The Most Important Things To Consider When Buying A House
Buying Property is a big investment. Therefore, there are many things to consider when buying a house, and you might find it hard to decide on which house to buy and in which circumstances.
You need to consider everything in detail and elaborate on your decision, because even the smallest mistake may cause serious risks for the buyer and seller alike.
Whether you are the buyer or the seller, there are many criteria you need to deal with. As Realista Turkey, we’d like to talk about some key points:
- Clearly identify your budget and how much flexibility you can be
- Elaborate all the options,
- Check if there is a mediator for the house you’d like to buy,
- Research whether the house is suitable for housing credit,
- Compare the quotation with the market value,
- Ask if there is hypothec or levy on the house,
- If it is newly painted, check if there is humidity.
Things you need to consider when applying for a housing credit:
- Compare different credit options,
- Prepare your payment plan in line with your budget,
- Learn expenses for file and insurance,
- Investigate additional products like credit cards or automatic payment orders.
Don’t Buy a House Without a Building License
One of the first things to consider when buying a house is whether it has a building license or not. In fact, the law forbids the sale of houses without a building license -however, you still need to be careful.
Ignore the seller if they say the licensing process is taking long or they can sell it with a receipt or deposit, or else you’d be investing in a project that will never be completed. Besides the building license, learn about the occupancy certificate and construction servitude.
Investigate the Earthquake Risk
Many areas in Turkey are in the high-risk zone. Therefore, one of the main things to consider when buying a house is how risky the area is. Houses with high risk are gentrified as per the law. If you buy a risky house, you might find out it will be bulldozed to the ground. Therefore, it remains as one of the important things to consider when buying a house.
See The House Yourself
No matter how detailed the photos or videos are, they might trick you. If you are going to buy a house that is still in construction, make sure you elaborate on the project details. Nowadays, there are graphical visuals called RENDER. Seeing only the mini model houses can be risky.
Check the Hypothec and Levy Records
Legal things to consider when buying a house constitute high risks. If there is hypothec or levy on the house, you will face serious problems in the future. For example, the house might be sold due to the constructor’s debt. Therefore, make sure the house is free of hypothec and levy.
Things to Consider When Buying a House That is Newly Constructed
If you’ll buy a brand-new house, ensure that the seller company is reliable. Don’t forget to review their portfolio and references. Stay away from badly reviewed companies or firms that didn’t complete the projects.
You might need to bear unexpected expenses when buying a new house. Make sure there is no humidity in the newly painted apartments. Learn the monthly fee before signing any paper. Confirm the gross and net sizes of the house are written in the contract. Unless it is a turn-key house, make sure you add the delivery date in the contract.
One of the things to consider when buying a house for citizenship purposes is the additional fees. Realista Turkey guides you through all of the legal processes.
How to Choose Facade
One of the things to consider when buying a house is the direction it faces. There are unique cons and pros of south and north facades. Houses that are facing the south are more likely to heat well. If you want a warm house with plenty of daylight, prefer south facades. However, it might get too hot during summertime.
Houses facing the north are more affordable. If the living room and bedroom face the north, you might lack sunlight in your living areas. However, northern facades might be more suitable in areas with cold and wet winter.
Title-Deed Related Things to Consider When Buying a House
Checking the title deed is among the important things to consider when buying a house for a smoothly progressing process. You can visit the Directorate of Land Registry for any question you might have in mind. Check the Turkish Catastrophe Insurance Pool policy, tac debt, and the occupancy permit. Negotiating with the seller about the payment of the title deed fee can save you time.
Additionally, when declaring the house to the Directorate of Land Registry, you must state the price you paid to eliminate any future risk.
Who Should Pay the Title Deed Fees?
The seller can come to terms with the buyer on who will pay the title deed fees. If they can’t agree on this issue, they can share the expenses. The title deed fee is equal to 4% of the property price, which the parties can share as 2%.
How to Pay When Buying a House
There are different methods you can follow when paying for the house. You run the highest risks if you choose payment in person. Therefore experts strictly suggest you ignore this method unless there is absolute trust between the buyer and seller.
Another method is transferring the money to the seller’s bank account using EFT. The buyer should write the address in the description box and state that it is a payment for the real estate sale.
Title deed interchange and blocked check methods are also widely used. Those who’d like the follow the former can receive an electronic payment number on E-Devlet. The payment is transferred to the Takasbank account, then to the seller when the title deed processes are complete. In the blocked check method, the buyer makes a request to the bank of their choice, then the seller removes the blocking after the notary procedures. Both of these methods are designed to protect the buyers and sellers alike.
The Most Important Things To Consider When Buying A House