# Hands up........



## billsun (Dec 15, 2015)

Those of you Expats who did not rent before buying Cyprus property and maybe wished they had or indeed are glad they saved 6 months rental money and furniture storage costs.
I have been advised to rent first by some of you but I know some who took the plunge, albeit not completely blind folded, and bought without renting first.


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## expatme (Dec 4, 2013)

It is always best to RENT first. We purchased when we first came to Cyprus (Paphos) in 2004. When we decided to move it was a disaster. All the fees etc and the long time before we eventually found a buyer. We now rent permanantly and would not buy again. There are many reasons to rent. The main one being the ease of moving due to 1. bad neighbours 2. Yapping/Barking dogs 3. Huge rent increase 5. Change in circumstances and many more.


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## Talagirl (Feb 24, 2013)

I would also strongly recommend that you rent so as to have plenty of time to look at different areas and properties. Having owned an apartment in one area of Paphos for many years, on our return we decided to rent elsewhere.


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## GSmith (Nov 9, 2015)

Hi Billsun

As you've already read, renting is definitely the way to start out and the money spent on rent could be the best investment you ever make. Sadly, many people have found that buying in Cyprus has been the worst investment they have ever made.

Re the tax guide I mentioned on the 'introduce yourself' page, send me an email if you can and I'll send it over to you. You should be able to find me via the info on my profile but I have sent you a PM as well.

Garry


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## Rema (Aug 12, 2012)

Some different views, quite naturally, on this topic.

In our own case we bought a property after only being here for three days. We agreed a development plan for a house that had been built two years prior with a developer as we needed some major structural changes. After paying a deposit and agreeing stage payments we found a local lawyer and gave him power of attorney to draw up the sale contract. On the same day we flew back to UAE.

Some 7 months later we relocated to Cyprus and moved into our new home.

I'm pleased to report that everything went to schedule, cost and quality expectations. Yes, there were one or two items that needed addressing but the developer responded quickly and without quibble. We have been delighted with the way things have turned out and would recommend the developer to anybody.

So, whilst I agree renting is the route some take, buying was the best thing we did,


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## billsun (Dec 15, 2015)

Thanks Rema your experience and views are much appreciate.


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## Veronica (Apr 5, 2008)

We also bought immediately but our first purchase was an apartment for holidays which we then decided to come and live in after our first holiday in it. We soon realised that apartment living was not for us so put it on the market after a few months and sold it fairly quickly and bought our current home.
However that was at a time when properties sold much more quickly and had it been more recently we might have been stuck in an apartment that we were not happy in.
So I can see it from both sides.

I would say that buying an apartment for living in is not to be recommended, only buy apartments for holiday homes. 
However if you find a house you like in a nice area then to my mind buying is better than renting. You have the freedom to make changes, to do what you want to it which you don't have with a rental.
We have recently had our ceilings insulated, photovoltaic panels fitted and new electric heaters installed. So we will be nice and warm in the winters in future. Landlords would not want to spend that sort of money to ensure their tenants are warm.
Also of course over the years rental is just dead money. In the 11 years we have been here if we had been paying, for example, 600euros a month in rental we would have shelled out around 80K with nothing to show for it. As we get older and can no longer run our business we do not have the worry of having to find enough money to pay rent as well as all other living expenses.

So its horses for courses as they say. What suits one may not suit everyone.


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