The world has entered a difficult period with the Kovid pandemic. Our country has been affected much more heavily by this pandemic. It seems that more difficult days are waiting for the economic situation of our country due to different economic approaches. Although the crisis periods are not good for the sector in general for real estate investment, they are also seen as an opportunity to buy a house for many people.
However, shelter is a need that cannot be postponed. It is not possible to provide your other vital needs without shelter. Whether we are in the middle of an economic crisis or in a much more comfortable period, if you are a permanent tenant, buying a house is always among your first plans.
In addition, crisis periods can be seen as advantageous periods for real estate investors. In times of crisis, unfortunately, more houses are put up for sale with advertisements for sale.
Whether you intend to buy a house to get rid of rent or to make a new real estate investment, you need to be more vigilant and careful when buying a house during these periods. In times like these, there are some key points to buying a good home in every sense.
If you have the intention to buy a house first, you may need to turn that idea into an almost full-time job during times of crisis.
If you intend to buy a house, paying cash will give you a great bargaining chance for such periods. However, if you are going to use a housing loan to buy a house, it is essential to follow the interest rates that will have large fluctuations. The interest rate policy of the state has made bank loans very volatile. For this reason, it would be wiser to turn to state banks rather than private banks for home loans. You have the opportunity to find housing loans with more favorable interest and payment terms from state banks, both in times of crisis and when the economy is more stable.
After reviewing your finances and making your final decision, the internet will of course be where you can find your next home.
You can start the purchasing process by following real estate ads on real estate listing sites such as Emlak Sitem. First of all, select the real estate listings that suit you and add them to your bookmarks. Thus, you can avoid wasting time to search and compare these ads from the screen later on.
You will see that different real estate agents can post ads for the same house. So, classically use pen and paper to note down the features of the house you want to buy. Thus, if you encounter different prices for the same house, you can eliminate them.
Make a quick listing before browsing through real estate listings. Then examine the properties you have determined in more detail. Being fast when possible and not wasting time is more important in times of crisis. So don’t linger on the first search on a home you love. Skip to other postings. Examine the advertisement in more detail during the second check.
What Should You Consider While Scanning Real Estate Ads?
1) Property Announcement Date
First of all, when looking at real estate ads on real estate listing sites, you should pay attention to when the ad was added or whether it was updated on a new date. Although Emlak Sitem automatically removes these very old ads, the ads may not be up to date on other listing sites and real estate agents’ own sites. You may be spending your precious time on a property that has already been sold.
2) Property Location
Many real estate listings only show the inside of the residence. But location is always the primary condition for a good real estate. Try to research the location of the real estate you are interested in buying from the advertisement details in more detail. It is quite annoying to discover, through physical contact, that a house whose interior you like very much is actually in a neighborhood or street where you will never be able to settle in.
3) Examine Property Description and Photos Carefully
A photo can give better information than a hundred words. Or it can hide the information it needs to give. When looking at a real estate ad for a brand new flat, photos provide clearer information. However, many points can be overlooked if the shooting was taken in furnished apartments with tenants. Examining the photos closely gives you a lot of information. While examining the photos of the new apartments, check the faults on the floor, whether the house receives light, whether there are traces of moisture on the walls, and in more detail whether photoshop has been done on the photos. Look for similar items in two different photos of a similar place. If an item is missing or faulty in a photo, it may have been photoshopped. In addition, you should keep in mind that there is a situation that is generally desired to be hidden in advertisements with a small number of photos.
4) Be Suspicious of Advertisements with Prices Below Market Conditions
You liked a house, the location is nice and the price is very affordable. In such a case, if you see very different prices for a house of approximately the same square meter in the same district and neighborhood, call the landlord or real estate agent by phone and ask the following questions before you see the house physically. If you have reasonable answers to these questions, you can physically go and see the house. Thus, you will not lose the time you will allocate for the house you will buy.
a) Is there a record of heavy or medium damage to the building? Especially after the Izmir earthquake, many buildings with little or moderate damage had to be facelifted and put up for sale. It is important whether this information is given when buying a house from these types of buildings. Some people who want to buy a house will be more willing to buy this type of housing as they will enter into urban transformation. But trying to sell a house without giving this information has also been one of the sales methods. For this reason, be sure to ask and check the damage record of the buildings.
b) Is the building age correct? This is a great contradiction that comes with the zoning amnesty. A two-storey building may have been built with 7 floors and entered into zoning amnesty. In other words, the ground and first floor of the building may be 20 years old, and the upper floors may have been newly built. However, the houses that are advertised by benefiting from this type of zoning amnesty are usually given with the age of the last apartments built. However, in the event of an earthquake, there will be a risk due to the ground floors that do not comply with the earthquake regulations. Houses that have become legal with this type of zoning amnesty are offered for sale at a more affordable price. For this reason, you should ask the landlord or agent very detailed questions about the age of the building.
c) Is it eligible for credit? If you are buying a house with a housing loan, it is more difficult to give loans to apartments that have been licensed with many bank zoning amnesties. Even if the flat you want to buy is not licensed with zoning amnesty, banks are reluctant to issue loans even if the building is an apartment licensed with zoning amnesty. For this reason, when you want to get information for the announcement, inquire in detail whether the building is licensed with the zoning amnesty.
d) Ask if all the building’s facilities are actually being used. For example, the phrase “there is a parking lot in general” is just a word in many city buildings. Likewise, in some buildings that are said to have an elevator, the elevator is not operated or may not have received permission.
e) Ask all the questions that come to your mind in the photos. For example, how many windows get light? What floor is the house on? What is responsible for the blistering of the parquets on the floor?
f) Make sure to inquire about the condominium. If it is a house that does not have a residence permit, ask the reasons for this situation and generally stay away from buying this type of housing. It can be a big risk to buy a house from projects that are not completed in economic conditions. However, the project will be a good opportunity to purchase housing in safe and bank-contracted constructions for credit. Therefore, consider these situations in detail.
5) Be Fast To Buy The House You Like
You scanned all the postings and removed more than one option. Sort these options by proximity. And choose a suitable route to visit these Properties for at least one full day. Make the necessary appointments and try to visit them all in the same day. If one of them is the house you want to buy new, the price tag may have increased the next day. For this reason, being fast will earn you a cheaper house and less commission payments.
