If you are not accustomed to property market terms then allow me to explain what "Buy to Let" actually means. Well it's quite straight forward really as it's just a question of buying and completing on a property followed by letting it out to as many people as possible. The only important factor to consider is that your rental income covers your mortgage payments.
If you decided to buy and then rent out your property you must remember there are two seasons, Low Season and High Season. A high season in Northern Cyprus will be around 7 months of the year, while the low season is the remaining months which are left, but don't worry because Northern Cyprus as over 300 days of the year of clear blue skies and you'll find that families like to get away from the dull winter to a nice sunny place like Northern Cyprus.
So let's quickly run through a nice example of what it will cost you. Let's say you looking for a property in the value of Euro 250,000, which you can get with a very nice sea view. If you're buying new then you'll have to put a reservation fee down for Euro 3000 and this will hold the property for you. After that you'll have to put a 30% deposit down so that will be around Euro 75,000, don't forget you have to take the Euro3000 off which you have already paid.
The remaining amount due is 175.000 Euro so the best option is a mortgage, but make sure you shop around first. I recently saw one as low as 4.25%, so this will be the base for our calculations making monthly mortgage payments come out out around 800 Euro. Always opt for an interest only mortgage as this will lower the monthly payments, so this time round you would be paying about 9.600 Euro per annum.
The statistics available on rental income in Northern Cyprus show that properties can be let out for up to 10 months per year. So if we put the property we have just bought into the equation, we can expect an amazing 2600 Euro. in the high season and an awesome 1500 Euro. over the low season.
So let's say you rent your property out for 6 months in the high season and 4 months in the low season... your total rent for the year would be Euro 21600. Now you're telling me that there's no money in renting. There are other charges to pay which include rental management, community fees and the cost of these will range depending on which rental management you take your property out with. But the cost is way less than Euro 1000.
The important thing for you to know now is that if you believe this to be an opportunity that you don't want to let slip, then check out the Cyprusinformer.com/blog which holds all the answers to your Northern Cyprus property investment dreams. - 15485
If you decided to buy and then rent out your property you must remember there are two seasons, Low Season and High Season. A high season in Northern Cyprus will be around 7 months of the year, while the low season is the remaining months which are left, but don't worry because Northern Cyprus as over 300 days of the year of clear blue skies and you'll find that families like to get away from the dull winter to a nice sunny place like Northern Cyprus.
So let's quickly run through a nice example of what it will cost you. Let's say you looking for a property in the value of Euro 250,000, which you can get with a very nice sea view. If you're buying new then you'll have to put a reservation fee down for Euro 3000 and this will hold the property for you. After that you'll have to put a 30% deposit down so that will be around Euro 75,000, don't forget you have to take the Euro3000 off which you have already paid.
The remaining amount due is 175.000 Euro so the best option is a mortgage, but make sure you shop around first. I recently saw one as low as 4.25%, so this will be the base for our calculations making monthly mortgage payments come out out around 800 Euro. Always opt for an interest only mortgage as this will lower the monthly payments, so this time round you would be paying about 9.600 Euro per annum.
The statistics available on rental income in Northern Cyprus show that properties can be let out for up to 10 months per year. So if we put the property we have just bought into the equation, we can expect an amazing 2600 Euro. in the high season and an awesome 1500 Euro. over the low season.
So let's say you rent your property out for 6 months in the high season and 4 months in the low season... your total rent for the year would be Euro 21600. Now you're telling me that there's no money in renting. There are other charges to pay which include rental management, community fees and the cost of these will range depending on which rental management you take your property out with. But the cost is way less than Euro 1000.
The important thing for you to know now is that if you believe this to be an opportunity that you don't want to let slip, then check out the Cyprusinformer.com/blog which holds all the answers to your Northern Cyprus property investment dreams. - 15485
About the Author:
Discover this Cyprus Holiday Rent to Buy property investment blog edited by the illustrious Tim Martins and Unfold The Cyprus Property Investment Secrets
