Imagine swapping a dreary, overcast British winter for the sunny skies of Cyprus. That’s what hundreds of Britons who own a holiday home in Cyprus do every year – and then they make a good return letting it out over summer. And, Cyprus’ ‘golden visa’ scheme means you could even guarantee yourself EU residency after Brexit. So, how does it all work?
If you’re dreaming of life in Greece, but don’t want to leave the UK full-time, a winter holiday home could be just the ticket. You could spend winter soaking up the Greek sun, then make a tidy profit letting it to holiday-makers in summer. Plus, you could even get EU residency by buying a Greek holiday home above €250,000 – so what are you waiting for?
If you’d like to buy a property abroad but don’t quite have the cash, could you release funds from your UK property? Many homeowners aged over 55 have the option of using the equity built up in their property, tax-free, as cash without selling up or downsizing.
Satisfied you’ve done all your sums before calling the estate agent? To be doubly sure, read our list of typical costs that come with property ownership, some of which often get overlooked. Maybe not all these costs of buying abroad will affect you, but checking now could save you the disapppointment of withdrawing an offer if you can’t afford to complete.
The Costa de Almería’s 135 miles of Mediterranean coast and warm climate – 20ºC isn’t unusual in winter – make it a great place to move to. The sunny weather lends itself to an active lifestyle: golf, tennis, sailing and windsurfing are all popular. Plus, for the price of a flat in parts of the UK, you could be in a villa with a pool!
I want to live in Spain – just not all year! There’s nothing wrong with wanting the best of both worlds, and if that means enjoying a British summer and a Spanish winter, why not? Moreover, limiting your time in Spain to winter means you can rent it out all summer for a healthy profit. Sounds tempting doesn’t it?
