Cyprus is a beautiful place with friendly people and a great property market. The island offers plenty of opportunities for new homeowners who want to buy a house in Cyprus or invest in properties for short-term rental income. However, there are many pitfalls that can cost you money and time if you’re not careful.
Here are some tips for buying property in Cyprus:
Find a local real estate agent
If you’re looking to buy a house in Cyprus, it’s important that you find a local real estate agent who has experience with the area where you want to buy.
You should ask them if they are registered with the Cyprus Association of Estate Agents (CAEA). If they aren’t registered, that means they aren’t insured and could be operating illegally. You should also ask for references and testimonials from previous clients so that you can see what their previous clients thought about them.
You should also ask how long they have been working as an estate agent in Cyprus – this will give you an idea of how experienced they are at finding properties in different areas across the island.
Get help from your bank
The first step in buying a house in Cyprus is to find out which bank or financial institution has the most experience with this kind of transaction, as well as how much money you can borrow. A good place to start is by asking friends and family who have purchased property in Cyprus before for recommendations on which banks they used, or simply searching online for information about different lenders’ policies regarding mortgages on real estate abroad.
It’s a good idea to see a lawyer before you sign any contracts.
It’s a good idea to see a lawyer before you sign any contracts. Not only will they be able to advise you on the best course of action, but they can also draw up the contract in such a way that it doesn’t give either party too much power over the other. They’ll make sure that everything is legally binding and fair, and that it isn’t misleading or illegal or immoral in any way.
Decide on a location
When you’re in the market for a house, location is everything. You want to be close to the beach, but not too close; close enough that you can walk there in 5 minutes or less and have time left over for lunch with friends at one of Cypruss’ many restaurants along the way. You also want to be within walking distance of the city center so that when it rains and everyone else stays indoors because they don’t have umbrellas (because umbrellas are so 2017), you’ll be able to pop into any number of shops or cafes without getting wetter than necessary.
And don’t forget about the schools! If there aren’t any good ones nearby then where will your kids go? Not only do they need good education but also access to healthcare facilities such as hospitals and doctors’ offices so that if anything happens during school hours like falling off monkey bars or getting stung by bees–which could happen anywhere–you don’t have faraway places where help might not come quickly enough before things get worse…
Consider buying a new build house or apartment
If you’re thinking of buying a house or apartment in Cyprus, it’s worth considering the option of buying a new build. New builds are often more expensive than resales but they do come with a variety of features that can be hard to find in resales and they are usually built to a higher standard than resales. In addition, many new builds are energy efficient so they will help save money on your bills over time.
Don’t just take the first offer on a house
When you’re house hunting, it’s tempting to take the first offer that comes along. But don’t be afraid to walk away if you don’t like what you see or feel like the price is too high. In fact, one of the best ways to get a good deal on a home is simply by being willing to walk away from bad deals–and there are plenty of them out there! If something doesn’t feel right or seem affordable (or both), then move on until something better comes along–and remember: there will always be another house somewhere else in Cyprus!
Don’t rush into buying a property that you haven’t seen first.
When you’re buying a house, it’s important to make sure you know what you are getting into. Don’t rush into buying a property that you haven’t seen first.
Make sure the property is what it says it is on paper, and get a lawyer to check out the paperwork before signing anything. Hire a professional property inspector who will check all aspects of the house for faults such as leaks or cracks in walls or floors, blocked drains etc., which could cost thousands of euros to repair later down the line if left unchecked now!
Don’t forget to ask about a house’s history (who has lived there, etc.).
- Don’t forget to ask about a house’s history (who has lived there, etc.).
- Ask about any renovations that have been done.
- Ask about any improvements that have been made.
- Ask about any problems with the property and if they have been resolved or not, if so when was this done?
- Ask yourself if you think these issues will affect your decision to purchase this property and make sure you are comfortable with all aspects before proceeding further with your purchase.
Find out what your budget is and stick to it
It’s important to know what you can afford before you start looking for a house. A good way to find this out is by setting yourself a budget and then sticking to it. If you don’t have enough money, look at houses that are cheaper or rent instead of buying.
Budgeting is an important part of life and will help keep track of how much money you spend on things like food, clothes, and entertainment so that it doesn’t go over your set amount each month/year (depending on how often the bills come out).
We hope that our tips have helped you get started on your search for a new home in Cyprus. If you have any questions at all, don’t hesitate to reach out! Our team can help you buy a house in Cyprus, in no-time!