It’s easy to get over-excited when searching for a property for sale in Paphos that you may jump in too fast. We all get carried away at times such that we skip the small print. Of course, it’s a fun time but it’s worth paying attention to what to expect when reviewing properties for sale. You’ll therefore be in a better position to avoid pitfalls.
What to Expect When Searching for Property for Sale in Paphos
There are clearly a few moving parts to any real estate project, including Paphos Cyprus. However, you can do your research and plan ahead by reviewing the following key themes:
- Matching your goals
- Developers and lawyers
- Towns and villages
- New weekly listings
- Taxes and fees
Matching your Goals
The first thing is to start with what you want to search for, including the number of bedrooms and bathrooms. It’s also helpful to have an idea of the property type or floor apartment that you prefer but this isn’t essential. In fact, you might want to leave that decision open and get your property developer to show you the different apartment buildings they have in their portfolio. They might also be able to offer you your ideal villa, bungalow or a detached house.
You might also decide that you want to leave the choice of the area open. Having said that, searching for property for sale in Paphos is a good place to start. It’s a picturesque coastal town with just the right balance of quiet and buzz. If you’re already in Cyprus then the best thing to do is to drive around. You’re bound to enjoy visiting Coral Bay as well as the heritage sites and the various villages.
Developers and Lawyers
Once you have an initial idea of what you want then it’s a good time to appoint a property developer. Take your time with this step and make sure you interview at least 2 or 3 agents so that you can compare style and approach. You should also make sure that you check their license and track record.
You don’t actually have to appoint a lawyer but it’s usually a good idea especially if you’re new to searching properties in Cyprus. Essentially, they will be responsible for carrying out all the property checks such as ownership and existing debts. In addition, they’ll draw up a contract of sale and even sign it on your behalf if you’re not in Cyprus at that stage. Finally, they register this contract with the District Land Registry Office. They then support you through the bank reference checks before completing the sale.
Towns and Villages
Cyprus in general offers many different towns and villages. More specifically, the Paphos District includes Coral Bay as well as the idyllic villages of Chloraka, Kissonerga and Tremithousa. Let’s also not forget the Aphrodite Hills that houses several luxury townhouses and other condominium-style properties for sale in the area. Either way, there’s plenty of choices to find your dream house.
New Weekly Listings
It’s worth remembering that there are new listings every week so that you don’t have to rush into anything. You should actually do your research and take your time to make sure you’re comfortable with your choice of housing in Cyprus. Furthermore, try to look for the details such as the condition of fittings when visiting the properties for sale. Another point to remember is to ask about the ownership costs. For instance, many properties for sale are also managed throughout their lifetime for upkeep and access to other facilities. This can be a great advantage but don’t let yourself be surprised by the extra cost.
Taxes and Fees
Searching properties for sale and then deciding to buy always involves costs. Most people find it a surprise at some point throughout this process. Your agent and lawyer can advise you but it’s worth noting that you’ll need to cover tax, stamp duty, bank charges, surveyor, legal and Land Registry fees. On top of that, you’ll also be paying your agent’s fees and commission.
Once you own your property you might also want to consider house insurance as well as updating your will. European law is different for inheritance processes and you might want to choose something different for your family. This is where having a lawyer can be very helpful.
Final Recommendations on Property for Sale in Paphos
If you have a good agent and a good lawyer then you’ll be in a good position. They will guide you through the process and help you manage the risks. It’s still good to do as much research as possible so that you know what questions to ask. However, take your time choosing your lawyer and agent and you’ll be the proud owner of a Cyprus house in no time.