Real estate is a great investment choice but it can also be full of small print. This shouldn’t put you off though because it simply means doing a bit of research and planning ahead. Furthermore, you should get support from the right teams to guide you through the process. This company, for example, is one of the more established property developers. You can easily contact them to help you with searching for property for sale in Paphos.
The Small Print when Searching for Property for Sale in Paphos
When launching into your project to explore properties for sale in Paphos, there are a few things you can look into to help make this as successful as possible, as listed below:
- What do you want to achieve?
- Finding a property developer
- Appoint a property lawyer
- Taxes and fees
- Amend your will
It might sound obvious but many people jump straight into real estate without knowing what they want. They then get influenced into buying something that’s not quite right for them. Clearly, you should start with how many bedrooms and bathrooms you need. Nevertheless, you should also have an idea of what kind of area you prefer. For example, do you like being only within walking distance to the shops and restaurants or do you prefer peace and quiet?
The good news is that you can find whatever you need in the Paphos District. This is because you have Kato Paphos in the town center as one option. You can also choose from the surrounding villages. These include, for example, names such as Chloraka, Peyia, Talla, Tremithousa, Kissonerga, and the well-known Universal. Each offers its own charm but all provide every modern amenity you could wish for. Of course, properties will be larger as you get out of town because there’s more space. Regardless, you can pretty much find the full range of property type options across the whole of Paphos District. To give you an idea, these are your typical bungalow, visa, and detached townhouse listing options.
Many might tell you that you can search property for sale in Paphos on your own. Whilst there’s nothing stopping you, this can be full of potential mishaps waiting to happen. Every country has its nuances when it comes to real estate. This is especially true if you’re foreign and looking to expand your portfolio on the Mediterranean.
Luckily, there are many property developers to choose from. Although again, it’s worth doing some research before you sign up with someone. Interviewing a few agents can give you a good idea of what to expect as well as their style and approach. Whoever you decide to go for though, make sure you check their registration and certification details as well as any references and track record.
Appoint a Property Lawyer
Again, most people, including property developers themselves, will often tell you that you don’t need a lawyer. In fact, not all property developers have an in-house legal team. However, an external lawyer will be sure to create a non-biased contract of sale for you. They’ll also do proper due diligence such that you don’t get any issues further down the line, including with title deeds, for instance. Things can and do go wrong. You’ll therefore be grateful for the extra support to make your buying experience as seamless as possible.
Taxes and fees
Everyone knows that there’s a bill to pay at the end of the buying process. However, not everyone is upfront about what those costs involve and how much they’ll be. One way to avoid surprises is to get everything detailed in the agreement you sign with your property agent. The main ones to look out for though are stamp duty, reservation fee, Land Registry transfer fee as well as your agent’s and lawyer’s fees and commission.
Last but not least, don’t forget about the running costs of your property once you become the owner. Many properties come with residential property management costs that you don’t want to be surprised by.
Amend your will
Finally, most people forget how buying property, especially if this is abroad, impacts their will. European law works differently when it comes to inheritance rules and there are many assumptions as to who the assets get passed onto. Therefore, you might want to consider amending your will if you wish to follow a different process.
Final Recommendations for Searching for Property for Sale in Paphos
When reviewing properties for sale in Paphos, make sure you do your research and find a reputable property developer to work with as well as a property lawyer. Be clear about what you need but let them guide you also because they’ll have the inside knowledge and market expertise. You’ll then be able to experience a more relaxed process as you find that dream home.