January 30th, 2013 — Property
If you decide to convert your basement or your extra room as a rental property, you need to understand that with the perks also comes certain perils. Here are some things you need to know before taking the plunge of being a landlord:
Keep it legal
While you have all the free space at your home does not automatically allow you to get renters. There are cities that do not issue permits if you decide to have secondary suites. In case you build one without having a permit, authorities might issue fines and order you dismantle your rental property.
You also have to seek advice on zoning issues, building codes, and fire codes. As a property owner you need to abide by all the rules before you can accommodate renters.
Tax and other expenses
As a landlord, you need to issue receipts for the rent that you receive from your tenants. You are also required to declare it and pay the necessary taxes. Aside from taxes, you need to save some for the maintenance of the property including painting, cleaning, fixture upgrades, and appliance repairs.
The space you have might not be attractive to tenants
Sharing the same space as your tenants may present some problems for renters. You also need to be careful who you accept as renters. You want to preserve the privacy of your family so you might need more than an extra bathroom or a drywall. Do not spend so much on décor but focus on setting up the space so you would also find it appealing to live in.
You ust cannot kick them out
The laws may vary but it always ensure that one will not be forced out of a home that easily. Evicting your renters will not be that easy. Make sure you ask for a deposit so you are protected from risks.
It may not add to the value of your home
Having a rental property is not a guarantee that it will add to the value of your own home. If decide to sell your property, the new owners might not find any use for the extra kitchen or bathroom and may actually use them to pull the price of your house down.
November 23rd, 2012 — Alanya
When you tell people that you will retiring in Florida or maybe Spain, they will perfectly understand why you have chosen those places. But tell them you are planning to enjoy your retirement in Alanya, Turkey and chances are they will have that puzzled looks on their faces. When asked, you can tell them these:
A lot of foreigners have built a considerable real estate portfolio at their current cities so they can sell them up and head to Alanya, Turkey. The real estate properties in Alanya are still affordable. You can easily find villas or apartments that reasonably priced and located in ideal neighborhoods for seniors.
Attractive cost of living
There are weekly markets in Alanya where you can buy locally grown produce. You can find these markets even in the most expensive resorts. Even alcohol and cigarettes are cheaper in Alanya. Other household stuff like washing machines, curtains among others are also very affordable since they are being made in Turkey.
The price of water, electricity, and petrol are also cheaper. Eating out is also a lot cheaper compared to cooking your own food.
Very friendly people
The nation has a very mature political system and a society that really respects their elders. Old western retirees are also appreciated by their neighbors and are often befriended by everyone. When you move to Alanya, you do not have to worry about feeling isolated since the people are very warm.
Even during winter, the weather does not go beyond freezing. The summer days are also tolerable. Older people will enjoy the weather plus the cool breeze coming from the Mediterranean.
In short, you are making the right decision to retire in Alanya. Not everyone may know it but it is starting to be more popular for people looking to enjoy their retirement days.
September 20th, 2012 — Property, Real Estate
Timeshares have gained some bad reputation through the years. They promise a great place to stay during the peak of the holidays in the best destinations on your wish list. Add to that other promises that may sound to good to be true.
So if someone approaches you and tries to sell you their share of a certain property, your normal reaction might be to keep your distance. There are ways though how this resale can work for you:
When investors purchase a timeshare for a property , almost half of the price goes to the cost of marketing and the sales commission. So in short, the gifts promised by the sales people are actually paid for and passed on to the buyers.
When a timeshare goes on resale, you do not have to worry anymore about the commissions and other gifts so the tag price will be a lot lower. Remember though that it is also an investment that will not make any money.
Timeshares is your piece of paradise during the best times of the year when the travel destination can get pretty crowded. A lot of these properties are offered by big brands and this gives you a lot of flexibility since you can swap your slot within their portfolio of resorts.
It might not be common knowledge but financing can be available for buyers or sellers of timeshares. If a seller still owes something, the amount is deducted from the selling price. There are also companies which can keep the costs down for buyers.
The selling process of timeshares can be done privately without having to deal with the marketing ploys and gifts as originally offered It is still treated as a real property so you can still hire agents or brokers if needed.
When buying property abroad, getting home insurance can get very complicated. Make sure to contact the American embassy, as they will be able to assist you in getting in touch
with English-speaking insurance agents in Alanya!
June 19th, 2012 — Real Estate
If you are renovating your home, then you might also be worrying about missed deadlines and cost overruns. These are among the most common problems which stem from homeowners not being able to manage their contractors. Here are some tips on how you should deal with your contractors:
Be in their shoes
If you want the construction or renovation to be successful, you need to see the project from the perspective of a contractor. Put yourself into their shoes and understand what matters most to them. Contractors want to know that there is enough budget to do what you want and that you really want to do it. Talk to them about the cost and make sure that you got all bases covered.
