There are several things which a foreigner has to bear in mind before buying Jerusalem real estate. This guide can help safeguard from paying excessively for a home in Israel. Some of these main points are discussed briefly below.
Heading off to Israel before your search – You should study the real estate market in the country thoroughly beforehand. Come and visit the cities you are considering and spend time in a few neighborhoods. After you get a feel for local scene you can start the actual search process. This will prepare you for actually viewing the properties and making offers.
Break down the asking price – An important tool in evaluating the relative value of a property is to break down the asking price into the exact amount per square meter. If you visit properties located in multiple neighborhoods, you’ll find that the going rate for each square meter can vary widely.
Avoid problematic sellers – Home owners in Israel think that there are two distinct prices – one for foreigners one for locals. It is recommended to use an agent to avoid price gouging and discover hidden problems with the property’s status, infrastructure or neighborhood.
Consider suitable properties – Prior to your trip, it is recommended to contact an agent who can show you some suitable properties while taking into account personal and financial considerations. If you are serious about a particular property get the services of a professional property engineer who can also issue a report regarding the physical condition of the property.
We hope that considering these points, we will enable a more cost effective process when purchasing your home in Jerusalem.