Turkey’s real estate market has experienced growth in recent years, attracting expat homebuyers from all over the world seeking affordable housing and quality of life. Buying resale houses in Turkey can provide several benefits to expats looking for a new home, particularly those who want to invest in a property that offers more value compared to new constructions. Moreover, buying a resale house can offer access to established communities with a sense of neighborhood, accessible locations, and more affordable housing prices.
Benefits of Buying a Resale Turkish Real Estate
There are a lot of pros of purchasing a resale house compared to new construction. The most major ones include mentioned below.
New constructions come at a premium price, making them less accessible to many homebuyers. On the other hand, buying a resale house provides an opportunity to acquire property at a lower cost, while still enjoying the benefits of a well-maintained property.
More Affordable Housing Prices
Resale houses are often more competitively priced than new constructions. This makes them an excellent option for homebuyers who want to save money without sacrificing quality or location.
Buying a resale house offers the advantage of being part of a community with an established sense of neighborhood and culture. The neighborhood may also have existing facilities and infrastructure, such as schools, hospitals, restaurants, and shops.
Resale houses are often located in both bustling cities and serene environments, providing the perfect blend of accessibility and tranquility. Homebuyers can choose their preferred location based on their preferences and needs.
Advantages for Expats Moving for Permanent Residence
- Less paperwork and bureaucracy
Expats who opt for resale properties have fewer legal hurdles to jump through, making the process of acquiring a property easier and quicker. This is particularly advantageous for those planning to move to Turkey permanently.
- Existing infrastructure and amenities
Buying a resale house often means that the property already comes with existing infrastructure and amenities, such as water, electricity, and internet connections. This can save time and costs associated with installation.
- No language barrier with neighbors
Buying a resale property in Turkey provides expats with an opportunity to live in an established neighborhood where the language is not a barrier. This ensures ease of communication and integration into the community.
- Historical value from renovations
Resale houses often have historical value that adds character and uniqueness to properties. Expats can renovate the property to maintain its original charm while adding modern features to suit their needs.
Retirees in Turkey
Turkey offers a relaxed lifestyle with lower living costs, making it an attractive destination for retirees seeking a peaceful life. Turkey is known for its safety and security, providing peace of mind and comfort to retirees who want to enjoy their retirement without worrying about crime or violence. Moreover, the country boasts a warm climate and natural beauty, making it an ideal location for retirees looking to enjoy outdoor activities and explore nature. Turkish people are hospitable and friendly, making it easier for retirees to integrate into the community and make new friends.
Offers from Developers and Real Estate Agencies
Developers and real estate agencies offer different packages and services to homebuyers. However, buying a resale house can provide more value compared to new constructions.
When purchasing a property, it is crucial to buy from reputable developers or real estate agencies. This ensures that the property meets legal requirements, and buyers do not fall victim to fraud or scams. For instance, Turk.Estate cooperates only with trusted suppliers and developers, so this property aggregator can serve as a reliable source for your own monitoring of the Turkish real estate market.
Special Considerations for Foreigners
Foreigners need to understand legal requirements and regulations when purchasing a property in Turkey. This includes obtaining a residency permit and registering the property. Non-Turkish nationals face tax implications when purchasing a property in Turkey. They need to be aware of the applicable taxes, such as VAT and stamp duty.
Foreigners can obtain financing through Turkish banks or use their home country’s financial institutions. It is crucial to research and compare financing options to get the best deal.
To ensure a smooth buying process, it is advisable to hire a reputable lawyer and translator who can assist expats in navigating legal requirements and language barriers.
Summary on Resale Real Estate in Turkey
Buying a resale house in Turkey provides several benefits to expat homebuyers, such as affordability, established communities, and accessible locations. Additionally, retirees can enjoy a relaxed lifestyle with a lower cost-of-living, a safe and secure environment, warm climate, natural beauty, and a hospitable community. When considering purchasing a property in Turkey, it is essential to compare the advantages of resale properties versus new constructions, buy from reputable companies, and navigate the purchasing process with the help of a reliable real estate agent or lawyer. It is also crucial to understand legal requirements and regulations, tax implications, financing options, and recommendations for reputable lawyers and translators.
In conclusion, buying a resale house in Turkey can be a great option for expat homebuyers looking for a cost-effective, established community with a sense of neighborhood, accessible location, and historical value. Retirees can also enjoy a relaxed lifestyle with lower costs of living, safety, and security, warm climate, natural beauty, and hospitable communities. With the benefits of resale houses and the help of reliable professionals, Turkish real estate investments provide an opportunity for expats to enjoy a comfortable, peaceful life in one of the world’s most beautiful countries.