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Reply To: Holiday home purchase

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Kefalas
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      • Practcally Cretan
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      Member since: 8th March 2014

      40K seems very low. The cheapest (decent) properties that I’ve seen here in the west start at around 150K.

      As Fowles states, maintenance costs can be high. You won’t believe how much things deteriorate in winter. Houses need to be painted at least every 5 years (sometimes every 2 years). Cracks occur in pipes, walls, roofs. Budget at least €1000 a year for maintenance and maybe more. Don’t even think about having a pool.

      Then there’s the bills to pay for water, electricity and taxes.

      Renting is certain to be cheaper but don’t pay in advance "to get a discount". The building may have faults; the neighbours may be horrible. Make sure you are in a position to quit with no more than a month’s notice.

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