What is Residence?

| Created : 2024-07-09
| Updated : 2024-07-09
Created : 2024-07-09
Updated : 2024-07-09

The Residence is an apartment complex and living space equipped with aesthetic architecture which serves the highest quality hotel comfort at your own house. It is filled with various social facilities and superior technologies to provide you with a cozy area to live in. With its high security and rich social opportunities, people are lately keen on purchasing Residences.

These houses can be in the form of low-rise buildings, multi-story buildings, or even skyscrapers. We can say that they have their own self-sufficient technological infrastructure structures which provide you quality and greater living area. Another feature of the residence is that they provide 24/7 reception service to their landlord which gives a five-star hotel comfort. In other words, Residence buildings are the buildings we know, offering us the comfort of a hotel. There are luxury residences for sale with many different options in Turkey.

What are the Features of the Residence?

There are many different types of real estate in the real estate industry. Many people wonder what real estate is. One of the property types is Residence type houses. These are which have become popular and much loved recently in Turkey and attract those who want to be homeowners with the many opportunities they offer. The features offered by residences to their homeowners are listed below.

  • Service in Hotel Comfort
  • 24 Hour Controlled Entry-Exit And Security Systems
  • Sound Insulation Feature (Available İn Almost All Residences)
  • No Parking Problem
  • Generally Being Built in City Centers İn Terms Of Location
  • VIP Car Service
  • Dry Cleaning
  • Ironing Room
  • Event Hall
  • Central Air Conditioning Service
  • Gym
  • Cinema
  • Swimming Pool
  • Spa
  • Cafe

What are the Advantages of Living in Residence?

The residence is a living complex that offers much more than a home. If you are thinking about the advantages of residences, we have listed various advantages for you below.

  • Extra Safety Precautions: If you live in a residential flat, the staff at the entrance of the site will ensure your security 24/7. In addition, thanks to the reception service in the residences, controlled entrances, and exits to the apartments are provided. Thus, your guests who come to your home are not welcome in this area and are directed to the upper floors without your approval.
  • Comfort Oriented Services: Thanks to the high comfort services, which are one of the features of the residential apartments, you will lead a more enjoyable life. For example, while making your life easier thanks to dry cleaning and cleaning services, a quick solution can be found when you report a technical problem that may occur in your home to reception.
  • Central Location: Managers and business people find it more enjoyable to live in these residence apartments because they offer high comfort and an expensive quality of life in the city.
  • Social Facilities: When you come home from work, you will be able to spend time as you wish without leaving your living space in the residences you own, with the gym, cinema room, and private spa areas.

What are the Disadvantages of Living in a Residence?

The negative aspects of living in such apartments are listed below.

  • High Rents: Since such smart homes are rented for higher amounts, people with a higher income should prefer it. In addition to the rent, you are expected to pay high dues. Also, there are always additional costs.
  • There are no neighborly relations: In such places, since people go to their homes to relax more, not many neighborly or friendship relations are established.
  • You need to get permission from the administration for everything: To make certain changes in your home, you are expected to get approval from all the residents, which can make your work more difficult.

What are the Advantages of Investing in Residence?

Many people consider their investments like real estate. This means that they are investing in rental property, but there can be unique benefits of owning properties other than savings. The right property and the right planning investments will make you see that being a residence owner can be financially beneficial in the future.

  • You Can Create A Good Future.
  • You Can Provide Passive Income
  • May Provide Cash Flow For Retirement
  • Indulge Your Entrepreneurial Spirit
  • Real Estate Investment Is A Protection Against Inflation
  • Alternative Saving Methods For University Education
  • Obtaining Turkish Citizenship

What are the Drawbacks of Residence?

If you're unfamiliar with the debts and bills you have to pay to own a home, you may be surprised at the hidden costs you'll encounter as you go to the closing desk to complete the deal. Here are a few reasons to consider twice before owning a Residence:

  • Home maintenance and repair costs can quickly impact savings.
  • Moving into a home can be costly.
  • A longer commitment to the lease will be required.
  • Mortgage payments can be higher than lease payments.
  • Property taxes will cost you much more than the cost of your mortgage.
  • It can be difficult to put together the money needed upfront to buy the house.

