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Are you planning to buy real estate in Istanbul, Turkey? It may be one of the most crucial decisions in your life. It takes a lot of money to get a flat there and you will not like to take any chances. So are you prepared with all the things that will help you make the right decision? If your answer is no (or not sure) then this post is meant for you. Here are some tips that you may use:
1-Decide on Budget (With Some Flexibility)
No matter how good a property is if it is out of your budget (twice or thrice of what you have), you may not be able to get one. It will help you come with a list of properties that may you may be interested in. Within some percentage points above or below of your budget, you may be able to find the most relevant ones. The list will be useful in getting a better deal at the time of negotiation with the seller.
2-Be Clear About Area of the Flat
Do you know the difference between super-built up area and carpet area? For living purposes, you have to be more concerned about the area of the flat that is within the walls of the flat. If you have calculated the price based on super-built up area then what you may get to live in is 15-30 percent lesser area. So be very specific about the area for which you are paying the price.
3-Have Your Financing Options Ready
If you are planning to get a loan, then you have to be very clear about the financing options. How much loan are you willing to take? Will you have enough finances to meet the monthly installments without fail? These are many things that you have to bear in mind before you apply for one.
4-Pay Attention to Complete Details
- Proximity-The property that you are planning to buy is going to be with you for life. Make sure that it is closer to school, hospital, mall, and public transport. You will not like to get surprises later on as changing flat may not be possible later on.
- Inside Flat-With the budget that you have decided you will be clear that your flat is going to have 1 or 2 or 3 bedrooms, 1 or more baths, hall, kitchen, balconies, ventilation, parking, etc.
- Utilities-These things are an absolute 24/7 water, electric, with no sewage issues. You are going to spend a lot of money so you will not like to face any issues at all.
- Common Facilities-Lifts, parks, swimming pools, gym, security, community hall, walking track, and services like security, and utility must be available to live a good quality of life.
5-Go With Clear Title
When you are going to make the payment for the flat, you will want that you are getting a property that comes with the explicit title of yours. It is mandatory as you are going to spend your lifetime earnings (for many of us) on it.
6-Don’t Decide Immediately
The moment you see a furnished flat, you may get excited to decide about immediately. But that’s not how you buy a flat for life. Resist your temptation and compare the flat that you have liked with rest others in the list. You must at-least take three to six months to evaluate and decide about the property.
In The End
When you buy a real-estate in Istanbul make sure that:
- You have paid attention to the details
- It fits in your budget
Featured image courtesy of Lonely Planet.