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Following the recession in the UK,
the market for buying property overseas has
radically changed. No longer can people afford to
cash in on the equity of their home to fund the
ultimate status symbol of owning a holiday home in
the sun.
In Crete it used to be the minority who
bought for permanent living, but now all that is
changing. As the baby boomers of the forties are
coming up to retirement they’re facing a dilemma.
Can they afford to maintain an adequate lifestyle in
the UK now that their pension is a lot smaller than
they were led to believe?
Research by the Foreign
Office shows 42% of over 55’s wish they could live
anywhere else apart from the UK. It doesn’t take
much to discover why. Bad weather – soaring crime –
immigration - a despairing health service – ever
reducing public services - what quality of life is
that, when planning retirement?
Snobby Homes, a
leading developer in western Crete are developing
what baby boomers are looking for.
Mike Saunders, Snobby’s Marketing Director says, “The majority of
our sales this year have been to people about to
retire, who are moving permanently to Crete. The
feedback we are getting is so great that we are
launching new Snobbys designed with retirement in
mind.”
Crete has 320 days of sunshine every year and
it never gets anywhere cold enough for ice or frost
- so you don’t need to spend as much on heating as
you do in the UK. In fact even in January there can
be sunny days with temperatures in the high 60’s.
The healthcare system in Crete is also good, which
is free to UK pensioners. Chania Hospital is modern
with excellent facilities - and there’s no MRSA to
worry about!
Says Mike, “The dream used to be about
buying a large villa, acres of land, set away with a
fantastic view. That’s all very well, but as you get
older you can’t maintain your land, no matter how
much you love gardening and not being able to walk
to amenities is a big problem if you stop driving.
Purchasers we see appreciate they have to plan for
the future, which is why Snobbys are proving so
popular. Snobbys are designed for low maintenance
and tailor-made for permanent living.
We also have
an Information Centre, where owners can drop in for
answers to any problems they may have, so Snobby
provides total support both before buying and
after.”
The UK housing market is in the doldrums and
while the government is attempting to help first
time buyers, data from the Halifax Building Society
show the price of an average property price is
dropping by nearly £200 a day!
Says Mike, “Our
clients are selling up in the UK to move to Crete.
Unfortunately the way UK property prices are going
people have to make hard decisions. Reduce their
selling price to get a sale now and escape to a more
affordable lifestyle - or wait and be prepared to
lose thousands because they didn’t move fast
enough.”
Snobby developments are set quietly away
with excellent road access and within walking
distance of local amenities and a bus service, which
are essential requirements, if not for now, then
certainly for the future.
When you move for
permanent living you can never have enough storage
space, which is why Snobbys now include a secure
brick built room with power, to safely stow away all
those 101 things you don’t know what to do with. And
what’s more this convenient room is included within
Snobby’s all-inclusive price.
Snobbys are also very
private - a pre-requisite for most buyers from the
UK. Snobby developments always comprise less than a
handful of homes and all are built in the region of
the picturesque fishing village of Kolimbari, in
western Crete, which serves all the places around.
Snobbys also benefit by being no more than 45
minutes from Chania International Airport with
direct flights to the UK by EasyJet and charter
flights. |
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Go to our website For your
FREE
Information
Pack and DVD
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www.snobbyhomes.co.uk |
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BUYING PROPERTY IN CRETE?
FIVE POINT GUIDE TO GETTING THE BEST VALUE
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POINT ONE – Budget Costs
Whatever house you buy, you need to budget for all the purchase costs, taxes and legal fees, you must pay. Because this can run into many thousands of euros, it’s important you know precisely how much it’s going to cost - or it could mean the house you’ve set your heart on is really way over budget.
USING AN ESTATE AGENT? - get the agent to confirm all the purchase costs in writing. Do not accept a verbal estimate.
BUYING?DIRECT?FROM?THE?BUILDER? - get all purchase costs in writing. However some developers ‘cap’ costs at 10%-15% as an incentive, but on a house costing 120,000€ that can still represent a whacking great extra cost to find of 12,000€ - 18,000€!
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SOLUTION
The only real way to know in advance what you’ll have to pay, is with Snobby Homes. All Snobby prices INCLUDE all purchase costs, taxes and legal fees so you know precisely what you’re paying for. For more information go to their website at
www.snobbyhomes.co.uk
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POINT TWO – Location
The old adage of location, location,
location is very important. It’s all very
well hankering after a large villa with vast
tracts of land, but is that really sensible?
Think of the future, living out in the
wilds. Perhaps you won’t be able to drive.
How do you get to the shops - or doctor?
Keeping on top of all that gardening will
prove difficult and the high running costs
and maintenance on a big house will eat into
your savings. What happens then?
