(Courtesy of Asden) Buying an apartment in Israel is an incredibly special opportunity and can be a unique and rewarding experience. For many, though, it can also seem scary or overwhelming, especially if buying property from abroad. At Asden, we have had the opportunity to speak to many Jewish families and individuals from abroad who are in the process of buying a home in Jerusalem and learn about their experiences and some of their preconceived notions. Too often we see fear and hesitation, rooted in a lack of knowledge, become a roadblock for families looking to turn their Zionist dream into a reality. As a service to our clients, we often help them engage a team of professionals who will guide them through the various aspects of the process. When you have a trusted team of advisors by your side, the experience becomes much less scary. In order to help out our future clients and anyone looking to buy a home in israel, we’ve gone ahead and reached out to a few of our trusted service providers in the fields of mortgage consultation, law, money transfer and interior design to ask what advice they can give for foreigners looking to buy property in Israel. We’ve summarized their most important points below:

1. Surround yourself with a professional team of experts who will advocate on your behalf.

“You are buying a home, and may be doing so from thousands of miles away. You want to make sure to surround yourself with a team of experts (lawyer, agent, mortgage broker, insurance agent, interior designer etc.) who will be there for you and can guide you through the process so it will all be done smoothly and with as [few] headaches and problems as possible. Make sure you find people who are available and can answer questions for you as they arise.” —Yair Givati, real estate attorney

2. Speak to a lawyer well in advance.

“Consulting with a lawyer in advance and structuring your purchase properly can potentially save you hundreds of thousands of shekels. A lawyer can also handle the title search, reporting requirements to the tax authorities and they understand how to navigate contractual issues to protect your best interests. In addition to reviewing your contract and filing tax forms, having a good lawyer from the beginning will help you coordinate the efforts of all professionals involved in the project and help you deal [with] and decipher new information as it arises.” —Gad Dishi, real estate attorney

3. Do your research.

“If you are planning on making aliyah, you may be eligible for a number of rights if you plan ahead of time.” —Ari Dobner, exchange expert.

4. “Only sign documents that have been reviewed by a lawyer.”

—Ari Dobner, exchange expert

This one may be self-explanatory. Trust the experts and the experts only. Once you sign a legally binding document, you cannot go back.

5. Know the different mortgage options available to you.

“There are a number of different ways to construct your mortgage, and each of them has their advantages and disadvantages. If you’re coming from the U.S., you may be more familiar with the ‘fixed rate,’ but in Israel that isn’t necessarily the best option. A mortgage broker can guide you and help you find the best option for your finances and situation.” —Aryeh Strickoff, mortgage broker.

6. Find out the appraised value of the property before signing.

“The amount the bank lends to you is based on the appraisal value of the property, not the purchase price. If the appraisal value is lower than you expected, you’ll need a larger then expected down payment.” —Aryeh Strickoff, mortgage broker

“The appraisal value will also tell you if you are getting a good deal or not based on other homes in the area. And lastly, appraising the property will also let you know if there are any building violations. For example, if your kitchen is built in an area that was not included in the permit, you can find yourself needing to rip out your kitchen and then needing to redesign the entire unit. But all this can be avoided if you get an appraisal first!” —Gad Dishi, real estate attorney

7. Use a reliable financial service provider for transactions.

“It may go without saying, but the first step we recommend is opening up a bank account in Israel if you don’t already have one. You will need to pay contractors stubs and cover various costs that cannot be paid via wire transfer. For the bulk of your charges, it’s important to have a reliable and licenced financial advisor who can make sure you don’t lose more money than you need to on transactions or exchange rates. Usually promises of ‘no fees’ or ‘great rates’ from banks or lending companies are code words for hidden markups.” —Ari Dobner, exchange expert

8. Consult with your interior designer beforehand.

“If you’re building or developing your apartment, it’s important to consult with an interior designer to walk you through all the stages of the construction process, and ensure that you are receiving everything the builder or developer promised. Builders here also have different standards and may have secret building costs or charges that foreigners don’t understand. Working with a good interior designer can save you lots of money and aggravation. Designers can help you figure out what you may want or need, and enable you to build a realistic budget plan before you begin. ”—Annette Frommer, luxury interior designer

“They can advise you on what items to bring or not bring over from overseas and advise you on what will fit in your new home. With a good interior designer you can plan out what you want your home to look like beforehand, have a clear understanding of how to get there and [they] will help you overcome any obstacles along the way.” —Shana Sunshine, interior designer

9. Do get clear on all your rights for designing your apartment.

“Understanding what is involved in designing your home and what exactly you are getting will help you figure out what you may want or need to upgrade. This also helps to come up with a budget plan.” —Shana Sunshine, interior designer

10. Do buy a home in Israel.

“Besides for being a great financial investment, buying a Jewish home connects you to thousands of years of Jewish heritage, culture and traditions.” —Annette Frommer, luxury interior designer