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Buying Property Abroad - Greece |
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Buying Property Abroad - Greece Make sure that you do not make a decision that you'll regret later. Many people make rushed decisions, not taking enough precautions or not investigating fully other alternatives, disadvantages or pitfalls. The first thing to ask is what do you want from the property: -
Holiday home -
Retirement home -
Permanent home -
Rental property -
Business property (eg bed & breakfast)
Then ask what is the property will offer: -
Long summer holidays - Summer rental only
- Winter rental only
- Both summer & winter rental
- Weekend breaks
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Specific sporting activities (ie near ski-slope or golf course or beach) What type of property fits the above and your budget: -
Apartment - House
- Villa
- Buying an old property to renovate
- Building a new property
- Buying an existing property ready-to-rent-out
- Buying a property off-plan (ie before it is build by the contractor)
- Buying a managed development
- Buying a shared or communal development
- Buying a timeshare
- Buying a holiday property bond
- Part-purchasing (shares in a property)
- Opting for a leaseback property
- Number of bedrooms/bathrooms
- Parking facilities
- Swimming pool requirement
Other considerations should include: -
Legal process to purchase property abroad (including language barriers) - Fees & costs to make the purchase
- Letting agent services (and tax implications)
- Managing agent services (including maintenance costs)
- Financing options
- Planning and building regulations if renovating or building new
- Insurance premiums
- Visa and permits required
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Selling considerations, including capital gains tax payable
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