Renting vs. Buying a House Turkey – Which is better?
Renting vs. buying a house Turkey, which is better? At some point, this question comes up in everyone’s life. Therefore, in this article from Ebla Real Estate, we will talk about the nature of renting a house in Turkey and the nature of buying a house in Turkey, the advantages of both of them, and which is better for foreigners.
Introduction:
There are several differences that make renting and owning property distinctly different. Therefore, you must understand the nature of each option in addition to its advantages and disadvantages, then choose the best for you.
Moreover, whichever option you choose depends entirely on your lifestyle and financial situation.
Advantages of renting a house in Turkey:
1. More flexibility:
One of the biggest benefits of renting a house is definitely the freedom that it provides you. Moreover, you have more flexibility, as you aren’t necessarily tied down to your property. Furthermore, if you want to move across the country, it’s a lot easier to break a lease than sell a house.
2. Less expensive:
Another financial benefit of renting is having access to amenities that would otherwise be an enormous expense. For example, an in-ground pool or a fitness center come at many midscale to upscale apartment complexes with no additional charge to tenants. In addition, when you rent a house, you can save money and invest.
3. Saving time and effort:
Renting a home means that the landlord takes care of maintaining the apartment, repairs, large renovations, appliance replacement, painting, plumbing, etc. This allows you more free time to pursue other interests. Many renters are choosing rental homes specifically for the lifestyle it affords them: more free time and less stress.
4. No property taxes, maintenance costs or repair bills:
This means that when you rent a property, your landlord assumes full responsibility for all maintenance, improvement, and repairs. Moreover, Property taxes are expensive. However, when you rent an apartment, you have no obligations in terms of paying the property taxes.
Advantages of buying and owning a house in Turkey:
1. Stability:
Homeownership brings both tangible and intangible benefits. Owning your own home means that you have your dream home. Moreover, you have a stable place to call home. you can make decisions about the look and design of the space. Furthermore, you get a sense of stability and pride of ownership.
2. More freedom:
When you own a home, you can make any repair or change without getting permission. Moreover, if you do a good job and increase the value of the home, then you get to keep the profits on the property when you sell it.
3. Owning your home can make you money:
In a rising property market, you get the increase in property values. For many people, the most money they have made in their lives is from the rising value of their home
If you live elsewhere for a while, you can make money renting it out Therefore, when you buy an apartment, you are investing rather than spending.
Which is better, renting vs. buying a house Turkey:
After we talked about the advantages of buying and renting in Turkey, we will compare them to see which option is better.
Buying a property means having complete freedom. However, renting a property means that there are restrictions and limitations. In the event of buying a property in Turkey, the owner can act freely, unlike the tenant, he cannot make any change without taking permission from the owner.
Moreover, buying a property in Turkey means paying a fixed amount, which is the value of the property once. However, the rent increases over time.
If you are a tenant in Turkey, you may be evicted from the house at any time. However, if you are the owner of the property, you are far from these problems that cause chaos and may cause your loss for your work.
Furthermore, renting for years in Turkey is a waste of money while buying a house is saving for your money.
Additionally, the tenant cannot benefit from the sale price of the house at all, unlike the property owner, who can make an investment by selling the property and benefit from the difference between the purchase price of the property and the sale price.
In addition, a buyer can obtain a loan mortgage, while the tenant cannot obtain one.
When you buy a property in Turkey, you benefit from the advantages of owning a property in Turkey, such as investment, real estate residence, Turkish citizenship, and obtaining a Turkish passport as well.
Thus, we talked about the advantages of renting a house in Turkey and the advantages of buying and owning a house in Turkey. Thus, buying a house in Turkey is better.
Edited by: Ebla Group Real Estate
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