When Should I Buy?
The right time to buy is when you are ready!
Before making Aliyah or buying real estate in Israel, it is important to understand the Israeli real estate market. Indeed, property prices in Israel do not reflect American or European market prices, so you may be shocked when comparing the budget required to purchase property in Israel.
One thing is certain, the prices of the Israeli real estate market are constantly rising, no matter where you live. So, if your budget allows it and you have well defined your project and your expectations, don't wait! The real estate prices found one, two or five years ago are much lower than those of today and can be expected to continue to rise in the years to come.
Don't wait any longer! Explore all the real estate listings available in Israel under the "property search" tab, here at Immo Israel.
Where Should I Buy?
It all depends on your intentions!
Once again, it all depends on your project and what you want to do with your property. If you want to invest and rent out your property in order to receive a monthly rent, your preferred location will necessarily be different than if you want to buy an apartment or a house in which you are going to live. A good investment for a rental could, for example, be close to a university, while your living space must correspond to your family and professional situation.
A common mistake in buying a property in Israel is to fall in love with a place where you like to spend your vacations... but which is impractical for everyday life! You love coming to Tel Aviv during the vacations and walking along the Tayelet, eating ice cream and sunbathing by the sea... This does not necessarily mean that living in this place in Israel will be practical for you on a daily basis, between the incessant traffic jams, the real estate prices in the Center of Israel (Gush Dan) and the very high cost of living in general.
Immo Israel's advice?
Our little country is more than just the big cities you know and always hear about! Don't be too quick to decide where in Israel you are going to live; explore different horizons that might hold some nice surprises.
What Type of Property Should I Buy?
In order to decide what property to buy, you need to decide what's more important to you - the type of property or the location.
If you absolutely want to live in a private house, look for properties in the suburbs rather than in the center of a large city. If, on the other hand, you prefer to be close to specific places such as your work, schools, and shops, and require services such as public transportation, an apartment in the city will be much more practical and easier to find.
Many additional criteria besides location factor in, no matter which country you are looking to buy in. Typically, an apartment requires less maintenance because part of the building is managed by the condominium (meaning no roof to redo or facade renovations, etc.). Of course, the outdoor space in the case of an apartment will almost always be reduced compared to a house, making the neighborhood an even more important factor.
A house is often considered the ideal option for families with children because they usually offer more space and a garden. Owning a private house means more freedom and autonomy, but it comes with additional responsibilities in terms of maintenance and management.
Next Post: Financing in Israel
