Feeling Blue

[Alison]

My husband and I have visited Cy many times and have made the decision that we want to relocate we would like to be central although we love Pafos. We have thought of taking on a working B&B that is situated in Skarinou. We would still need a mortgage even with the sale of our property but as we need to work i'm (44 and hubby 53) and the chances of getting work are slim although i have an excellent salary here and a good job we have decided again and again to go for it over the last 5yrs we are worried about giving up everything and taking that chance. We thought about renting as an option we would have aroung £100,000 from the sale of our property but i would imagine it wouldn't be long if we rented before a hole was put in it. We are coming out again in April to look at the B&B, we are more happy being rural/village than living on the coast. Sorry if i sound miserable, i am a happy person really!!

[Stravinsky]

Originally Posted by Alison

My husband and I have visited Cy many times and have made the decision that we want to relocate we would like to be central although we love Pafos. We have thought of taking on a working B&B that is situated in Skarinou. We would still need a mortgage even with the sale of our property but as we need to work i'm (44 and hubby 53) and the chances of getting work are slim although i have an excellent salary here and a good job we have decided again and again to go for it over the last 5yrs we are worried about giving up everything and taking that chance. We thought about renting as an option we would have aroung £100,000 from the sale of our property but i would imagine it wouldn't be long if we rented before a hole was put in it. We are coming out again in April to look at the B&B, we are more happy being rural/village than living on the coast. Sorry if i sound miserable, i am a happy person really!!

Well, its always a risk Alison and you both really have to be sure you want to take it. Many have realised it was the wrong decision for them. Having said that if you don't do it then you will never know, and you may spend the rest of your life thinking ....... what if .....

Not very helpful eh ... sorry .... you're the only one that can decide. Just do your research carefully and check every aspect. Thats all you can do

[Pam n Dave]

Hi Alison,

It looks as though your main problems are financial concerns, it may help if you get a professional to cast an eye over them. Before we decided to move we got financial opinions from both the UK and from Cyprus, those opinions raised more questions so we got even more opinions. By doing this we managed to establish a consensus in our own minds and this has now made us more comfortable about the move to Cyprus.

Dave.

[yummymummy150]

Sorry things are not going to plan but you are better taking your time as you are and look at all possiblites.Then there comes a time that you just have to go for it or there will never be the right time and you be sitting in the uk 10 years from now saying i wish. You can do it all the best Tricia.

[grumpy]

Hello Alison, You raise some very good concerns and some of the hidden niggles which wedge themselves in the back of peoples minds. You are clearly very keen (and your partner) and are really worried about failure and the financial collapse that could bring.

Lets take a step back a little and look at your situation today in the UK. You have some equity (which is only viable upon sale of borrowing), but are clearly unhappy about the UK, enough to consider moving abroad. Clearly the jobs/work is something you wish to change.

If you stayed in the UK, sold up and moved to another part of the UK to open or continue to run a B&B yu would have the same perils and obstacles to overcome (as well as some regional differences of language, culture etc). So whether you change your life in the UK or Cyprus is dependant upon where you want to restart.Do you want to continue where you are, or with a complete fresh start?

Financially when you start any business anywhere in the world you have to be willing and able to work long and hard to establish it and create a viable business to feed yourselves, so working as often as possible in the sun is appealing.

We can help people buy and rent, however you have to be certain in your minds exactly what you want out of your life.

Financially if you can boost your funds before you go in the next 1-2 years then go for it to make the move a little easier. If you cannot improve your funds then why wait? You will never be any younger than you are today and probably in the best position to start a business.

And if all goes spectacularly wrong and the bottom falls out of everything in Cyprus (or here) then you'll never be younger than you are today to be able to build a future again.

We have plans and dates etc in mind when we think the optimum time to move will be, and are aiming for it. You should assess your current position, and estimate your future to give yourself a date to move.

But remember to talk to people and take out of it the relevant information.
Cheers
Doug

[Alison]

Thanks so much for the good information I doubt we would be able to raise much more capital so we will need to look at mortgages. We have broke down almost everything we can think of that's over and above... from our dogs to health insurance a vehicle and lots of other things, so money sitting in our savings is spoken for we have estimated everything a little over the cost. I am a psychologist and my husband has a small business (flooring) we will never be millionaires but we are comfortable here. We made the decision some years ago to move to Cyprus but i must admit i am a realist so probably look at the worst senario even though i feel a great impulse just to get on with it. We have to be willing to give up what we have and risk all for a better future we both feel as strong as each other that it is what we want but something always happens to slow the process down. we were viewing with MRI but couldn't go due to my husband getting pnumonia and not being able to fly, so we had to cancel the week before we were due to leave. We will keep reading and researching and we are having an independent person to look at our financial position next week. And yes we are really fed up here today ive paid an enormous gas bill, my car tax, council tax and water rates.
Regards Alison & Geoff

[jeffrey Streets]

Hi,

Have you considered renting your house in the UK and with the proceeds rent in Cyprus which may also give you extra income. This way you can atleast give it a try knowing that you do have a home in the uk if things dont work out. Why not send your partner out first to try and establish a job/business and you follow later. Take vacation and use it to seek employmnet and way up the cost of living.

One lady in another forum complained that the cost of living is high and that she pays 84 pounds per QTR council tax well I pay 207 ukp per MONTH!!

As everyone on the forum advises research, research but there is no need to put your eggs all in one basket.

[grumpy]

Alison there comes a time when we can over research and end up doing nothing.

Can I ask why you have an independant person looking at your finances and exactly what you expect him/her to establish?
Is that person going to be an expert on life in Cyprus?

Or are you subconsciously looking for a reason not to go to another place?

Chances are you started off in the UK with nothing and had to work to where you are today, and you both probably have to work hard to maintain where you are today, so you should approach Cyprus the same.

Good luck, but dont let too many considerations, facts, figures and opinions muddles your decision making.

[Alison]

Are you working within the market as your post's are really helpful, we already have a property in mind.
Thanks for your opinions
Alison & Geoff

[Alison]

Sorry the reason we are having someone look at our finances here in the UK is because we have a few policies that we need up to date information on, before we look at the mortgage opportunities etc