Author Topic: Oh to have a Crystal Ball  (Read 4091 times)

0 Members and 1 Guest are viewing this topic.

Offline babcc

  • Full Member
  • ***
  • Posts: 259
  • Age: 55
  • Location: United Kingdom
  • It is, what it is!
Oh to have a Crystal Ball
« on: May 13, 2015, 16:39:56 PM »
Hi.  Really curious as to what people think.  I have owed a duplex apartment off BMB for nearly 6 years now and absolutely love it.  Currently rented out long term and unfortunately for various reasons we have not been able to get out as we would like.  Currently have it up for sale but am wondering if I am doing the right thing.  Thing is we did what it seems like a lot of people did - came out for a two week holiday, got the Calis bug and bought.  My husband is a self employed builder with no pension and thought well this will be a nest egg if nothing else so took the equity out of our UK home to pay for it.  Unfortunately had to do that interest free and cannot afford to get that onto repayment.  We are both in our mid 40s and are on track to be mortgage free in 8 years which is fab but with only 8 years remaining and if we continue as we are will have the interest free part left to pay with no way of paying it off other than to sell the apartment or get another mortage - yuk!

God I am whittering on - sorry!  I guess what I am asking and hence the cyrstal ball reference - is having a property in this part of Turkey still a good investment? Do I dig in for the long haul?  Should the problems with ISIS give cause for concern - sorry if that is an ignorant question but it is something that I question in my mind a lot so might as well put it out there.

Genuinely interested to know what people think and thanks for taking the time.

Barbara   :)






Offline trainer

  • Full Member
  • ***
  • Posts: 946
  • Age: 58
  • Location: The BORO
  • Last man standing
Re: Oh to have a Crystal Ball
« Reply #1 on: May 13, 2015, 17:19:07 PM »
your not the only one who has these thoughts we were in the similar situation bought our apartment as a pension investment using equity we had in our UK home, I am in construction also and had a very basic pension so thought this was a good idea at the time. At the moment it only costs us general service fees and maintenance each year as our mortgage has now been paid of so we can sit on it for a wile, the apartment has not gained or lost value the problem we are facing is that we not getting any younger I will be 50 next week and keep thinking should I try and sell now while I can still enjoy the money or just hang on to it. We use to come out 3 times a year but this year I will only be out twice and have the feeling this could be the norm from now on,  we do love our little piece of heaven but its becoming harder and harder to find cheep flights the area seems to be going down hill slowly while prices are going up but we keep coming back.
Our friends keep saying come to Spain or Portugal but every time I think about it I have guilt pains and say no, Calis is like a wife always there and always dependable Spain or Portugal would be like a mistress and I would always be looking over my shoulder  :D

Offline JohnF

  • Administrator
  • Prolific Member
  • *****
  • Posts: 4322
Re: Oh to have a Crystal Ball
« Reply #2 on: May 13, 2015, 17:25:15 PM »
Our friends keep saying come to Spain or Portugal but every time I think about it I have guilt pains and say no, Calis is like a wife always there and always dependable Spain or Portugal would be like a mistress and I would always be looking over my shoulder  :D

Ha ha, that one made me chuckle...  mainly because it's exactly how I described Turkey only a few weeks ago.  Said it as we were booking flights to head off to Cordoba shortly  :)

JF

Offline babcc

  • Full Member
  • ***
  • Posts: 259
  • Age: 55
  • Location: United Kingdom
  • It is, what it is!
Re: Oh to have a Crystal Ball
« Reply #3 on: May 13, 2015, 17:30:58 PM »
Our friends keep saying come to Spain or Portugal but every time I think about it I have guilt pains and say no, Calis is like a wife always there and always dependable Spain or Portugal would be like a mistress and I would always be looking over my shoulder  :D

Ha ha, that one made me chuckle...  mainly because it's exactly how I described Turkey only a few weeks ago.  Said it as we were booking flights to head off to Cordoba shortly   :)

JF
Our friends keep saying come to Spain or Portugal but every time I think about it I have guilt pains and say no, Calis is like a wife always there and always dependable Spain or Portugal would be like a mistress and I would always be looking over my shoulder  :D

Ha ha, that one made me chuckle...  mainly because it's exactly how I described Turkey only a few weeks ago.  Said it as we were booking flights to head off to Cordoba shortly   :)

JF
your not the only one who has these thoughts we were in the similar situation bought our apartment as a pension investment using equity we had in our UK home, I am in construction also and had a very basic pension so thought this was a good idea at the time. At the moment it only costs us general service fees and maintenance each year as our mortgage has now been paid of so we can sit on it for a wile, the apartment has not gained or lost value the problem we are facing is that we not getting any younger I will be 50 next week and keep thinking should I try and sell now while I can still enjoy the money or just hang on to it. We use to come out 3 times a year but this year I will only be out twice and have the feeling this could be the norm from now on,  we do love our little piece of heaven but its becoming harder and harder to find cheep flights the area seems to be going down hill slowly while prices are going up but we keep coming back.
Our friends keep saying come to Spain or Portugal but every time I think about it I have guilt pains and say no, Calis is like a wife always there and always dependable Spain or Portugal would be like a mistress and I would always be looking over my shoulder  :D
Glad it is just not me!  Being in construction you know what it is like and it never gets easier.  Love the wife/mistress analogy!  Mine of course would be hubby and Brad Pitt! 

Offline babcc

  • Full Member
  • ***
  • Posts: 259
  • Age: 55
  • Location: United Kingdom
  • It is, what it is!
Re: Oh to have a Crystal Ball
« Reply #4 on: May 14, 2015, 13:07:19 PM »
Well I did not get much response to this but actually that is fine.  It really helped me just unloading my thoughts and I think we are going to sit tight and hold onto the property.   8)

Offline JohnF

  • Administrator
  • Prolific Member
  • *****
  • Posts: 4322
Re: Oh to have a Crystal Ball
« Reply #5 on: May 14, 2015, 14:04:21 PM »
Not sure what responses you were looking for.

I guess what I am asking and hence the cyrstal ball reference - is having a property in this part of Turkey still a good investment?

It depends on what return you are looking for from your investment.  If its an emotional return, i.e. you enjoy having your place in the sun that you can use freely whenever you want, then yes, it is a good investment.

However, if its a financial return you're looking for then personally I'd say no, it isn't a good investment.  Generally speaking, property prices in the Fethiye area are far more stable than many others along the south/south west coast so you're not likely to make a significant loss when selling, you may even make a profit.  What you wont do (again, just in general) is make a significant profit.  Those days appear to be long gone although Turkey being Turkey, you never what's round the corner - which may work for you, or it may work against you.

You need to work out what is more important, the emotional return or the financial return.

Personally, over the past two years we've divested ourselves of all investments in Turkey bar one apartment in Karagozler.  When they sort out the area where the boatyard is I believe it will increase the value of that property and if it's a significantl increase, there is a strong likelihood we'll off load that property also.

JF

Offline babcc

  • Full Member
  • ***
  • Posts: 259
  • Age: 55
  • Location: United Kingdom
  • It is, what it is!
Re: Oh to have a Crystal Ball
« Reply #6 on: May 14, 2015, 17:10:37 PM »
Thanks John - to be honest I was not sure what I was after and please do think I was making a pop about lack of response.  It really did help me to offload what has been in my mind.  There is definitely an emotional pull here as it is one place where I seem to get the peace of mind I crave as I have had to deal with a lot of rubbish over the past few years.  However, I am trying to balance the heart with the head so to speak!  I think for now we will keep onto it. xxx




Share me

Digg  Facebook  SlashDot  Delicious  Technorati  Twitter  Google  Yahoo
Smf