Here’s What You Should Know About Investing in Property for the First Time
What are the points to consider when investing in property?
If this is your first time thinking of investing in property, you need to apprehend the basics of property investment. Whether you buy a property to invest, live, or obtain citizenship, it might be intimidating to not knowing where to start. Searching certain steps and having an idea of the process of property investing so that the process goes smooth and productive. To have a general idea of the property investment process here’s some points;
If you want to diversify your real estate portfolio, investing in a property in another country is a great step! But for this, you need to do a broad search to understand the procedures of investing in another country because countries may have different requirements and processes. Also, it is important to research the country and visit the country that you are investing in. If you researched to invest in Turkey, then you can start searching to get some information about the city or the area that you are buying.
All in one, researching about property investment, the country you are investing in, and the consultancy agency is a helpful way to make sound decisions.
Create a checklist of your expectations
After getting some knowledge from researching, it is now essential to create a checklist to sort your wants and expectations on the property investment. By creating a checklist, you can easily cross out your points on whether your requirements meet your expectation. Also, you won’t forget the essential points in your checklist. If you have a checklist, then you can follow all the processes without forgetting the necessary steps. Furthermore, it is necessary for you to visit the property site to decide which property is right for you and checks your list.
After creating a checklist, you need to organize your finances so that the property that you are investing in meets your expectations. By deciding on a budget, you can easily decide on a project that fits the range that you’ve chosen.
Talk to a professional
Buying a property in another country is a profitable investment. However, you must consult with a property investment adviser to complete your experience and investment smoothly. If you choose a local expert, they will help and guide you from the selection of investment type to during the purchase and after. Therefore, they would protect you from poor investment. If you want to learn more about the advantages of an investment consultant, go to our Working with a Professional Real Estate Consultant – Advantages and Roles of a Consultant article.
With its sectoral knowledge, as Investo Global, we don’t see our clients as a customer, we share the enthusiasm with you in all steps in your investment. If you are thinking of investing in Turkey, we will make sure your experience goes as smoothly and quickly as possible.
Determine which investment type is right for you. Do you want to invest in a property (office, apartment, etc.)?
Before making a decision on a property, determine your investment goals. Decide whether you want to invest in an apartment, office, or house. The more research you do the more you will have the information to narrow down your checklist. If you decide on an investment, consult with your investment adviser to start the purchasing process.
Once you’ve chosen the type of property to invest in and consulted with your investment adviser, you can start visiting the properties. It is essential to visit the property in person. After you’ve chosen your property, let your investment consultant know so that they can guide you through the purchasing process. Also, if you are investing property to obtain citizenship, your investment consultant will guide you through this process too.
Familiarize yourself with these keywords.
While buying a property in Turkey, there are some keywords that you are going to come across. These can be;
TAPU (Title Deed): Tapu is the most important word to learn while buying a property in Turkey. Tapu is the evidence of ownership over your property. So, what does that mean? It means that if you don’t have tapu (title deed), you don’t own the property.
ISKAN (Habitation Certificate): The local authorities give the Habitation Certificate (ISKAN) on the location of the property. If the property is fully completed and ready to move then, you can get the Habitation Certificate (ISKAN). What happens if you don’t obtain ISKAN? You can’t connect the utilities, such as electricity, gas, and water to your property.
Don’t shy away from asking questions.
It is crucial to make your investment without a doubt. Therefore, if you have any uncertainty and questions about the process, or want further information, don’t hesitate to ask your local consultant firm. As Investo Global, we are more than happy to answer all your questions so that you can make your investment with full knowledge and ease.
If you have any following questions about buying a property or thinking of investing, you can contact us.