Buying a House in Modiin: For Whom is it Profitable and What is the Best Way to do so?
The city of Modiin is considered the gem among Israel’s cities, and is very popular amongst the highest socio-economic citizen class in Israel; and there is a good reason for this. The first reason is Modiin’s proximity to Jerusalem and to Tel Aviv. Other reasons include the comfortable weather along with its unique landscape.
Another important reason is the construction investment of the city. It has many green parks, modern residential areas, well planned commercial areas, as well as two train stations, that connect the city to the center of the Israel.
The third reason is the quality of the education system in the city. Modiin’s municipality set a goal to promote high quality education. Modiin has high level educational institutions including, elementary, junior high and high schools. This also includes many advanced educational tracks in various high schools. Modiin also has post-secondary institutions such as the Academic Center for Undergraduate and Postgraduate Studies of the Open University.
The city also invested in its leisure attractions; such as the Anava Park and Lake, which includes hiking and biking trails. There are many successful sporting facilities with pools, tennis courts, and work-out rooms. During the summer months, the outdoor amphitheaters host the best singers from all over the country. In the Avnei-Chen neighborhood (also known as the Kaizer neighborhood) there is a newly opened Extreme-Sports Park for cyclists and skaters, as well as the local Sportek. In addition, there is also an innovative water park, which is planned to be built in Modiin. It will include water attractions, water slides, swimming pools, and other attractions.
In light of all this, it’s no wonder why Israel’s upper class is very interested in buying a home in Modiin. In terms of the socio-economic level, Modiin is ranked 8 out of 10. Many of those who decided to live in the city, come from various countries abroad, such as the USA, Canada, the UK, and France. As well as from major cities in Israel such as Jerusalem and Tel Aviv. Among Modiin’s residents, are a high number of professionals in the field of education, engineering, high-tech, medicine, economics and senior positions in the IDF.
If you are a young couple, or just started your family, or even parents with older children, buying a home in Modiin is a recommended step for you. Living in Modiin will give you the opportunity to raise your children in a quality environment with a high level of education, whilst being close to your place of work. There are also many options for recreation and leisure as well.
Buying a House in the Buchman (Moriah) Neighborhood
The Moriah neighborhood in Modiin, also known as the Buchman neighborhood, is one of most sought after neighborhoods in the city, and homes eight thousand residents who belong to the very high socio-economic level. The neighborhood is fairly diverse. It mainly has an Anglo-Saxon religious character, but also has non-religious residents. Its population is fairly young, including families with children in kindergarten, elementary and junior high.
Most of its residents are academics, and the neighborhood has many public institutions (schools, commerce, branch of Bnei-Akiva youth movement, a national-religious yeshiva, skate park and more). Close to the neighborhood there is the Modiin Mall, shops, cafes, chopping centers and large supermarkets.
If you are also a parent of young children and are interested in buying a home in Modiin, buying a home in the Buchman neighborhood is considered ideal for children and teenagers.
Buying a Home in the Kaiser (Avnei Chen) Neighborhood in Modiin
The Avnei Chen neighborhood, also known as the Kaiser neighborhood, is also considered particularly prestigious. The neighborhood’s nature is a pluralistic national-religious one; but just as the Moriah neighborhood, Avnei Chen also consists of non-religious residents. The neighborhood consists of cottages and residential buildings. There are also various educational and public institutions, as well as commercials centers, specifically the Kaiser Center. There is also a Mikveh, youth groups, sports center and a public pool in the neighborhood.
Many are interested in buying a home in the Kaiser neighborhood, thanks to social life; besides what is listed above, there is also a natural park, community center, an amphitheater and shopping centers.
Buying a Home in Modiin: Why it's Worth it to do it with a Mortgage Broker in Modiin
Buying a home in Modiin is the dream of many immigrants to Israel. Modiin is characterized by a high percentage of immigrants from Anglo-Saxon countries (USA, Canada, UK and more), in addition to the many communities that exist in the city. The city also offers a high quality of standard of living for children and parents alike. Because of this, buying a home in Modiin is a relatively high cost, that requires most families to take out a high mortgage accordingly.
Many members of the Anglo-Saxon communities who come to Israel, first encounter the bureaucracy that includes taking out a mortgage in Israel.
Unlike the process in the USA, taking out a mortgage in Israel is very complex: It requires submitting many permits and documents, and most importantly, understanding the terms of the mortgage, which will affect the monthly repayment that will be paid in the long run.
The lack of understanding in this complex process along with the language difficulties, can handcuff many immigrants who chose to take out mortgages, with much less lucrative plans, which will require very high repayments every month.
A mortgage broker in Modiin is the right choice for an affordable mortgage. His familiarity with the nature of immigrants from different countries, allowed me, Erez Shemesh, to gain extensive experience in everything related to mortgages for immigrants from the USA, Canada, UK and other countries. In my experience with the different systems in Israel, and with the different mortgage plans that exist, with their pros and cons. So far, I provided my professional service to hundreds of families who immigrated to Israel, and specifically Modiin.
My mortgage advice will ensure you a transparent process, while my experience as a mortgage broker in Modiin has helped many couples and families take out a mortgage with full transparency and trust, along with the proper handling of all bureaucratic matters, negotiations with the banks. This results in savings of hundreds of thousands of shekels in long term mortgage payments.
As you can understand, buying a house in Modiin, warrants an experienced mortgage broker in Modiin.
If you are interested in buying a home in buying a house in Modiin, call me, and I will be happy to be of service to you.