How is Residence Investment Made?

Investing in real estate is a financial strategy that uses the management, ownership, purchase, rental, and/or sale of property for profit. There are multiple ways to invest in real estate. However, all options rely on similar economic factors to generate profits. The first is that the value of the property must increase. Second, the cost of owning and maintaining the property should not be greater than the increase in the property's value.

Investment objectives can be analyzed in two ways. A quick return investment means buying a property to sell it quickly (often called a "flip"). Long-term property investment means buying property to rent or lease over a long period, earning both the rent and the value of the property increases over time.

How to buy Residence in Turkey?

Turkey is a country that has an important place on the global stage, hosting a large number of foreigners. Turkey, a country that is a blend of eastern and western cultures, is the main cradle of trade and civilization as a center for both cultures and regions.

Foreigners can buy land and property in their name in Turkey. However, the land they bought must be placed out of villages or rural areas and outside of military zones. Finding a house can be challenging for foreigners who want to own a house in Turkey. If you wish, you can search the internet for a residence for sale and decide on the type of house you want to buy and the region where it is located. However, since there will be a risk of fraud in transactions you will make on the internet, you can agree with a reliable real estate office in the region where you want to buy a house, both by the legal rules and knowing your rights.

Real estate agents specializing in their area can search for properties for sale as well as rental properties for you. In this way, you can get an overview of both the income you will earn and the payments you will make. First of all, you don't need a lot of money to own a house in Turkey. Turkey offers many affordable housing solutions to foreigners. However, there are a few factors to keep in mind before taking any action. For example, there are visas and residence conditions

We need to remind you that buying a property does not give you permission to work or reside in Turkey. If you want to apply to obtain Turkish citizenship, you have to spend 400 thousand dollars on your residence. However, if you do not have a residence permit in Turkey before, you must have your Foreigner Identity Number from the EGM Foreigners Department to continue buying real estate.

To prepare the paper works and transactions related to the residency you need to visit Turkey and complete the work must have done before purchasing.

The price of the property and terms of purchase should be negotiated before reserving the property and locking its price.

There is also some paperwork and bureaucracy. Turkish law states that property transfers can be made at the Land Registry Offices. You may need to sign two types of deed, one of them is a title deed or another Homeowner deed.

With more than +11 years of reputation in Realty Group, we are with you in all the steps you need to complete during the property-purchase process. If you want to buy property in Turkey

Ready to invest? What is your budget ?
Up to $100K
Up to $200K
Up to $400K
Up to $800K
Up to $1M

How to Manage Residence in Turkey?

Management is a topic that should not be disregarded in high-tech and high-quality dwellings. Building management must be considered in residence life so that people can live in peace and security.

Thanks to the residence management, many services will be available to the people living in the residence. First of all, you will no longer have to worry about maintenance and cleaning. The residence management will do the necessary maintenance on your behalf and will do the cleaning of the residence every day. You will continue to live in a hygienic and well-kept environment. In terms of social and cultural aspects, you will find various activities in your living spaces thanks to the residence management. At the same time, your needs will be met by the residence management employees who serve as apartment attendants. Your needs will come to your door instantly.

The security of the buildings will also be ensured and you will not be faced with negative situations such as terrorism, theft, and fraud. No stranger will come to your door. Residences will be monitored by cameras and immediate intervention will be made in case of extraordinary events occurring inside and outside. The recording of cameras that are recording 24/7 will also be kept in a safe environment.

What is the Difference between an Apartment and a Residence?

The differences between the apartment and the residence are listed below.

  • Residence-type houses offer a safe living space with comfort and social facilities in residences.
  • Security in Residences is at the highest level in residences.
  • No water or electricity cuts in residences
  • There is no parking problem in residences
  • Services such as gym and restaurant are provided until night hours in residences
  • Since it has sound insulation, there is no noise problem in residences.
  • 7/24 technical service is available. In case of malfunction in any electronics and elevators, emergency intervention is made in residences.
  • Residences have very high dues in comparison with apartments.
  • Residences are not preferred by families with children.
  • Environmentally, sociability in residences is less than in apartments.