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FINDING YOUR NEW HOME

Moving to Cyprus also means opening up for a variety of living arrangements no matter whether you’ll be renting or buying.

It is quite simple to find a new home in Cyprus as there are many options available. To find the best option for your new home, you will need to consider some requirements for your future home in Cyprus.

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How to find your new home

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The very first step to take is to define the requirements you have for your new home. After that you will need define your budget for either monthly rent or for buying a property in Cyprus. Only then will it make sense to make a final decision about where in Cyprus you would like to live.

Of course all of the above steps will influence each other and you might have to go back a step to match your requirements and budget with the part of the city you want to live in.

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Step 1 – Home requirements

Here is a short checklist of what you should consider for the first step:

  • How many rooms do you require?

  • How big should the house/apartment be?

  • Would you like access to your own or a community pool?

  • Do you require a balcony? If yes, how big?

  • Do you want a garden?

  • Is sea or mountain view a must?

  • Should it be furnished or unfurnished?

Once you have figured the requirements for step 1, it is time for

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Step 2 – Budget

Rent in Cyprus might be cheap compared to other European countries, but nothing is free. So you will have to consider what your budget is and how much you can or are willing to set aside for home costs such as rent, water and electricity.

If you are looking to buy, it is obviously a different expense, but nevertheless a predefined budget will make it a lot easier for you (and your agent) to quickly find the house that you will love.

. Don’t forget to take expenses for water and electricity into consideration.

Once you are settled on a rough budget you are ready for step 3.

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Step 3 – Settling on a location

As with any other city in this world, you will find pros and cons for moving to all cities in Cyprus. You can research and read a lot about the cities, but at the end of the day, the best way to settle on a final location is to visit Cyprus before you make your decision. This visit will give you a feel for the area that no one can provide through writing, reviews, images and video.

However, if visiting Cyprus beforehand is not an option, you can base it on where you think you will spend most time such as close to a work place and you can read our guide to the cities and areas here:

  • Limassol

  • Larnaca

  • Nicosia

  • Paphos

  • Famagusta

If you have decided on a fairly precise location makes it a lot easier for you (and your agent) to find the right place for you to live.

Buying or renting property?

There is no definitive answer to this and there are a lot of variables that should influence this decision. Here are a short list of benefits for each option:

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Benefits of buying property

  • It’s yours – for as long as you want

  • If you are not a citizen in an EEA country or Switzerland, you will need to purchase a permanent residence for a minimum of €500,000 to receive a Cypriot citizenship.

  • The investment is also included in the required investment of more than €5.0 million to receive a cypriot citizenship

  • It’s an investment. As the property market increases in value you will reap the increase of your property value

 

Benefits of renting property

  • The rental costs are low compared to many other European countries

  • You do not have to worry about maintenance

  • Renting is a flexible solution

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