Advantages of buying an apartment in Istanbul in installments 2023

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Advantages of buying an apartment in Istanbul in installments 2023

Benefits of buying an apartment in Istanbul in installments

Advantages of buying an apartment in Istanbul in installments 2023
14th November 2022
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In light of the huge urban renaissance that Istanbul is witnessing and the great demand for buying apartments in it, the demand has increased for buying installment apartments because real estate prices in that city are not cheap, and therefore it may be difficult for everyone to bear the cost, and therefore they found this type of apartments the ideal solution.

 

The importance of buying apartments in Istanbul in installments

It is noted that the real estate market in Istanbul offers many advantages to those who buy apartments in installments, and one of the biggest of these advantages is the system of owning your home without having to pay the full price in advance (installment apartments). This is a great option for people who want to own their own home but may not have the full amount required to do so.

Another benefit of buying an apartment in installments in Istanbul is that it can help you save money in the long run. This is because when you buy an apartment in installments, you are only required to pay a small portion of the total price each month. This means that you will have more money left over each month to save or to spend. on other things.

When you buy an apartment in installments in Istanbul, you are really investing in your future. You are buying a property that will appreciate in value over time, and you are also benefiting from living in a wonderful city.

 

Steps to buy an apartment in installments in Istanbul

Follow these steps when buying an apartment in Istanbul, as they are like notes in case you are not informed enough about this matter:

1 - You will need to deposit about 30% of this total purchase price, which is non-refundable and paid to the seller. In this context, it must be noted that the larger the down payment, the more you can get a discount on the total price.

2 - You will need to obtain approval from the bank to obtain a mortgage and the mortgage will be on the remaining 70% of the purchase price.

3 - You will need to pay monthly mortgage installments, in addition to the monthly maintenance fees for the residential complex, and these fees can accumulate, so it is important to include them in your budget so that you are not surprised later by what you did not calculate.

4 - You will need to start paying monthly or yearly installments, according to the terms of your financing agreement.

 

Notes when buying apartments in installments in Istanbul

Here are many notes that you should take into consideration when you are in the process of searching for apartments for sale in Istanbul, whether in installments or other options.

- The price of the apartment will be spread out along the installment plan, so you will need to be able to afford the monthly payments.

- You may be required to make an advance payment upon signing the contract, so be prepared for those expenses as well.

- Once you have purchased the apartment, you will be responsible for paying all associated costs (such as utilities, property taxes, etc.), so make sure you are prepared for these additional expenses.

- Ensure that the apartment you are buying is properly registered with the city and this can be done by checking with the city planning department.

- What you need to do is make sure that you get a good deal regarding the price of the apartment. You can do this by comparing prices from different sellers.

- Make sure that the installments are properly structured and that you will not have any problems with it and you can do this by asking the seller for the contract which lays out all the terms and conditions of the sale.

- It is important to know that if there is any delay in paying the installments on time, you will incur fines.

 

Reasons to buy an apartment in Istanbul

Here are the most important reasons that drive a foreigner to own real estate in Istanbul specifically, and not in other developed cities around the world or other Turkish cities:

- Istanbul is a world-class city, it has everything you could want in a city, including great food, culture, nightlife, and shopping.

- The real estate market in Istanbul is very strong. Prices have been rising significantly for years, and there is no sign of it slowing down. This makes buying an apartment now a great investment.

- Istanbul is centrally located and easy to get to from anywhere in the world, which makes it a great place to live if you travel a lot.

- The cost of living in Istanbul is relatively low compared to other major cities and this is due to a number of factors, such as the low cost of food and transportation.

- There are many apartments available for purchase in Istanbul and this means that you will be able to find an apartment that meets your needs and budget.

 

How to buy apartments in installments in Istanbul?

The current economic situation in the world has made buying an apartment in installments through a construction company or a Turkish bank a more attractive offer for many people. There are several reasons for this, but the most important of them is that it allows people to spread the cost of their purchase over a longer period of time.

 If you are buying from a construction company, they often give you a discount if you are paying in installments and in addition, if you are buying from a Turkish bank you will get a longer installment period.

 

The importance of buying apartments with cash in Istanbul

Despite all the benefits of buying apartments in installments in Istanbul, there are many people who choose to buy with cash for several reasons, including:

1 - If you finance the purchase with a mortgage, you will have to pay interest on the loan and this can accumulate over time and end up costing you more than the purchase price of the property itself! By paying cash, you can avoid these extra expenses.

2 - Sellers are often more willing to negotiate a price when they know they won't have to deal with the hassle of financing.

3 - One of the biggest advantages of paying cash for an apartment is that you can finish the buying step much faster than if you were to take out a loan and this is especially useful if you are looking to move into your new place as quickly as possible.

 

WHY MUST YOU CHOOSE BINAA REAL ESTATE COMPANY AS A COMPANION IN YOUR REAL ESTATE INVESTMENT JOURNEY IN TURKEY?!


- It is partnering with the most trusted and successful construction companies in the construction of buildings and residential complexes in Turkey.
- Take your hand to choose the right property.
- It assists its clients in the procedures for obtaining real estate residenceTurkish citizenship, and Turkish passport.
-Signing contracts and required papers and legally ratifying them.
- Our motto is seriousness and credibility in dealing to ensure our clients successful real estate investment in Turkey.

 

For more information about the real estate sector in Turkey, just follow our website, through which we monitor many topics related to it, and get important advice that will lead you to the right choice.

 

Related articles :
The guide of real estate investment in Turkey 2022
Latest updates on Turkish citizenship and real estate residence
Luxury apartments for sale in Istanbul
How to obtain a Turkish passport?
The journey of looking for apartments for sale in Istanbul
Houses for sale in Turkey in installments
Villas for sale in Istanbul
Best offers for apartments for sale in Turkey 2022
How to obtain Turkish citizenship by real estate investment?
Steps to buying an apartment in Istanbul
Tourist Residency and Real Estate Residency in Turkey
The best real estate investment areas in Istanbul
#Binaa_investment    #real_estate   #Turkish_citizenship
#Istanbul_apartments    #real_estate_investment

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