Everyone loves a bargain and so many believe that there is a bargain apartment out there which satisfies their long wish list (sea view, close to beach and shops, quiet but popular end of town) and comes in at under €40,000 including furniture, white goods, fly screens, air-condition units etc, etc.)
Here are some 3 TIPS for you and QUESTIONS to ask yourself when looking for your dream cheap property in Turkey.
- COMPARE LIKE WITH LIKE Often when constructors say ‘apartments from €40,000′ there are only a very small few apartments in the complex at this price, maybe they have a poor view, north facing perhaps or just the smallest studio’s within the complex are priced at that price. Make sure you are comparing like with like. If you are sure you want a 1 bedroom or a 2 bedroom apartment then another constructor may not have studios to offer and so his price range starts at €49,000. It may appear the company is more expensive on the billboard when in fact they could be very competitive or even cheaper.
- FIND OUT WHAT IS INCLUDED IN YOUR €40,000 You find your dream cheap apartment at a price below €40,000 – OK you say its small but it is important that I buy as cheap as possible as its only a holiday home. A very sensible approach but have you checked throughly what is included. There are certain things you must have and often slightly more expensive apartments offer an all inclusive package with furniture, white goods, legals, iskan and abonement costs which can mount up to an additional €5000 – €10,000. Now when you see a much larger 2 bedroom apartment for sale for €50,000 which has everything included in the price then you add in all the extra costs to your cheap apartment – you could have possible spent the same price and had a much better apartment. So do your homework or make sure you are with an agent who does your homework for you
- CHECK IT WILL BE EASY TO SELL YOUR APARTMENT If you have made many compromises to get cheap – what if you want to sell later on – will someone else be prepared to buy an apartment with no light, or no privacy, or away from local shops and bus routes. If ever you need to release the cash invested in that apartment you need to see it through other peoples eyes and know for sure that its a winner not just for you but for anyone who eventually buys from you. Some construction companies offer a trade in / buy back scheme – that kind of commitment is worth its weight in gold as it gives you so many more options as you meet life fortunes and challenges
- IF SOMETHING IS TOO GOOD TO BE TRUE IT USUALLY IS We never want to pour cold water on anyone’s excitement but with the recent rise in workers wages, insurance and building costs it would be very hard to see how new apartments could be built with all singing and all dancing facilities for under €40,000 and the offer of all inclusive furniture and white goods packages. When I see something that sounds too good to be true my mind starts working overtime. Where have they cut costs? They must cut costs to be able to sell so cheaply? At best they have managed to buy goods in bulk and made huge savings which they have passed on to their clients – at worst there are savings made in the unseen parts of the build. Those are the compromises no-one should make as it could cost you highly in the long run. We have also seen some very cheap apartments snapped up by happy owners only to find the land was not legally purchased or building permission and regulations have been skilled on. So remember check, check and double check or only deal with a company that is HIGHLY RECOMMENDED and has a large number of finished older developments which you can view. Has the paintwork lasted, are the shared resources well maintained and standing up to usage.
CONSIDER A RE-SALE APARTMENT If you are on a really tight budget and you have only limited resources then you should consider a re-sale . When you are buying from someone that already invested in the area several years previously there are many benefits. They would have bought their apartments at a much cheaper price and maybe can afford to sell a little cheaper than the new apartments. Their electric and water supply costs have been paid and they usually sell with all the furniture, white good and household items included. There are no hidden extra costs and what you see is what you get. Re-Sale apartments tend to be more spacious too as land and building costs have increased significantly in the last two years. Of course you should still do your research but its an option that you should consider. People sell for many reasons but usually they sell to buy another larger or smaller apartment. Its a great marketplace for secondhand apartments at the moment.
CONSIDER BUYING OFF PLANYou can get great deals if you buy your apartment as a project and before the building work commences. The first clients in a new build can usually secure a very good deal. We cover off plan buying on our post – follow this link. 3 TIPS FOR BUYING OFF PLAN
There are many good construction companies in THE MAHMUTLAR area but at Dream Villas in Turkey we only recommend a small few. Not because the others are not good – but because we can be sure our friends will be well looked after if they stick with the ones we have known well over many years and have actually invested ourselves and put our money where our mouth is’ It may cost you a little more now – but peace of mind is priceless.VISIT OUR WEBSITEFIND US ON FACEBOOK
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