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Old 30th January 2008, 13:14   #1 (permalink)
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Buying Property Advice

The following information is offered as free advice please feel free to use or not at your own risk/choice.

All the information contained within has been given by myself and others and to the best of my knowledge is accurate at the time of publishing, additional information will be added as it becomes available.

I have owned my House for nearly 4 years we paid a good price by doing research and looking at a lot of houses the value of our property has risen considerably since the purchase with only a small investment, we have also had a few ups and downs and I am posting to help others

So you have decided to buy a property in Kusadasi Turkey, congratulations an excellent choice.

Step 1: research and research again try and get in contact with others who have made this move.

Step 2: Decisions

a: do we want beach front
b: do we want town centre (centrum)
c: do we want out of town (ladies beach, green beach, long beach, devutler etc.)

d: do we want a second home
e: do we want investment
f: do we want a new permanent home
g: do we want a holiday home to let out.

Information to help make the best decision for you
beach front low level house/villas almost always have damp in the walls this is obvious when you see property with wall cladding stones etc from the floor up for about 3 feet, even if the property you are looking at has not got cladding look at others around to see what they have done, this can also apply to town centre and property on hills etc.

Are you happy to ride the local bus and taxi service if so out of town is no problem as the bus service is very good and cheap.

Out of town areas i.e. local villages etc. are normally cheaper to own and maintain,
Centrum is very good in parts but in summer it will be noisy and dusty, there area areas 5 -10 mins walk from Centrum that are quite and very good but tend to be more expensive due to the location.

Ask about local markets Tuesday, Wednesday and Friday there are street markets if you live on one of the streets near or used it will be noisy and parking and access to your home might be difficult or impossible except by foot.

Investment or not: i personally do not know of anyone who is making money letting out their home as a holiday let, i know of a lot of people who have made a sound investment and their property has increased in value by over 200% in 3 years so if you need extra income to support your purchase be very carful as it might not be available yet.

The reason for property price increase is varied and as complex to understand as in any country. However the main driving force is supply and demand, in recent years demand has been greater than supply, will that be sustained?, short to medium term Yes because in the last year Turkish banks have started to offer mortgages to Turkish people this will drive up prices as quality homes are in demand by locals and others like you and me.

Try to decide what you want before you start looking with the intention to purchase as this will help you and your Emlak find the right properties to view!

Choosing and Emlak (estate agent)
You have a choice of about 4-500 i would suggest you ask for personal recommendations from this site or people who have already purchased property in Kusadasi.
I know of maybe a handful that i would recommend, but most important do not deal with waiters, street traders or others as they will take you to an Emlak and expect the Emlak to pay them commission of about 500-1000 euros and who will pay this you will it will be added to the price of any property you purchase, if they say they have and uncle, cousin, brother or sister who wants to sell there house the price will be inflated by as much as 50% because they think wester Europeans are very rich and a soft touch.

Having chosen your Emlak and looked at houses donít be afraid to walk away and find another if they are not showing you the right type of house you have asked for, most will want you to purchase that day or in a few days donít be rushed take your time and look around,

Go to an Emlak tell them what you want and book a day to go and see the properties, take a digital camera and take photos to look at later. I would personally do this with 3 recommended Emlaks as some will have the same properties but price may vary by as much as 20%.

Questions to ask

Is the property a cooperative or free hold (tapu)
What are the service charges? Average is about 50ytl per month (cooperative)
What are the security provisions? Should be 24hour 7 days a week included in the above.
Is the electric Private or Municipal? Private will cost more
Is the water a well serving the site or Municipal? A well will cost much less
If you have a see view ask but expect it to be built on so you may not have it in a few years.
Will the owner take an offer? Everything is negotiable so if they say no push for a discount
What is included in price? i.e. furniture, water heating, sola panels, fitted kitchen, air conditioning etc and get it listed in any contract.
Who has title deeds (tapu) to the house? If more than one person it could be a problem ask to meet all parties if you want to make an offer do this before you hand over any money make sure they all sign before you hand over the deposit.
How old is the central heating and plumbing? Most properties over 3 years old will have steel pipes for plumbing etc laid in the concrete floors and walls and will only have a life of 7-10 years major work required to change but labour is cheap so cost will not be to much you just need to know what you are getting in to.
What are the approximate insurance costs?
Government property tax how much and when?
Municipality tax how much and when?
This list is not exhaustive if I have missed anything please pm me and i will add it!

The Emlak will tell you that you need to act quick as property is in high demand, yes it is but you can still take a few days to make up your mind, donít put any deposit down till you have looked at all the houses you want to.

