Calis Beach and Fethiye Turkey Discussion Forum
Turkey Related Subjects => Cost of Living in Turkey => Topic started by: kenny mclachlan on October 27, 2014, 19:14:07 PM
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Would 150k to invest and£500 a month be enough to live on,pay rent,food and the usual expenses.
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Depends on your attitude to risk. If you convert your GBP to lira then the interest rate is respectable, but bear in mind there is a lot of inflation. Should you ever need to convert back to GBP you can in some circumstances face a loss. It is also worth noting the president wants to lower interest rates. If on the other hand you keep your 150 in GBP then the interest rates are a lot lower. Lots more on the site about costs, e.g. drinking, driving, eating out, keeping a pet, how many need to be funded by this etc. More recently additional costs have arisen such as health insurance but this again is hard to quantify as lots of people don't have it but many might be forced to buy it if they want to secure residency here. Hope this little info helps bit.
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£500 a month to survive, not live.
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If you did invest your £150,000 + £500 per month, this would be enough to live a fairly normal lifestyle.
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I presume looking at your previous posts that this is for a couple ? If so, I believe you could live a fairly basic lifestyle here, depending on how much you like to go out and what you would need to put aside for trips back to the uk, and any major expenses. Of course that is at the current rates of interest, if they take a nosedive you would struggle. I am in a very similar financial situation, not so much capital but a bit more pension, and I can't afford to go mad, but I go out regularly and enjoy my life here. There are a lot of things to factor in, like how much rent you want to pay, bigger place in a better area means more rent to find and vice versa. Will you want to run a car ? Yes, dolmus transport is cheap and you can get to most places, however, convenient and pleasurable it is not. Getting on a packed bus in the middle of summer is like sitting in a stinky sauna, or waiting for the dolmus and then several drive straight past you because they are already full is another nightmare. Yes, I think its possible but I don't think you would have enough to 'party' !
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Thanks for the comments they are much appreciated,also this would be for one person only.
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do you agree with this link.http://http://www.earthlaughsinflowers.info/turkish-living/cost-living-turkey-2014/
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I'd say the writer has got it about right, in particular the large costs of running a car in Turkey, and whilst the recent reduction is fuel cost is welcome. The cost of running a car is till expensive both in relative terms against other countries, and in absolute terms.
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I thought Rimms got it right on the subject of cars - don't buy one, just rent one when you need it. Well, till he bought one ;)
They are a ridiculous price and as mentioned, the dolmus will get you where you need to go most times, and most days you won't be going anywhere outside walking distance anyway - making a car even more expensive, sitting outside doing nothing.
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The only good thing about the car prices is that we could get more for ours now 2 years on than we paid for it.
The tax and insurance is as cheap as chips as it's an older car with a small engine.
We spend on average 35tl a week at the market, and about another 50 each week in BIM, but don't eat much meat it her than chicken.
Occasional trips to Kipa for items we can't get in BIM, so average food bill about £40 a week, compared to the £80 or so I was spending 3 years ago in UK.
Out last electricity bill was 70tl, water is a pittance, and gas bottle 210 tl a year.
Rental depends as said above, ours is really good value, but we have no pool, although the longer were here the more we think we wouldn't want the hassle, it's so easy to go to hotels and the sea is down the road.
You will need to consider the cost if health insurance as well now for residency.
A lot of people complain about that, but it's about 9 tl a day for first class cover.
If you live like you do in UK a I think you will manage easily, if you live like you're on holiday you will struggle.
The most expensive thing for us is when family and friends come over, eating out and trips, etc and I like to go back and see family a couple of times a year, so those costs need thinking about too.
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I totally agree with the article and with the ongoing comments. If there is only one of you and you don't expect to live like you are on holiday, out every night, you will manage easily. I have a nice life, go out at least 3 times a week, I don't need to penny pinch, and I don't need to worry about money. I've no regrets, it beats the UK hands down. Is it perfect ? No. Do the good bits outweigh the bad ? Yes
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Keith is right about the car and I still believe you can get by really well (living here in Çalis) without one, the summer busses are every few minutes, cheap and your unlikely to get caught in the rain. Car hire rates can be negotiated in the winter with several of the hire companies that have a fleet of vehicles stood in the compound.
We went two years without missing a car but got an unexpected cash windfall and decided to buy one rather than put the money in the bank.
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Thank you for all your comments I appreciate it so much, it has certainly given me food for thought. Is there any way you can register cars from uk ? if this is not possible how much to buy and run a road legal quad, talked to a nice chap outside azda and he said cheap as chips.
Thanks Kenny