The Turkish citizenship program allows foreigners to purchase property worth USD 400,000 and apply for Turkish citizenship. This program has motivated many foreign investors to buy real estate in Turkey and invest in luxury holiday homes and other types of private residential properties.
Owning a home in Turkey is a dream for many, and if you are also looking into buying a private house and moving to Turkey, this article can help you immensely. Stick around as we discuss the pros and cons of buying a private house, so you know what to expect when you become a homeowner. Let’s dive in.
Pros of Buying a Private House
Buying a private house is the best purchase one can make. It gives stability, comfort, privacy and ample space to work with, especially if you are considering expanding your family. Not to mention the high return on investment in the long run.
Here are some of the major benefits of having a private house:
1. Value Appreciation
One of the main attractive benefits of buying a home in Turkey is the value appreciation it undergoes over time. This, of course, also has to do with factors such as location, property size, etc. However, the average home prices are undergoing a rapid increase.
Turkish properties have undergone a 902% increase in price in the last 12 years, and the houses in the major cities of Turkey are only boosting in price and are in high demand.
In October 2022, 102,660 residential property sales were made in Turkey. The value appreciation of your house will allow you to gain an enormous profit if you decide to sell your house after 5 or more years down the line.
2. Your Control & Privacy
Many opt for buying houses because it gives them a sense of control and privacy that renting simply does not offer. As a house owner, you have your own space to work with and decorate however you like. This space is yours to renovate, and you do not need any prior permission to do so.
Having a house removes the stress of dealing with noisy neighbours and restrictions on keeping pets.
3. Better Stability
Living in a private house allows you to live in the same place long term, which is great if you are happy with the home you have and its location. It takes away the hassle of moving, a benefit renters cannot enjoy.
4. Enjoy a Home-office Space
More people have shifted to a work-from-home setup after the pandemic, and owning a house where one can have a big enough space to use as an office and work remotely is truly a luxury. You can create your home office and have a personalized workplace to support better productivity and no distractions.
5. Splendid Views & Garden Spaces
With buying a private house comes the chance to have your own garden and open space to grow vegetables and fruits. Having a garden allows you to create a play area for your children.
Villas and houses in Turkey boast wide balconies and terraces that open up to breathtaking views. Whether you desire lush forest views or an enchanting view of the city, buying a home in Turkey can give you just that.
Check out this gorgeous villa in scenic Kalkan that brings you incredible sea-views.
6. Enjoy Turkish Citizenship
Foreigners who buy property in Turkey can easily obtain a residence permit, while those who seek Turkish citizenship can also qualify by spending USD 400,000 on buying Turkish real estate.
Get in contact with us and let our professionals handle the complicated task of property hunting and bring you all the top-of-the-line recommendations based on your free consultation with us. Moreover, once you buy a property through us, we can carry out your Turkish citizenship application via our legal team.
Cons of Buying a Private House
Now that we have discussed the pros of buying a private house in Turkey, let’s explore the cons:
1. Maintenance Work
Maintaining the property after purchase can be a bit of a challenge. All repair work has to be taken care of by the property owner. From mowing the lawn to fixing a leaky tap, all of it is your responsibility. The ideal solution is setting aside a yearly budget for repairs and maintenance work to ensure that your property is in top shape and you don’t overspend either. Regular inspections to make sure everything is working perfectly can also help prevent the need for emergency repair work.
2. Utilities & Heating Costs
Depending on the size of the property, the heating costs can be quite costly. Not to mention, the utilities such as garbage collection, Wi-Fi, water, etc will also be your responsibility as a homeowner.
3. Limited Mobility
While living in a private house allows you to stay rooted and brings you stability, it also limits your ability to accept certain job offers that, despite being attractive, are far from where you live.
While maintaining and owning a private house is definitely more expensive than owning a flat, the fact remains that having your own house will give you the freedom to live your life the way you want to and establish community ties in your area.
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