First Time buyers: how to Buy a Property in Cyprus in 2021
Deciding to buy a home is not something that happens overnight. It is a crucial decision. The investment opportunities are many in a wide range of prices. The real estate market is in permanent movement and dynamism, so you must be prepared to make such an important decision.
It is not just about choosing a real estate agent to do all the work for us in the Cyprus marketplace. It is much more than that. For now, we must be determined to want to buy a house. That is the starting point in the Cyprus real estate world. And it is a decision that is not made alone but as a family—that way, the correct path is chosen.
To begin with, we must know how much we can pay for the house of our dreams. We have to be very clear with this assessment. There is a wide variety of property for sale, but that doesn't mean we can buy them all.
The initial savings is key to knowing the value of the property that we are going to buy. In addition to saving, and if we have a good income from our work, we can access an excellent mortgage loan in the property market.
For this, prior approval is critical, allowing us to know what our horizon is and thus better choose the property we can buy.
An estate agent is a suitable person for this stage. They know precisely how to advise us when buying a property. They see the investment opportunities like no one else, and that is a plus that is worth paying for.
Together with our estate agency, we will start looking for the house we want to buy. It will not be an easy path, but the advice will allow us to identify better the property prices and everything that has to do with property taxes, land registry, stamp duty, and legal fees of a house.
Knowing that we are ahead and having made some preliminary selections, we can make an initial offer for the house that we like the most. If we can get to this point, the most important thing will be to do a home inspection, an action that a specialist always carries out.
This inspection will yield a result, which will undoubtedly influence the final price of the property. Also, it can generate actions by the seller, who must adapt the house to the required conditions. With all this, we will make a final tour of our new home. If everything is in order, we will be able to sign the purchase and sale ticket and become the owners of a new residence.
It is a long way, but it is worth it. The important thing is always to be advised by professionals and suitable. It is the only way to reach a prosperous port.