Each national real estate market has its own quirks. To avoid being dissatisfied with the decision you made, you should have a clear approach and establish exactly what you expect from your new residence.
We will provide ten (10) recommendations on how to acquire property in Turkey that not only justifies the investment but also creates revenue in the long run.
Content:
- Secret #1: study the market
- Secret #2: think carefully about the purpose of the purchase
- Secret #3: figure out the real market value
- Secret #4: "first-hand" and "second-hand" sectors
- Secret #5: personal apartment viewing
- Secret #6: Evaluate the layout
- Secret #7: service charges
- Secret #8: be cautious of below-market offers
- Secret #9: finding the right agent
- Secret #10: get to know the property developer
- Assistance with acquiring property in Turkey
Secret #1: study the market
The low pricing and simplicity of purchasing apartments in Turkey can pleasantly surprise a first-time buyer, causing him to let his guard down. Meanwhile, one of the most significant components of house-hunting is market research, which directly affects whether or not you are happy with what you got.
Check the offers in the primary and secondary markets carefully, get to know the places and their infrastructure, and determine which units and where they are currently in high demand in order to discover the best value.
Secret #2: think carefully about the purpose of the purchase
Someone buys an apartment for independence, while another buys it to rent out and earn passive income. In the first scenario, the buyer is guided by personal preferences; in the second, it is essential to be able to put yourself in the shoes of the tenant: consider their interests and anticipate their demands. It is important to recognize that a person is more willing to rent a house with good repair, in a safe neighborhood with all infrastructure, and near public transportation stations.
Rental accommodation within walking distance of the beaches, in recently-built dwellings with new engineering equipment, is also in high demand.
Secret #3: figure out the real market value
When searching for real estate, we take into account the price per square meter. It helps to understand how Turkey's housing area is determined.
Auxiliary and technical rooms, a landing, and balconies are all part of the overall area. In most cases, you will get a smaller flat to use. Knowing this, you have the opportunity to negotiate a bargain with the owner.
Secret #4: "first-hand" and "second-hand" sectors
In terms of technical equipment, communications, comfort level, quality, and dwelling condition, new as well as existing units might be quite different. As a result, the cost of these dwelling varies.
When looking for housing in the secondary market, you need be extremely cautious because saving money might play a cruel joke and turn into significant problems with maintenance. Apartments in development projects in Turkey are a more dependable alternative in this regard. Furthermore, if you buy off-plan housing, you will pay 25% less than the price of a brand-new option.
Secret #5: personal apartment viewing
Purchasing a home in Turkey is only possible after a personal viewing of the property. You can ask the agent to make a video call from the apartment, but you risk losing important details, which reduces your chances of making the right decision.
Get to know not only with the flat but also with the building and neighboring area. Find out if there are any local hotels or landmarks that, during the vacation season, can become a tourist magnet and hence a source of noise and discomfort for you.
Secret #6: Evaluate the layout
Layout is an important part that should not be ignored. We're not just talking about the smart room zoning and the absence of "extra corners," but also about the placement of the living quarters. Check the building's floor plan to ensure that your bedroom or kitchen is not near to a neighboring bathroom.
Secret #7: service charges
The cost of housing is far from the last amount that you have to pay. There are also regular payments for the maintenance of elevators, cleaning at the entrance and on the landing, etc. When buying a property, specify the amount of fees to be paid.
Secret #8: be cautious of below-market offers
Offers with a price lower than the market is a dangerous phenomenon. It is frequently "too good to be true". Buried faults, unpaid bills and mortgages, or other conditions that the seller has kept silent about, but which will undoubtedly be disclosed during your residence, are sometimes hidden behind a low price.
Secret #9: finding the right agent
When it comes to selecting an agent, reputation is key. Check the availability of the relevant license for professional activities and read customer reviews on the website of the agency on whose behalf the agent acts. Feel free to ask clarifying questions to ensure the realtor is honest.
Secret #10: get to know the property developer
The authority and reputation of the developer are more significant than the realtor's reputation. The delivery of buildings on time, the quality of construction, and the availability of all documentation are the first points to consider while growing familiar with the developer's operations.
An apartment purchased from a reputable construction company with many years of expertise and a good market reputation is a smart investment that will pay for itself and provide incredibly great emotions in the future.
Assistance with acquiring property in Turkey
Turk.Estate is a trustworthy resource in the field of Turkish real estate. Start your house-hunting journey for your perfect apartment with us and be certain of tomorrow!
The site only displays units from recognized developers and verified owners. You can also get acquainted with the most recent prices in the currency you are interested in, view floor plans and photos, and obtain complete and professional assistance in the purchasing and selling process from high-skilled experts.