The Real Estate market in Cyprus is booming. With the prices of houses and Real Estate properties rising, it is the ideal time to buy a house in Cyprus. Whenever people look to purchase houses in Cyprus or go on a house hunt, they have a number of questions in their minds. Here are some important questions to ask before buying a house. These are the key questions for home buyers that help them in making better purchase decisions. These Real Estate questions will offer you clarity and help you in investing in Real Estate property.
Questions to Ask Before Buying a House:
1- How much is your total Budget for purchasing a house in Northern Cyprus?
Before making any purchase decision, it is crucial to know how much money you are going to invest in your house. Once you have decided on your Budget to buy a house in Cyprus, you should look for houses in your price range. This will narrow down your options and allow you to quickly go through the best possible houses for you.
2- What’s the down payment for the house?
If you have the money available in cash to purchase a house, the word of advice for you is to pay the full amount and avoid the Mortgage. However, if you do not have the full payment available, you must get an idea of the down payment needed to purchase a house.
Once you know the down payment for a house, you can plan your Budget accordingly. A rough estimate for the down payment is the bare minimum of 20% of the total value of the property.
Again, the suggestion for home buyers in Northern Cyprus is to pay as large an amount as a down payment as you can so that you may avoid the unnecessary Mortgage.
3- What does the Neighbourhood look like?
One of the most important questions to consider when making a decision about purchasing a house in Northern Cyprus is the quality of the neighborhood. What does the neighborhood look like? How close is it to your office? What’s the quality of education in the area? What type of people live in the area? How many parks and other recreational facilities are there?
All these questions should be considered before purchasing a house in Cyprus. This will directly affect the quality of life in the area. Therefore, you must ask all these questions before buying a house in Northern Cyprus.
4- What type of location is it? Are there any risks of Natural Disasters and Calamities in the Area?
Another good question to ask before buying a house in Cyprus is about the location. Where is the house located? How far is the area from the main city? Is it a residential area? How much commercialization is there? Are there any risks of natural disasters and calamities in the area?
These are important questions, as Natural disasters can cause severe losses to your property and assets. Therefore, it is better to take these factors into consideration as they will also affect the price and value of your house in northern Cyprus.
5- How old is the House?
If you are considering a house for purchase, it is better to ask how old the house is. How long has the house been constructed? This question is important because most houses have a limited time span. Make sure that the house is in good condition before finalizing the purchase.
6- What’s the Reason for selling?
If someone is selling a house, there must be some solid reason behind it. Therefore, you must ask about the reason for selling, as that will help you understand the deal better. By asking this question, you will better understand the quality of the house. Moreover, you will be in a better position to negotiate the price of the house as well.
Therefore, you must ask about the reason for selling before purchasing a house in Northern Cyprus.
7- What’s the rate of houses in the neighborhood?
You should look at the trend of prices in the neighborhood. You should know the general rates of Real Estate properties in Northern Cyprus. This will allow you to explore the market better and negotiate a fair price for your house.
8- What are some other housing alternatives in the same price range? What other houses can you purchase for the same price?
You should also look for other houses in Cyprus for the same price as the house that you are considering. By comparing different houses in the same price range, you will understand the different features of the properties and make the best purchase decision.
9- Ask your Real Estate Agent about his experience:
Real Estate Agents in Cyprus can help you a lot in purchasing your house. However, you must ask your agent about his experience, portfolio, and other houses that he has sold in the past. Moreover, you should also ask about the different services that your agent will offer in the price range.
10- What are the Property Taxes in the Area?
Taxation can be an issue in certain areas. Therefore, you must ask about property taxes before purchasing a house in Cyprus.
11- How old are the appliances and Systems in the House?
Asking about home appliances and systems is a smart thing to do before buying a house in Northern Cyprus. This will help the homeowners in knowing about the quality of the house. Do not buy something that is too old or dysfunctional.
12- What are the closing costs for buying a house in Cyprus?
Many people often ignore the closing costs while buying a house in Cyprus. You should ask about the closing costs before finalizing a house in Northern Cyprus.
Generally, the closing costs for buying a house in Northern Cyprus are about 2% – 5 % of the total price of a house.
Conclusion:
These are some helpful and important questions to ask before buying a house in Cyprus. You should visit Four Vision Development for further guidance and help in buying a house in Cyprus.
