Are you moving to Cyprus?

Still don’t know if you should rent or buy? Then, let’s discuss the cons and pros of renting and buying🏡.

Pros and cons of buying:

Pros:

Real estate – is a significant asset. Buying a home can serve as an investment.
Cyprus has one of the largest returns on the investment for real estate.
You have complete freedom and privacy.

Cons:

Growing Interest Rate.
Inflation.

Pros and cons of renting:

Pros:

You have 100% freedom and flexibility.
No maintenance costs.
If you’re not sure about staying in Cyprus long term – renting is a good solution.
While renting you might afford an apartment or housing larger or in better areas.

Cons:

You cannot build equity, as the rental home will never be your asset.
Many homes have a ”no pets” policy.
You cannot make any change without the landlord’s approval.