The true cost of buying a home in Crete
Changing times have created something of a hiatus in the property market and due to the world recession most property developers on the Greek island of Crete cannot afford to advertise independently, so many are turning to estate agents as a cheaper marketing option. In Crete, agents depend entirely upon the internet to promote their resale and new build listings.
Hit on one of these sites and on first inspection prices can seem very attractive. However, there are substantial additional costs to factor into your budget. For example, use an estate agent in Crete and unlike in the UK, the BUYER is charged a sales fee up to 2 ½%. The seller is also charged the same fee, but it’s not unknown for a vendor to say, “I do not wish to participate,” and if you’ve fallen in love with the house, you end up paying the whole 5%!
“We are one of the only Greek property developers advertising in the UK,” says Mike Saunders, the MD at Snobby Homes, in Crete. “We sell direct to the buyer, which saves all agent commissions. Normally you should allow around 20,000€ - on top of the house buying price - to cover all the purchase costs, taxes and legal fees. However, Snobby is the only builder to INCLUDE all these costs within the sale price, so you know precisely what you have to budget for.”
Typically a detached two bedroom house, with a pool, in western Crete will be marketed by an agent for about 155,000€. Add on the agent’s commission, lawyer’s fee, charges from the Government Notary and property taxes and this all adds up to around 23,000€ - a total of 178,000€.
This is where Snobby Homes is unique.
For instance they are currently marketing in Maleme a popular beach resort in Western Crete and just 30 minutes from Chania International Airport. This is a “boutique” style development of just five houses, set quietly away, yet only two minutes walk from shops, restaurants, chemist, health centre and bus stop.
The ex show home is now being offered at an amazing 165,000 euros including private walled garden, tiled swimming pool, Jacuzzi, double glazing, solar water heating providing FREE hot water, photo voltaic system which generates FREE electricity, five piece white goods package, wood burner, air conditioning, cherry wood fitted kitchen, pine beds and wardrobes, light fittings, roof top terrace PLUS all purchase costs and legal fees are included!
Snobby Homes, so named because someone looked at a new build and said “That is fabulous but will people think we are being snobby?” has an excellent reputation of building quality homes in a style the British like to own.
The company normally builds no more than a handful of homes in any one location thus avoiding large conurbations. The company also builds within walking distance of a village or resort so that those choosing to live there year round have access to all local amenities from bus routes to shops, bars and restaurants. On top of this the company builds the type of houses that suit the British in terms of quality build, good house layout and clearly marked boundary walls – we do like our “castles” – so there is privacy without isolation. The company is also just about to launch bungalows onto the market place; always a firm favourite with British home owners.
Crete attracts 85% of those buying a property in Greece and with 320 days of sunshine a year, no winter frost, low crime rate and really affordable living costs it offers buyers a great deal at an amazing price.
Snobby Homes is also marketing new homes at Church Lane, Drapanias, Western Crete. Set quietly in an olive grove, the company is currently building just six, two bedroom detached Snobby homes and a three bedroom “posh pad”, each with spectacular sea views and within walking distance of village tavernas, mini market and bakery. There is a regular bus service and the beach is a 15 minutes walk. Prices are from 122,950 euros and again ALL INCLUSIVE of purchase costs, construction in thermal brick, storage room, hard landscaping ready to create a Mediterranean garden, luxury kitchen, furniture, fittings, air conditioning, solar water heating and double glazing – there’s even a welcome hamper!
Snobby Homes has an Information Centre in Kolimbari so buyers or owners always have somewhere to refer if they have any queries. The company is always looking at new designs and specifications and this year in addition to the wooden beamed ceilings, arches, clay pantiled roof and private walled garden the company is including within the kitchen specification an oven with ceramic hob, dishwasher, fridge/freezer, washing machine as well as a kettle, microwave and toaster! Built with thermal brick for superb insulation and with lots of storage from fitted wardrobes to a brick built outdoor storage room, why not contact Snobby Homes to see what is available?
All enquirers receive a comprehensive 2011 Information Pack plus free DVD with Tommy Walsh – TV’s favourite builder - extolling the virtues of the build.
For more information, visit snobbyhomes.co.uk.
