You may not be at all familiar with property market terminology so in layman's terms "Buy to Let" means just that. You only have to buy a property, complete and then let it out. There is just one special rule to take into consideration and that it that your estimated rental income fully covers your mortgage costs.
If you are considering this type of property investment then you need to study the total month times for the Low and High seasons. Let's take Northern Cyprus as an example which has about a seven month high season and the rest is low and let's add to that over 300 days of clear blue skies. You can see why so many people want do get away from dull days and get straight over to sunny 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 totaling 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.
The statistics available on rental income in Northern Cyprus show that properties can be let out for up to 10 months per year. So if we put the property we have just bought into the equation, we can expect an amazing 2600 Euro. in the high season and an awesome 1500 Euro. over the low season.
Right, now let's expand on that and if you rent out for 6 months during the high season and just 4 during the low season, you would rake in an amazing 21.600 Euro in rental income. Things are looking good already but out of that we must account for certain payments such as rental management and community fees, so make sure you find a recommended property management agency, although the costs will not succeed 1000 Euro. per year.
So if your fancy buying a property and renting it out why not try Northern Cyprus, over 2.6 million people visited Cyprus last year and this number is growing year by year, so you can see there is a massive market for renting. The blog at CyprusInformer.org is a very useful guide that we assist you in making the right decision on property in Cyprus. - 15266
If you are considering this type of property investment then you need to study the total month times for the Low and High seasons. Let's take Northern Cyprus as an example which has about a seven month high season and the rest is low and let's add to that over 300 days of clear blue skies. You can see why so many people want do get away from dull days and get straight over to sunny 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 totaling 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.
The statistics available on rental income in Northern Cyprus show that properties can be let out for up to 10 months per year. So if we put the property we have just bought into the equation, we can expect an amazing 2600 Euro. in the high season and an awesome 1500 Euro. over the low season.
Right, now let's expand on that and if you rent out for 6 months during the high season and just 4 during the low season, you would rake in an amazing 21.600 Euro in rental income. Things are looking good already but out of that we must account for certain payments such as rental management and community fees, so make sure you find a recommended property management agency, although the costs will not succeed 1000 Euro. per year.
So if your fancy buying a property and renting it out why not try Northern Cyprus, over 2.6 million people visited Cyprus last year and this number is growing year by year, so you can see there is a massive market for renting. The blog at CyprusInformer.org is a very useful guide that we assist you in making the right decision on property in Cyprus. - 15266
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check out this Cyprus Holiday Rent to Buy property investment blog edited by the renowned Tim Martins and check out The Cyprus Property Investment Secrets
