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Cyprus Self Build Property
Unlike the more
traditional ways of becoming
a property owner on the island, self build is, and probably always
will be, the route only the extremely confident and experienced
investor will take.
It has the potential to be laden with pitfalls
and difficulties, and to the unwary this can prove very costly in
both time and money. For the ones new to the idea of self build,
the concept works as such:
Firstly you find your ideal plot
of land
With the assistance of architects and designers you
design the proposed property
Tenders are then invited from prospective
builders
It is recommended that a building permit is secured
at this point before the next stage
Once you have selected a
tender, building commences
The Benefits Of Self Build
There are numerous
benefits to self build projects. Firstly, you get to decide on all
the specifications, design, fixtures and fittings of your property.
With the assistance of an Architect/ Designer, you have control
of the whole initial design phase.
You are also free to choose
your own builder and not be tied to the developers builder.
There
are no hidden costs or surprise extras which are often implemented
by developers, much to the annoyance of purchasers.
The quality
of construction should match or surpass the build quality of a more
mass produced property.
What to watch out for when Self
Building
Initially, when
purchasing the plot of land on which to build your property, you
will undoubtedly spend time viewing various potential plots. At
this early stage, when viewing the land for sale, always be sure
the land you see is in fact the land you will get. If in doubt,
ask to see a copy of the title deeds.
It is also very important
to check access to the plot. Even if there is a road running across,
it doesn't necessarily mean you have the right to use it. If there
is no right of way to your land, planning will automatically be
refused.
Once you have found the ideal plot, check to see if
the town planning zones will affect it in any way, as once the land
is purchased, you do not want to find your neighbours are in the
farming zone, and intend keeping livestock.
Finally, any self
build project will warrant a commitment from you in time and effort.
In the early stages of Design and Build you may well be working
on the project for several days a week. After all, this is your
money and your investment, so to keep the build on track will either
require some serious input from yourself, or you can hire the help
of a Project Manager to look after your interests.
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