Restoring an old house is another way to acquire your ideal Paxiot property. Properties full of character and some fairly derelict ones are available in most parts of the island.
Disadvantages of Restoring an Old House:
The first thing you will need to do is decide how important a sea view
is. If you are looking for an investment property to rent out to a tour
operator, a sea view will certainly help you to obtain a good price and
a fair amount of interest. However, old houses don’t usually meet modern
day requirements and very few have a sea view, so you may be better off
looking at the options for purchasing land and building a new house.
Finally you should consider how large a house you need. Again we work in square metres. 200 sq metres is a large house and 100 sq metres is a two bedroom house.
Help with Getting Started:
Just to give you a very rough idea on costs at this stage, you will need
to allow about 20% of your purchase price for taxes, lawyers,
agents fees etc. Unfortunately all old houses are different and we
cannot provide a guide to restoration costs, although these will usually
be lower than the cost of building from scratch.
You need to bear in mind that all processes here in Greece take much longer than you may imagine. It may well take three months to complete the purchase, the planning permission, if you are lucky, may be through in a further three months but can take much longer and the restoration work can also take many months! So it is best not to be in a hurry and you may then be pleasantly surprised with the rate of progress. It goes without saying that we will do our best for you at all stages, even after you have completed the purchase and while your house is being restored. You can easily contact us by email or phone and we speak English!
We have decided to provide a ‘Guide Price’ for the land and properties on this website rather than a fixed price. It is always possible that you may be able to persuade an owner to accept less than the ‘Guide Price’, but on the other hand you may have to pay more. We try to keep the ‘Guide Price’ for each property up to date and most of them are accurate. However, please be aware that in the present climate, even when an owner has agreed a price for his property he may subsequently decide to increase it. You might therefore like to consider entering into a pre-contract with the owner but should discuss this with your lawyer.
SEARCH - OLD HOUSES FOR SALE