An increasing number of people are looking for villas for sale in Turkey. It is not difficult to see why. Not only is the economy thriving in the country, but also house prices will continue to rise, and rental yields are high. Nevertheless, if you want your purchase to be a success, you will need to avoid the costly mistakes mentioned below.
- Failing to acquire expert assistance – There is only one place to begin, and this is with attempting to do everything on your own. You are advised to look for a company that specialises in property for sale in Turkey, and they will assist you every step of the way. The laws differ in Turkey, and there are other things you may need to contend with, which is why you need someone who knows the property market in Turkey like the back of their hand.
- Forgetting about exchange rates – Quite frankly, exchange rates can be extremely annoying. You always end up losing out on a portion of money. If you receive all of your income in sterling, and all of your investments and accounts are in this currency, you will be subject to the fluctuating exchange rates if you purchase your property in Lira. It is wise to speak to a currency specialist who can advise you on offsetting the risk of negative fluctuations.
- Failing to research the area – When buying a property in Turkey, you are buying more than the villa itself. You are buying into the area. You want to make sure it has everything you are looking for. Moreover, if you are purchasing for the purpose of investment, ensure the area attracts a high number of people looking to rent and that the yields are high.
- Miscalculating money flow – Finally, a lot of people are guilty of miscalculating money flow when looking for villas for sale in Turkey. You need to make sure you have enough cash to cover everything from advertising costs and insurance to mortgage and taxes, and you will need sufficient cash flow for any maintenance.