Istanbul real estate is an attractive proposition, and when people decide they want to purchase there, it is not uncommon for them to dive right in. With that being said, read on to discover the different factors that need to be considered before purchasing.
- Assess the rental market – If you are interested in villas and apartments in Istanbul for the purpose of making a profit, which is usually the case, you will need to assess the rental market carefully. Of course, Istanbul is in high demand, not only for tourists, but young professionals too. Dig deeper and find out the best areas in Istanbul for rental, as well as the type of properties that appeal the most too.
- Visit Istanbul several times – Make sure you visit Istanbul several times throughout the summer – both in-season and out of season – to be certain that it is the perfect place for you. If you are planning to move abroad, remember, this is going to be your home, not an extended holiday.
- Considering a new build? – If you are considering purchasing a new build, you should check their reputation and make sure they have a good amount of experience. If rental returns are mentioned, find out what these have been based on.
- Work out your finances – It may sound obvious, but before looking for property for sale in Turkey, you need to determine how much money you have available. Remember, it’s not just the purchase price you have to consider, there are also legal fees, agent fees, and stamp duty too. Plus, you will want a little pot set aside for maintenance and taxes too.
- Get all documents translated – Make sure you get all documents professionally translated before you agree to any purchase. You need to make sure you understand everything clearly.
If you consider all of the points mentioned above, you will feel better prepared when looking to purchase Istanbul real estate.