Housing Cost
The cost of the house can be expressed as the amount requested by the buyer. This price is known as the biggest cost you will make when buying a house. This cost item is known as the most important expense amount. When purchasing a house, it is extremely important to make researches according to your budget. At this point, you should choose suitable houses for your budget instead of houses that have costs that exceed your budget. It is up to you to reduce or increase the cost of housing.
Real Estate Consultant Service Fee
Another cost that may arise during the home buying process is the service fee of a real estate agent. According to the regulation on real estate trade, real estate consultants can request a service fee of 2% + VAT (18%) separately from both the landlord and the buyer of the house. If you get a real estate consultancy service, you have to pay this price. However, you may not be able to get real estate advice.
Getting a real estate consultancy provides you many benefits in finding a house. Many more home options are available to you. With real estate consultancy, you can find the house you want to invest in or live in very easily.
TCIP (TURKISH NATURAL CATASTROPHE INSURANCE POOL) / DASK
TCIP (DASK), the compulsory earthquake insurance policy, is also required during the title deed transfer process when purchasing a house. This insurance is renewed every year and the buyer has to carry this insurance in his name when buying a house. It is not possible to make electricity and water connections without TCIP. At this point, TCIP payment is among the fixed expenses every year.
Title Deed Fee
As of 2021, 4% of the sales price is paid as the residence title deed fee. This price is divided between the buyer and seller as 2% to 2%. In addition, the revolving capital value of the deed is 385 TL by 2021. The title deed fee may vary over the years.
Circulating Capital
Individuals also have to pay the return capital value of the title deed when purchasing a house.
Property Tax
Each landlord is obliged to pay the property tax calculated on the value of the house. Property tax must be paid annually after the year the house was purchased. Otherwise, you may have to pay interest for each unpaid year.
