Calis Beach and Fethiye Turkey Discussion Forum
Calis Beach Forum => Expat & Property Owners Q and A Forum => Topic started by: Scott and Lisa on March 03, 2013, 15:22:58 PM
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Would really appreciate any feedback.....(although not sure if posted in correct section!)
We will be in a position to by an apartment in about 3 years, but will only get a maximum 5 weeks per years usage, Until planned early retirement in 16 years. Do we buy in 3 years rather than later in-case of a huge property increase? or do we continue to take advantage of the cheap hotels, and then buy when we retire? if we wait will we be priced out? will Turkey go to the Euro?
or when we retire do we long term rent?......the options seem endless and we go round in circles all the time!
Any experience shared will be gratefully received
Scott and Lisa
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Personally I would wait until you retire. A lot can happen in 16 years.
The general opinion on the forum seems to be to long term rent first to ensure you are happy with your chosen area and you can look around at your leisure rather than jump in. Each to their own though.
Nobody can guess if you will be priced out or not. I think its fair to say that prices in the area have been fairly stagnant for the last 5-6 years.
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I would possibly add that 5 weeks use a year would make your stays quite expensive when you work it all out as a day rate, so as another option consider buying and advertising for summer lets to make a decent income each year till you retire to it. I think it's not a bad idea if you add that to it.
As bewva says, 16 years is a long time, especially in Turkey - but if your plans all seem to end with you retiring to your own apartment, I'd be inclined to buy it now while bargains are to be had and get 16 years of use and income, rather than wait and see what the market is like in 16 years time. With Fethiye, it's only ever going to improve - with promenades, marinas, who knows even big cruises docking daily - if it was Marbella you'd wish you'd bought when it was a sleepy little fishing village and Fethiye is no different in that respect.
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Or you might not have been glad you bought in Marbella cos you liked it when it was "just" a sleepy little fishing village.
I think you are planning way too early, about 16 years too early tbh. Rents for 5 weeks a year are affordable, flights are too if you plan in advance, have fun & enjoy Calis, who knows how it may look in 16 years time!
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it is very true that if the place changes dramatically we probably wouldn't be wanting to retire there.....on the other hand if we have bought early on and the place really develops we could sell up at a profit and buy somewhere else.
And it is early to be planning but years roll by and i dont want to miss the boat.
i cant do anything for a few years so i might see how it goes for now
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I certainly recommend long/mid term lets. If you're only planning 5 weeks at a time each tear you can have fun shopping around as we do. There are amazing bargains to be had, plus you can try different areas before you settle on something. Take your time.
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I have to say that I can't argue with your reply Mark. However, I doubt there were too many people who loved little Marbella fishing village who were that devastated to sell their sleepy abode for a huge profit and move on to a new sleepy fishing village with thousands banked :)
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sorry ive been misleading our 5 weeks are spread over 3 vists, or 4 weeks over 2 vists.
buying as potential investment interests me, but something in me tells me to keep it nice and simple in Turkey, we own properties in england and i dont want my landlord head following me on holiday.
Everything everyone is saying is all very useful
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We bought a place in 2005 and just use it for holidays, but have personlised and changed the inside somewhat to suit us and enjoyed doing that. We have never let it out but it is there for just family to use if they want too. We will, one day, spend more time there, but we have no intention of moving to Calis permanently. We just want to have long breaks in Turkey.
We don't regret buying it, as it's lovely to have our own place and privacy. If you have the means to buy your own place now, go for it.
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It is lovely to go out to your own place, having it just as you wanted it and just as you remember it. I also remember in my days selling property, how many customers came out lookng for a place of their own in the sun that they could also make a tidy income from - only to put their heart into it - furnish it, choose the curtains etc and suddenly find that they couldn't possibly rent it out as it had become "theirs"!
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Very true Keith.
Its also very upsetting when you go over and find that renters have not looked after your place how you would, stuff broken or missing, beds broken, things being put back in the cupboards dirty, pans burnt etc.
We rented a villa many years ago and we treated the place like it was our own. unfortunately not all people do likewise.
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I could see that happening Scunner! we been looking at moving to a nicer area for years, but the house is just as we want it so we stay where we are. it would also make real sense for us to buy another and rent this one, but same thing
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Scott and Lisa, did you get mt message? It should be in the "my messages" in the dark blue banner at top of page
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Scott and Lisa, we bought our villa in 2011 and went through exactly the same dilemma as yourselves (and like yourselves I am not retiring for amother 15 years). In fact the dilema really stressed me out but I am so glad I did.
My biggest fears were with investing in such a far away place and then visiting the same place every year. Now on the first point, property prices are low and there are many bargains to be had. We bought our place for less than the original asking price 5 years earlier, but since then the villa next door sold for much more. The key to my peace of mind is that the villa is part of a complex and we have a very good and supportive management plan in place. As for visiting the same place each year, well Fethye and Calis are definitely on the up and change for the better year on year. We are constantly finding better places to each and drink each year and dont have to spend time discovering the resort.
We had to do some repairs on our villa (hence the low price) but our management team sort all this out for us. We also do rent the villa and make enough profit to cover all the costs so effectively we get 5 weeks a year for free......
What I didn't do was invest on the expectation I would gain a quick profit. I did this because I had the cash and found a bargain (I wasn't looking.......came back with a significant souvenier).
Hope this helps.
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It is lovely to go out to your own place, having it just as you wanted it and just as you remember it. I also remember in my days selling property, how many customers came out lookng for a place of their own in the sun that they could also make a tidy income from - only to put their heart into it - furnish it, choose the curtains etc and suddenly find that they couldn't possibly rent it out as it had become "theirs"!
