Holiday home in Peyia

[monkey wills]

Hi, yet another newbie with some questions..
My wife & i are thinking of buying a holiday home in Peyia. We have a 3yr old so they should be spending al the school holidays out there until we know if we would like to move permantly.
Its a 2 bed apartment with all the usual ameneties, pool etc.. Its unfurnished, so is it easy to buy good furniture ( not realy into flat pack).
I dont intend to rent it out accept to family/freinds as it doesn't need to generate an income, so is it safe to leave for long periods of time unatended( silly question really theres not really an answer to that) Its in a gated comunity if that helps.

I'm trying to blag a week off work next week to come over & see the property & if suitable start to buy? Is there anything that i should be asking or bringing with me that might help?( besides lots of money) Built in 2008 & does'nt meantion deeds, should i worry?
Its not going to be a short term buy, but as my money is not generating any interest in the bank i might aswell invest in a property, who knows if i will profit in the end but at least we'll have some nice holiday's in the sun & might end up retireing permantly??
Thanx for taking the time to read any feedback would be appreciated, Richard.

[Cleo Shahateet]

If you plan to possibly live in it, use it for holidays then possibly even retire in it then I say you can't really go wrong. If you moved your family over right away and bought a big, expensive villa, then decided it is better here for holidays than to live you would be in a rut as the resale market is slow. There are sales but as you know many, many properties are on the market so you would have lots of competition. As for title deeds, same applies, since you are planning on keeping it long term you won't be in a rush to get them in order to resell more easily.

[Veronica]

"Built in 2008 & does'nt meantion deeds, should i worry?"

It takes years to get title deeds especially with apartments.
As Cleo said don'tbe in a hurry to buy the deedseven when they become available because there are plans to stop charging people stupid money for t itle deeds. The longer you hang on the better chance that when you get your deeds you wont have to pay for them.

As for furniture etc if you are not into flatpack stuff from places like Ikea you need to be on the Mesogi/Polis road in Paphos which is where all the furniture stores are.

Regards Veronica

[monkey wills]

Thanks peep's, first time i've bought anything abroad so a bit wary.. I've been watching the property for about 5 weeks now & its just been reduced from £105 thou to £85 thou so i feel i should go for it now before they start going up again? Any thing i should ask next week when i come out regarding hidden costs etc. To be honest any advice would be welcome.
Thanx Richard..

[Veronica]

Originally Posted by monkey wills

Thanks peep's, first time i've bought anything abroad so a bit wary.. I've been watching the property for about 5 weeks now & its just been reduced from £105 thou to £85 thou so i feel i should go for it now before they start going up again? Any thing i should ask next week when i come out regarding hidden costs etc. To be honest any advice would be welcome.
Thanx Richard..

Richard make sure you find out why this is so cheap.
Make sure it is a good developer without debts on the land. There is one developer who builds in the peyia area who has gothuge debts on land he has built on and people are desperate to sell their properties knowing that they will probably never get title deeds.
Please do not jump in without checking everything out. Cheap is not always cheap in the end if you end up buying a poisoned pup.

Veronica

[monkey wills]

Originally Posted by Veronica

Richard make sure you find out why this is so cheap.
Make sure it is a good developer without debts on the land. There is one developer who builds in the peyia area who has gothuge debts on land he has built on and people are desperate to sell their properties knowing that they will probably never get title deeds.
Please do not jump in without checking everything out. Cheap is not always cheap in the end if you end up buying a poisoned pup.

Veronica

Thanx Veronica, If you (or any one else) know anything about "Peyia Gardens" let me know. Its being advertised on Fitzgeralds who seem to have a good feedback? While i'm over i'm also going to see a couple of other apartments & 1 townhouse.. As its only to be a holiday home for myself & family i wasnt looking to spend too much as i hate dept.

Thanx again, Richard

[Veronica]

Originally Posted by monkey wills

Thanx Veronica, If you (or any one else) know anything about "Peyia Gardens" let me know. Its being advertised on Fitzgeralds who seem to have a good feedback? While i'm over i'm also going to see a couple of other apartments & 1 townhouse.. As its only to be a holiday home for myself & family i wasnt looking to spend too much as i hate dept.

Thanx again, Richard

At least it isnt built by the developer I was thinking about.
Its a Pafilia development.