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Buying an apt in Israel



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israelgirl




 
 
    
 

Post Mon, May 25 2015, 3:34 pm
We are looking to buy an apt in Israel, rather than continuing to throw money out the window for rent....
Thing is -IT IS SO CONFUSING! How does it work here? laywers/mortgages/down payments/contractors....it's all French to me. Would somebody mind breaking it down a bit? What was your experience? Which banks are best and why?

Thanks!
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Liebs




 
 
    
 

Post Mon, May 25 2015, 6:48 pm
If you made aliyah then you have to put less down.
If you are on student visa you have to put a larger percentage down.
We looked into it at one point but I forgot the numbers.
The prices are sky high now but not sure it will ever go down...
Just throw yourself in and buy. I regret I never did.
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grace413




 
 
    
 

Post Tue, May 26 2015, 12:50 am
I'm a big believer in buying.

Think about the following
1. Where do you want to buy?
2. New construction or second-hand.
3. What features are really important to you - such as be realistic about how many steps you are willing to climb and how far you want to be from a bus stop.

Sometimes it's easier to get a larger mortgage with new construction. Buying on paper has its advantages and pitfalls (we did it and BH it worked out well).

Are you olim with mortgage rights? Have you checked the NBN website - they probably have good info.

We used Bank of Jerusalem which is very olim friendly.

Htzlacha.
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