Before buying a vacation home in Cyprus, you will need to know a few important tips. The first place to start looking for a vacation home is with a real estate agent or a realtor. If you are not familiar with the area and the housing market in Cyprus, an agent will help you to understand the market, the steps needed to take for actively looking for a home, what is required for financing and property ownership.
When you are buying a home in Cyprus, keep in mind that you are only allowed to own one property on the island. The next thing to consider is the length of time it takes to complete the transfer of the title deed into your name. It can take as long as four or five years to complete the transfer of the title. The real estate agent that you work with should have years of experience selling homes in Cyprus in order to stay on top of the paperwork.
The next thing to consider is how you will take care of the home when you are not on the island. You will need a caretaker or someone who will actively care for the exterior of the home. You may consider renting the home out when you are not there or maybe a timeshare would work better. These are all considerations you should discuss with an agent that you trust completely.
After you have answers to all your questions and are ready to look for a vacation home, you can tell your agent what you are looking for and your price range. This can all be done over the phone until the agent finds you some homes to view. You can then travel to Cyprus to view the homes and decide if any of them are right for you. You will also need to know any specifics about the location of the home as well as the previous owners name in case you have questions about the inspection of the home.
Once you find a home, the next step is obtaining the financing and securing the title for the home. This is where the real estate agent needs to be completely honest with you. You want the title as soon as possible, therefore, choose an agent that has the resources to speed up the process. After you receive the title deed, you can then say you are the proud owner of a vacation home in Cyprus.
