A Complete time sensitive check list for successful investment in
North Cyprus
The world investors are already in their “high-pressure phase”, with
buying Real Estate in countries that are about to join the EU. The
benefits from what seems like “guaranteed huge speculative profits”
are becoming Europe’s most HOT investment plan.
Cyprus in addition to it’s
expected EU join,
has caught the eyes of professional & first time investors that want
to maximize profits, with the additional price rise as to the
expected unity between the Turkish and Greek sides.
As much it all sounds promising for the inexperienced investor, a
complete checklist is a must for a successful Time-Sensitive
investment in Cyprus:
1. Location Location Location – Cyprus in general is a blend of
modern society in a spectacular sunny location. Choosing property
close to the Beach, Transportation, landscapes will gain more value
in the future.
2. Variety - Make sure the property itself has a variety of
possibilities to suit your needs, such as a choice of finishes to
make your villa individual, or maybe buying just the land with an
option of high quality construction.
3. Flexible Payment Terms – Why not buy with a very low down payment
offered by the project management company? This will make sure that
your dreams will not be out of reach.
4. Reliable Seller - Make sure you buy from a management company
that is at least a decade in the real estate business this way you
will also profit from the insights of experienced investors. Try to
not buy from the internet sellers.
5. Rental Option - Find real estate property where you can easily
rent out while you are not there. This service can be found with a
management companies and will save you time, money and efforts in
the future.
6. Time Factor – Timing is everything. While prices are still very
low, you must remember that they will not remain low after May 2004.
7. Transportation – Having an airport nearby the property, would
make it a not only a better investment but more convenient for you
to get there.
8. Insurance – I am an enthusiastic of insurance policies, insure
your house! If you are buying with a mortgage insure your mortgage.
“Private mortgage insurance”, is the default insurance on
conventional loans and is very important if you are taking a loan.
It will cover the lender in case of a foreclosure of the loan.
9. Taxes – Every country has different tax laws of buying real
estate overseas. Learning your countries tax laws with regards of
buying real estate overseas can easily be provided to you via your
selling agent.
10. House interior finishing – You would want your villa to benefit
from a nice finishing to it. Things to check are: who is the
interior designer? Can you select your kitchen units? Does the house
come with “white goods” such as fridge /freezer/ washing machine/
cooker?
