12 TIPS TO KNOW BEFORE BUYING A PROPERTY IN TURKEY
Buying a property is a challenging process on its own let alone buying a property in a different country. It requires thorough research about the laws and regulations as well as the property values. If you have decided to buy a property in Turkey, or any other country for that matter, this guide will provide you with all the tips that you need to know before actually buying the property. If you successfully go through all these steps and consider each of them important, you should not run into any problems and the process should be done easily in a short time. Buying a property is no joke. Check these 12 tips before you attempt to buy one.
HAVE A CLEAR VISION
Before even thinking about buying a house, you should have a clear vision in mind as to what you want to do with the property or what your expectations are. You need to know the reason why you want to buy a property in Turkey. Are you looking for a summer house to spend your summers near the beach and under the warming sun? Are you thinking about moving to Turkey after retirement and spend the rest of your life there? Are you planning on buying a property as an investment? Are you going to work in Turkey? Are you trying to get citizenship in Turkey through buying a property? All of these questions and any other questions you need to ask yourself can help you have clarity. Once you know the reason why you want to buy a property, the following steps will be shaped accordingly.
DECIDE ON THE PROPERTY TYPE
After you have thought about why you want to buy property in Turkey and have a clear vision about it, you can start thinking about the type of property you would like to buy in accordance with the reason for the moving. The type of property you want is closely related to your initial vision. If you are looking for a summer house, for example, the property type will change accordingly. However, this is not the only criteria when choosing a property type. How many members you have in your family, your job and even your pets can change the property type you need. If you have a big family, you can either look for a villa or a big apartment with enough bedrooms. If you have dogs or small kids, you might want to get a house that has a garden for them to enjoy. If you are going to work in Turkey, you might want to choose an apartment or house that is close to work and the property type may be less important for you in that case. Therefore, make sure you choose the right type of property for your own circumstances. You can choose more than one property type if you have different options in mind, however, do not forget that too many options can also be confusing at times. In case of having multiple property type options, know which one is suitable for which purpose.
KNOW THE LOCATION
After deciding on the property type, you need to decide on the most important thing: the location of the property. This step is also related to the first two steps we already mentioned. Depending on your vision, the place you want to live will change. If you are looking for a summer house, you may want to check out the southern Turkey which is usually hot and sunny and the Mediterranean sea is incredible. If you are moving because of your work, you will probably need to move into one of the big cities like Istanbul, Ankara, Izmir or Bursa. Depending on where your workplace will be located, you might choose a property that is in close proximity to work to make life easier. After knowing which city is the best option for your situation, you need to research the districts of that city in detail. Every district has its own features. Whether you want to live in a luxurious area or in a quiet neighborhood, or close to the sea, the detailed district information will help you choose the best one. Do not limit yourself to one district as it may be difficult to find the exact property you are looking for in one area. It may also be a good idea to wander around the district or the specific area you have in mind to see if the location is right for you. Every location has its pros and cons. Therefore focus on a few things that you think is absolutely necessary and important in choosing the district.
HAVE A GOOD FINANCIAL PLAN
As much as it is exciting to look for a new property to buy that will change your entire life, it is a good idea to have a solid financial plan. You do not want to exceed your budget or get into unexpected debt in the process of buying the property. To avoid such bad surprises, have a good financial plan to start with and see what you have. This will also help you in filtering the property options according to their price. Keep in mind that some properties may require extra construction work after buying it. Make sure you have a plan that covers all the possible scenarios. Also, keep in mind that the exchange rate changes constantly. Therefore, you should update your financial plan on a regular basis in accordance with the exchange rate.
CHECK MULTIPLE OPTIONS
After deciding on all the details like the property type and location, as well as having a financial plan, it is time to look for suitable properties. Make sure to check as many properties as possible because you never know which option will be the best one for you. Having multiple options will allow you to compare the properties, see the pros and cons of each property which will also help you see things from a different perspective. It is a good idea not to settle for the first property you find that somewhat fits your criteria. If you do not want to regret your decision later, you should consider all of the options out there. Having multiple options can also be used as a backup plan in case any of the property you want to buy is sold to someone else before you could buy it.
