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Real Estate Tips > For The "Village Cottage" Purchaser

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.

  1. 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.

  2. 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 updated telephone service, the nearest doctor, the frequency of the local post, public transport etc.

  3. 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.