Author Topic: Do we or don't we? ??  (Read 3449 times)

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Offline marshy

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Do we or don't we? ??
« on: April 25, 2016, 09:27:29 AM »
Hi All,
Were close to giving up the rat race and moving to calis. But just so many things going around in our heads.
Will we have enough to live comfortable...what happens if it all goes wrong..do I buy/rent..maybe get some income from a second property rental? ??..
And the current climate with banks/political situation etc??..

Any clairvoyants out there gunna tell me it will be ok? ??.
Is it a good or bad time to decide at the moment. .scary stuff! !
I understand life is short and to live for today etc..but what if I live to 100 and skint! !..I'm guessing most expats go through this.
Sorry lots of questions.

Cheers Phil. 




Offline JohnF

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Re: Do we or don't we? ??
« Reply #1 on: April 25, 2016, 09:42:35 AM »
Right at this moment you are probably in the minority by wanting to move to Turkey, but there's nothing wrong with that.  Things are uncertain economically and there is the potential for things to turn a touch dicky from a security perspective.

However, Fethiye and Calis are a bit removed from all the goings on elsewhere in the country so if you're up for it then no reason why you shouldn't give it a go.  A few caveats:
  • Don't burn your bridges in the UK, i.e. don't sell up completely.
  • Rent here initially as you may not like the ex pat lifestyle compared to previous holiday times.  If, while you're here you come across the property bargain of a lifetime, stop and think "why is it so cheap" before you make a commitment.
  • Keep your main wedge in GBP, USD or EUR - no harm in getting interest on your day to day money, but don't commit large amounts to lira.
Most importantly, make the decision yourself - don't be swayed by those who say "Turkey?  Why do you want to move there?"  But on the other hand, don't be swayed by those who say "Yep, land of süt ve bal here".

Good luck

JF

Offline marshy

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Re: Do we or don't we? ??
« Reply #2 on: April 25, 2016, 10:44:29 AM »
Hi John.
Thanks for the advice. Is really something to think long and hard about.
I think financially we could only do it by selling everything but keeping the "nest egg" money and living off the interest.hoping we don't whiter it away too much  over the years. .
I know the interest rates are going to be around 12% at the moment but I guess that could all change.
Thanks again!
Phil.

Offline JohnF

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Re: Do we or don't we? ??
« Reply #3 on: April 25, 2016, 10:51:50 AM »
I think financially we could only do it by selling everything but keeping the "nest egg" money and living off the interest.


I know the interest rates are going to be around 12% at the moment but I guess that could all change.

If you can only do it by selling up and living off (Turkish) interest then that is a riskier strategy than I'd contemplate given the current economic and political situation in Turkey. 

I just hope your (nest) egg is more akin to an ostriches than a quails...

JF

Offline mercury

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Re: Do we or don't we? ??
« Reply #4 on: April 25, 2016, 10:56:46 AM »
Bear in mind that if you do change your mind after moving here that potentially you could also lose a lot of money changing your lira back to sterling as many of us have already done..

Offline marshy

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Re: Do we or don't we? ??
« Reply #5 on: April 25, 2016, 11:01:33 AM »
Thanks John.
I appreciate your advice.
 Maybe a few more long holidays to decide.

 8) Phil.

Offline nichola

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Re: Do we or don't we? ??
« Reply #6 on: April 25, 2016, 11:29:50 AM »
You could rent your house in the uk and rent somewhere and probably live quite comfortably here on the income from that. Rents in different areas vary so it will depend where in the uk your house is to earn enough in rent there that you'll need to live here.

I would have thought about 6000₺ Per month would be enough.

Offline Colwyn

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Re: Do we or don't we? ??
« Reply #7 on: April 25, 2016, 12:06:54 PM »
I know the interest rates are going to be around 12% at the moment but I guess that could all change.
JohnF advises that if a property looks like an absolute bargain you should ask "Why so cheap?". A similar point might be made about interest rates. Why do Turkish banks offer such high rates on Lira accounts when their $, € and £ accounts get nowhere near as much? Is it because Turks regard the Lira as a volatile currency and therefore very high risk and have to offered very high inducements to tie their savings up in this currency? Do they prefer a secure haven for their savings such as USD, EUR or {better still} gold?

Offline KKOB

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Re: Do we or don't we? ??
« Reply #8 on: April 25, 2016, 14:57:30 PM »
You shouldn't decide until you've spent an entire winter in the area. You need to experience the expat life in ALL seasons.

Offline davybill

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Re: Do we or don't we? ??
« Reply #9 on: April 25, 2016, 15:36:15 PM »
Yes try it out and I think you will find its great,




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