Living the Dream
If you are planning to buy a asset in Greece or even just mental about it you will need a guide to help you though the Greek asset purchasing process. Whether you dream of a beach villa, hamlet house or an apartment in the town, it is important to avoid the pitfalls of buying a asset in Greece in order to make your dreams come true.
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The Dream Verses Reality
In your favourite daydream you have decided to leave your present home behind you and settle in other country. You pack your belongings and leave your country behind. You can fantasize the tiny table, chair and parasol on your terrace overlooking the beach. You are watching the sun set peacefully into to azure sea, while drinking a glass of local red wine and eating olives hand picked from your own trees. You are relaxing away from the stresses and strains of your current life and enjoying a life that you so rightly deserve...
Well, we all have fantasies but, this is the real world and things are simply not always that easy. Are you planning to book a cheap holder holiday for a week or two, spend a integrate of days finding around, and then buy the perfect tiny house on the spot? Or have you in fact understanding about what's complex in purchasing a asset in Greece? Have you done your homework, research and planning? Do you know where you want to live when you reach your dream destination? A tiny send planning will help you accomplish your goal of living the dream. It's much better than leaving things to chance.
What do I in fact want from a asset in Greece?
The first query you should ask yourself is exactly why you wish to buy asset in Greece. For example, are you finding for a resignation or holiday home? Do you want a summer, winter or permanent home? Are you seeking a sound venture or do you wish to work or start a business? Probably you will find that there are a whole of reasons you wish to buy a asset in Greece. If this is the case there are many more factor to take into consideration then just buying a holiday home. Take some time to settle what kind of asset you would like to purchase, and then discuss your ideas with your partner and family. If you are at all unsure of what or where to buy, the best decision is commonly to rent for a while first.
When buying a asset you need to consider where you would like to live. Resorts are provocative in the summer, but may be crowded with tourists. However, in the winter they may be fully closed, with nothing in the way of facilities or shops. In the mountains or villages a few kilometres in land you will probably be a part of a kindly hamlet community, but if the hamlet is remote no-one may speak your language, so you will have to learn theirs quickly. other selection is to excel at mime. You can make many friends among the villagers this way and have great fun too.
Financial Considerations
One of the most important aspects of buying a asset in Greece and living there is finance, which includes all from transferring and changing money to mortgages and taxes. If you are investing in asset or a firm it is important to consider the replacement rate. Take a realistic look. It is easy to fantasize that you have more money to spend on your dream asset than you in fact have. The cost of purchasing a house and costs of repairs can spiral dramatically without you being ready for it. If you need to borrow money to fund your dream property, be truthful where you borrow the money from.
Many mortgage fellowships will not lend money for asset overseas. It may seem trivial to mention, but always remember that if you borrow money to buy property, or to rebuild it, you have to pay the money back! This statement is one that should be at the forefront of your mind when you are making your plans. It's advisable to have your finance in place before your inspection visit. If you see your dream home you will be able to buy it without any delays. This way you will not miss out.
Do not count on holiday lettings for your asset to tourists during the months you are not there. In the last two years there has been a decline in the tourism in most parts of Greece, and earnings from letting asset has declined with it. To let out rooms legally, you must have a license from the Greek Tourism Board. You must also fulfil fire and safety regulations, and you must pay tax on this income. Authorities are having a clamp down on illegal lets, and fines are enormous!
If you are planning to move constantly to Greece, unless you have adequate incommunicable earnings for you to live well on, you must consider employment in the place you are going to live. You must ensure that this will be inherent before you buy a house. What kind of job can you in fact expect to do? What are your qualifications and experience? Are they recognized? Do you speak fluent Greek? Unless your Greek is fluent you wont be completing on equal terms with the local workforce (you wont anyway, but that a distinct issue!). Most Greeks aren't curious in employing population who do not have a good knowledge of the Greek language unless it deals exclusively with foreigners. Are there any jobs in your profession or trade in the area that you plan to live? answer to these questions and others can be quite disheartening. However, it is better to ask them before provocative to Greece, rather than afterwards.
The Greek equivalent of the English Job Centre is the Oaed which has a extra branch for Europeans seeking work, although you should expect it to be easy to find a job. Unemployment rates in mainland Greece is generally high. It is higher still on the islands. Some islanders can only find work during the summer season, when tourists visit. This means they Whether have to save adequate money when they are working to live on during the winter, or learn to survive on unemployment advantage in the winter months. Unemployment advantage is only paid if they have adequate national guarnatee stamps credited to them over eighteen months. Working one summer season will not earn you adequate to be paid benefits. If you are self employed in Greece you are not entitled to benefits at all.
Looking For Your Dream Greek Property
After you have answered all these query and more your will be ready to start finding for a asset to suit you and your family. Now do your research. The internet is a helpful tool. Listed below are links to relevant articles and facts about asset and the prefecture of Messinia which will help with your research.
Take notes about the kind of properties that are ready and their location. Also note down any that are just below your price range (just below, because you will need some money to pay for taxes, legal fees, and incommunicable costs of buying property). Discuss the properties that you have found with your family and friends. Find out about the area to see if it suits your requirements. Study maps and guide book descriptions of each location.
When you have established what your requirements are touch the real estate sites you have been finding at. Find out if the online asset list is up to date, quite often agents only advertise a small selection of the properties that they have available. Let the agents know your full requirement (be as detailed as possible) and leave your up to date touch details with them. Ask the agents to let you know when any convenient asset comes up. This will make it easier for them to narrow down the crusade so you do not spend months finding at unsuitable properties.
If you intend booking a holiday in order to view properties, it is important to let the real estate agent know you are going to be arriving at least a integrate of weeks in advance. Tell the agent where you will be staying. Take a movable phone with you that works overseas, so they can touch you if they need to. The agents will be able to arrange viewing of properties for you while you are in the country, and hopefully, will be able to find any properties in each area you are curious in.
Be open minded, it may be worth inspecting purchasing a plot of land, rather than a house that already exists. Develop and build properties are easy to find and are a very favorite choice. Check if the plot has planning permission. It is often self-acting if the land has road frontage, with all services (water, etc) nearby. If the land is within the town planning area it should also be buildable, but always check, and get it in writing. Prefabricated buildings are ready in Greece now, they can be built by the manufacturers, or by yourself. If you plan to build any asset yourself you it is important to remember that you have to build to Greek and European construction and safety regulations. These are very distinct from Uk regulations. All buildings must be built to withstand earthquakes, for example!
When you have found the asset you would like to buy, it is advisable to get a recognize done. This is a step that is often missed out in Greece. Some areas are prone to flooding, earth tremor damage, or sink holes (A large hole that suddenly appears in the earth when the limestone under is eroded away by water). Save yourself a lot of trouble in the hereafter by paying for a good survey. When you have found a good lawyer (who speaks your language, as well as Greek) and a good accountant (to sort out a tax whole for you, and some financial details), you are ready to make an offer.
It is general to pay a deposit of 10 - 20 % of the agreed buy price. This seals the touch between the jobber and buyer. If the jobber pulls out (which is unlikely) he must return the money plus the same whole again. If the buyer pulls out the deposit is forfeit. However, if previously known problems are revealed the deposit will automatically be return. asset buy is generally completed in a short period. It can take as tiny as 48 hour to 2 weeks. However, if the jobber has not collected all the valuable documents for the transaction, it can take up to 3 months. You must not pay the full whole until all the documents are in place and your lawyer has made it all legal!
Good Luck with the buy of your dream Greek property. Enjoy your tiny piece of Paradise, you've earned it.
Buying property in Greece - The Dream Verses Reality
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