New House Purchase

For discussion, news, comments, questions and information about Crete & Greece.
Ladyt25
Posts: 12
Joined: Fri Aug 31, 2018 10:43 pm

Re: New House Purchase

Postby Ladyt25 » Tue Sep 04, 2018 10:24 pm

Thanks. It seems hard work already as chasing solicitor for completion......! I actually went on A Place in the Sun in April to look after going out myself last year to view something. They found this lovely house and the offer was accepted WAY under the asking price.

I have to keep going, it's so lovely. Thankfully our solicitor is the SIL of our good Greek friend, his other friend is an engineer and did the survey and we have our tax numbers etc all sorted I think!

My old boss (when I did bar work) is now a builder do he said he'll help with stuff and some friends I met last year run some apartments and one of them is a super host on Airbnb so was really helpful. They live in heraklion.

THIS is another reason I love Greece as everyone I've met there in the last 20 odd years are so helpful and it's all really relaxed. This is why I decided last year to try and realise the dream before it becomes a retirement dream only. I'm.40 this year so figured if I could do it, why not!!

chrissyg
Posts: 108
Joined: Thu Jan 05, 2017 4:46 pm

Re: New House Purchase

Postby chrissyg » Tue Sep 04, 2018 10:50 pm

I wish we had done it years ago. We bought land just before the financial crash at the worst possible time, then tried to sell it for years without success , then only a couple of years back started to build on it, and retry the dream. So now we are in our sixties and maybe we will retire here, or maybe it will just be our second holiday home. You are right, it is great, and whenever i come out here i dont want to go back to the UK, but then i have children in the UK and cats!!

filippos
Posts: 5601
Joined: Mon Feb 05, 2007 7:38 pm
Location: Kalyves
Contact:

Re: New House Purchase

Postby filippos » Wed Sep 05, 2018 8:02 am

Ladyt25 wrote:Thankfully our solicitor is the SIL of our good Greek friend, his other friend is an engineer and did the survey and we have our tax numbers etc all sorted I think!
If you rent out legally you need a lot more than that. Just getting a licence before doing anything else can be a nightmare. Maybe I'm a cynic but I'd at least double-check everything I was told as it's quite possible to be told different thinks by officials working in the same department to say nothing of advice given by friendly amateurs.
My wife ran her completely legally established small business here, advised by highly regarded accountant and lawyer. After three years she was officially informed that she must make pension contributions of €250/month despite already receiving a good private pension and UK State pension. She took our accountant's advice to close the business and doing so was at least as complicated as starting in the first place.
Take care is my advice.

Ladyt25
Posts: 12
Joined: Fri Aug 31, 2018 10:43 pm

Re: New House Purchase

Postby Ladyt25 » Wed Sep 05, 2018 9:23 pm

Thanks - yeah, I'm sure there's a lot to learn! I am thankful we have long term local friends who can advise.

Just need to get the purchase completed and get out there to sort all this out!!

It's frustrating waiting for the completion at the moment but I need to get ideas of furnishings, management companies etc as need to ensure it's looked after over winter and get it on the rental market (all being well!) in 2019.

A long way to go yet.

filippos
Posts: 5601
Joined: Mon Feb 05, 2007 7:38 pm
Location: Kalyves
Contact:

Re: New House Purchase

Postby filippos » Wed Sep 05, 2018 10:23 pm

Hope it goes well for you.

Kilkis
Posts: 9672
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: New House Purchase

Postby Kilkis » Sat Sep 08, 2018 11:51 am

It looks like the thinking is getting much more joined up?

Warwick

bobscott
Posts: 2228
Joined: Wed Aug 05, 2009 5:36 pm
Location: Kokkino Horio

Re: New House Purchase

Postby bobscott » Sat Sep 08, 2018 4:48 pm

Kilkis wrote:It looks like the thinking is getting much more joined up?

Warwick


Well yes. If it has taken 3 years for someone to work out that an hotel has only made €10 in a year MUST be on the fiddle (see extract from article below) then heaven help us. That tax return has gone through the hotel's accountant (!) and on to the tax office. So who was doing what for 3 years? My guess is 'struggling to keep up with the workload'. Bob.

Extract: Such is the case with a hotel at Halkidiki in central Macedonia, which for 2015 declared takings of just 10 euros from all its activities and in 2016 did not submit an income tax declaration at all. After the inspection it submitted an amended declaration for 2015 with gross revenues of 254,018 euros and for 2016 with takings of 120,256 euros.
Yesterday today was tomorrow. Don't dilly dally!

moggieman
Posts: 557
Joined: Thu Jun 07, 2007 11:30 am
Location: pano stalos
Contact:

Re: New House Purchase

Postby moggieman » Sat Sep 08, 2018 4:58 pm

And sooner or later the tax office will catch up with all the Airbnb lettings not declared.

