Top 7 Factors to Consider Before Buying a Home in Cyprus
More and more people are choosing to live in houses and apartments that provide a variety of nearby amenities, such as green spaces and good transportation links, as city life can sometimes be stressful.
For investors, one of the most crucial things they should consider is the profit potential. It is more vital than ever to ensure that your house is attractive to potential renters in today's competitive market.
To attract potential buyers or renters, major developers and project managers strive to enhance their flats and houses for sale with renovations and modern features to make them more appealing. They also build their houses and apartments in friendly and convenient locations.
A property in the heart of a city makes a better first impression than one on the outskirts of town. For investors, this means that it is well worth the time and money to invest in fully equipped homes close to the city center with premium features, in which potential renters will be happy to live. Investing in high-quality homes in good areas increases rental income and helps attract and keep renters in them for many years.
Let's look at the top 7 factors to consider before investing in a residential property in Cyprus:
The Amenities You Need In Your Next Home
Investors know that generating rental income is about attracting the right tenants. One of the simplest methods to do so is to provide a well-situated, pleasant home in a friendly and safe neighborhood. After all, today's renters seek more than simply a place to stay; they're searching for a cozy and quality home that becomes their oasis in today’s hectic world.
In any residential area in Cyprus, there are countless neighborhoods, each offering a unique set of amenities. While some renters might be satisfied with the island’s lifestyle, others might be looking for that extra something that caters to their specific needs.
Here is a list of factors you should consider when buying a house or apartment in Nicosia, Limassol, Paphos, Larnaca, or any other place in Cyprus.
1. Safe Neighborhood
We all want to feel safe when we go out around our house. So, choosing a safe neighborhood is critical for home buyers or renters as this comes along with peace of mind.
Whether you are a first-time home buyer or an experienced investor, the importance of safety and security should not be overlooked. Nothing compares to the serenity of mind that comes with knowing you and your loved ones are safe and secure.
A safe neighborhood means convenient location, sufficient lights on the streets, pedestrian-friendly, green areas and amenities in close distance.
2. Nearby Parks & Pet-friendly spaces
Outdoor amenities are more valuable than ever before. As more and more people are engaging in the work-from-home trend, close-by outdoor spaces like parks and sidewalks offer an extra advantage to houses for sale.
Besides people working all day from home who want to go for a walk and breathe fresh air after work, green spaces near the house are also attractive to families with children.
Parks are also crucial to people who have pets and want to take their dogs for a walk every day.
3. Convenient Transportation
With cities continuing to grow, the demand for public transportation is at an all-time high. If your property is located near a bus or train station, you will have no trouble keeping it rented out or selling it down the line.
Public transportation provides additional options for commuting to work or travelling around. Being close to public transportation is also a must if you want to attract a younger demographic who may not yet have their own vehicle.
For people who own a vehicle and prefer commuting with it, it is important to live in a location that offers convenient transportation links between cities.
4. Schools
Families with kids search for properties within walking distance from schools to avoid the drop-off and pick-up rush. Schools close to residential properties increase the value of the houses, while parents can save money on travel expenses to and from school and bus pass costs.
5. Play Area for Children
A play area is not an unnecessary luxury but a fundamental amenity, especially in densely populated urban areas. The benefits of having a dedicated space for children to play near or inside your house are countless, extending far beyond simply providing a place for kids to burn off some energy.
Play areas help foster a sense of community, providing a gathering place for families and neighbors to interact. They also promote physical activity and offer opportunities for social and emotional development.
6. Proximity to Grocery Stores & Pharmacies
Having grocery stores, cafes, restaurants, pharmacies, and hospitals within close distance brings a much-needed convenience to people’s lives.
Are there restaurants and supermarkets nearby? Are delivery services available in the area? These are important necessities to keep in mind.
7. Fitness Center
A fitness center close to a house for sale can help attract and retain prospective home buyers.
In today's world, people are pretty health-conscious and want to have access to amenities that will help them stay fit and healthy. Having a fitness center near home means that residents do not have to drive in traffic to do some workout. So, a nearby gym can be a significant selling point.
The Bottom Line
If you are interested in buying a property in Cyprus, make sure it has several essential amenities nearby - either you tend to live in the property yourself, or you plan to rent it out!
Location is key for the price of a real estate property. Gym, safety, amenities, and nearby green areas are all high on buyers’ and renters’ lists. A home close to public transportation will also increase demand because people can easily access jobs around town or travel to other cities. Close-by schools is another essential amenity if kids come along too!
Home buying can be an overwhelming experience, but with the help of real estate professionals, you have nothing to worry about. Get in touch with the team of GoGordian Real Estate to learn more about our services or schedule a viewing for a flat or house in your preferred location.
Call us at 77 77 56 56 or email us at enquiries@gordianservicing.com.
Do you have questions? Talk to our Cyprus Real Estate experts.
Do you want to learn more about the process of buying a property? Read our guides below: