The costliest error is taking legal advice from the other side. The seller gets a commission when the deal closes, which differs from protecting the buyer. An independent lawyer represents a modest share of the price and is the single best safeguard.
Signing in a language you do not speak is nearly as costly. An official translation is inexpensive set against what is at stake. Verbal assurances will not help when the written text differs — only the signed text matters.
Committing to an unbuilt project blindly has wrecked many budgets. Before any payment, examine the developer's completed projects, the construction licences, and whether payments are held in escrow. Projects running behind schedule are common even in good markets; stalled projects are the exception but far worse.
Forgetting about resale is a subtler error. Any buy property in paralimni will eventually be sold, and the pool of future buyers decides what you get back. A unit that only appeals to foreign buyers is harder to move when sentiment turns.
Last of all, plenty of purchasers underestimate the ongoing obligations. Tax filings are often required regardless of whether the cyprus property management earns anything, and missed deadlines generate fines nobody warns you about. Arranging a local accountant from the first year avoids the majority of these headaches.