NEW BUILD PROPERTIES OR EXISTING PROPERTIES? WHICH TYPE SUITS YOUR INVESTMENT? | Property in Turkey
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Property in Turkey

NEW BUILD PROPERTIES OR EXISTING PROPERTIES? WHICH TYPE SUITS YOUR INVESTMENT?

Posted by Property In Turkey on 25 January 2016
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The time has finally arrived; you are going to invest in one of the most appealing countries in the world that is Turkey. However, making up your mind about the investment is not enough, the process consists of more details than expected. Choosing the city, planning your budget… And what about the type of your future property? Have you decided yet? If not, we would like give some information about new build properties and existing properties so that you can make your decision easier.

• New Build Properties
First of all, new build properties give you the opportunity to design the property depending on your wishes and needs. The design of the property is very important and you should make the necessary arrangements based on the current trends of the real estate market in Turkey if you are going to invest in it. Or if you are going to live in this house with your family, design how you like it, there is a variety of alternatives for everything about the decoration and the customization such as the floors, the walls and more.

Every new thing has this charming thing; when you have a new car or even a new book, it smells nice, right? If you are buying a new property, the house will be perfectly clean and will be having a nice odor. In addition to this, every system in the property like heating, water and similar things will be new.

Nevertheless, there are some negative features as well. If you are thinking to re-sale this new property, its value can be less than the cost of the construction of the property. It does not happen all the time, but it is important for you to take necessary precautions. Plus, you should keep in your mind that you are investing so as to get an income but during all these constructions, you will not be able to gain any income; it is better for you to plan your budget according to this fact.

• Existing Properties
The most-known positive fact of the existing properties is that you can buy an existing property below the market value which means that you can buy at low price. You can even buy a stunning villa in Mudanya or a luxury residence in Istanbul for a reasonable price if you do your research well.

Normally, the buying procedure can last up to 150 days but when it comes to the existing properties, this duration can be shorten like around 60 days.

When you find a property that needs some renovation, you can increase its value renovating the property both from within and outside. But you should keep in your mind that all these necessary renovations may need higher expenses.

Remember the fact that you can design a new property however you wish? Unfortunately, when existing properties are of concern, there is always a less choice since you are choosing a property that already exists for a long time.

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