When people think of getting a holiday home they instantly dismiss the idea due to high property prices and interest rates. However, more people are finding ways of making their holiday home pay its way and even make them a nice little profit. A recent popular choice is Cyprus villas and it’s not hard to see why when the country has so much to offer holiday makers.
One of the reasons why Cyprus villas are so popular is because of the freedom it lets you have. When you are staying in a hotel you are restricted with check in times, check out times and meal times. This means that you have to plan your day around the hotel’s timetable especially if you have chosen to go full board. However, if you are staying in a villa you are completely free to arrive, leave and eat when you want. This means that you can plan your day around yourself, not someone else.
It is likely that you will only be using your holiday home a couple weeks of the year so it makes sense to let it out to other holiday makers for the rest of the time. This is reason enough why so many people invest in Cyprus villas every year. The money being made from renting your holiday home could be enough to pay off the mortgage of your holiday home or any other costs that you may have.
Another advantage of buying property abroad is that many resort developments are in ‘emerging market’ countries. This means that there has been less development in the past and therefore there is now greater scope for large – scale resorts to be built in prime locations. These are the best places to get value for your money and to make a profit as these resorts are not heavily populated at the moment so house prices should be relatively low. However, as these resorts become more heavily populated and built up there will be more demand for properties which will result in house prices going up. If you get in to these developments quickly you should be able to make a healthy profit when you go on to sell your holiday home.
Cyprus villas can feel like a home away from home which can help you to relax more on your holiday. Hotel rooms are fairly small and normally only consist of a bedroom and bathroom so you are limited for space. However, villas are like a whole home with bedroom, bathrooms, a kitchen and usually a dining area. This is great because you and your companions are not confined to one room and have plenty more space.
Gathering information and seeking professional advice is paramount before buying abroad. It is vital to speak to people who own a holiday home in the area you are interested in. It is also recommended that you visit the location out of season.
Image belongs to: Christian Bachellier. Taken from: www.flickr.com