By Justin Mays:
Turkey is the dream destination for foreigners to buy a home. One of the biggest reasons is the ease and convenience of purchase and the tremendously affordable prices. There is also a vast array of property types to select from.
According to the Turkish Statistical Institute, there was a rapid increase in house sales in 2020. 1 million 499 thousand 316 houses were sold that year.
However, there is a lot one must know before investing in a home. In fact, buying a home is one of the most important purchases one makes in life.
In today’s blog, Prime Property Turkey brings you an extensive guide on the dos and don'ts of buying a home in Turkey so you can get the best return for your investment.
The Dos of Buying a Home in Turkey
When moving to Turkey and buying a home here, you should do the following to ensure you get optimal value for your money.
Plan Your Budget
It goes without saying that you have to set a budget when you plan to buy a home in Turkey. This is because the expenditure does not end at just purchasing the home.
There are many more costs one has to consider, which can add up and make things extremely expensive. These costs include the taxes for the property, furnishing costs, etc. Planning your budget will also help you not overspend.
This is where we come in. Prime Property Turkey can give you all the guidance you need to know how to buy a home in Turkey and help you plan your budget effectively.
Read our Costs to Consider When Buying Property in Turkey to know more.
Hire a Real Estate Consultant
A professional real estate consultant becomes essential to guide the buyer and carry out the bulk of the work involved in buying a home in Turkey.
Since they know all the ins and outs of the real estate world, they can find you a home that fits not just your budget but also your demands. The real estate consultant will run all the essential checks on your property and ensure your investment is secure.
Additionally, a property consultant will be willing to answer all your questions to clear any doubts you may have.
Read our blog on Why You Should Consider a Consultant When Moving to Turkey to find out how hiring a real estate consultant can benefit you.
At Prime Property Turkey, our real estate consultants are the best in the market. We are completely transparent in our dealings and make sure that our client's interests are always protected.
Find the Right Location
Turkey is a massive country with diverse locations to choose from. Every location comes with different properties. Finding the right location becomes the most crucial step in whichever city you buy a home in. Doing so can allow you to get a high return on your investment. You may find a lovely home to invest in, but the location must be right for you.
The location of the home should be one that is in demand so you can gain a profit when you resell it.
Finding an area that is popular and is steadily increasing in value takes some work, but once you do, you can be sure that the real estate here will earn you excellent returns.
Negotiation Is Key
Instead of agreeing on the initial price you are quoted, negotiation can help you get a good deal. Your real estate consultant will come in handy since they have links to developers and can help finalize a price that suits your needs and budget.
The consultant can also help you negotiate any additions with the developer, such as repairs, upgrades, etc.
Prime Property Turkey has a professional team of real estate consultants to serve foreign buyers from all countries.
Visit Properties & Inspect Them Carefully
Never settle on a property without inspecting it in person. While there are always pictures and videos available for properties for sale, the smart thing to do is visit the property personally to inspect and check its condition.
Seeing the property for yourself can let you know if there is any damage. A house inspector can also inspect the property for you to know if the construction is good and if there are any flaws you should be aware of.
The Don'ts of Buying a Home in Turkey
Here is a list of everything you should never do when buying a home in Turkey to ensure you have complete control over the process and do not regret your purchase.
Don’t Work Without a Lawyer
It is imperative that you hire a lawyer that can protect yourself from being over-charged or scammed. Having a solicitor on your side can guarantee that you are being guided in the right direction.
Additionally, your lawyer can take care of the legal paperwork involved in buying a home and assist you in all other legal aspects.
The lawyer can also help you with taxes and ensure that you don’t face any legal difficulties in the ownership of your property.
Never Finalize Via a Phone Call
Finalizing your purchase through a phone call can cause you to become the target of a real estate scam, which can result in you incurring massive losses.
Don’t Stop Exploring the Real Estate Market
Sometimes you think that you have found what you were looking for, but things don’t go according to plan, and you might want to back out instead of closing the deal. In this case, you should not get disheartened and stop your search.
The real estate market in Turkey is constantly evolving, and new modern residential properties are emerging every day. Keep researching and exploring what is out there. You will eventually find what you are looking for.
Whether you want a house for your family in the suburbs of the major cities or a holiday home in the scenic coastal towns of Turkey, this country has a wide range for you to browse through. Moreover, you do not need a ton of paperwork when purchasing a home; it only takes a couple of days to get this done.
Prime Property Turkey can offer you exceptional service if you want to buy a home in Turkey. Contact us and let us know what you have in mind so we can help you find the home that suits you best.
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