The Nest

NestApple's Real Estate Blog

Featuring real estate articles and information to help real estate buyers and sellers. The Nest features writings from Georges Benoliel and other real estate professionals. Georges is the Co-Founder of NestApple and has been working as an active real estate investor for over a decade.

The Pros and Cons of Buying Property on a Mortgage in Turkey

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Many people interested in luxury property in Turkey for sale opt for the mortgage option. That is due to ease of payment and countless other reasons. People marvel at the big deal and possibleMortgage In Turkey deal breakers they cannot handle regarding purchasing property on a mortgage in Turkey. This article aims to shed light on all the crucial areas based on information gathered according to Turk.Estate and the official website.

Let’s discover why buying property in Turkey has increased in the last ten years. Buying property in Turkey has never been more accessible, easy, and affordable for foreigners than it has been for the last decade.I have researched the real estate market in Turkey, specifically in Antalya province. You need to know this if you are interested in owning a property in Turkey.

Factors People Enjoy Under Mortgage Arrangements in Turkey

Here are some of the factors which mortgage holders enjoy over others:

Rest of Mind and Stability

Most mortgage holders comment on the rest of mind and stability, which is hardly enjoyed over rentals. This is a dicey issue because you still have to pay monthly for the mortgage, right? However, the difference is that rather than dealing with landlord issues and saving up for rent every month.

In a mortgage arrangement, you have the rest of mind that, in time, the property will become yours. And ownership will completely reside in you and your family. That gives a measure of stability and rest of mind to mortgage holders.

Long Term Equity

On this note, the more you pay off your mortgage sum, the higher your property’s equity. You can measure the current-day value of the property minus how much is left to be paid to get how much equity accrues to you and your family upon completing the payment.

Regarding mortgages, because property value naturally appreciates with time, the more you pay off the mortgage, the higher your equity. This can be sold or converted however you wish after the term. As such, there is long-term equity over mortgages, and that is a perk many consider helpful as they pay in bits.

Control and Financial Coordination

Thirdly, the most famous factor and advantage of mortgage arrangements is the convenience of cost and management regarding finances. The world is already brutal as it is, and the truth is that many people will not be able to afford a house on the go. Especially when compared to the cost of rising apartments worldwide.

While navigating feeding and upkeep, educational fees, and other utility bills, only a handful of the world can afford hundreds of thousands of dollars to buy a house at once.

With a mortgage arrangement, you can plan your expenses and break down housing payments into more minor accessible payment modes, which can be maintained for a few years before the title finally passes.

Convert Mortgage in Relocation

There is another perk to mortgage arrangements. People who take mortgages can opt for a detour before the mortgage matures. This feature makes it easy and desirable for all. Don’t get stuck with a house that no longer serves your need.

A mortgage arrangement can be converted for other uses, sold, resold, or converted into another apartment.

It is suitable when tastes change or families grow and need larger spaces. To this end, it is clear that mortgages do better regarding convenience and comfort. On the contrary, if you pay at a go, you must put the property back into the market in a sale package, which may take longer to sell.

It suffices to say that mortgages are famous for being convenient, accessible, and comfortable with no pressure attached. More so, these days, mortgages are available for large, small, and all kinds of apartments, ensuring variety is not an issue.

Factors That Deter People from Using Mortgage Purchases in Turkeycap rate calculator

Here are some of the most common reasons, people often opt for other payment choices, such as cash.

Maintenance Begins Immediately

Some people complain that although they do not yet own the property thoroughly, the maintenance rate begins immediately and is often chargeable over the entire property.

On the one hand, these maintenance fees are arguably justifiable (based on consumption and use). What’s more annoying is that you will immediately begin to play the role of landlord.

Such roles come with Home Owners Association Fees, Area Clubs, community levies, etc.

These are payments that are entirely avoidable under rental arrangements. Meanwhile, when you eventually discard the property for another in the long run, you appear to have borne those responsibilities for nothing.

Default Hypertension and Worries

Not hypertension, but paying a mortgage remains a significant financial worry. Especially when there are unexpected turns; life often has many of that. Jobs may change, and finances may fluctuate. But your obligations over a mortgage will keep staring at your face regardless of those changes.

People find this factor very disturbing. In such a situation, however, we advise calling the mortgage company to see if any adjustments can occur. This may cause an extension in the mortgage term and affect the rates and fees too.

Higher Rates and Fees

Finally, mortgages will cost you much more than an outright purchase. There are many rates and fees attached to mortgages that the companies use in financing the respective loans. So, although it will buy you time, mortgages will cost you more.


Where you can afford it, you can use the cash option because it is immediate and saves you rates and charges. However, please do not shy away from mortgage options where it will put you under pressure and hurt the financial well-being of your family. Such forces are avoidable because mortgages will make it all easier.

It depends on your financial plans and ability, as both options have viable benefits and downsides. So choose what works best for you.

Written By: Georges Benoliel

Georges has been working in Wall Street for the last 16 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade. Georges graduated from HEC Business School in Paris and holds a master in Finance from ESADE Barcelona.

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