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Apartments for Sale in Istanbul Asian Side
Find the suitable condominium
First, the purpose of the condominium should be considered. Should your own family live in it? Or does the apartment serve for old-age provision? This results in differences in the choice of suitable condominium.
The condominium as a yield object
There are currently numerous arguments in favor of acquiring a condominium for returns. Such as low interest rates and rising rents in major cities and popular university locations. In addition, real estate is considered inflation-proof capital investments. The monthly rental payments are a constant source of income. According to expert estimates, a return of four to six percent after tax can be achieved, provided the condo is upscale equipped and well located.
Accordingly, the search should start with these two factors. The size of the apartment also plays a role: the larger the apartment, the less likely the tenant change. The condition of the tenement should also be investigated. As a rule, the owner community decides on structural alterations and renovation work – there may be high additional costs.
Private investors should, however, think well about the move. On the one hand, real estate in prime locations is unaffordable for most individuals, and on the other hand, it is not possible to make reliable forecasts of expected returns. In the case of real estate away from the persistent boom, for example, the demand for rents may slacken off sharply – and the condominium may be vacant for a longer period of time.
Another aspect is the often underestimated effort for the landlord. He is responsible for the maintenance and management of the condominium and, in the worst case, has to deal with defaulting tenants. A professional property management helps, but reduces the return.
All in all, the step to becoming a private investor is recommended above all:
* If there is equity of around 20 percent of the purchase price. This reduces the cost of repaying the loan, as well as reducing dependency on rental income.
* If the condominium is only rented out to your own retirement and then used by yourself.
* If long-term planning is possible and the condominium can be inherited.
The condo for self using:
If the condominium is for personal use, other factors play a role:
The layout of the condominium often says more than the sheer size. Ideally, the condominium has a square or rectangular floor plan. This allows the rooms to be divided fairly among the residents.
The personal lifestyle should also be included in the assessment of the floor plan: some prefer a large living room, others place more value on a light-flooded eat-in kitchen.
Basically, the living and recreation rooms should be located on the south side of the apartment, the function rooms may be oriented to the north.
For large families and shared apartments there is a large bathroom with two sinks – two separate bathrooms with their own toilet are ideal.
Caution is advised in transit and windowless rooms. Here you should first consider how the room can be used.
The required size of the apartment is determined by the number of people living in it. The starting point is the demand area, which is around 45 square meters per resident. The size of the apartment naturally affects the purchase price.
But beware: the calculation basis of the living space is not uniformly regulated and should be disclosed by the seller before the purchase.
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