Buying a house in Turkey for the first time

When you buy a house for the first time in Turkey, you are on a date with many observations and inquiries, especially if you do not have sufficient experience in the real estate market in general, and in the Turkish real estate sector in particular, so we at Fanar Realty wanted this article to be the most important and helpful guide for those interested in buying real estate in Turkey for the first time. 

Many details and information you will find when you continue reading the article:

Why do you want to buy a house for the first time in Turkey

This is the first and most important question in the journey of owning real estate in Turkey, whether for the first time or if you have had previous purchase experiences, but it is very important to ask yourself this question to know the desired feasibility of owning a property or home in Turkey for you, and whether this step will satisfy you or not?

• Is your goal only housing and stability?

• Or do you want to invest in real estate? Do you have a plan to invest or not?

• Do you want to buy a property only in order to obtain a real estate residence in Turkey?

• Or do you want to buy real estate to obtain Turkish citizenship?

• Or are you looking for a safe wallet for your money?

Many questions that you must have one answer to, either yes or no, in order to clearly define the steps to be followed when owning real estate, the stages required of you, the procedures, and certainly the budget allocated for that. 

Since you did not buy a property in Turkey earlier, this is no It is never scary and does not cause concern, because the desire to own a property or a house is an inherent desire for all people wherever they are, but what is frightening is that you buy a property and you do not know why you bought it. To determine the reason(s) that prompted you to consider owning a property in Turkey before you buy for the first time.

Tips when buying a property for the first time

A set of important tips we have prepared for you in the context of our conversation about buying a home for the first time in Turkey so that this experience will be at the highest levels of safety, and to be at a high level of reassurance and satisfaction:

Focus well on the site

Some may think that the word “location” for the property is only an abbreviation for specifying the state and neighborhood in which you will reside. Yes, this description can have a large share of determining the location, but the sites are not considered the same for all people.

Someone may tell you to buy in a place “such” as there are shopping malls and close to the metro station, for example, and near the university, yes, they are distinctive characteristics, but what if the house is far from your work? 

Note here that we told you at the beginning that you must determine your purpose of owning the property in order to know well where you will choose the address of your property?

If you want the house to live

if the intention is permanent housing, then it should be close to your place of work, or transportation and roads that lead to your place of work, and you should also choose it near the university where your son studies, if possible. The real estate options offered, in terms of the services provided within the residential complex, the proximity to commercial malls, and vital and touristic places. If you want temporary housing during the vacation times you spend in Turkey, it is better to choose a quiet place away from the city center, the noise of cars, work congestion and the hustle and bustle of life If you want the house for investment, here your options will be wider, and you will choose the site that brings you the most profit, and that fits your budget for buying a house in Turkey.

How much will you pay to buy your first home?

Find out the real estate prices in the state in which you will reside and the different neighborhoods that you will choose, then compare them with the budget you monitor for buying your first home in Turkey. For example, in Istanbul, the average price of an apartment of 100 square meters:

• In a residential complex: starts from 120 to 170 thousand US dollars

• Outside residential complexes: starts from 50 to 80 thousand US dollars

And if you want to obtain Turkish citizenship by buying a property in Turkey, the amount paid must be at least 250 thousand US dollars. 

Pay attention to the surroundings of your home. 

One of the things that attract attention when searching for a property for sale in Turkey is to think about the facilities and centers surrounding and close to your home, and the focus is mainly on:

• Modern transportation and transportation stations

• Government and service centers

• Shopping centers

• Schools and Hospitals

• Gardens

• Bank branches and ATMs

• Postal branches

The closer you are too many of the vital centers mentioned above, the better and more appropriate your experience of buying a property will be for you, and contribute to increasing your comfort while living in the house, and even in investment. Being near the vital and entertainment centers makes your profits from real estate investment greater.

Focus on the interior specifications of the house

The better the services and interior specifications of your home, the greater your chance for comfort, and the things that you should focus on in this regard:

• Is the house in a residential complex, or not? What are the services provided in the complex?

• Floor No.

• Is there a balcony or not? And the look

• Area

• Room styles

• Home interior finishing

• Ventilation and lighting inside the house

• Building age

The balance between your ambitions and your capabilities 

Your balance should always be between what you think of owning and what you monitor from a carefully thought-out financial budget.

Do not pay more than you can bear, and do not buy a property that does not achieve your ambition, but rather search, consult, and try to get your balanced choice.

Pay close attention to legal matters

Always be aware of real estate laws, and it is preferable to hire an expert or lawyer when owning real estate in Turkey to ensure that you obtain the property in sound legal ways, and that your real estate ownership is registered in the Title deed records in Turkey and is officially recognized. 

Listen to the experiences of your predecessors 

If you have relatives or acquaintances Or friends who have had the experience of buying a property in Turkey, it is useful for you to ask them and inquire of them about the most important procedures and advice to follow, and be sure to ask those who have a close experience of owning real estate so that their advice is closer to your reality.

Challenges of owning your first property in Turkey

You have many challenges when buying a home for the first time in Turkey, the most important of which are:

• The budget and the amount that you will pay to buy the property, as many are risking large sums in the field of real estate, without studying the feasibility of paying this amount

• Also, the other challenge is to buy a property with bad specifications just because you do not have enough budget for that, and this is also one of the problems that will bother you to buy your first home.

• One of the challenges is also obtaining financing for owning the first property, either through the purchase of the property in installments or through a mortgage, and here the focus is on: the monthly payments, the sufficient period of time to pay the installments, and whether you will have the ability to pay the installments on time.

In general, the speed in completing the experience of buying your home in Turkey may lead to many problems and surprises later, so give more room for thought, research and advice

Statistics for buying a home for the first time in Turkey

According to data issued by the National Statistics Institute in Turkey, the number of properties sold for the first time in Turkey amounted to about 469,740 properties out of 149,316 properties that were sold in Turkey during the past year 2020, meaning that the percentage of homes sold for the first time in Turkey out of total real estate sales is about 31.33%. 

The urban transformation plans in Turkey have contributed to a significant increase in the number of new home sales in Turkey, as Turkey plans to build millions of new housing units over the next few years.

Fanar Realty helps you buy your property

Fanar Realty contributes greatly to providing services that help you to get a house in Turkey, as we have a very large database of the latest and finest real estate in modern residential complexes in Istanbul. 

With distinguished services for real estate tours, consultations, ownership procedures, title deeds, and other services The ideal services that make you in the best conditions of comfort when owning your property in Turkey.

Buying a home for the first time in Turkey is an important step with multiple positives. In this report, we have helped you to fully understand the details of real estate ownership for the first time, the challenges you may face, and the necessary advice, in addition to providing you with statistical information supporting the report.

To make Fanar Realty your number one real estate advisor in Turkey.