Advantages and disadvantages of buying a property under construction in Bursa, Turkey
Many people find buying a property under construction in Turkey an ideal option from various aspects. However, buying a property under construction in Bursa, Turkey has many advantages and disadvantages as we will see in this article from Ebla Real Estate.
Advantages of buying a property under construction in Bursa, Turkey:
- The prices of real estate under construction in Bursa, Turkey are low compared to the prices of ready-to-move real estate. Thus, buyers can buy a property with the exact location and specifications at a lower price if it is under construction.
- Moreover, The buyer of a property under construction has the option to specify the specifications of the apartment and choose the type and quality of the finishes.
- Furthermore, buyers have the opportunity to buy a property in Turkey by installments. Thus, it is a good option for those who do not have enough money to buy a ready-to-move-in property.
- Additionally, buyers get a discount when they buy a property under construction in Bursa by cash.
- The value of the investment property increases when it is ready for delivery.
- Real estate under construction achieve high profits between 50% to 300% upon completion of construction work and receiving house keys.
- After the completion of the construction work, buyers can invest directly by selling it or leasing it.
Disadvantages of buying a property under construction in Bursa, Turkey:
- Delay possession is one of the most common issues related to under construction projects. In most cases, the project got delayed due to various reasons and in this situation, the buyers face the consequences.
- There may be some negative surprises in building and finishing after work, other than what was previously agreed upon with the real estate construction company.
- Moreover, buyers of real estate under construction will not be able to get the title deed until they complete the installments in case they buy the property by installments.
- The investor’s concern about stopping the construction work under any circumstances.
Tips from Ebla Real Estate about buying a property under construction in Bursa, Turkey:
- Make sure to buy from reputable and trusted real estate companies or choose the property in government guaranteed projects.
- Moreover, it is better to consult your real estate agent and other professionals before entering into the contract.
- The buyer must request all the details of the property, in terms of location, proximity to public transportation, schools or universities, hospitals, and markets, and visit the property site himself to make sure that the location is suitable.
- Make sure that the purchase contract contains a detailed description of the property.
- Furthermore, the investor, or who buys an apartment on the building plan, must not pay the property’s installments at once before finishing the construction process. Thus, it is recommended to pay for it in installments with the development stages of construction work.
- In addition, buyers should not hesitate to object when they deliver the property if they find a shortage or breach of the conditions agreed between them and the construction company.
Thus, in this article from Ebla Real Estate, we talked about the advantages and disadvantages of property under construction in Bursa, Turkey and we provide you with some tips to consider.
Edited by: Ebla Group Real Estate
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