Safe as Houses
Turkey is one of the most popular overseas property and second home destinations, being outside the eurozone is also very good value for money. Any financial crisis has two sides to the coin and the good news from the current economic situation is that you can land a real Turkish property bargain. Nonetheless, you need to undertake your own research and use our insider advice to make sure you buy a property which will increase in value over time. We explore what makes an "investment proof" buy in Turkey with some great tips.
Check out the well established areas in Turkey as these will tend to be less risky investments and should protect your money. During previous years it didn't matter too much if you opted for a less popular spot but this is no longer the case in a market which is no longer rising. Select a property in the best location, even if this means settling for something smaller than you might have hoped for.
This is the time to negotiate hard on the price. Don't pay over the odds. Again, do your research with other similar properties in the same area.
If you are looking at new build or off plan property, check out the quality of the build. Check the builders other work and get to see completed properties which he has already finished.
Even if you are not buying the property with the intention of selling fairly soon, you still need to consider potential resale. Think about who you might sell to and what would be the pluses of your property to those buyers. The majority of buyers don't want to be in an isolated place but will want facilities at hand. Some outside space is a must, even if it only a small terrace. They will also want good internet access.
If you are looking at somewhere on the coast, then whatever you buy really does need to have sea views and be as close to the beach as you can afford. All buyers love views wherever the property is located. Investing in a good view is worth every penny. This is particularly true for high price property. Keep well away from property which has some kind of 'horror' such as electricity pylons. Be careful if there is vacant land in front of your view - it may be built on later.
How far the property is from the airport will be important if you are buying a holiday home. There is nothing worse than a massive long trek after a flight. Then consider the access from the main road right up to the property itself. It might be lovely to be up a dirt track to a farmhouse high on a hill with great views but not so lovely to go up and down every day to get bread. Visit the property at different times of day to verify noise levels from roads and planes.
On older properties, take a good look at any renovation work which has been done and particularly if they required planning permission. Roof, electrics, insulation should all be checked. Where the renovation has been done sympathetically using traditional methods and materials, this will add value and future price.
Don't think too big. It is well known that properties over 300 sq.m. are less popular with most buyers. Many purchasers end up with homes in very large gardens and come to regret this later when they realise the amount of work involved in the upkeep. If it is to be a second home, look for manageable gardens.