Which Option is More Profitable: Building or Buying a House in Turkey?
Many real estate buyers often find themselves in a dilemma when deciding between purchasing an existing home or constructing their dream home from the ground up. The question that arises is: Is it more financially advantageous to build or buy a house? Both options have their own set of advantages and disadvantages, and the ultimate decision will depend on your personal preferences, budget, and specific needs.
It is important to note that both building and buying a house in Turkey come with additional costs. Consider the properties available and your expectations for your new home. If you choose to build, take your time and enjoy the process of witnessing your dream home being brought to life. On the other hand, if buying seems like the more favorable option, gather information on how to secure the best mortgage rate. In Turkey, you have the flexibility to explore both options, as there are numerous possibilities available.
Why Should You Build Your Own House in Turkey?
There are numerous compelling reasons to consider building and designing your own home in Turkey. One key advantage is the ability to create a house that perfectly aligns with your vision. Building from scratch allows for customization, ensuring that the property meets your specific needs and preferences. Additionally, you are not limited to a particular location or neighborhood, giving you the freedom to choose the ideal setting for your dream home.
Another benefit of building a house is the avoidance of competitive bidding. By constructing your own property, you eliminate the need to engage in back-and-forth negotiations with other buyers, streamlining the process and reducing potential stress.
In Turkey, most builders offer a standard five-year building warranty, providing peace of mind that your home has been constructed to professional standards and has undergone thorough approval by the construction company. It is crucial to seek professional assistance when embarking on a home construction project. Experienced architects can accurately calculate the details of each property, ensuring precise planning and optimal functionality.
The cost of building a house in Turkey can vary depending on demand and specific requirements. It is important to consider the cost of land as a primary factor when calculating the overall expenses. The price per square meter of land in city centers is determined by the local municipality and is subject to change.
What Do You Need to Know to Build A House in Turkey?
The main steps involved in building a house in Turkey are as follows:
- Purchase of land and propertyChoose from various available terrains for sale, which grants you ownership rights and provides security as an investor.
- Design processWork with an architect or designer to create a floor plan, incorporate sustainable design principles, and select construction techniques, materials, and finishes.
III. Contract agreement and terms Sign a construction contract that outlines all aspects and conditions of the project, with the assistance of a lawyer.
- Construction permissionSubmit the signed contract to local authorities to obtain building permits, a process that typically takes 3-4 weeks.
- Construction phaseEnsure the construction includes key components for quality:
- Foundation insulation for water and heat protection.
- Assembly of supporting parts of the house.
- Roof installation with dual-layer.
- Interior design and final touches.
The main steps involved in building a house in Turkey include purchasing land, designing the house, signing a construction contract, obtaining building permits, and ensuring quality construction with key components.
You may be interested in: How to Get a Building Permits in Turkey?
How Does the Construction System Work?
When starting a construction project in Turkey, it is important to ensure that the land is suitable for building. The land must be included in the urban planning or zoning plan to obtain permission for construction.
The land should be registered as a “residence” in its architectural position, and a document containing all relevant information about the land should be obtained from the municipality.
If the land is located in unregulated areas, such as rural areas, there are certain conditions that must be met for construction:
- The construction should not cause aesthetic or health issues in the area.
- The construction should not exceed 5% of the total area of the regulated sector.
- The total construction area should not exceed 250 m2, with a maximum of two floors.
- The height of the construction should not exceed 6.5 meters above ground level.
- The minimum distance from legal boundaries and roads for industries is 5 meters.
- Construction is allowed in unregulated areas, such as family summer homes or tourist and recreational facilities, as long as they meet the above requirements.
What Are the Building Permits in Turkey?
To obtain building permits in Turkey, you will need to prepare the architectural plan of the building and submit the required documents to the relevant municipality. The documents needed for a building permit include:
- Application request for the license
- Title deed
- Architectural situation document from the municipality
- Status document showing sector boundaries
- Approved architectural plan from the Chamber of Architects
- Chamber of Architects registration certificate
- Approved concrete plan from the Chamber of Architects
- Chamber of Civil Engineers registration certificate
- Confirmed electrical extension scheme from the Chamber of Electrical Engineers
- Chamber of Electrical Engineers registration certificate
- Approved installation plan from the Chamber of Mechanical Engineers
- Chamber of Mechanical Engineers registration certificate
- Soil investigation report
- Appointment of a responsible person for plan execution
- Documents related to the Construction Institute and the authorized contractor
- Documents of the building inspection company and the building inspection contract
- Building information module
- Bank receipt showing deposit of 20% of the Construction Audit Company’s rent
- Building inspection contract
How Much Does It Cost to Build A House in Turkey?
Calculating construction costs is a key aspect of the construction industry in Turkey. These costs encompass the price of construction materials, necessary construction requirements, and the construction or contracting fee per square meter. The total cost may vary depending on the construction system used.
The estimated construction cost for a 200 m2 villa is approximately 120,000 USD. Please note that this is a rough estimate and actual costs may vary depending on factors such as location, design, quality of materials, and labor costs. It is advisable to consult with professionals in the construction industry for a more accurate and detailed cost assessment for your specific project.
Key Points: Calculating Construction Costs in Turkey
- Construction costs in Turkey include materials, requirements, and fees.
- Accurate cost calculation is essential for budgeting and project planning.
- Factors such as location, design, materials, and labor costs impact the total cost.
- Consulting professionals helps in obtaining accurate and detailed cost assessments.
How Long Does It Take to Build A House in Turkey?
On average, the construction of a multi-story luxury complex with extensive infrastructure takes 1.5 to 2 years. Building an ordinary Turkish apartment building typically takes 9-12 months, while a villa can be constructed in approximately 10 months.
What Are the Advantages of Investing in Real Estate in Turkey?
The demand for real estate in Turkey has surged in recent years, making it a sought-after holiday destination and investment opportunity.
Compared to neighboring European countries, real estate prices in Turkey are lower, while offering a similar number of attractions. Additionally, Turkey boasts less crowded cities and ample space for construction, making it an attractive choice for international real estate buyers.
Frequently Asked Questions about Building a House in Turkey
What are the advantages of building a house in Turkey?
Building a house in Turkey offers the advantages of customization, location choice, and avoiding competitive bidding. Additionally, it is worth noting that building a house can be around 50% cheaper compared to purchasing a ready-made villa.
What documents are required to obtain a building permit in Turkey?
To obtain a building permit in Turkey, you will need the following documents:
- Application request
- Title deed
- Architectural plan
- Status document
- Registration certificates from relevant professional chambers.
How long does it take to construct a house in Turkey?
The construction time for a multi-story luxury complex with extensive infrastructure is typically 1.5 to 2 years, while an ordinary apartment building takes around 9-12 months, and a villa can be built in approximately 10 months.
Why is Turkey an attractive destination for real estate buyers?
Turkey offers lower real estate prices compared to neighboring European countries, along with a wide range of attractions, less crowded cities, and ample space for construction.
What factors determine the cost of building a house in Turkey?
The cost of building a house in Turkey depends on factors such as location, design, quality of materials, and labor costs. It is advisable to consult professionals in the construction industry for an accurate cost estimate for your specific project.
Building a house in Turkey offers the advantages of customization, location choice, and avoiding competitive bidding. It is also worth noting that building a house can be around 50% cheaper compared to purchasing a ready-made villa. To obtain a building permit in Turkey, you will need documents such as the application request, title deed, architectural plan, status document, and registration certificates from relevant professional chambers.
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