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| Copyright 2004-2008 Carol Palioudaki. Property in Crete Pitfalls Living in Crete www.livingincrete.net |
| Living in Crete |
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Index > Property in Crete > Pitfalls
| Pitfalls - Buying Property |
| Pitfalls Buying Property In Crete & Greece |
Buying Property in Greece - Top 5 Tips To Avoid Pitfalls
1)Take your time
Shop around, compare prices and credentials. Existing properties
may be offered by more than one agent, and the price for the same
property may vary considerably. Choose an experienced licensed
real estate agent. If buying off plan compare companies, their
finished properties and what the price includes. Don’t buy on impulse
or be rushed into a purchase.
2)Location
If you are thinking of living permanently in Greece visit your chosen
location in the winter. You may have found the perfect property but if
you have only visited in the summer months you could find that an
attractive village near a small resort, but far from town, becomes
much less attractive in the winter months when everything in the
nearby resort is closed down. If retiring to Greece think about the
suitability of the location when you may be less agile – hills, steps or
being far from a bus route, shops or health services could be a
problem in the future.
3) House with a View
That olive grove in front of your plot could soon become a building
site. To ensure that you keep an unimpeded view buy land/property
that is on its own high ground or a slope.
4) Lawyer
You must appoint a lawyer ('dikigoros') in accordance with Greek law
to make a property purchase. Your lawyer is the most important
person in your Greek house purchase so you need to be confident
that he/she will be looking out for your interests; a lawyer
recommended by the builder/estate agent may have a conflict of
interests.
5) Building & Renovating Rules
If you are thinking of building or renovating a property yourself be
aware that it is not entirely straightforward. The law requires that
you use an architect so as to conform to strict building standards,
including earthquake regulations. You are required to obtain a
building licence and pay taxes and IKA Insurance for the build – even
if you do it yourself. Official tax invoices (timologio) must be obtained
for all supplies and labour. Only Greek registered tradesmen can
provide the proper certification for electricity and water connections
1)Take your time
Shop around, compare prices and credentials. Existing properties
may be offered by more than one agent, and the price for the same
property may vary considerably. Choose an experienced licensed
real estate agent. If buying off plan compare companies, their
finished properties and what the price includes. Don’t buy on impulse
or be rushed into a purchase.
2)Location
If you are thinking of living permanently in Greece visit your chosen
location in the winter. You may have found the perfect property but if
you have only visited in the summer months you could find that an
attractive village near a small resort, but far from town, becomes
much less attractive in the winter months when everything in the
nearby resort is closed down. If retiring to Greece think about the
suitability of the location when you may be less agile – hills, steps or
being far from a bus route, shops or health services could be a
problem in the future.
3) House with a View
That olive grove in front of your plot could soon become a building
site. To ensure that you keep an unimpeded view buy land/property
that is on its own high ground or a slope.
4) Lawyer
You must appoint a lawyer ('dikigoros') in accordance with Greek law
to make a property purchase. Your lawyer is the most important
person in your Greek house purchase so you need to be confident
that he/she will be looking out for your interests; a lawyer
recommended by the builder/estate agent may have a conflict of
interests.
5) Building & Renovating Rules
If you are thinking of building or renovating a property yourself be
aware that it is not entirely straightforward. The law requires that
you use an architect so as to conform to strict building standards,
including earthquake regulations. You are required to obtain a
building licence and pay taxes and IKA Insurance for the build – even
if you do it yourself. Official tax invoices (timologio) must be obtained
for all supplies and labour. Only Greek registered tradesmen can
provide the proper certification for electricity and water connections
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_________________________________________________________
Learn more about buying property in Crete and Greece and how to avoid
potential pitfalls from the guide
"Living in Crete. A Guide to Living, working, Retiring & Buying Property in
Crete"
__________________________________________________________
Learn more about buying property in Crete and Greece and how to avoid
potential pitfalls from the guide
"Living in Crete. A Guide to Living, working, Retiring & Buying Property in
Crete"
__________________________________________________________
Index > Property in Crete > Pitfalls
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