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Buying Property In Messinia Greece
b>Living the Dream your own trees. You are relaxing
away from the stresses and
If you are planning to strains of your current life and
purchase a property in Greece or enjoying a life that you so
even just thinking about it you rightly deserve.
will need a guide to help you
though the potential minefield. Well, we all have fantasies but,
Whether you dream of a beach this is the real world and things
villa, village house or an are simply not always that easy.
apartment in the town, it is Are you planning to book a cheap
important to avoid the pitfalls package holiday for a week or
of buying a property in Greece in two, spend a couple of days
order to make your dreams come looking around, and then buy the
true. perfect little house on the spot?
Or have you really thought about
The Dream Verses Reality what’s involved in purchasing a
property in Greece? Have you done
In your favourite daydream you your homework, research and
have decided to leave your planning? Do you know where you
present home behind you and want to live when you reach your
settle in another country. You dream destination? A little
pack your belongings and leave forward planning will help you
your country behind. You can achieve your goal of living the
imagine the little table, chair dream. It’s much better than
and parasol on your terrace leaving things to chance.
overlooking the beach. You are
watching the sun set peacefully What do I really want from a
into to azure sea, while drinking property in Greece?
a glass of local red wine and
eating olives hand picked from The first question you should ask
yourself is exactly why you wish of facilities or shops. In the
to purchase property in Greece. mountains or villages a few
For example, are you looking for kilometers in land you will
a retirement or holiday home? Do probably be a part of a friendly
you want a summer, winter or village community, but if the
permanent home? Are you seeking a village is remote no-one may
sound investment or do you wish speak your language, so you will
to work or start a business? have to learn theirs quickly.
Probably you will find that there Another option is to excel at
are a number of reasons you wish mime. You can make many friends
to buy a property in Greece. If among the villagers this way and
this is the case there are many have great fun too.
more factor to take into
consideration then just buying a Financial Considerations
holiday home. Take some time to
decide what kind of property you One of the most important aspects
would like to purchase, and then of buying a property in Greece
discuss your ideas with your and living there is finance,
partner and family. If you are at which includes everything from
all unsure of what or where to transferring and changing money
buy, the best decision is usually to mortgages and taxes. If you
to rent for a while first. are investing in property or a
business it is important to
When buying a property you need consider the exchange rate. Take
to consider where you would like a realistic look. It is easy to
to live. Resorts are lively in imagine that you have more money
the summer, but may be crowded to spend on your dream property
with tourists. However, in the than you actually have. The cost
winter they may be completely of purchasing a house and costs
closed, with nothing in the way of repairs can spiral
dramatically without you being rooms legally, you must have a
prepared for it. If you need to license from the Greek Tourism
borrow money to fund your dream Board. You must also fulfil fire
property, be careful where you and safety regulations, and you
borrow the money from. Many must pay tax on this income.
mortgage companies will not lend Authorities are having a clamp
money for property overseas. It down on illegal lets, and fines
may seem trivial to mention, but are enormous!
always remember that if you
borrow money to buy property, or If you are planning to move
to rebuild it, you have to pay permanently to Greece, unless you
the money back! This statement is have enough private income for
one that should be at the you to live well on, you must
forefront of your mind when you consider employment in the place
are making your plans. It’s you are going to live. You must
advisable to have your finance in ensure that this will be possible
place before your inspection before you buy a house. What kind
visit. If you see your dream home of job can you really expect to
you will be able to purchase it do? What are your qualifications
without any delays. This way you and experience? Are they
will not miss out. recognized? Do you speak fluent
Greek? Unless your Greek is
Do not count on holiday lettings fluent you wont be completing on
for your property to tourists equal terms with the local
during the months you are not workforce (you wont anyway, but
there. In the last two years that a different issue!). Most
there has been a decline in the Greeks aren’t interested in
tourism in most parts of Greece, employing people who do not have
and income from letting property a good knowledge of the Greek
has declined with it. To let out language unless it deals
exclusively with foreigners. Are over eighteen months. Working one
there any jobs in your profession summer season will not earn you
or trade in the area that you enough to be paid benefits. If
plan to live? Answer to these you are self employed in Greece
questions and others can be quite you are not entitled to benefits
disheartening. However, it is at all.
better to ask them before moving
to Greece, rather than Looking For Your Dream
afterwards. Property
The Greek equivalent of the After you have answered all these
English Job Centre is the OAED question and more your will be
which has a special department ready to start looking for a
for Europeans seeking work, property to suit you and your
although you should expect it to family. Now do your research. The
be easy to find a job. internet is a helpful tool.
