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Additional costs when buying a home in Turkey

Additional costs when buying a home in Turkey

In case of purchase of expensive luxury housing we must remember that maintenance will cost a bit more expensive than budget respectively. Also you will have to give a certain amount of paperwork in the framework of the transaction of purchase and sale. This article will help you to understand the allocation of funds for additional expenses.

– TAPU:

  1. To pay for registration of the contract confirming the right of ownership you must apply to the state bank which will announce the real cost of housing. Remember that in the TAPU stated often undervalued price of the property. The fee will be 0.4% of the total.
  2. Also don’t forget about the reward for services provided professionals involved in your transaction. You won’t spend more 400-700 Turkish Lira paying job as an interpreter, notary, etc.

– Utilities and property maintenance:

  1. In Turkish houses the consumption of electricity and water is controlled by the counters. The price for one cubic meter of water is 4 TL and one kilowatt – 0, 4 TL. Indicators can change depending on the time of day and characteristics of the counter.

In the case of purchase of new housing you will need to register on the meter. Cost this service is 300-400 TL. When it comes to “second home” the renewal of the subscription account to the new owner will cost about 100 TL.

  1. Don’t forget about annual property taxes. He is from 0.3-0.4% of cadastral value specified in the TAPU. Payment can be divided into 2 equal parts: one to pay until the end of May and the other before the end of November.
  2. Payment for garbage disposal. The regular size of the contribution varies depending on the location and type of apartment, but no more than 50-60 TL.
  3. Each owner pays a monthly tax for the service of the apartment complex. In Turkey it is called “AIDAT”. It is difficult to indicate single “AIDAT”; it all depends on the location of the apartment complex and its infrastructure development. Approximately: from 40-250 Turkish liras.
  4. Don’t forget the mandatory insurance of your property from earthquakes (DASK). It is necessary for the registration of a residence permit. The annual contribution depends on the area of housing. Approximately: from 70-300 TL.
  5. If you have the desire just to insure your property, be willing to commit to this service from 200 to 2,000 Turkish liras per year.