With good infrastructure, escalating property prices and a lucrative holiday rental market, buying a vacation home in Cyprus is a good proposition. If you are considering purchasing a Cyprus vacation home it is advisable to go through a registered agent who will make the whole process a stress-free one.
What to consider before buying a Cyprus Vacation Home
Spend some time thinking about exactly what it is you are looking for in your holiday home even before you hire an agent. Giving your agent a detailed description of your requirements will help the agent discount those properties that do not meet your requirements and increase your chances of finding a perfect holiday home that you will not regret buying. Consider the size of the house that you will require as well as the frequency with which you are likely to use it, the potential for renting it out when you are not using it as well as the long term investment prospects. If you are likely to be traveling to Cyprus frequently, you also need to take into consideration the distance from the airport. While beachfront, landed properties are far more popular than high-rise apartments that are inland, you may have other priorities. So be sure to let your agent know.
When allocating your budget for a vacation home in Cyprus you need to add about 10% over and above the purchase price to cover other incidental fees including VAT and Transfer of Title as well as the agent's fees. Ascertain all these in advance so you are not caught unawares.
The steps involved in buying a Cyprus Vacation Home
If you wish to reserve a vacation house that you've seen and liked, you would be required to pay a reservation deposit. This reservation deposit guarantees that the house will be reserved for you until the formalities are completed and will not be shown to anybody else. The purchase price of the vacation home is fixed at the time of paying the reservation deposit and any future property market fluctuations will not affect your purchase price. However, you need to remember that the reservation deposit is non-refundable except in cases where the seller is perhaps awaiting planning permission certification and it is taking longer than expected.
Non-residents who wish to purchase property in North Cyprus are required to open a North Cyprus bank account, which will facilitate the stage payments to the developer as well as the payments of utility bills if buying a resale property.
Vacation Home In Mexico
People who choose to stay full time can have numerous reasons for doing so. They could be Disney employees thus enjoying the luxury of a very short journey time to work, since the majority of vacation rental villas are very well situated to access Walt Disney World and all it has to offer. Some residents own vacation homes in and around where they stay and they like to be close at hand to keep an eye on their property and look after their guests themselves. Others may have some kind of occupation related in some way to the hospitality/vacation industry. Then again you may just find some friendly folks who like the idea of having new and different neighbours every few weeks!
Having full time residents nearby can be a great thing. They very much enjoy visitors to their area and those who settle there full-time are well used to new neighbours every one or two weeks and are very friendly and keen to learn you are enjoying your stay and having a fabulous vacation.
Just generally walking about the resort your vacation villa is in, you are bound to pass some local residents who are always ready to greet you with a smile and genuinely wish you a “nice day". If you have questions about the local area or attractions, I am sure you will find them only too happy to help.
That said, since these people are resident full time, one should always be remember to be courteous to them whilst still making the most of your vacation.
Local residents need their sleep too!
Generally there are safety and courtesy rules in all residential areas for “quiet times" at the pool. As a rule of thumb these tend to be 11pm-7am. One of the most tempting times to forget about these rules is for those visitors who have travelled from far away (e.g. U.K.) and need to make huge adjustments to time changes and body clocks. On the first morning of these guests’ vacation, they will tend to waken very early and it is strongly advised to resist the urge to come straight down to the pool until it reaches what everyone would agree is a slightly more reasonable time.
Stay in a resort based vacation home…
You will find a great many of Orlando vacation villas have been built in resorts that offer communal areas. These can include any combination of the following: a communal swimming pool (in addition to your very own private pool at your holiday villa); a games room; a fitness room; a shop; a café; basketball/volleyball courts; tennis courts; childrens play areas. Any of these areas offer the ideal opportunity to meet people from all over the world- both full time residents and other holidaymakers like you.
Showing your neighbours common courtesies will encourage them to extend a warm welcome when you return for another vacation at a later date and then your villa experience really will be like a “home from home" since you already know the neighbours!
Both Adrian Adams & Peter Kenny are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.