You need to shop around for the best deal and the best contractor for your home renovation project. Of course, you also need a clear plan in mind what you really want to achieve. You need to tell the contractors everything so they can come up with a plan and quote you as accurate as possible.
Ask your potential contractors to breakdown the costs when they submit their bids. This way you can compare every piece of detail in terms of costing against the other bids. This will also help a lot in terms of the quality you can expect of the job. You can also scrutinize the prices of materials and see if you can get them for a lower price.
Ask for any other options or alternatives. The contractor might be able to suggest a more cost effective way of doing your project. Once they know your budget and they know it will work well with the project, a good contractor will try to help you shave off some costs.
March 9th, 2012 — Real Estate
Majority of people who are searching for a new home to purchase start their search on the internet. If you have not tried the web to put your home up for sale instead of traditional methods, then it is about time to try it so you can reach out to more potential buyers.
Aside from gadgets, antique stuff, and memorabilia of all sorts, you can also find good real estate buys on eBay.
The website has a category where you can checkout listings for real estate properties ranging from lands, timeshares, commercial properties, and residential homes. Everyday about 400,000 people view the site and a big chunk of these searches fall into real estate items.
You can find different kinds of homes from foreclosed ones even luxury homes with price tags you will wonder how it is a home to millions.
Unlike the auctions you know of, bidding on eBay is a lot different. First, it is not binding legally so neither the seller nor the buyer is totally committed to complete the transaction. The parties can workout the details of the purchase so it Is best that you also work with a real estate lawyer.
A safer way to go thru eBay is just to place your home on the classified ads where potential buyers cannot bid but just give it the exposure it needs.
Another popular option is to join home swapping programs . There are sites like DomuSwap.com and Pad4Pad.com which matches homeowners who want to put their home up for sale but they can also indicate where they want to move. The homeowners then are matched with other homeowners who might be open to swap homes.
November 18th, 2011 — Alanya, Beach Property
Alanya is part of the Antalya Province in Turkey. It is very popular for its beach resorts as it boasts of 70 kilometers of Mediterranean shoreline. If you are planning to buy a vacation house or an investment property, an Alanya property might be the perfect choice for you.
Let us tell you why Alanya real estate is a good investment:
Turkey as future member of the European Union
Turkey is in the process of being included in the European Union. The country is considered a candidate for inclusion and has started a long process of the membership. When it gets accepted, you can expect property prices to go up.
Real estate property boom
Alanya and other cities in Turkey are on the brink of experiencing a real estate boom. The demand is very high and Alanya is among the best locations to invest since the region attracts a lot of tourists in case you are looking to have it rented out.
if you invest in Alanya now, you will get the value for your money. The prices are still great compared to other markets. The opportunity is unique and all indicators to buy are there.
Golf tourism especially in the region of Antalya is booming. Alanya is in this region also and has a very long coastline where you can get beach front properties among other options. Yachting is also attracting a lot of tourists. More than 25 million travelers flock to Turkey every year and this is expected to grow bigger as Turkey gets more media exposure as it nears membership with the EU.
Turkey is an emerging market but one advantage that you can get is the modern infrastructure of the country which improves with the boom in economy, tourism, and other markets.
Capital Gains Tax
As an investor you might want to sell your investment property after around four years and you do not have to shoulder a capital gains tax, You will only be charged with the standard tax rate between 15% thru 35%.
October 3rd, 2008 — Beach Property, Property, Real Estate
Thinking about the best place to relax during the summer? Where else can you be at absolute ease and still be rest assured that your investment in real estate is giving you the best returns? What you need is to get yourself a villa on the beach. That way you not only invest your money in the best possible way but also get to have fun with your investment.
Live the posh life of movie stars and business tycoons by buying a lovely cottage by the beach and laze in style. If you were wondering how to start looking for the best deals in beach properties, look no longer, dial your cell phone and the professionals will do all the hard work and let you enjoy the spoils.
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September 1st, 2008 — Alanya
Alanya is a breathtaking city on the Turkish Rivieira — we’ve established that on this site. Anyway, I’ve picked a couple photos of the city I think look absolutely beautiful.
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July 31st, 2008 — Alanya, Mortgage, Property
Summer has arrived in Alanya and we’re getting loads of e-mail from people wanting to ask us very specific questions about mortgages for Alanya properties…
We’re no mortgage experts, but we do know nearby Antalya has quite a few trustable banks and institutions who will provide you with pretty good standard rates. If you speak Turkish or if you are willing to deposit some cash into an account in their bank too you might be able to get special rates, but I really do suggest bringing someone who speaks their language if you want to be sure…
More info on mortgages can be found on The Mortgage Site, an excellent resource!
April 25th, 2008 — Alanya, Real Estate
Real Estate Alanya will do its utter best to be a grade A home for people interested in Real Estate at the Turkish Rivieira…
Give us a couple weeks to get settled, we’ll make sure to keep this site up to date in the mean time!