3 Things to Know Before Buying a Vacation Home
The process of buying a house is never easy – maybe it is exciting, but it is never an easy trick. And if that is true for common properties, how much more it applies to vacation homes, the places we buy to become our haven, our base camp for your family’s adventure’s, our ivory tower for the time we decide to retire. Cyprus is considered a prime vacation destination and its real estate market is most favorable for persons seeking a nice and cozy place for their summer escapes.
Since you already think about buying a vacation home in this beautiful island, check the following list: we have gathered all the things you must know before purchasing your vacation home:
1. Visit the Place & Spend Some Time There
That is the most important rule a would-be property buyer should never forget: go there, check the place out – not the property, the area around the property. Visit it, if possible, at different times of the year, especially during the summer. It sounds elementary, but you would be surprised if you knew how many people fail to do it. Remember that acquiring a vacation house near the sea is great, but it also kind of limits your options regarding your place of stay. So, make sure the surroundings meet your criteria of an earthly paradise.
A sector that usually requires your attention is the general level of safety in the area. On the other hand, if Cyprus has already won your heart, you will be happy to know that is ranks among the 10 safest countries in the world.
2. Carefully Consider All the Costs
It is imperative to have an accurate average estimate of the overall costs of owning a seaside house. Such costs include:
- property taxes,
- proper insurance,
- maintenance and utility costs, for water, energy, electricity, waste removal, landscaping, possible security services, etc.
Make sure you have got all these areas covered, for it would be a shame to buy the vacation heaven of your dreams and later discover that you simply cannot keep it for long!
3. Find a Reliable Person to Keep an Eye Out for You
Since we are talking about vacation houses, you should not forget that you will be far away from it for a considerable amount of time throughout the year, and you need someone you can trust to watch and take care of it while you are gone.
There is a number of ways you can deal with this issue. You could rent it, for instance – which only works if you plan to stay in the house in fixed dates during the summer –, but is hard to find trustworthy people that will rent and take care of your property and still be willing to move every summer for a couple of months. On the other hand, if you can find a way to make it work, you will kill two birds with one stone: reducing the cost of maintaining the house (even increasing your income) and having the property taken care of during your absence.
The most reliable and by far most advantageous option is to assign the whole matter to a property manager that will make sure your house is safe and sound during your absence. In this case, of course, you should also take into account the extra cost, seen against though the possible damage caused by burglars, the forces of nature or periodic abandonment.
Both these options, though, require experience of the local market and estate management proficiency. Sweet Home Estates can and undertake this vital role on your behalf. This way you also avoid the hassle and bustle of repairs and cleaning that usually has to be done during the first days of your vacation and can enjoy your break to the full.
A Piece of Advice…
Cyprus is a wonderful island, and you won’t find it difficult to spot many properties meeting your needs and fancies at excellent prices, both inland and near the sea. We, at Sweet Home Estates recommend you to opt for the last. Buying a vacation home in one of the most beautiful islands in the world that is away from shore seems like a gross paradox, don’t you think? Without ruling out other areas of the island, we suggest you take a closer look in the Protaras and Ayia Napa region. Should you need some proposals, do contact us.