Unemployment rates in mainland Listed below are links to
Greece is generally high. It is relevant articles and information
higher still on the islands. Some about property and the prefecture
islanders can only find work of Messinia which will help with
during the summer season, when your research.
tourists visit. This means they
either have to save enough money Take notes about the kind of
when they are working to live on properties that are available and
during the winter, or learn to their location. Also note down
survive on unemployment benefit any that are just below your
in the winter months. price range (just below, because
Unemployment benefit is only paid you will need some money to pay
if they have enough national for taxes, legal fees, and hidden
insurance stamps credited to them costs of buying property).
Discuss the properties that you estate agent know you are going
have found with your family and to be arriving at least a couple
friends. Find out about the area of weeks in advance. Tell the
to see if it suits your agent where you will be staying.
requirements. Study maps and Take a mobile phone with you that
guide book descriptions of each works overseas, so they can
location. When you have contact you if they need to. The
established what your agents will be able to arrange
requirements are contact the real viewing of properties for you
estate sites you have been while you are in the country, and
looking at. Find out if the hopefully, will be able to find
online property list is up to several properties in each area
date, quite often agents only you are interested in.
advertise a small selection of
the properties that they have Be open minded, it may be worth
available. Let the agents know considering purchasing a plot of
your full requirement (be as land, rather than a house that
detailed as possible) and leave already exists. Design and build
your up to date contact details properties are easy to find and
with them. Ask the agents to let are a very popular choice. Check
you know when any suitable if the plot has planning
property comes up. This will make permission. It is often automatic
it easier for them to narrow down if the land has road frontage,
the search so you do not spend with all services (water, etc)
months looking at unsuitable nearby. If the land is within the
properties. town planning area it should also
be buildable, but always check,
If you intend booking a holiday and get it in writing.
in order to view properties, it Prefabricated buildings are
is important to let the real available in Greece now, they can
be built by the manufacturers, or to make an offer.
by yourself. If you plan to build
any property yourself you it is It is normal to pay a deposit of
important to remember that you 10 - 20 % of the agreed purchase
have to build to Greek and price. This seals the contact
European building and safety between the seller and buyer. If
regulations. These are very the seller pulls out (which is
different from UK regulations. unlikely) he must return the
All buildings must be built to money plus the same amount again.
withstand earthquakes, for If the buyer pulls out the
example! deposit is forfeit. However, if
previously known problems are
When you have found the property revealed the deposit will
you would like to buy, it is automatically be return. Property
advisable to get a survey done. purchase is generally completed
This is a step that is often in a short period. It can take as
missed out in Greece. Some areas little as 48 hour to 2 weeks.
are prone to flooding, earth However, if the seller has not
tremor damage, or sink holes (A collected all the necessary
large hole that suddenly appears documents for the transaction, it
in the earth when the limestone can take up to 3 months. You must
beneath is eroded away by water). not pay the full amount until all
Save yourself a lot of trouble in the documents are in place and
the future by paying for a good your lawyer has made it all
survey. When you have found a legal!!!
good lawyer (who speaks your
language, as well as Greek) and a Good Luck with the purchase of
good accountant (to sort out a your dream property. Enjoy your
tax number for you, and some little piece of Paradise, you've
financial details), you are ready earned it.
About the Author:
R & C Property Management Services offers full property management and real estate services including, building maintenance and renovations. And can care for your holiday home and for your holiday guests. Or simply find you a property to rent for your holiday. http://r-and-c-pms.biz/
Read more articles by: Claire May
Article Source: www.iSnare.com |
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