CHOOSE THE RIGHT AGENCY
Choosing the right agent may be the most important tip of them all. In the process of buying a property in a foreign country, property agents are lifesavers as they help you find the best property that fits into your preferences and they also help you with all the paperwork. There are so many different agencies out there. What is important is to choose the agencies that are in the field for a really long time. Do not forget to check the services the agency offers to help you choose the right one for you. Choosing the right agent will make the process of buying a property much easier and effortless as they will carefully listen to you and try to find the best options out there.
HIRE A GOOD LAWYER
Having a lawyer is not a must. However, it is a good idea to have one in the process. Your agency will most probably have a list of lawyers that are trustworthy and that will suit your needs. Having a lawyer will allow you to deal with the legal problems or paperwork very easily. Since you are buying a property from a foreign country, you may not be able to stay in the country during the entire buying process. If you give the procuration to your lawyer, he or she can take care of many details without you being present. This will allow you to monitor the process from abroad without needing to spend your time in the country.
HIRE A PROFESSIONAL TRANSLATOR
Things do get lost in translation! Therefore, having a good translator is more important than you think. Your lawyer may be able to translate the documents needed, however, problems can occur if they are not good enough, after all, they are lawyers, not translators. The agency you are working with should also have a list of good and trustworthy translators. Instead of risking the entire process which is already quite challenging to deal with, hire a translator who can eliminate the possibility of having any problems with your documents.
NEGOTIATION IS THE KEY
Negotiation is not always welcomed, not even in Turkey as you may imagine. However, you should negotiate when it comes to buying a property. Do not be afraid to offer a different amount of money which will be a lot more suitable for your financial plan. If your offer is accepted by the seller, you are in luck! You will get to buy the property of your dreams at a much affordable price. You can’t really go wrong with negotiation as the prices are usually flexible to a degree. Therefore, we highly recommend you try to negotiate before you say yes.
GET ADVICE FROM A LOCAL EXPERT
Since you are attempting to buy a property in a foreign country, there are so many things that you are not aware of the process. Having a local expert with you while touring the properties or talking to the property owners or real estate agents, the local expert can help you immensely. The expert may realize some of the problems that the property has that you missed out or didn’t think would be a problem. The expert can also pinpoint some of the negotiation possibilities by addressing these problems. The local expert can also give you a better idea of the price range in the specific districts and whether the prices you are being offered are acceptable or not. The local expert can also help you with the area where the property is located and whether it fits your needs and expectations or not.
YOU CAN ASK FOR CHANGES
Before buying the property, you can talk to the property owner or the real estate agent and ask for certain changes to be made in the property. If there are certain problems, you can ask for the owner to fix them before you buy it or you can use it to your advantage to lower the price to make the changes on your own. If you are buying the property from a plan, then you have a lot more flexibility with the changes you can make. You can ask for the tiles, the cabinets, the paint or even the inside plan of the property to be changed. You can add more rooms or you can break some walls, make the kitchen bigger or smaller, add in a laundry room or get rid of the balcony. Whatever you need, you can ask for it to be changed if you are buying the property form a plan.
BE CAREFUL NONETHELESS
The process of buying a property is not easy and it comes with all sorts of problems. A mistake made in any of these steps could lead to much bigger problems in the long run. Another problem may occur due to the property itself. It may sound good and you may not see any problems with the property itself, however, there could be things the owner is hiding from you that you will only realize after buying the property. Therefore, be careful with each step you take and always be suspicious of the offers that are too good to be true. It is better to stay on the safe side. Try not to go for a bad agency just because it is cheap, or do not go with a translator who is not a professional in the field due to the prices. Make sure to choose the trustworthy agents and professional lawyer and translator who will make everything much easier for you. You can also get advice from those who have gone through the same process on the internet. There are many forums dedicated to these issues which could make you aware of many other possible threats that you did not know before.