The most important differences between ready-made properties and properties under construction
One of the first things that managed to attract the attention of foreigners to buy real estate in Turkey is the wide diversity of the real estate market, and therefore this has been well received by many people around the world. Among the many options are ready made properties and properties under construction.
You certainly do not know the best option, so we will accompany you in this article to provide you with a comprehensive explanation of each of them, negatives and positives. We wish you an enjoyable reading.
Which is the best ready made or under construction real estate?
Before you choose the property that suits you, you must see the details related to each of them, and this will be through the following lines:
Ready real estate:
With a simple definition, ready made properties are properties that have completed construction work and are ready for housing or investment, also all papers and documents are ready. This type of real estate is especially suitable for those who do not have sufficiently extensive experience in the real estate field.
Among the main advantages of ready made properties:
1 – The ready made property is the option that suits those who do not have time to wait until the construction of the project is completed, as they can move to live in it directly.
2 – It is also suitable for those who do not know many details about the properties that are under construction, as what you see in front of you is what you will buy.
3 – You don’t have to wait for a long time to get the title deed because it is ready.
4 – It is possible to apply for a real estate residence directly or to obtain Turkish citizenship.
Among the disadvantages of ready-made real estate:
1 – It is very rare to find ready-made properties in installments, as often the payment is in cash.
2 – The price of ready-made real estate is more expensive than real estate that is under construction.
Real estate under construction:
As for the real estate that is under construction, it is where the real estate project is under construction and there is still a lot of time until it is completed, and it is an option that suits many people and investors.
Pros of real estate under construction:
1 – Did you know that the prices of real estate under construction increase with the passage of time, and upon completion of construction work, it rises by more than thirty percent.
2 – The prices of real estate under construction are rather cheap, and this option is suitable for those who cannot pay the price of the property in one go, or those with low budgets.
3 – You can find a lot of options that vary in terms of location, specifications and views, and add to your information that with properties under construction you can make the modifications you prefer.
4 – It is a great opportunity to enter the world of real estate investment, as it can be sold easily or rented, in addition, because its price rises significantly.
Cons of under construction real estate:
1 – You may be surprised when buying real estate under construction that there are specifications that do not match the conditions that have been agreed upon.
2 – Sometimes if something goes wrong you won’t be able to make adjustments or repairs.
3 – Sometimes you will have to wait a long time for the construction work to be completed and you can receive it.
The most important tips when buying real estate in Turkey:
If your choice is to buy a property that is under construction or a ready made property, you will need a lot of important advice and information that will help you make the right choice. Here are the most prominent ones:
1 – If your goal in buying real estate in Turkey is real estate investment, then you should make sure that you choose a distinguished strategic location, such as being close to vital sites, infrastructure projects or public transportation.
2 – If you choose to buy a property under construction, you have to be careful, because the possibility of being exposed to fraud is a high possibility:
– You must make sure to include all the terms agreed between you and the construction company in the contract and then document it with the notary.
– You must inspect the real estate on the ground and visit the project site.
– It is important that you hire one of the real estate experts in Turkey or one of the famous real estate companies to ensure that you will not be exposed to real estate fraud, as they have strong relationships with the most important construction companies at all.
– Do not pay the full price of the property in one go, even if the full price is available with you, but it must be divided with the development of the construction stages.
– When buying a ready made property, you must be careful to make sure that there are no problems arising from the properties such as seizure or mortgage.
– You have to bear in mind that the delivery of the property under construction may be delayed.
What are the advantages of buying a property in Turkey at the moment?
If you take a look at the real estate market in Turkey, you will find it crowded with foreigners and investors of different nationalities. What is the reason for that, and is the present time the best time to own real estate in Turkey?
In this context, we can confirm that this time is one of the most important times to search for real estate and apartments for sale in Turkey, whether they are ready or under construction, and the reason for this is the growth that the economic aspect is witnessing in light of the collapse of many economies in the world and the fluctuation of their political conditions.
Real estate prices in Turkey during the coming period are expected to rise significantly, and therefore this is an opportunity for the investor, where he can buy a property at an appropriate price and then wait for a period of time and resell it again.
The real estate market in Turkey offers many options that meet different tastes and budgets, as construction companies are racing to build modern luxury residential complexes.
Study your options well, determine your goal, and contact us so that we offer you the most important real estate opportunities offered by the real estate market in Turkey. We guarantee that you will get the right property according to what you desire and what suits your financial situation.
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