The perfect home looks different for each one of us. Some people dream of living in a luxurious villa on the seafront while others prefer a cosy apartment in the city centre.
When deciding what kind of residential property you should invest in, make sure to take into account your preferred lifestyle, your long-term goals, and the needs of your family.
In this guide, we discuss the top reasons to invest in a house and an apartment in Cyprus, so you can make an informed decision for the future.
Reasons to invest in a house
- Return on Investment (ROI). One of the biggest benefits of investing in a house is the stable return on investment — whether you plan on renting or selling in the future.
- With a house, you typically have more privacy which also means you can do whatever you like without worrying about neighbours — social gatherings, parties, loud music, you name it!
- When owning a house, you don’t have to worry about parking. There are usually enough parking spaces for everyone in the household.
- If you are a pet parent, then you know that a house is much more comfortable for you and your four-legged friends. Plus, your dog will love you even more if you have a garden.
- Less noise. Since you don’t share a wall with other people, living in a house translates into less noise coming from the surroundings.
Reasons to invest in an apartment
- Living in an apartment is easier to maintain — lower utility bills and less cleaning costs. Plus, some maintenance costs are shared between all the residents.
- Affordable alternative. If buying a house is out of your budget at the given time, then an apartment is an affordable alternative. You could invest in a 1-bedroom or 2-bedroom apartment, depending on your needs and budget.
- Closer to the city centre. Apartments are often (but not always) located closer to the city centre, within a walking distance from stores and restaurants. This means you might save money on transportation costs.
- More manageable. It’s easier to take care of a smaller space, especially if you don’t have the help of a housemaid or household.
So, apartment or house?
The truth is, there’s no right or wrong. Each type of property comes with its own set of benefits and drawbacks, but essentially it boils down to two things: cost and privacy.
While apartments are best suited to people looking for more free time with fewer responsibilities, living in a house offers much more space, freedom, and peace of mind.
If you’ve made this tough decision, it’s now time to think about the location — each city has something different to offer in terms of living, costs, and entertainment!