Don’t let your heart rule your head. Make a
plan and use tick boxes to check whether a
potential property really fits the bill. Be
hard with yourself.
Don’t spend more than you ought. Protect
that nest egg. Don’t be seduced by size.
What space do you really need when you spend
most of the year outside? OK privacy is a
must. How close are amenities such as shops,
places to eat, bank, etc. Are you a
gardener? Do you want to grow all your own
vegetables? What space does that need?
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SOLUTION
You’ll find Snobby ticks the boxes and fits
the bill. Small developments, set quietly
away, yet within a stroll of everyday
amenities. Designed with real character,
each Snobby is set in its own walled
Mediterranean garden, large enough for a
pool and garden, yet perfectly private. Find
out more by going to their website at
www.snobbyhomes.co.uk |
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POINT THREE – Best Value
Property prices in Crete have remained relatively stable. This has been due to the fact that supply never really outstripped demand - unlike Spain where a huge glut of available property on the market drove the price down. While UK buyers fell away during the recession, they are now returning and looking for bargains, but what looks cheap can end up costing you more.
Offered through estate agents, apart from having to pay a BUYER’S?FEE, you need to check all planning is in place. It’s not enough to believe this is checked by your lawyer. He will not know the property. You need to tell him whether balconies have been glazed to provide extra living space - whether there is a shed, outbuilding or pergolas - is there a pool. All these have to be included in the Building License. If they’re not it could cost you!
Some developers will keep a price low to get a sale, but not include necessities such as a solar water heating system, air conditioning, heating, white goods or any landscaping and walls. Add these up and it will cost you thousands. If you were stretched at the beginning, that bargain could prove far more expensive than you thought!
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SOLUTION
Buy a Snobby and you know EVERYTHING?is all included within the price - and still we offer better value than any other builder in Crete. Our build quality is second to none. Snobbys are
constructed with thermal brick for fantastic insulation that makes for comfortable living and saves on energy costs too. Snobbys come with luxuries such as a storage room, air conditioning - dishwasher - ‘fridge/freezer and a whole host of goodies - all within the all-inclusive price. And every Snobby is set in a spacious walled garden for perfect privacy, large enough for a pool, sun terraces and a vegetable garden. When it comes to price and value Snobby stands head and shoulders above all the rest. For more information and prices go to their website at
www.snobbyhomes.co.uk |
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POINT FOUR – The Right Plot
Interested in buying land and building a house? Let it be known and every man and his dog will try to introduce a relative to you who is “very good builder - very good price.” Be warned, buying land is fraught with danger. Unless you know what you’re doing you could end up with huge problems that leave you with the land, but being unable to build. Is the land inside or outside the village boundary? Fundamental building restrictions apply. Boundaries may be marked on an official topographic survey, but are they correct? Even if the boundary lines are accepted by your neighbour. Even if the seller agrees, is he the only owner - and is there a land contract to begin with? Even though the land is buildable, Greek law states you may own the land, but not the olive trees upon it!
If you prefer to keep your stress-level low, far better to buy from a developer, who’ll have already gone through the whole gamut of checks and legals to ensure their houses are legally secure.
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SOLUTION
You’ll find Snobby ticks the boxes and fits the bill. Small developments are set quietly away, yet within a stroll of everyday amenities. Designed with real character, each Snobby is set in its own walled and private Mediterranean garden, large enough for a pool, sun terraces and garden. There’s stone paving, raised beds, gravelled features and large Cretan terracotta display urns. Features that cost many thousands - and it’s all within the price! Find out more and go to
www.snobbyhomes.co.uk |
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POINT FIVE – Security
In Greek property law the legal emphasis is different from that in the UK, where you buy a house but it’s rare to know precisely how much land you own. Greek law is different as a contract will go to great lengths to legally identify precisely the size of plot being purchased, both in terms of square metres and boundary lines. Ownership of this precise plot is then legally registered, for in Greek law whomsoever owns that plot of land is the legal owner of whatever is built upon it. Even if someone inadvertently builds on your land you become the legal owner!
In Crete, developers - and certainly builders - will ask for stage payments. Because the law states whoever owns the land owes what’s built upon it, developers will not transfer ownership of land until they are paid every last euro. Be warned! This means your money is at risk throughout the whole build process - including your deposit! There is only one risk-free option - Snobby Homes.
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SOLUTION
Snobby are probably the only developer in Crete without any bank borrowings. Financially secure they guarantee your deposit against loss. Nor do they ever take stage payments to fund the building process. You pay just the deposit and the balance only on completion of contract. Find more about the secure way to buy a new property in Crete by going to
www.snobbyhomes.co.uk |
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