# buying house or flat payment plan etc



## stefan78 (Jan 10, 2019)

hi

as i mentioned before in other topic i plan my big move to Cyprus in 2020 but maybe a bit later depends of few things...

i'm looking to buy house or flat however i was wondering is any developers or company in Cyprus offer same deal like in Northern Cyprus like payment plan on off plan property for example deposit 20-30% then monthly payments spread for few years but no mortgage?

i will be on position to buy smaller property for cash or ideally i will be happy to put deposit and then monthly payments on bigger new property even if is off plan and will be ready 2020 or later...

when i try google this option it shows only results in North...

i choose this option coz when i arrive i will be new in country without credit history so i guess my no chance for traditional mortgage also my work will be self employed mostly online so i guess for banks is big no 

any thoughts about it ?

any recommendation for payment plans?

thanks in advance for your time


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## PeteandSylv (Sep 24, 2008)

The recommendation that I and many others will give is Do Not Buy. Initially you should rent so that you can settle in and make sure you like living in Cyprus. As with anywhere it is always different living in a place to holidaying there. You will gain the opportunity to discover where you want to settle if you make the decision to buy and the types of property available. You will also be able to discover more about the facts you need to know when purchasing here.

Pete


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## stefan78 (Jan 10, 2019)

PeteandSylv said:


> The recommendation that I and many others will give is Do Not Buy. Initially you should rent so that you can settle in and make sure you like living in Cyprus. As with anywhere it is always different living in a place to holidaying there. You will gain the opportunity to discover where you want to settle if you make the decision to buy and the types of property available. You will also be able to discover more about the facts you need to know when purchasing here.
> 
> Pete


hi

thanks for reply

i have few reason why i want to buy not rent

when i was visiting Cyprus i was always like "local" stay in flat, drive rented car, shop and eat local, obviously i had time on beach etc but i try socialize with locals and expats and it really feels like is right place for me...

i will be working mostly online first but i have some plans about some local small business but not right away...

but if you have something serious in your mind what i can disslike please let me know
thanks


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## nhowarth (Dec 6, 2017)

Hi stefan

I go along with PeteandSylv's recommendation.

If you plan on living in Cyprus, start off by renting somewhere to live. You should rent for at least six months, ideally a year, and get to know the island before committing yourself.

Some people soon discover that living in Cyprus is not for them. They often find that family ties are too great or find it too difficult to settle in a foreign country.

Tourists visiting Cyprus often fall love with the island and immediately go on a property buying spree; failing to appreciate that holidaying in Cyprus and living in Cyprus two completely different things. Many regret their decision and sell up after a year or two and return to the UK, while others move to somewhere on the island more to their liking.

Others often make the mistake of making their permanent home in a tourist area rather than a residential area. They find out too late that their neighbours are noisy & constantly changing, or see adjacent properties standing empty and poorly maintained for many months in the year. Often they have no facilities nearby and, having no permanent neighbours, they find it difficult to make permanent friends.

*Finding rental property*

There are many properties available for rent in Cyprus; the longer the rental term the better deal you’ll be able to get.

But don’t rush into renting the first property you see. Stay in a hotel or rent a holiday apartment for a few weeks to allow yourself enough time to have a good look around and find something that you really like.

Renting gives you ample time to:

Decide whether you’ll be happy living in Cyprus.

Familiarise yourself with the island, the climate, the amenities and the local people.

Meet others who have moved to Cyprus and talk with them about their experiences.

Discover the real cost of living for yourself.

*Buying property*

Given the problems of the past and the on-going problems with Title Deeds, you should avoid buying off-plan. Buy a resale property that has been issued with it's all-important Title Deed.

Regards,


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## stefan78 (Jan 10, 2019)

thanks Nigel for plenty of info...

i need consider all options...

but after my few visits in Cyprus when i was trying be more "local" than tourist i think Cyprus is right place for me... 

when i moved to UK i was not prepared at all and i survive and succeed...

my move to Cyprus is much better prepared and for that reason i still more willing buy then let...

in worst scenario i can always keep it as investment, sell or rent out, just have to many bad experiences in past with landlords so i prefer be in my own place...

main reason of my move to Cyprus is coz i want to slow down a bit, have more time for myself and my hobbies which is difficult in UK mainly by weather and fast working life (i have source of income to support myself in Cyprus and some idea about small local business which i can open)
also i'm not getting any younger and i think if i settle in Cyprus now then it will be nice place to retire...

i hope you can understand more my position after this post.

thanks again


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## ConstantinosPap (Feb 27, 2019)

Hi there i think nobody will make you a plan for paying without a loan from the bank.
Some developers as i know the want the 30% and may be paid in three parts but have to be paid until the house will be ready to live. If you are a Europe citizen you can get a loan.
For payment plans i think nobody will agree more than 4 parts of payment.
And for sure will need 20% to 30% at the beggining.
Hope i helped.


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