Almost all the visitors we have ever met on the Greek islands, without exception, has at one time or another discussed their dream of living in Hellas (Greece), either to retire (early if you are lucky), or invest in a home and offset costs by letting.
To experience a season on an island, starting with the spring almond blossom in February, poppy covered meadows in March, watching the locals prepare for the season throughout April, celebrating Easter, and then planning your summer days and nights with friends and family, is a very achievable and pleasant experience.
 

The information contained on this page will guide you through the process of buying a home, and the benefits it can bring. Investing in a home is a serious business, and whatever horror stories you may have heard, if you follow our guidelines you will find that buying wasn’t so difficult after all ! Once you have decided where you wish to live, the following points should be considered early in your plans.

* Planning your budget
* Financing your purchase
* Securing your purchase – the deposit
* Legal representation
* Banking and accounting (if you’re considering letting)
* The purchasing procedures

Planning your budget
We know a number of people who have decided on their ideal home, returned home, only to find that after organising their finances, the house has been sold. You need to plan your expenditure and ensure that you have sufficient funds available to place a deposit at short notice. Property sells quickly in Greece, especially in the unspoilt smaller islands such as Tilos (our last development of three detached houses were sold within two weeks following initial enquiries) ! Take a look at the illustration below based on a 95 m2 house priced at € 140.000 ( £90.000)

House:
€ 140 000
Purchase tax:
€ 10 500
Legal fees:
€ 2 000
TOTAL:
€ 152 000

 

Please note that typically, the assessed value of your home is based on government scales relative to the type of house, the island and its use. It is usually two thirds of the asking price. Your legal fees ( 1 -2 %) and purchase tax are based on this figure.
 
The cost of living in your home
To furnish your home you should allow around € 4000 for a basic supply of beds (2), Dining table, white goods, seating, garden furniture and sunbeds.

If you are planning on permanent residence in Greece, you will find the cost of living is much lower than the UK, and two people should budget for around € 13 to € 14,000 per year, with a pro rata reduction in costs should you decide to stay for the season only. This includes running a family car, utility bills, repairs and maintenance, entertaining and other external expenses that may arise. Car prices are amongst the lowest in Europe, and we can advise you on those costs.
 
If you are buying all of your furnishings new, we would advise you to purchase goods locally in Greece due to the costs of shipping, which, for a 6m container to be shipped from the UK to the Southern Aegean would cost around € 4,750. We have on many occasions helped our clients source goods on Rhodes with minimal forwarding costs onward to the islands.
 
For general advice on finance, purchase procedures, legal matters and banking please see our Legal and Financial page.

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