INSURING YOUR GREEK HOLIDAY HOME
The recent fires in Australia brought back many memories of the Greek wildfires a couple of years ago. After an unusually hot summer, many areas of Greece, especially the Peloponnese, were hit by intense and widespread fires. This force of nature, along with the risk of earthquakes, automatically brings forth the question of home insurance. The main thing to remember is that your home is no more at risk than in the UK or North America. The chances of earthquakes and fires are rarer than the news portrays and the crime rate, in most areas of rural Greece, is practically zero.
GREEK DREAMS AND RETIREMENT HOMES
Everybody loves Greece, the epitome of sun, sea and sand mixed with a rich history and culture culture. Millions of tourists flock to the islands, and fall in love with the romantic Greek dream. Some decide, reasonably enough, to buy a holiday or retirement home, swayed by the relatively low price of Greek property. Greece is a wonderful country for relaxation, but it is important not to let passion sway financial decisions. Take a deep breath and do some research before deciding upon the perfect home.
RENOVATING A GREEK HOUSE
Many foreign buyers in Greece fall in love with the Greek village life, and seriously consider renovating a Greek house. Every village has a few rundown buildings, lying forgotten amongst the new homes. Resurrecting an old house is a rewarding experience, and ensures that your Greek home is unique and beautiful.
THREE GREEK PROPERTY HOTSPOTS
Outside Athens, the Greek property market tends to be much more of a slow gainer, and real estate rises slowly but steadily. This tends to make investment a long haul rather than a quick gain, whatever the multitude of commercial magazines and estate agents claim. Despite this, there are a few Greek property hotspots that may well produce benefits over the next few years.
AVOIDING CROOKED LAWYERS
Buying in Greece can have its difficulties, especially in remoter areas, where nepotism and brown envelopes are common. Lawyers, vendor and estate agents have been known to deliberately mislead and misdirect foreign buyers. Whilst this practice is thankfully dying out, there is no guarantee that your lawyer is not conspiring with the vendor’s lawyer. In remote areas, they may well be related to each other, so there is no harm in protecting yourself.
Home buying for most people is one of the largest financial transactions they will undertake in their lifetime. Although you may own a house in your own country, buying a property in a foreign country is quite a different matter. Many people, who would like to purchase property in Greece, find that the Greek real estate market can be a mind-boggling experience. At first the property purchasing process seems to be a very complicated one. Approaching the problem of buying a property step by step shows that it is not that hopeless.
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