Hello

[Smeegazzle]

Hi, I'm Gary and I am looking for a nice place to buy in Ovacik/Hisaronu/Olu Deniz area. I have visited twice and like the place, a little concerned about getting an income and/or going stir crazy (but only a little)

The problem is I am VERY confused as to the best way to proceed...

I can:
A - Buy a small place in Turkey (£35 - £50k), rent out our UK home and check the place out for 6 months to a year before deciding.
B - Sell up in the UK and buy one nice place and 2 smaller ones to rent out.
C - Stay at home and dream...

My daughter and her family are already living in Hisaronu so we have an extra reason to move there, but I have never been good with major decisions
Any advice would be welcome.
Cheers.

 

[Sunny Seasider]

Welcome to TLF, hope you enjoy it here. If I was in your position with family already there, I would rent a place firstly for say 6 months, rent out your UK home, that's if you need the income. This way you can have a good scout around and enjoy time with your family there too. I'm sure that there are many threads on here that will help guide you through the buying process, but must say Research and lots of homework before you make your final decision. Hope this helps

 

[Mushtaq]

How about

D. Rent or live with daughter for 6 months (while renting out your UK property) and then decide, if all goes well then option A sounds sensible.

 

[luddendenturk]

Don't buy if you are going to rely on the income!

Very few places get decent occupancy rates, and the costs of maintenence, cleaning etc. will outweigh any significant level of profit.

Go and rent a place for a while and get the feel of the place.

 

[PASH]

My advice would be rent out at home for 6 months and rent a property in Turkey for the same time, that will give you time to evaluate the place. The buying process can be very stressful and renting out property in Turkey can also be very stressful. The rents are never as high as you would envisage, the damage and non payments of rent sometimes outweighs the investment. Proceed with extreme caution would be my advice, its a lovely country but fraut with problems

 

[Miss Money Penny]

Hello and welcome Gary, Sunny seasider's advice is good rent in Turkey for a while first, take your time.

 

[Smeegazzle]

Thank you all, I am surprised to have such caution advocated by people who are already committed (?) to Turkish living.
My concern with the cautious route is that I would have to quit my job to make the move and this is pretty major for me, the idea of returning to the UK and job hunting is VERY unattractive!
I have been advised by a financial chappy to buy a couple of (interest only mortgaged) properties to rent in the UK to provide an income in Turkey, but this seems messy as I would be remote from the properties and any problems.
Confusion reigns!
Gary

 

[PASH]

Certainly a better investment buying in the UK and very rarely has any problems on purchase whereas buying in Turkey is full of problems- take time to read all the threads on here about buying in Turkey, it will be an eye opener for you

 

[Smeegazzle]

A Turkish businessman advised that I buy a couple of apartments in a city to get residential tenants, presumably lower rental but more reliable?

 

[Sunny Seasider]

Thank you all, I am surprised to have such caution advocated by people who are already committed (?) to Turkish living.
My concern with the cautious route is that I would have to quit my job to make the move and this is pretty major for me, the idea of returning to the UK and job hunting is VERY unattractive!
I have been advised by a financial chappy to buy a couple of (interest only mortgaged) properties to rent in the UK to provide an income in Turkey, but this seems messy as I would be remote from the properties and any problems.
Confusion reigns!
Gary

Yes, we are committed and we absolutely love our home out in Turkey, but all your TLF friends are advising is just tread very, very carefully, the buying process went very smoothly for us, but when you get into the nitty gritty of buying you will be so very grateful for the advice that you will receive by doing your research on here. Only you can make that final decision, but I would, as I said earlier rent first. Your daughter must also be enjoying life out in Turkey too, and you'll have many fun times to share to-gether.