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How to Buy a Good Retirement Home in Cyprus

How to Buy a Good Retirement Home in Cyprus

In the past few years, life expectancy rate has been rising around the world. This is simply because new technology has made it possible for many diseases to be cured. This is a good thing. However, it also brings the challenge of funding retirement as the cost of living has been increasing. This has made many people start looking for other less expensive cities and countries. These people want to live in a place with a high quality of life but one that is less expensive. One of these places is Cyprus, the small country located in the Mediterranean. In this article, we will look at the best way of buying a good retirement home in Cyprus.

Visit Cyprus First

It is easy to buy a home these days. Many people are buying homes through the internet. However, if you are buying a retirement home to save money, the reality is that you want to save money. You want to get a good deal. Therefore, we recommend that you first take time to visit the country. If possible, we recommend that you stay in Cyprus for a while. This will give you time to have an experience about the country. You will also identify the places you will be happy to live in.

Have a Budget

A budget is an essential thing to have when buying a home. You want to buy a good house that is also reasonably priced. The benefit of settling in Cyprus is that you will find houses of all varieties. You will find million-dollar townhouses and villas. At the same time, you will find descent houses that don’t cost that much. Therefore, you should sit down with your financial advisor and come up with a budget. This budget will help you get a good house and not put you at a compromising financial situation.

Use an Agent

As with all countries, it is possible to find a house and buy a house by yourself. However, as an expat, we recommend that you use an agent. There are many property agents in Cyprus. There are big brands like CENTURY21 and other smaller brands. The benefit of using an agent is that it will help you find a good house that is within your budget. It will also help you find a house faster. More so, these agents will help you find a property that is in a good place.

Cyprus Residency

There are many ways of living in Cyprus. If you are a foreigner, you can get a residency by just acquiring a property. It is also possible to get a Cyprus investment passport if you buy a property worth more than 2 million euros. This citizenship will enable you and your family and friends to live and travel anywhere in the European Union. You should consult a lawyer to find more about this residency.

Summary

Finding a good place to retire is an important thing. This is simply because we all want to spend our twilight years living comfortably. Cyprus is a good place that has an affordable cost of living. It is also a place where you are sure to enjoy your retirement. There is good infrastructure, good hospitals, and great beaches to enjoy.