Perhaps you’re in that enviable position that you’re ready to buy your second house? There are many reasons for purchasing a second property. Regardless of those reasons, looking for property for sale in Paphos is a great place to start.
Why Buy A Second House
- Investment
- Retirement
- Buy to let
One of the most common reasons for buying a second home is as an investment strategy. Real estate is still considered one of the most secure ways to place your money. Of course, it’s always wise to have a diversified portfolio because even real estate has its ups and downs. Also, you should never put all your money into properties as you risk the roof over your head. Whatever option you follow when it comes to financing, just make sure that you won’t end up bankrupt. For more check Purchase houses.
Many people plan to retire by the sea. After all, it’s a healthy place to be that’s far less stressful than a busy city. Also, you’ll be able to enjoy a warmer climate with food that’s better for you and often simpler and less heavy.
Depending on your investment strategy, you might decide to buy to let. Clearly, you’ll have to do your calculations to make sure this is profitable for you, especially if you have a mortgage. Having said that, if you’re looking for property for sale in Paphos, then it’s more likely that you’re investing without a mortgage. It does make things easier as a foreigner. However, both options are available.
Why Look for property for sale in Paphos?
- Lifestyle
- Residency and citizenship
- Culture and history
- Entertainment and sport
- Infrastructure
Lifestyle
You might be asking yourself, what’s so great about Paphos? In fact, all of Cyprus has a lot to offer. Although, only you can work out which area or which town is the one for you. Nevertheless, Paphos offers a laid-back style with all the advantages of a city. You’ll feel relaxed as soon as you walk off the plane.
Residency and citizenship
Let’s not forget that Cyprus is one of the easiest passport countries. The process for getting citizenship is relatively straightforward and quick. With the right investment, you can expect to get your passport within around 6 months. This is aimed at high net worth individuals, though, because the minimum amount to invest is over 2 million euros.
Culture and history
The richness of the culture and history in Paphos and Cyprus, in general, is phenomenal. The goddess Aphrodite herself is said to have first set foot on land in Paphos. The fact that the goddess of love and beauty-focused on Paphos says a lot about the area. It’s a UNESCO heritage site, so you’ll also be able to brush up on your knowledge of Ancient Greece.
Entertainment and sport
Having said that, Paphos is calm and relaxed doesn’t mean that you can’t find what you want when it comes to entertainment. You can expect great restaurants and bars as well as cinemas and shops. You’ll have access to anything you pretty much want.
Infrastructure
Last but not least, Cyprus as a country works. Therefore, when you’re looking for property for sale in Paphos, you can rest assured that you’ll be supported by a reliable legal and financial system. The country and the economy are both safe, which also means that it’s a wise investment choice.
Process for Searching property for sale in Paphos
- Property developer or real estate agent
- Get an independent lawyer
It might sound obvious, but you’ll need an agent when looking for property for sale in Paphos. You can either work with a real estate agent or a property developer. It’s really up to you to do your research, compare prices and approach and see which style works for you. Although, it’s worth noting that property developers tend to offer more high-end properties. They’ll often also be able to provide you with other services such as legal or financial.
Regardless of how reputable the agent is, it’s always important to have an independent lawyer. Many property developers offer that service, but sometimes it can be helpful working with an independent party.
Final Thoughts on the property for sale in Paphos
It’s always essential to plan and do your research when dealing with real estate. Of course, it’s impossible to obliterate all potential risks by not investing. However, the more you plan, the more likely you’ll make a wise investment. Therefore, you should talk to different agents, research the various areas and market trends, and find the right people to work with. You should also make sure you have made a full list of all the costs to avoid any nasty surprises down the line. These not only include purchase price and commission but also legal, tax, and other third-party fees. So, take your time to plan and do your research. Your dream house will be yours before you know it.