subject: Should You Buy Old Or New Villas In Cyprus? [print this page] If you are considering owning a place in the sun on this lovely island you will need to make the decision of whether you want to invest in one of the new villas in Cyprus or purchase an older property. There are many brand new resort developments being constructed on the island where you can purchase a freshly built property, and there are also many older homes around the countryside of Cyprus that could be transformed into gorgeous homes with a bit of work and attention. There are advantages and disadvantages to both options, and the choice will depend on what you are looking for from your holiday home.
Here are a few of the advantages of both old and new villas in Cyprus:
Advantages of a New Property
There are many advantages to buying newly built villas in Cyprus. Most recently constructed buildings will offer the buyer a 10 year building guarantee on the structure, and any property maintenance will be covered by this guarantee. You will not have to invest your time and money into renovating or fixing up the property.
Another reason is the increased security, as most new villas in Cyprus will be built on a gated complex with a secure entrance. When living in a gated complex you will have the opportunity to socialize with your neighbours and make new friends. Newer properties are also easier to resell and rent, if you are considering renting out your holiday home when you are not using it.
Advantages of an Old Property
There are also advantages to buying older villas in Cyprus. An old property will have a lot more historic beautiful and character than a new one, and will be set within a gorgeous rural location. You will be living a more peaceful and traditional lifestyle and this appeals to a lot of people. The property will offer a lot more land, and so allows the chance for more outbuildings and extensions.
When you purchase an old home in Cyprus you have the opportunity to renovate and restore it to exactly how you want it to be. Rather than buying off-plan, you will be able to see exactly what you are buying and learn about the history of the building. Another factor is that usually when you are moving into a pre-owned home the furniture, fittings and fixtures will be included in the sale price of the home.
Also, older homes are usually a lot cheaper than brand new villas in Cyprus even when you factor in renovations and repairs.
The choice of whether to invest in an old home or a new home will depend on what your needs are and your particular lifestyle. Whether you choose to look for old or new villas in Cyprus, good luck finding the holiday home of your dreams!
What are the advantages of owning old villas in Cyprus versus buying a brand new home?
by: James P Martin
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