People worldwide look for properties they dream of living in and suitable for their lifestyle. Sometimes some investors consider those properties for income generating. However, you should consider several crucial criteria if you want to buy and invest in one of the Income-Generating Properties in Istanbul.
Specific methodologies and measures to check can make buying easier if you are looking for a home to put on the market as a rental. Making a final decision in such cases is much easier if you create a methodological shortlist and select following the pre-determined criteria. Moreover, the right approach and consulting will maximize your returns on your investment.
Location, Location & Location:
Real estate is all about location. The location of your prospective property is essential whether you plan to live in or rent out. Unfortunately, quality of life and yields are only sometimes correlated, especially in Istanbul. You may wonder why because Istanbul is a cosmopolitan city with millions working and traveling. You can find better social facilities, higher living standards, and easier access to everywhere; however, centrally located areas with no social facilities can offer higher returns.
If your investment purpose is solely to obtain rental returns for your house, the most critical condition for a home and its district is. Properties in a reputable district will offer higher returns, even if you consider it in the short term or long term. Income-Generating Properties in Istanbul are always located in a reputable district, even if you consider it in the short term or long term. The neighborhood is the most important thing to consider for many people, especially for a certain level of decency and high living standards.
Deed & Registration Control
Check the title deed record of the project and the apartment with your real estate agent to confirm which neighborhood it is registered in. We check all the registration records listed on our website in advance. In any case, this information is crucial for your decision and should be provided by your agent.
Maintenance Fee
You may think, “ I will not live in the house, and the maintenance fee is not my concern.” However, it is not always the case that if you decide to use your property for short-term rental, you will be responsible for the maintenance fee; the long-term rental maintenance fee is the tenant’s responsibility.
Even if you prefer short-term or long-term rental, you may lose potential income if the maintenance fee of the property is not affordable. Of course, some compounds offer exclusive services such as a swimming pool, sauna, gym, security etc. all these services should be considered when evaluating maintenance fees. It is always favorable to buy your income-generating house in a building or complex where the payments fit the project’s scale so that your net income will be affected less by these expenses.
Invest in Projects in the Pre-Launch Phase
Istanbul real estate market is dynamic, and values and prices change frequently. You can make incredible returns from buying real estate at the right time. It is always helpful to consider the property’s future value since most investors are selling their investment for no less than 5-10 years at least.
You can ask your real estate agent for average prices of the previous years or similar properties’ sqm prices and sqm prices of the neighborhood. You shouldn’t rush your investment, and it is wise to ensure that this investment will have good returns in your target time frame.
Investing in projects in the pre-launch phase may sound scary. You cannot be sure about the developer, project, and if all the work will turn out as promised. However, the risks may be more negligible than it seems. The reason is that authorities strictly control new developments, and developers must deliver the properties within three years according to rules and regulations.
In addition, just like the investors, developers also want to complete the project as soon as possible so they can start working on new projects. If you need to find out whether the project developer is reputable, ask your real estate agent about their company profile and how many projects they have completed previously. Moreover, you can consider visiting their previous projects to understand the company and work of quality. Finally, if you are still concerned about the developers, you can consider investing in one of the government-guaranteed projects from Emlak Konut, Toki or Kiptaş.
If you want to invest Income-Generating Properties in Istanbul, it is crucial to have a qualified consulting service. NLI – New Life Istanbul is your guide through the property maze in Istanbul.
We are working beside you, so our investors can find their dream properties without paying extra costs or commissions.