All those interested in the real estate market in Turkey know that it is one of the most diverse real estate markets at all, and this is precisely what made them choose it over other places around the world, but is real estate diversity only what attracts them? Certainly not, as there are many other details that are considered encouraging for them, the most important of which is that it allowed them what it allowed the Turks to do.
In this article, we will talk about an aspect of real estate in the Turkish real estate sector, which is the purchase of properties under construction. What are the advantages of this choice? What are its downsides? What tips should be taken into account? This is what we will learn in detail now.
What are the advantages of buying apartments under construction in Turkey:
Some are hesitant to buy an apartment that is still under construction. However, there are many advantages that lead you to this particular choice and not others. For example, you can often get a better price for an apartment under construction compared to a completed apartment, as construction companies are often willing to sell At a lower price because they need money to complete the project.
Another advantage is that you can usually choose your own finishes in an apartment under construction and this means that you can choose things like the flooring and fixtures that you want instead of being stuck with just anything the builder chooses. The area around the development becomes more built up and desirable, and the value of your apartment will increase over time at high rates of up to 70%.
Tips when buying under construction apartments in Turkey:
Buying an apartment under construction in Turkey is a safe and reliable option, and there is no difference in it, but this does not prevent us from looking at some other aspects of the matter and identifying its negative aspects. There are many observations that must be taken into account, the most important of which are:
- Check the track record of the originator. It is important to do your due diligence towards the developer and check the number of projects they have successfully completed and make sure, do they have any legal issues? Are they respectful? Do they keep the promise they give to customers?
- It is always better to get a loan from the bank as this way, you will not be invested in the project and you can get away if there are delays or other problems.
- Make sure you hire a lawyer to review the contract before you sign anything. This is especially important when buying an apartment of this type as there may be more clauses in favor of the seller than there are for the buyer.
- Most companies allow you to pay in installments instead of all at once and this can help make the buying process more affordable and controllable, just make sure there are no interest charges or other fees associated with paying in installments.
Cons of Buying Under Construction Apartments in Turkey:
There are some risks that you may face when buying an apartment whose construction has not yet been completed, the most prominent of which are:
- The biggest risk when buying an apartment under construction is that the project may not be completed on time or at all and this can happen for a number of reasons, such as financial problems for the building company, delays in obtaining permits, or poor construction quality. If this happens, you may lose the payments and you will end up with nothing.
- One of the downsides to buying an under construction unit is the inconvenience factor. You will likely have to deal with noise and dust during the construction phase, and there may be limited or no access to amenities such as swimming pools or gyms.
- You will probably need to pay a higher price for an apartment under construction, as the developer will need to recoup its costs.
Buying a ready-to-move-in apartment is a good idea in Turkey:
Apart from the projects that are under construction, there are many people who choose to buy an apartment that is still ready for housing, as it is the safest option for them. Here are some of its advantages:
- You will save a lot of time and money as you will not have to wait for the apartment to be built, and you will not have to pay construction related fees.
- The second reason is that you will be able to move into your new home immediately and this is especially useful if you need to move for business or personal reasons.
- The third reason is that you will be able to avoid many of the risks associated with buying off-plan property. When you buy off-plan property, there is always a risk that the construction company may not complete the project, or that the quality and end results do not meet your expectations but with an apartment ready to move in, you can Make sure that what you see is what you get.
Is now the right time to buy an apartment in Turkey?
It is a difficult question to answer as there are pros and cons to buying an apartment in Turkey at the moment, but what is reassuring is that the Turkish economy is currently going through a period of strong growth and this means that apartment prices are likely to continue to rise, so if you buy now, you can make a good profit In the future. However, the drawback is that interest rates are also rising at the moment, so your monthly payments may become more expensive and you will need to weigh these pros and cons carefully before making any decision.
Your winning investment opportunity is presented to you by Zoom Real Estate. Trust that you will be with experts and professionals in this sector and you will achieve many distinguished results that suit you and suit your ambition. You will be with us on field or virtual tours if you are not in Turkey to see the specifications of the most important real estate projects, Specifications, prices, and other details.
Why to choose zoom real estate company for a real estate investment trip in Turkey ?
– helping you finding suitable properties for real estate investment and obtaining Turkish citizenship.
– We offer extensive real estate services in Antalya, where we have
Villas for sale in Antalya with the most beautiful views in addition to all types of residential, commercial and hotel properties .
– Our services extend to various areas of Istanbul where you can find luxury properties for sale that meet your wishes.
– We have properties for sale in Turkey in installments .
– Investing in earthquake-resistant buildings in Turkey and ensuring the best service standards
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