Buying a second home is what most people do these days. If you are buying land or buying property in Cyprus, you will find that it is the best investment you have ever made or maybe the second.
But how do you pay the mortgage on that second home?
Well, nowadays renting has never been easier, and even if you don’t live in Cyprus, you will find that you will have no problem renting your holiday home.
In fact, in the rush hour, you will earn much more than you may think, but the winter months can be a bit slow, but in most cases you still need to break even for the winter.
People must think that buying a second home is out of their reach, but they really don’t know how easy it is to find the money for it.
It’s very simple, all you have to do is the math. If your mortgage in Cyprus is €1000 a month which works out to around £750 a month and you can rent out your property in Cyprus for €1000 a week well guess what your mortgage is covered plus you have three additional weeks of rent.
Now you need to understand that in the winter you may only rent for a month or two, and the rent is much lower, in fact the rent can be cut in half, so if you figure it out in a Cyprus winter (which is like a British summer) last around 4 months a year, you would need to rent your property in Cyprus two weeks a month for four months.
But do not forget that you will earn three times more in the summer months. So if you settled it over a period of 12 months, you would have around 6,000 – 7,000 euros in your pocket, plus the price of your property in Cyprus is going up.
So ask yourself some questions here; Can I get this profit back on my ISA or my pension for the year, plus a vacation home for your family? I do not think.
Instead of working harder, why not start working smarter and let your money do the hard work for you?
If you want more information on how to invest in property in Cyprus try http://www.cyprusinformar.com they will point you straight and give you all the advice you need to buy your property in Cyprus and show how to rent it in the easiest way .