Scunner you got us in one. We bought with a view to renting out and making some money. We even got a Company in to rent it for us, but at the last minute we changed our minds. We loved the place too much to let anyone else use it and sleep in our beds.
The lovely thing about using a place yourself is you can personalise and make it into your Turkish home. The best thing of all is you can leave all your clothes in the wardrobes and drawers..
I think that the big problem with renting, you have to buy cheaper items to furniture the place and you cannot leave anything personal.
It then becomes a business, even when you go out and stay yourself it's similar to staying in an Hotel as there is nothing of yours in the place that you feel sentiment for and you cannot leave anything behind when you go.
Also you can never been sure who is staying in your place and how they are treating it.
I might add we have no regrets.
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I own a property that I don't rent out I also sold a property in the recession at a profit and then found a very good deal an a larger property. If you can afford to have the money in a property and not in the bank I would say buy after the initial cost of buying the upkeep is not that great in Turkey
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the last few posts really make a lot of sense,im already a landlord in England and think i would rather not have the hassle in Turkey, if i wait till i can pay cash for a property then ive only the upkeep to worry about, if i change my mind i can always start renting it.
Can anyone tell me the average bills/maintenance/swimming pool etc. on a 2/3 bed apartment in a complex?
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I have a three bed apartment the maintenance charges are 60Tl a month and council tax is around £45 a year i also pay someone £100 a year to check on my apartment and keep my Turkish pay as you go phone active
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i think i can live with that Graham!
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Scott and Lisa, we bought our villa in 2011 and went through exactly the same dilemma as yourselves (and like yourselves I am not retiring for amother 15 years). In fact the dilema really stressed me out but I am so glad I did.
My biggest fears were with investing in such a far away place and then visiting the same place every year. Now on the first point, property prices are low and there are many bargains to be had. We bought our place for less than the original asking price 5 years earlier, but since then the villa next door sold for much more. The key to my peace of mind is that the villa is part of a complex and we have a very good and supportive management plan in place. As for visiting the same place each year, well Fethye and Calis are definitely on the up and change for the better year on year. We are constantly finding better places to each and drink each year and dont have to spend time discovering the resort.
We had to do some repairs on our villa (hence the low price) but our management team sort all this out for us. We also do rent the villa and make enough profit to cover all the costs so effectively we get 5 weeks a year for free......
What I didn't do was invest on the expectation I would gain a quick profit. I did this because I had the cash and found a bargain (I wasn't looking.......came back with a significant souvenier).
Hope this helps.
I have been visiting Fethiye almost every year for the last 20 years never get bored of it and there is nothing like having a home from home
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this post from Guy is where i could be in a few years....thanks a lot of questions have been answered. which ever way we go round it fethiye is definitely where we want to end up, the upkeep is affordable, prices are good,so why wait? as soon as i can im buying ;D
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Not all site fees are so cheap so bear that in mind when your budgeting.
Ours, with insurances etc now come in at nearer £1200 per annum, this covers 24hours, 365 days per year security and it's also looked after within the price.
Not the cheapest site in Calis but in my mind one of the best.
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We have CCTV gardener and cleaners are there every day and have lots of Turkish residents so security is good insurance cover is with intasure building and contents around £200 without digging out policy
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Scott, i have sent you an email.
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Hi, i not recieved any email?
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When we started to seriously look at buying to retire we saw it as a ten year plan, which is what it worked out to, and our view is that the ten years soon passed. Although during that time we did buy a bigger villa for retirement, and then eventually after two years sold the original villa.
If I was starting again would I buy in advance and use for holidays, possibly not in use terms. Long term rental for first part of retirement, and then take time to decide whether you like it, where you like best and what you like best is an attractive option. However, part of me thinks that there are bargains to be had - particularly at the end of the season - both new and especially re-sales, combined with what I think over the next ten years plus will see Fethiye (and indeed Turkey) become a more established and desirable place for holiday/retirement home (including a growing number of Turks looking to retire or work here) that the investment in a property bargain - stress again best at end of season - could be a very viable long term plan.
What ever you do, good luck. If it is any guide we are enjoying it here. ;D ;D ;D
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Scott, look on the blue tool bar at the top of the page and click My Messages
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still no message? Try ///email removed///
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Scott, not a good idea to put your email on a public forum, you might attract scammers
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Never thought of that, thanks Jacqui
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But you've left it on :o
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dont know how to take it off!
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If modify is still available - click that and edit your post :)
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still no message?
OOps :-[
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Thank you,who ever took that off for me
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We bought our apartment about 6 years ago, used equity from uk house and remortgaged. It is a 3 bed duplex on a complex of 6 apartments in total.
We pay £400 a year maintenence. Water is free. Council tax is £80 a year. Were in a quiet, non tourist location and I love it there. We don't retire for another 23 years unfortunately.
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thanks keng38 thats the sort of costs i like!
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We bought a beautiful home (introduced to us by Scunner) 9 years ago. It was the first property we saw and we fell in love with it. The area where our house is has changed a bit but we expected that. We still love our beautiful Turkish home and I quite like the changes that have been made in Calis and Fethiye. Every year there is something new and in my opinion improves the area. It is still a very chilled out place and a place where we can truly relax. The one thing for sure is that the beautiful scenery will never change. We rent our property out mainly to friends and family and although at a reduced rate it stills pays for the maintenance and up keep. We have let it a few times through our property management agency. We had no problems but I must admit I do not like doing it. There is a lot of good advice on this forum. Good luck and let us know what you decide.