The Emlak will tell you that a Solicitor is not required and is right,
They will offer to do this for you and yes they can but remember the average wage is about 5k per year and if you give them 70k how long could they live on that if they decided to do a runner.
Ask for a Solicitor who speaks a language you understand fully
Ask for all documents to be translated before you sign them.
Tell your solicitor not to hand over any money until the documents are signed.
If buying off plan make arrangements for payments so that you can visit before last payment and check you are happy with work and standard of finish,
Get dates for completion of street lights, pool etc put in the purchase contract and the full cost of any items if not included in the sale price, one problem i have knowledge of is one cooperative has not sold all the houses and some residents are refusing to pay towards pool and street lights so they have tried to charge residents that will pay about twice the quoted price for these items they did have a contract so they donít need to pay the extra but some do not so will have to pay the extra.
If the pool etc. are included in the purchase price get it itemised then if its not built you can claim this amount back from the developer.
Remember you have to ask most will not volunteer the information about costs and contracts.

After Purchase

This is when you will really know if you have a good Emlak.

Furnishing your property
Kusadasi is expensive for furnishings etc because there are a lot of people purchasing furniture.
Example: one rug 3m x 2m in Kusadasi cost £130.00 or 300ytl
same rug purchased in Soke cost £65 or 150ytl.
Example: two one water heater/cooler in Kusadasi cost £80 or 190ytl
same water heater in Izmir cost £61 or 145ytl
Lots more examples but this is going on a bit, Items purchased in Soke can normally be delivered free of charge.
A good Emlak should be able to help you with your purchases by spending a day or two taking you around different suppliers and translating for you, caution should be taken here because some will only take you to places that will give them a kick back after you have paid for your goods, try and shop were prices of goods are displayed so you have a starting point

Building work
If this is required your Emlak will know someone who can do it but talk to other ex-pats or post here and get at least 2 quotes, some quality builders have showrooms just outside the Centrum area walk in and talk to them ask for quotes.
When you have price agreed get it all in a contract so you know what you are getting for your money.
Agree start dates and finish dates donít pay up front a good builder will not ask for all the money up front, depending on the type of work they may ask for some up front i.e. if they have to purchase a lot of equipment i.e. air conditioning etc.

If you have a garden and need maintenance ask you Emlak they should be able to sort this and also ask to see some of the gardens the gardener looks after at present,

If this is being done for you follow advice in building work

Security is a problem in quiet areas even if you fit shutters and or grills to all your windows and doors, ď in a recent case i know of personally the low life smashed a hole through a first floor wall of a villa to gain access and then stole everything electrical even hair curlersĒ the best security is to make sure you have 24hour site security and neighbours that live there all year round, fit good locks to all windows and doors, donít leave keys in your house, fit grills or shutters to all windows and doors even high ones, concrete a safe into the house or insurance will refuse to payout for any valuables stolen.

Scary stuff! Not really you just need to be aware of potential problems a small criminal element operates in all countries just make your house as safe as is practical.

This is only a start and i would like additions from others as we all have different experiences of Builders, Emlaks and Solicitors, if the above helps one person it will be worth the time spent.

power of notary, when you give your solicitor power of Attorney make sure it is only the power to buy property on your behalf, if they have the power to sell property for you you could end up with them selling your house to anyone for any amount of money

just came to me I should mention exchange rate GBP - YTL - Euro buy picking the right one to Negociate your purchase in could save you a considerable amount of money, you will need to look at the 3 rates above and work out the one that gives you the best price. last year the £ to YTL was at about 2.5ytl to £1 now the exchange rate is about 2.35ytl to £1 on a 50 K house you could save up to 7000ytl this will also apply to the time of year you purchase the YTL is strong at the moment but normally drops back in the hight of summer, you can live for six months or more on 7000 ytl in Turkey.
"IF you cant do someone a favour then do nowt"

Last edited by kevkj; 30th January 2008 at 13:17..
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Old 30th January 2008, 15:06   #2 (permalink)
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Re: Buying Property Advice

very good info ,i have printed that in case anyone asks for advice on buying.
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Old 30th January 2008, 16:25   #3 (permalink)
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Re: Buying Property Advice

thank you for all the info i will pass this on to my friend who is buying in altinkum in april it will be realy helpfull to them i just wish we had this info when we bought last august
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Old 2nd February 2008, 10:03   #4 (permalink)
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Re: Buying Property Advice

some good stuff there.

The follow on is owning the property. It is important to understand the ongoing cost of ownership before you start. Site fees, property tax, water rates and electricity all need to be paid.

You may want to think about a property management sevice - either from the emlak or one of the independant property companies. The key is to make sure that they do what they have undertaken to do in terms of regular checks and reports. They can also help with a pre-visit clean and can act as keyholders if you decide to rent the place out

Finally - the aim of buying abroad was for the pleasure it would give - so enjoy your visits and get to know your neighbours

Back with a vengeance!
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