Guide To Make The Most Profit By Buying A Second-hand Property In Istanbul

Buying a second-hand property in Istanbul can be a smart idea considering that the market is flooded with reasonably priced pieces of property. Both commercial and residential, Istanbul provides ample scope for buying a second-hand property anywhere in the city. Be it the Bosphorus coastlines offering luxurious living, or an office space somewhere in Maslak, you can find some of the best deals if you want to invest in second-hand property.

If you look for “second-hand property in Istanbul near me”, you will be left amazed by the options. Several people who are willing to sell off their properties that are in perfect conditions. All you need to do is explore several options before settling for THE ONE and keep in mind the following factors.

The purpose of the purchase

Depending on the purpose, you can opt for a second-hand property in Istanbul of different price and age.  In case you want a residential property where you will be moving in, the age and condition of the property play the most important role. If it is just a real estate investment or a holiday place where you would not spend most of your time, then you need to look for a low maintenance property at the right location.

In case you are not a frequent visitor in Istanbul, all you need is help from some experts in getting the right information to make your purchase a successful one.

Location

The importance of location in buying any piece of property- new or second-hand, residential or commercial- requires you to go for a location that suits you the best. Often you may have to do a lot of exploring to find a resale property in Istanbul that is in your desired location, but with the help of trustworthy agents, you can get the best deal.

You need to consider that the property is in a developed or at least a developing area to ensure that the property value appreciates with time. Also, you need to consider factors like proximity to hospitals and educational institutions, and how well connected it is from other important places you need to visit often are vital when investing in Istanbul second-hand property.

Property Inspection

Before you invest in any second-hand property in Istanbul, be prepared for some thorough property inspection. Look for any major structural defects or repair work that you need to undertake if you invest in the property. Every resale property needs a little remodelling depending on its age and condition. So, before you invest in a property, make an estimation of the repair cost for a better bargain.

Verifying All Important Documents

The most vital condition to look for while purchasing any property is the availability of all the required documents and its authenticity. Other than the title deed and latest tax certificates, go through all the other essential documents like No Objection Certificate and possession certificate. Besides, ask for the marketable property title that will tell you about the age and the list of previous owners of the property if any.

Any investment in property calls for immense research and fact-checks if you want to end up with the right piece of property. When it comes to owning a pre-owned property, the research work doubles. You can make significant profits if you buy a second-hand property in Istanbul rather than going for a new one. However, consider all the conditions like age, documents, location, and condition of the house to make it a successful purchase.