The real estate sector is one of the shining stars of the Cypriot economy. In the past few years, the sector has continued to grow faster than the overall economy. A close tour of most Cypriot cities like Limassol, Nicosia, and Paphos shows that the number of real estate projects is increasing. In this article, we will look at some of the best reasons to invest in the Cyprus real estate project.
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There can be a huge probability that despite wanting to get a house you are not enthralled by the idea. If the idea of buying your first house is not exciting you then you should consider the alternatives and go for the investment property. There are several reasons due to which people are turning more towards investment property then taking the conventional route and buying their own house. If you are not fully convinced by this idea then the points and reasons mentioned below will help you to a great extent.
Reason #1: Home Values are Higher than Rental Properties
The budget can be your first and foremost issue which can force you to settle for less. There can be a high probability of this case because the market is always soaring with prices. Getting the property for the first time can be daunting due to the home values. There is a constant increase of 10 percent in home prices. There has been a high cost, labor shortage and high demand with which the homebuilders are suffering from. There have been several permits and other zoning regulations that hinder the pathway of many builders. Several middle-class families then struggle to afford the homes which could, in essence, satisfy the demands. If the real estate will continue this trend then the economy will maintain the levels it currently has.
Reason #2: No Interest Rates Fluctuation
The other reason for not buying the first property is that interest rates are low. If you are aware of the housing market crash of 2008 then you will also be aware that gone are those days where easy and quick loans were easy to get. There are several factors which you will have to consider when expecting the interest rate. You need to see that what is your credit score, the down payment amount and debt to income ratio. These factors will directly impact the interest rate for the properties.
Down Payment Amount for the property
Unlike in rental properties, the buyers, in this case, are putting down about 5 percent which also has a special monthly cost attached to it. If you are someone who is looking for the property investment then mortgage insurance is not available.
High Credit Score
When shifting from rental properties to the owned property you also need to be aware of the credit scores. You might already be aware of the fact that banks do see the background and whether there are strong borrowers or not. If you need a rough estimate then borrowers who own a credit score above 740 are not much of a risk for the lenders. This credit score makes you qualify for the low-interest rate but if your credit score is below 740 then you need to worry a little as your interest rate will shoot up. This is not only limited to banks but even the investors are looking at the risk versus return both on the ROI and investment.
Is real estate a good investment?
We believe it is.
Investment is a great way to secure and multiply your hard earned money. There are many types of investment opportunities around us, each having their own set of pros and cons.
Some investments yield good returns but they are very risky. On the other hand, investments that are safe and secure, usually end up generating less profits. In short, the benefits of investing in property are huge.
We analyzed certain investment opportunities and it is safe to say that real estate is the most secure and stable source of passive income.
Why we consider real estate as the best investment opportunity?
Let’s find out!
1. Less volatile:
Real estate investments do not face abrupt changes like stocks and shares. The real estate market is quite stable and the prices appreciate at a smooth pace. It means the chance to incur loss is quite less in real estate.
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New York City is one of the biggest cities in the United States. Many people dream of living and working here. They spend months and even years collecting money for moving to New York. But as apartments in New York are very expensive, not many people choose to buy them. They usually opt for renting. And if you have an apartment in New York there won’t be time for it to be empty because the need for apartments is very big. For this and for many other reasons, buying an investment apartment to rent out is a move a lot of people have been making over the last few years. And if you want to be one of them, here is where you’ll find plenty of useful information regarding this topic.
Why doing this is a good idea?
Like it’s already mentioned above, New York City is a very well-known city and a lot of people move there for plenty of reasons. Some move there to have a fresh start, some move there for big amounts of job opportunities, some even move there to get an education and live the best years of their lives to the fullest. No matter the reason, plenty of people come to New York every year. This, of course, means that the need for apartments for rent is huge. This is good news for those who own apartments there. You’ll have someone living in the apartment all the time because of this. And this means you won’t ever be in debt after you pay off the apartment you purchased.
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Condominiums can be the best housing option for homebuyers with a smaller budget and would want less burden for maintenance, repairs, security, and landscaping.
Whether you want to buy a condo as your first home or as an investment, owning a condo is a long-term commitment especially when you’re taking a loan to finance it. Normally, a lender will let you choose between a 15-year and 30-year repayment term. A long term would be the better choice for buyers who want a lower monthly payment while the short term saves the buyer a lot of interest in the long (or short) run. Take a look at the different types of 30-year loans and the condo’s qualifications before you commit to a loan package.
If you’ve got your heart set on a newly-built condo, you should be aware of a few steps that you should comply with to get a mortgage so you can buy it.
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Despite all the regulations surrounding the business, buying an Airbnb investment property still remains lucrative. The following are some reasons supporting this.
To begin with, studies continue to show that the short-term rental business, which includes Airbnb, is growing at 7.9% year after year. This means that an increasing number of vacationers and travelers continue to find Airbnb attractive. This is unsurprising considering the benefits that Airbnb offers in comparison to traditional hotel rentals.
Second, Airbnb rentals are more profitable than traditional long-term rentals. For example, consider a 2-bedroom property that rents for about $2,000 a month. Then, consider how much the same property would be able to make if it was an Airbnb investment.
With a reasonable rate of $100 per night, that would mean $3,000 per month in rental income. Even taking considerations like vacancy costs and occupancy rate, an Airbnb investment would still be able to net you more.
Owning an Airbnb investment would also provide you with another home that you could use for your family’s vacation.
Evidently, buying an Airbnb investment property can be lucrative. That said, just like any other real estate investment, due diligence is key. To learn more about different kinds of rental properties, check out this rental management glossary.
The following are top tips on how to buy and manage a profitable Airbnb rental property.
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Aside from its candid beaches, lavish golf courses and hyperactive nightlife, the next-closest thing Florida is known for is the theme parks. It’s naturally a great tourist and holiday destination for millions all around the country. The same goes for the three dozen or so retirement homes spread throughout Central Florida. Although South Florida gets the greater bulk of attention from these sources, Central Florida has slowly established itself as a paradise composed of active retirement communities.
With so many places to pick from, settling on a single community can be a bit daunting. At the end of the day, however, the best retirement communities are recognized as the most affordable, while still offering a good host of services, including medical care and recreation. Here are five communities that manage to balance out some of our favorite factors properly.
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