New and shiny is fun and appealing. Sometimes though, it hides a dark side. The same holds for real estate and buying property. Although, there are some huge benefits to buying a newly built home and you can easily mitigate any potential risks when searching for property for sale in Paphos. In fact, learn more about how this established team ensures quality and efficiency.
Things to Consider when Buying New Property for Sale in Paphos
Any property investment requires some risk management. That’s why there’s a due diligence process. When it comes to searching for a new property for sale in Paphos though, there are a few extra nuances to look for, as described below:
- Title Deeds
- Land encroachment
- Planning approvals
- Project completion
- Debt and payment plans
Title Deeds
One of the most important things to check with any property type in Cyprus is ownership. This applies whether you’re located in one of the villages such as Kissonerga and Tremithousa or up in the Aphrodite Hills and across Coral Bay or even in Kato Paphos. In fact, this applies all over Cyprus because there have been issues in the past where developers or previous owners passed on some heavy debt with the properties they were selling. The good news though is that you can easily verify this information with the Land Registry Office or with your property lawyer.
Land Encroachment
Another point that could be a problem for new developments is whether they encroach on any neighboring land, especially around the villages across Paphos District, such as Peyia. This is more likely to happen with a detached house but it’s still worth getting a surveyor during your due diligence process. They’ll be able to advise you that everything is in order.
Planning Approvals
Clearly, you don’t want to end up with a property that hasn’t had all its permissions fully approved. Again though, your property lawyer will be able to verify this for you regardless of the area you’re located in across Cyprus.
Project Completion
The best part of getting a new property is that you can be part of the project and input into the design. This is true whether you’re getting a bungalow, villa, or detached house. Nevertheless, you should make sure you’re happy with the details of the project and any potential delays. Unfortunately, that’s what could even stop you from moving into your new property in the timeframe you’re expecting.
Debt And Payment Plans
Last but not least, your property lawyer will help you check that there are no debts that could be passed onto you when you finally make the purchase in Paphos Cyprus or elsewhere across the island.
Why Search for New Property for Sale in Paphos?
Let’s not forget the huge benefits of buying newly developed properties in Cyprus, as detailed below:
- Customize
- Modern
- Warranty
- Safety features
- Energy efficient
Customize
When working with a property developer, you can make your future home as unique as you want, including being creative with whether you have one bedroom per bathroom or a different ratio. Why not go a little crazy? Perhaps you have a penthouse floor apartment and you want to include some decorative alcoves? What about designing a pool that goes into the ground floor of your detached house? Anything is possible for any property type.
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Modern
It’s always more pleasant knowing that you’re the only person who’s ever used a house. Also, you’ll have all the modern systems so you have less chance of constantly needing to repair things like you have to in old houses. Instead, you’ll have all the comforts of a modern home. Furthermore, you’ll be surrounded by the idyllic landscape of Paphos or even the Aphrodite Hills. What about a stunning balcony with its large modern bay windows overlooking the Sea Caves? Again, the blend of modern and nature can only make you feel special and content.
Warranty
Most property developers will also give you a few years, even up to 5 years, of warranty. That’s always a great reassurance that you don’t have to worry about things breaking.
Safety Features
With new properties for sale, you’ll necessarily benefit from modern looks and security systems. Landscaped gardens with automated irrigation systems are also part of the modern offering.
Energy Efficient
Older properties can be tough to maintain. This is partly because everything is always breaking and partly because of the energy they waste. It gets very hot during the summer in Cyprus. However, with new buildings, at least you know that the coolness from your air-conditioning will be kept indoors. Furthermore, all new buildings in Cyprus have efficiency ratings of A or B so it will also save on your heating and cooling bills.
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Parting Words on Searching for New Property for Sale in Paphos
It’s great fun and highly rewarding being able to work with a property developer and being involved in the designing of your future home. Of course, there are some risks you’ll need to mitigate, often with the help of a lawyer. These include verifying your title deeds and project completion details. Nevertheless, there are so many benefits from having a new property with all its modern features that you can easily manage any risks. You’ll be the first-ever owner of that property that you’ve made truly unique.
