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Things You Need to Know Before Buying Property in Istanbul

Things You Need to Know Before Buying Property in Istanbul
Publication date: 2019-08-22 Category: Investment in Turkey

 If you are looking to buy property in Istanbul, then you have come to the right page. Here are some important things you need to keep in mind before you make this huge investment.

 

Check with your consulate first

While most foreign citizens can buy property in Istanbul, it is advisable to check with your respective consulate before you make an investment. Once you have their go-ahead, you can start looking for local real estate agents who can help you choose the right location based on your budget.

Choose the right real agent

When you are considering Buying Real Estate in Istanbul, it is best to involve a trustworthy local who can help you make an informed decision. Reach out to local real estate companies who can setup property viewing and also act as your translators while transacting with the stakeholders. However, you need to ensure that you are working with a trustworthy agent so do your research and hire the right one.

Inspect your prospective property properly

When you are viewing potential properties, make sure that all their previous utility bills such as electricity, phone, natural gas etc. have been paid off. You must also verify that the title deed is clear of all dues. Additionally, you must ask the owner if the structure is resistant to natural calamities such as earth quakes. Needless to say, inspect the property thoroughly to ensure that everything is to your liking, in case you plan to live there for long.

Choose your neighborhood wisely

When you are checking out properties in Istanbul, you will notice that the neighborhood is different from one another and their prices vary drastically. So if you haven’t made up your mind about the city yet, then you should take a tour around the areas of interest and review properties that meet your requirements. Do you want a house overlooking the Bosphorous or do you want to stay in the mountainous region? You need to define your priorities based on the lifestyle you want and then assess the neighborhoods based on those factors. If you are pressed for budget, then you should look for properties that are away from the city or in the suburbs that are much quieter and cost lesser than their city counterparts.

Understand the bureaucracy

Once all the basics are out the way, now it is time to finalize the deal and sign the proverbial dotted line. However, in Istanbul, things may get a little tricky at this stage. Make sure you are fully aware of the local laws to move ahead in the right direction. You must also acquaint yourself with the guidance page of Ministry of Foreign Affairs and seek help from a legal advisor before you move forward.

After covering all the bases, it is time to relocate to your beautiful property in Istanbul that you can call your home sweet home!


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