A practical step-by-step roadmap for first-time home buyers: budget, location selection, financing, title deed.
1. Budget and Financing
In addition to your savings, look into home loans, government support schemes and bank campaigns. General rule: do not allocate more than 35% of your monthly income to loan instalments.
2. Choosing a Location
Distance to your workplace, your children's school and healthcare services is the top priority. Future infrastructure investments (metro, motorway) increase the value of an area.
3. Inspecting the Property
The building permit, occupancy permit (iskan), compliance with earthquake regulations and complex management fees should all be checked. For older buildings, urban transformation potential should be researched.
4. Title Deed and Transfer
Always confirm any mortgages, liens or annotations on the title deed (tapu) with the land registry office. Get professional legal advice before signing the sales contract.
5. Taxes and Costs
The title deed fee is 4% of the sale price in total; unless agreed otherwise, 2% of this falls to the buyer. Together with DASK, property tax, VAT where applicable, the appraisal fee and loan costs, additional costs can reach 6–8% of the total price. Don't forget to include these costs in your budget.
