think that there are few options in Turkey, but the choice and variety are endless. You must provide yourself with many options when it comes to buying a property, especially if it could be home in the future. Don't be shy about asking for more time and offering more options. A good real estate agent will not hold you back and will help you as best he can during your search. Its job is to simplify your buying experience in many folds and help you search without any negativity.
Yes, you can negotiate the price
Don't be embarrassed to negotiate a price cut, as it is a common practice to do so. Don't think that you just have to settle the asking price without any room for bargaining.
For many, they don't have this negotiating mindset, or perhaps for others, they may not feel confident enough with language and cultural differences.
When you find the right property, book it!
After you have settled on your dream home, the best thing to do is book the property. A reservation contract can be written for you once your consent is confirmed.
As we witness the successful Turkish real estate market boom, one immediately realizes that they should get the right offer as soon as it becomes available.
Once the reservation is made, the purchase process goes smoothly and the amount given to book the property is deducted from the agreed final price. But make sure you are firm and positive in your decision before booking the property as this booking fee is non-refundable.
We hope you found this article helpful. Of course, every rule has an exception, and every region has a special character that distinguishes its people and owners of its homes. There is no harm in collecting some information about it or even wondering about it a little so that you can see what the Internet or your real estate agent cannot tell you.
But in general, with all this information and facilities, the option to buy property in Turkey will remain the owner of the strongest future.