“We’re not tourists anymore – we live here!” It’s the first thing we all say when we move to Cyprus, determined to live like a local and take advantage of the lower living costs. So what does that mean in practical terms? For a start it means shopping like a local. Here’s what you need to know about shopping in Cyprus.
As soon as you walk through the door you may know in your heart that this is your dream home. But, just pause a minute and take off those rose-tinted glasses. Consider its condition and the cost of bringing it up to standard. Could you do it? What will it cost? How do you get a building survey in Italy? You find a Geometra.
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.
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