One of the many questions we receive from our customers is, which is better to buy a cash or installments property in Turkey. in fact, this question we cannot answer in a few lines, as there are many details that you should know about each of the two options before you make the decision to buy any of which
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Should I buy a cash or installments property in Turkey
When you are in the process of buying and owning real estate in Turkey, there are a lot of questions that will come to your mind, whether the installment property is better or real estate in cash, and because of the importance of this topic, we will answer it in detail through the following paragraphs
First, the main factor that determines this is the financial budget that you have.
Cases in which you choose to buy a cash or installments property in Turkey
We have a number of cases in which you may choose to buy this type of real estate, the most important of which are:
– If you do not have the full price of the property to pay in one payment. many people or investors choose to buy real estate in installments.
– you need to find a home urgently and do not have time to wait. when you choose to buy a property in installments in Turkey, you can receive it directly and dispose of it directly after paying the first payment of the total property value without having to insure the full price.
– If you use the amount you have in other projects or investment businesses, a wide category of rich
– An important alternative to renting, you should know that buying a property in Turkey in installments is far better than having to live on rent because eventually the property will become completely owned by you.
How to buy a property in installments in Turkey?
After you decided what to buy a cash or installment property in Turkey.
now we have come to the most important question. which is how to buy this type of real estate or apartment in Turkey. or what exactly the steps to follow.
You are faced with two main possibilities to buy a property in Turkey in installments, the first of which is that the property is under construction and you buy directly through the creating company, and a contract is organized between it and the seller, in which all the agreed-upon items are included, but you have to bear in mind that you will have to wait for a while It takes a long time before you receive the property and this is one of the downsides to this option.
The second option is for buying real estate in installments. you go to one of the banks that had previously purchased real estate from the construction company. but a mortgage sign will be placed on the property preventing you from disposing of it until all your payments are made.
It is worth noting that ready-made properties in installments are few. but this does not mean that they are not actually available.
But if you are wondering which of the two options is better. you should know that the bank gives you long years to finish the installments. therefore the interest rate that it takes is high. As for the construction companies, the installment period with them is less.
The most important advantages of buying installments in Turkey:
Add to your information that you can obtain real estate residency if the property you purchased is intended for housing.
But if the price of the property is four hundred thousand US dollars or more, you will be able to apply for Turkish citizenship.
Also, you will not have to face financial pressures. as the price of the property will be paid over the long term, and you will not need to borrow.
Advantages of buying real estate for cash in Turkey:
Despite all the advantages that can be obtained when buying a property in Turkey in installments, many people and investors do not prefer this method of real estate ownership and choose to pay in cash, and below we will talk in detail and in full about all the advantages of this option.
1 – No need to think about paying installments:
Some people believe that they do not have to incur debts and installments that will not end for many months.
2 – For many people, it is safer:
you do not need to think about managing the installments on time.
3 – Take advantage of high discounts:
you will get high discounts. as many construction companies offer high offers and discounts ranging between 10 and 20% of the total price.
Where do I look for real estate for sale in Turkey?
The question here is which areas of Istanbul are better to own.
Your choice will vary according to the goal you seek to achieve. and the following is a summary of the most important ones:
1 – If you want to live with your family in a modern and upscale environment with all the necessities of life, you can choose Beylikdüzü in the European side of the city. or Avcilar.
2 – If you want to invest in real estate and get a high return, you should choose the areas that you like quickly and in which modern real estates projects such as Basaksehir, Sariyer, and central areas, in general, are available.
3 – In order to have a high-end life, you have to choose Sisli. when you are looking for cheap real estate, you can choose the Asian side of the city, or rural, or remote areas far from the city center.
Should I buy a property in Turkey at the moment?
It is natural to ask whether the current time is appropriate to buy real estate in Turkey or not. In the end, what matters is that it be an appropriate choice in order to achieve the goals you seek.
According to experts and specialists in the field of real estate in Turkey, the current period is undoubtedly the best for real estate ownership, especially if the goal is real estate investment, where a large profit can be obtained from it during the coming period after prices rise.
The most important conditions for real estate ownership in Turkey:
Through the following paragraph, the most important information on this subject.
1 – Get to know the property owner personally, and get the title deed of the property.
2 – Bring the buyer’s passport and a copy of it, translated into Turkish and certified by the notary public.
3 – must be among the papers, the real estate appraisal document, the earthquake insurance document, and personal photos.
4 – If you cannot attend in person to complete the sale, you can send a power of attorney to a trusted person to act on your behalf.
5 – Make sure that the property is not within the security or military areas. because a foreigner is not entitled to own property in those areas.
Are real estate prices in Turkey high?
Apart from the type of property that you will buy in Turkey, you must have sufficient information about the prices. Are they high or are they appropriate? Although it is rising significantly, it is considered cheap compared to the prices in European or American countries.
Through the following paragraph, you will learn about all the factors and influences that lead to an increase or decrease in real estate prices in Turkey, as this is one of the aspects that you should pay attention to so as not to pay a lot of money in the wrong place.
Property Location and view:
it must always be taken into consideration, as the more important it is, the higher its price. We have a set of directories that point to the distinguished site, which are:
– View of the property (sea, green spaces, or city streets).
– Are there any huge development projects near it (airports/water channels/bridges/tunnels) and others?
– If it is close to the famous historical and tourist attractions.
– Type of property (within a residential complex, or in a separate building. or whether it is a commercial property, or a villa).
.New or newly built properties are more expensive than old properties
Hana Real Estate has provided you with everything you need to know about buy a cash or installments property in Turkey, with a set of information and advice that you need in this field.
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