Most people who are not in the property market don't understand what the term "Buy to Let" means. Well it's simple you buy the property and everything has been completed you rent to it out to anyone who wants to stay in your property. The main thing you have to think about when you're doing this is make sure your rent 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.
There's nothing better than having real figures to work from so let's go over a property deal including a sea view totalling 250.000 Euro. First you will have to make an initial down payment of 3000 Euro to hold the property. That is followed by paying a 30% total deposit which would come to 75.000 Euro, including the 3000 Euro down payment.
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.
If we now take a look at rental statistics and in Northern Cyprus there are 10 months rental income guaranteed. Now comparing to the property we have just bought, you can expect a cool 2600 Euro. in the high season months and 1500 Euro. during the low season.
So if we go into a little fine detail on the property we have just purchased, let's calculate on it being rented out for around 6 months over the high season and about 4 in the low season. This you may be amazed to know works out at 21.600 Euro rental income in your pocket. Well you will have to appoint a property management company to take care of your payments such as community charges, but this won't be more than 1000 Euro a year. Are you beginning to see why property investment in Northern Cyprus sounds interesting?
If you feel that this could be the property investment for you in a country which received over 2.6 million visitors last year. It is still a growing trend and there is a need for more properties to let out, so don't miss the boat. Act now and head over to the Cyprusinformer.com/blog and you will find the best property investment advice on the internet.
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.
There's nothing better than having real figures to work from so let's go over a property deal including a sea view totalling 250.000 Euro. First you will have to make an initial down payment of 3000 Euro to hold the property. That is followed by paying a 30% total deposit which would come to 75.000 Euro, including the 3000 Euro down payment.
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.
If we now take a look at rental statistics and in Northern Cyprus there are 10 months rental income guaranteed. Now comparing to the property we have just bought, you can expect a cool 2600 Euro. in the high season months and 1500 Euro. during the low season.
So if we go into a little fine detail on the property we have just purchased, let's calculate on it being rented out for around 6 months over the high season and about 4 in the low season. This you may be amazed to know works out at 21.600 Euro rental income in your pocket. Well you will have to appoint a property management company to take care of your payments such as community charges, but this won't be more than 1000 Euro a year. Are you beginning to see why property investment in Northern Cyprus sounds interesting?
If you feel that this could be the property investment for you in a country which received over 2.6 million visitors last year. It is still a growing trend and there is a need for more properties to let out, so don't miss the boat. Act now and head over to the Cyprusinformer.com/blog and you will find the best property investment advice on the internet.
About the Author:
Discover this Cyprus Holiday Rent to Buy property investment blog written by the illustrious Tim Martins and Unfold The Cyprus Property Investment Secrets
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