Jerusalem Property Update:
LUXURY Penthouse Special +
Creating Your BUDGET
(These are the thoughts of CapitIL Sales Director Ben Levene.)
In the market today, getting your budget right is very important for a few different reasons.
Firstly, it is very important to know how much money you can spend. I stress to my clients who are either people without unlimited money, who are not bringing the money from America, or who are not buying in cash, that unless you are very comfortable with your finances and know that you can raise the money, getting a mortgage in principle approved gives you the ability to know what you can spend and work out your budget.
Remember, most of the time the purchase fees of 12.5 percent plus (taxes, agent fees, lawyers etc.) cannot be added to the mortgage and must be funded differently.
No one wants to see properties that are 10 million shekel if you can only afford 7 million.
It is not fair on you and there is no need to go through the emotional process of finding exactly what you are looking for, but not being able to stretch the money.
We strongly advise looking at your mortgages at the time you start looking to buy. What does this process look like?
Firstly, speak to friends and family who have finances in Israel and ask them how they bought their house. Did they take the money from the states?
Did they take an Israeli mortgage? If they took an Israeli mortgage, how did they do it?
To check out some LUXURY penthouses, keep reading!
SOPHISTICATED Penthouse in the Greek Colony
Location: Reish Lakish, Greek Colony
Building Type: Renovated to a luxurious standard
Size: 1900 SQFT
Balconies: 2 large sukkah balconies totaling 850 SQFT
Extras: High-end lighting and carpentry, Amazing views, 2 parking spots
Asking Price: 11,500,000 NIS (approximately $3,300,000 USD)
Why YOU should buy: This penthouse has already been designed to the highest standard. It is rare to find a luxury unit already completely finished and ready to move in with no extra work to do.
CHARISMATIC Duplex in German Colony
Location: Avner Ben Ner, German Colony
Building Type: Boutique building with only 3 units
Apartment Type: Luxurious
Size: 1670 SQFT
Rooftop Terrace: 807 SQFT
Balconies: Rooftop terrace
Extras: American-style kitchen, gorgeous finishings, storage
Asking Price: $3,500,000 USD
Why YOU should buy: This timelessly designed penthouse has gorgeous views in one of the best locations in town!
Penthouse With POOL in the Heart of Baka
Location: Park 8, Baka
Building Type: New finished luxury project
Apartment Type: Luxurious
Size: 2335 SQFT
Bedrooms: 4 (2 suites)
Balconies: Sukkah balcony, rooftop with private pool
Extras: Panoramic views (including the Old City!!), 2 parking spaces, storage, gym
Rental Price: 30,000 NIS (approximately $8,700 USD)
Sale Price: 14,500,000 NIS (approximately $4,200,000 USD)
Why YOU should buy: Gorgeous views and a private rooftop pool?! Say no more!