Monday, October 3, 2016

Essential checklist before investing in a holiday home in Turkey


Investing in a holiday home in a Turkey is simultaneously both an terrifying and amazing experience.

Terrifying since you do not now local customs, rules and regulations and therefore are operating in unknown territory.

Amazing since you are about to purchase the holiday home of your dreams, a place where you and your family will spend many happy hours.

But before finalizing the deal and signing the contract there are several areas which are worth paying attention to.


Spending some time investigating before taking the final decision can save you both time, a lot of trouble and of course your hard earned money.

By this we do not mean finding yourself an respectable and licensed estate agent who speak your language and can offer you a secure financial deal.
This is of course still an absolute “must”.

But after finding your dream property and having received and reviewed the first initial information it is always a good idea to take a closer look at some key information.

Owners union

Ask for summaries from the last couple of meetings. Are there issues related to the finances and are all owners paying their monthly fees?

Composition of owners

From where do the owners come and do they use their apartments as a holiday home or all-year residence? One is not to be prefered to the other, but it might be important for the way you plan to use your apartment.

Daily maintenance

How does the daily maintenance of pool, elevator and common area work? Does the caretaker live in the building or is he only visiting a few times per week? Does that satisfy your expectations?

Elevators

Do these have all needed permissions?

Pool

Which periods is the pool open? Some complexes choose to open the pool only for a few month. Does that fit into your needs and periods where you plan to use the apartment?

Planned future expenses

Are there already now plans for paint work or other renovations in the complex?

Not to forget

Do not forget that you still need to control the judicial status of the apartment including title deed, the hand over process, habitation certificate (ferdi iskan) as well as having detailed and thorough purchase contract from a licensed estate agent.

Should you have any questions please do not hesitate to contact us.