FILED UNDER SOMETHINGISRAELI >> Travel
If you travel on a regular basis to Israel and are fed up with the cost of renting somewhere to stay, then you may well like to consider buying your own pad. Not only will you get a place to stay while you are out there, but you can also rent out to others while you are not there.
Billed as the Second Home in Israel, the apartment block building at Kfar Maccabiah in Ramat Gan offers an eight story luxury building with 124 apartments. Many of them are one bedroom, but there are also some two bedroom units as well.
Situated next to the Kfar Maccabiah Hotel and set in over 22 acres of land, the Second Home offers various facilities including a sports club as well as other leisure facilities and catering including a bar, cafe and restaurant.
The building will be ready for occupation from November 2007 and prices start from around $170,000 for a one bedroom and $250,000 for a two bedroom. Currently, there are only a few two bedroom apartments remaining.
Provided also that owners agree to allowing their apartment be let out to other guests of Kfar Maccabiah while they are not there, then monthly maintenance fees are waived and the owners also receive rental.
Payment for ownership is staged over a two year period between now and November 2007 with 25% due on agreeing to buy an apartment. Other costs involved in buying an apartment include purchase tax, and lawyers fees.
A special mortgage facility ifs also available which requires a 50% deposit and a lending facility that is only secured against the apartment.
For more information: www.2nd-home.co.il