The "Village Cottage" Purchaser
There is an increasing tendency by locals and
foreigners (in particular the German and British) to acquire old
village houses which are subsequently improved/ converted into
modern residences. Before the "craze" of village cottages started,
there were some real bargains for this type of property.
Nowadays cottages of character and colour are
relatively expensive and they amount, together with the repair/
improvement bills, in excess of what a new villa of the same size
would cost. The best approach to buy a cottage is to visit the
village of your choice yourself and seek information from the
village muchtar (the chairman of the village parish). It is
evident that the less popular the village is by foreigners, the
lower the cottage's price. Bargains can still be found at the
remote villages of Pafos and those of Limassol and Larnaka.
It is strongly suggested that before concluding a
deal, you obtain a firm estimate of the repairs/ improvements
required, using the services of a qualified Q.S. or an architect
whereas what has been said previously about other property
acquisitions holds good for this nature of property as well. In
particular, you must check who your neighbours are, since in
tightly knit communities, such as the local villages, people
have there own way of living and attitudes towards life.
Check whether your neighbours keep any animals in
their yard, since if they do, the smell may be unbearable. Check
also the distance from the town, the access, whether there is an
telephone service, the nearest doctor, the frequency of the
local post, public transport etc.
Bear in mind that the cottage may be eligible for
an improvement grant from the Government, if it is of historic
interest which could amount in cash grands plus sale of
development rights covering upto 60% of the total improvement
cost. Your architect can advise you on this. Restored buildings
attract also tax exemptions.