Eleni13
Posts: 479
Joined: Tue Apr 10, 2007 11:13 am
Location: UK

Re: New House Purchase

Postby Eleni13 » Sun Sep 09, 2018 12:33 pm

Karma. I do hope so!

patterson
Posts: 11
Joined: Fri Aug 17, 2018 10:37 pm

Re: New House Purchase

Postby patterson » Sun Sep 09, 2018 9:34 pm

Hi - congrats on the house purchase - how exciting!

I am collecting keys early November for our first house in Greece too, so we are both newbies. This forum has quite a negative vibe on every thread I have been reading for the past 2 months but I am sure things will get happier!

We are letting ours on airB&B and know many people who do this and it is very straight forward.

Anyway - I have looked at furniture and prices in Crete and actually have found it cheaper to buy in the UK and use a van hire guy to take it all over. I wanted some beautiful Laura Ashley pieces and found two nearly new sofas on ebay and have them and 7 other large items being shipped over for around £1200.

It is so wonderful to have a holiday home on such a beautiful island - enjoy it x

moggieman
Posts: 557
Joined: Thu Jun 07, 2007 11:30 am
Location: pano stalos
Contact:

Re: New House Purchase

Postby moggieman » Sun Sep 09, 2018 9:41 pm

patterson

"We are letting ours on airB&B and know many people who do this and it is very straight forward."


Be very careful its not as straightforward as you seem to think. You need an accountant and a licence. To jump in without is asking for trouble.


This forum has quite a negative vibe No it doesn't just tries to pass on cautious past experiences.

patterson
Posts: 11
Joined: Fri Aug 17, 2018 10:37 pm

Re: New House Purchase

Postby patterson » Sun Sep 09, 2018 9:51 pm

[quote="moggieman"]patterson


Be very careful its not as straightforward as you seem to think. You need an accountant and a licence. To jump in without is asking for trouble.


Yes - it is never word trying to hide income and cutting corners. Like all business airbnb has a correct procedure to follow. There are risks on the guests you have etc but many many people do it very successfully and legally around the world.

moggieman
Posts: 557
Joined: Thu Jun 07, 2007 11:30 am
Location: pano stalos
Contact:

Re: New House Purchase

Postby moggieman » Sun Sep 09, 2018 10:08 pm

It's not Airbnb procedures that are the problem, Its the Greek requirements and believe me they are "nothing" like the rest of the world.

I believe sooner or later the whole Airbnb scenario is going to blow up in Greece like it is in many American states where they are banning them completely.

Ladyt25
Posts: 12
Joined: Fri Aug 31, 2018 10:43 pm

Re: New House Purchase

Postby Ladyt25 » Thu Sep 13, 2018 1:19 pm

patterson wrote:Hi - congrats on the house purchase - how exciting!

I am collecting keys early November for our first house in Greece too, so we are both newbies. This forum has quite a negative vibe on every thread I have been reading for the past 2 months but I am sure things will get happier!

We are letting ours on airB&B and know many people who do this and it is very straight forward.

Anyway - I have looked at furniture and prices in Crete and actually have found it cheaper to buy in the UK and use a van hire guy to take it all over. I wanted some beautiful Laura Ashley pieces and found two nearly new sofas on ebay and have them and 7 other large items being shipped over for around £1200.

It is so wonderful to have a holiday home on such a beautiful island - enjoy it x


Hi, thanks - yes I am excited about it too. Hoping the documents will be finalised before the end of the month!

I don't really get how Airbnb works if you are not in the country to do it. Plus, many countries seem to be bringing in a lot of regulations about Airbnb. My initial thoughts are to use a local management company (I've been in contact with one for a while) to make things easier for at least the first year. See how things go. Obviously I know this costs but, if the bookings can cover the costs then I'm happy enough with that initially.

Thanks for the tip re furniture. I think when we go out I'll go look at some of the stores in Heraklion and price it up. It comes furnished but I want to update it a bit and add more sleeping options. Whereabouts is your house?

I do sense some negative feedback on here but I guess those people have had experience of it already. I will remain positive as feel I have support of many Greek friends who are Keen to help.

Good luck with your house!

Kilkis
Posts: 9672
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: New House Purchase

Postby Kilkis » Thu Sep 13, 2018 1:36 pm

Ladyt25 wrote:...I don't really get how Airbnb works if you are not in the country to do it...


Exactly the same as it works for any type of letting when you are not in the country. You need somewhere that they can collect/return the keys and someone to clean and sort things out between lets. I've seen it work with a neighbour you can trust or with a management company.

Warwick


Return to “General Discussion & News”

Who is online

Users browsing this forum: No registered users and 11 guests