Now that you have decided to purchase a property in Northern Cyprus, there is much to learn. Over the past 12 years selling during the property Boom here in Cyprus, we have compiled some details to help you through the buying process.
1) Choose your location
First and foremost, it is important to choose a location prior to your property search, to save you time and money. As there are hundreds of properties in several areas, this is the first step in narrowing down your search. To choose the right location, ask yourself these questions:
Am I purchasing a holiday home, permanent residence or buy-to-let property?
This is important question to ask. If you plan to relocate here, and you have lifestyle needs including schooling for children, or work for yourself, C&C will guide you to the locations which have private English schools, for instance, or access to the business centers, etc.
Likewise, if you are choosing an investment property, C&C will advise you in identifying your key client and investment type property – whether you will target university student rentals or holiday maker rentals, short or long term rental, and advise you accordingly.
Finally, go to our Prime Locations link to learn more about the main locations to purchase property in North Cyprus and what each has to offer.
Do I want a rural, city center, beachfront of mountainside home?
You have determined this home is for your personal use, whether holiday home or permanent residence, so now take a look at your lifestyle and interests. Where do you want to spend your time? Are you a sun worshipper and desire to be as close to the beach as possible? Do you want to be able to walk to the beach? Are the glorious mountain ranges for you? Or, do you wish to be as close to Casinos, clubs and nightlife of a busy city center?
2) Define your Budget
What is my budget and available down payment?
It is important to explain your budget realistically to your agent. This way we can focus on finding a property you will be 100% comfortable with purchasing. Furthermore, different properties have different payment plans and possibly mortgage options. Telling your agent how much many you can realistically put down as a down-payment will help in guiding you to options that suit your financial needs, as well as negotiating in your best interest.
3) Determine the type of property you would like to buy
Do I want to purchase a villa, apartment, penthouse, ground floor, semi-detached property?
How many bedrooms to I require? Are there any other details I require which my Agent should know about? Providing your agent with as much details as possible about your property requirements is key to finding you the right option quickly.
4) Determining your timeframes – Yours and the Market’s!
What is my timeframe for buying and moving in?
The answer to this question will determine if off plan or under construction property may right for you. There are many advantages to these types of properties including lower price points and long term payment plans. Furthermore, buying off plan or under construction allows you to define your space with your own style. Often times you may choose the materials and colors for your fittings, including flooring, kitchen worktops and wardrobes according to your tastes.
Furthermore, the agent will be responsible to match your timeframe with the markets. Are you after a property in a fast –selling new development but don’t plan to buy within the next 3 months? Perhaps you should put your search on hold. In the North Cyprus property market, as it is the Mediterranean newest and least expensive property hot spot, the market moves quickly! Be ready to act so you don’t miss out on the property of your dreams, or a killer investment.
Your Personalized Portfolio
Coast & Country Homes has a vast portfolio which can be viewed in Properties, however please understand that new properties come to the market all the time. Contact Us with your requirements stated in the Comments section, and we will inform you as new properties come to the market in your specific needs.