Should I rent or buy my second home in Alanya?

If you want to live in Alanya, whether during vacations or permanently, the next step for you is to decide if you are going to rent or buy your second home. The price of a house is determined by the location to a great extend. If you have a small budget for your second home, you can distinguish what you can afford starting from the location you would like to live. Real estate, whether it is rental or for sale, can differ in pricing depending on the location you would like to reside. Some areas of Alanya are cheaper and some, like the centre of Alanya and Oba, can be a little bit more pricey.

Other factors that influence the price of a property in Alanya, are the precence of a pool and other facilities. Hamams, saunas, indoor and outdoor pools, 24h security, markets, cinemas, lobbys, cafes and various facilities for children: it all effects the price of your property. The prices of new built apartments or villas and existing ones also differ. Would you prefer to buy a new built object? Then an off-plan property may be the solution if your budget is tight: The prices of property under construction are lower than after completion.

It can be a tough decision whether you should use a little bit more money to buy a home that can easily be sold later on, or stick with your budget and possibly rent. Luckily, our Home Catcher consultants can help you with this.

The pros and cons of renting and buying

Both buying and renting property in Alanya have their pros and cons, but it really comes down to what you can afford. We listed some points of consideration below:

Why should I buy property?

Buying property is a good investment, as real estate can appreciate in value every year. Of course, buying in a popular location increases the chances your property will add in value. If you decide to move out, you can use the property as an investment and generate extra income from it. Another reason to buy instead of renting, is the fact that you own the property. On the long term, you will probably save more money by owning an apartment or villa than by renting it.

…and what are the cons?

Aside from the property price, there are additional costs such as taxes, insurance and so on that have to be paid upfront. Owning a property also brings along maintenance costs: along with things that might have to be fixed or replaced inside the home after years, the monthly fee of the complex to maintain the facilities and pay the staff also has to be paid.

Why should I rent property?

Especially if you are not sure if you want to live in a certain area within Alanya and you want to try out living there, or if you even don’t know if you will stay in Turkey, renting is a great way to get to know the neighborhood. Renting a property is often less of a responsibility in terms of expences: as a tenant you won’t have to worry about unexpected expenses. And the expences aren’t the only responsibilities you won’t have: maintanance like painting, reparinging and changing interior are also for the account of the owner.

…and what are the cons?

On the other side, renting property in Alanya is not permanent, which makes it harder to settle down. On the long term, renting can be more costly and real estate prices can increase every year, which means the rent price will also go higher. And if you have a pet, renting an apartment might not be the right choice because in many complexes in Alanya pets are not allowed.

Are you looking for property for rent or for sale in Alanya? Have a look at our online database, or contact our agents for more information. As rentals are often rented out quickly, not all our objects can be found at the website. Contact us for more information, so we can help you find your second home in Alanya.