Dos and Don’ts of Purchasing an Apartment during Construction

When searching for a place to live there are certain steps and guidelines to follow that can help make the process easier and ensure satisfaction with the final decision. Knowing the area and surrounding location is one of the first things that a buyer should look at because this determines whether the morning commute to work will be doable and whether the evening will be filled with noisy neighbours or a quiet community.  

College students, business professionals, retirees and even families all have different needs which is why buying real estate in Istanbul is a personal process. New apartment buildings are constantly being built and are under construction around town and there are advantages to reserving a location early but it is important to review the information and determine if the location, amenities and target group align with what you are looking for. A building that is close to the college campus and appeals to this crowd is probably not the best place for a retiree who prefers a quieter pace and has different needs. Look at transportation and logistics to the places you travel to on a daily basis so that commuting is easy and workable.

Cost is another consideration so check out the various Istanbul real estate prices to see which properties are within an affordable budget range both at the beginning and going forward. New buildings can either start high because they know what they have to offer and want to limit the type of applicants or they can be great deals to generate excitement and sales in the community. If the building is still under construction, buyers should carefully review the plans and see if the management backing the project has other locations nearby.  

Visit these other locations and check out the living conditions, online reviews from tenants about maintenance, rent prices and customer service and ratings about the business for providing timely delivery. You don’t want to secure a location only to find out that the building construction will be delayed or that the company is well-known for poor results and being difficult to work with. Don’t sign any contract until all the above information has been thoroughly vetted and make sure that there is a clause which allows you to get out with no financial penalty if the company defaults on timeframe, cost or other agreed upon terms.  

A high-rise apartment or condo is a great investment and can offer a stunning view of the skyline but it is important to get in there easily and without hassle or frustration in the process. Go online and look over the website with listings that cover the majority of in-process construction projects and find a complex that is located where you need it to be and offers the amenities you are looking for once it is completely finished.  Finalize with the agent so you have a spot reserved to move into once the last detail has been taken care of and the building is ready to accept its new tenants.

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Created on Aug 2nd 2019 04:41. Viewed 465 times.

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