Obviously, we all are worried about the costs and benefits of any decision in our lives. Buying a house in a Turkey or any foreign country is no exception! Therefore, you are definitely right in being extra careful when weighing your costs and benefits. Big financial decisions such as buying a real property requires due care. In this post, you can find all the answers to why buy a house in Turkey. At first, getting more information about Turkey might ease your initial concerns. To get more information about Turkey, we suggest you read our next article: Quick Facts about Turkey
Big financial decisions require more investigation effort to avoid any losses and maximize your return on investment (ROI).
Your main costs in buying a property are;
- Initial dollar costs,
- Potential maintenance costs and
- Risks of owning a property.
Your main benefits will be;
- Title of your dream home,
- Increases in real estate prices (capital gains) and
- Rental revenue or opportunity cost of the house if you live in it.
Developed Real Estate Market
Turkey has a very developed real estate market with reliable real estate developers and realtors to rely on. However, there are also swindlers, frauds and scams that you should avoid as a potential buyer. Thus, it is best if you exercise due care particularly in your initial property search. This will help you find reliable realtors and solicitors who will keep you away from trouble from the beginning. In case you want to know more about this issue, you can read our blog: How Can You Avoid Fraud & Scam While Buying a Property?
Plenty of Property Options
Turkish construction companies are renowned for developing a wide range of real estate alternatives to satisfy a variety of demands. As a potential estate buyer, you will have plenty of property alternatives to choose in Turkey. In other words, having multiple alternatives mean no one will pressurize you to rush things against your will. Therefore, you may always find your dream house among available alternatives at your own pace. Nonetheless, timing of your investment determines how profitable it will be. In this regard, it is best to watch rising estate prices as well as fluctuating exchange rates. At this point, it is best to ask professional help from a reliable realtor and build trust. Besides a reliable realtor will help you avoid fraud and ease your legitimate concerns.
Buying real estate in Turkey and applying for Turkish citizenship are much easier than you imagine. We are here to help you find your dream house and guide you to apply for Turkish citizenship.
Always apply safety measures
Once you find a reliable realtor you still can have control over the process. For example, you may ask your realtor to arrange physical or virtual tours in property neighborhoods. Physical inspections are among safety measures to ensure a wise investment decision. Besides, field visits allow a closer look at your real estate options. Hence, these tours will help you see whether the properties actually meet your needs. Additionally, physical tours help you evaluate your preferred neighborhoods.
As you narrow your options and come to a point to make a decision, safety measures become top priority. At this point, you must check a series of official documentation and conclude final inspections. To this end, construction and residential permits and notarized sales contract must be in line with regulations. After initial checks confirm all records are orderly, terms of payment and official title transfer will take place. Additionally, buyers may actively be involved to make sure their property is free of liens, encumbrances, and mortgages. However, active involvement in a technical process requires good level Turkish language skills. Once again, finding a reliable realtor is invaluable as competent realtors also help buyers in translation. Therefore, finding a reliable realtor in your initial search is key to securing a profitable and smooth transaction in Turkey. Moreover, realtors may assist your settlement in your new house. Every step of the process, your realtor will be there for you.
Turkish real estate market is historically the world market with highest returns as of 2021 Q2 per OECD data. Therefore, profitability gives you the first reason to buy a house in Turkey.
To find more about this topic, you can read our article: Is It Profitable to Buy a House in Turkey?
Second important reason to invest in Turkish real estate is the right to apply for Turkish Citizenship. Remarkably, property investment of only $250.000 will allow you to apply for Turkish Citizenship. After making the investment, you may get Turkish Citizenship for you and your family. However, if you apply for Turkish Citizenship, you will not able to re-sell your property for three years. Thus, this restriction will be inscribed into the title registration journal as a lien.
Obviously, there are plenty of reasons why you should invest in Turkish real estate. To find out more, please read our article about “Turkish Citizenship by Real Estate Investment”
You may always ask for a professional opinion
You may still have more questions about how to get Turkish citizenship by real estate investment. In this case, please request an initial consultation session in person or online via WhatsApp, e-mail or send us a message on our website.