What types of properties are available to buy in Greece?

There are many different types of properties available to buy in Greece: Cottages, villas, village houses, town houses and apartments. There are old properties to renovate or you can buy a plot of land and design and build a new home. There is usually something for everyone’s tastes and budget.

Can I buy a property in the Peloponnese?

Yes, there are no any restrictions for foreigners wishing to buy property in the Peloponnese.

Are foreigners welcome in Greece?

Yes, The Greek people are among the friendliest in Europe. There is now a large number of citizens from all nationalities living in Greece.

Do I have to have my finance in place before my inspection visit?

It’s advisable to have your finance in place before your inspection visit. If you see your dream home you will be able to purchase it without any delays. This way you will not miss out.

I’ve found the house I wish to purchase in Greece – now what happens?

Choose an English-speaking lawyer. The British Consul’s provide lists of recommended lawyers. Tel: 0030 210 369 2333.

You can sign a proxy in order that your lawyer can represent you; obtain your tax number (AFM). You need this to complete your purchase; check title deeds and ensure there are no problems; and to sign the contract on your behalf. In this way the property can be signed over to you and it’s not necessary for you to make extra visits. Your lawyer will also deal with the Public Notary on your behalf. The Public Notary is responsible for drawing up your contracts, witnessing the signatures / payments and registering the new ownership of your property. When this process is complete the lawyer will provide you with a copy of the deeds. The original is placed with the land registry department.

All transactions are in Euros. You will need to set up a Greek bank account to pay for your legal advice, transfer money and pay bills. There are foreign exchange brokers that can transfer large amounts to Greece according to the business rate. Payment of utility bills can be set up very easily by direct debit via the bank, and money can be transferred online. The Leki Bank is connected to the HSBC and accounts may be open in the UK.

The ‘PINK SLIP’ for wire transfers of money from abroad. If the buyer cannot justify the amount of money they have spent, the Greek tax authorities will assign it as unreported income and the buyer will be assessed for income tax.

Do I have to pay a deposit?

Yes, it is normal to pay a deposit of 10 / 20 % of the agreed purchase price. This seals the contact between the seller and buyer.

If the seller pulls out (which is unlikely) he must return the money plus the same amount again. If the buyer pulls out the deposit is forfeit. However, if previously known problems are revealed the deposit will automatically be return.

How long does the purchase process take?

Property purchase is generally completed in a short period. It can take as little as 48 hour to 2 weeks. However, if the seller has not collected all the necessary documents for the transaction, it can take up to 3 months.

Will I have to pay tax on the property that I purchase?

Yes. The custom in Greece is to keep down the declared value of the property to reduce legal fees and property taxes. The one time purchase tax (which is the Greek equivalent of our stamp duty) is calculated at between 9% and 11% of the assessed property value for plots of land. For apartments and houses the charge is between 11% and 13%. The Inland Revenue will base their assessment on special tables issued by the Greek Ministry of Finance. The tables help determine the value of the property according to its merits, i.e. location, nature, quality of construction etc. The assessed value will usually amount to around two thirds of the true purchase price.

What other costs can I expect?

Other costs include the following:

Union fees: 1% of the taxable price of the property up to EUR44,000 and then 0.5% on the remaining taxable property price.

Lawyer’s fees: Lawyers charge between 1% and 2% of the assessed value as recorded on the contract of sale.

Public Notary fees and registration charge: The Notary Public fee is between 1% and 2% of the assessed property value

To the above cost of purchasing your property you should make an allowance for either buying furniture or appliances in Greece or transporting your furniture and household effects from the UK.

Do I have to pay a fee for finding a property?

Yes, commission is usually paid by the seller and the buyer in Greece. Fees and are normally 2% – 5%. After sales services are often available and will also incur an additional charge. Fees are generally fixed in accordance to the services that you require.

If something happens to me will the property automatically go to my next of kin?

Yes it will go to next of kin. Death duties are payable on property up to £100,000. This can be avoided if the property is made a “Parental Gift” to children. If there are no children a will should be made.

Now, enjoy your new home in Greece, you deserve it!

Please Note
This information is provided in good faith and believed to be correct at the time of writing. However, its accuracy cannot be guaranteed.

Claire May is a knowledgeable author of articles regarding property in Greece and Messinia. Her articles aim to Make buying and selling property in Greece easy and helps buyers with their research and assist them through the unfamiliar Greek property purchasing procedures. Claire has also designed a website to provide readers with information about buying property in Greece

Author: Claire May
Article Source: EzineArticles.com
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Although new homes typically have a higher sales price than comparable existing homes, buyers are willing to spend more up-front with an understanding that part of what they are paying for is assured low maintenance costs. A builder’s warranty, along with brand-new roof, appliances, furnace, and other operating systems that make major repairs unnecessary, work together to counteract possible slower appreciation initially.

Buying New Versus Resale

In today’s highly competitive market there is a vast array of choices to be made when deciding on the type of dwelling you wish to reside in. Below is a comparison of the advantages and disadvantages of buying a new home versus a resale home.

Advantages of a New Home

One of the primary advantages of buying a new home is the ability to decorate your home from the beginning exactly the way you want. You can pick all the colors, which range from paint to carpet. You can also make the tile and cabinetry selection for the kitchen and bathrooms.

Often, new homes will have more modern conveniences, better insulation and can be more energy efficient.

Disadvantages of a New Home

Unfortunately, with a new home purchase you should be prepared for the on-going construction you will find around you. Chances are that your grass and lawn will not be in, your driveway will be gravel and your street will turn into a sea of mud whenever it rains or snows. If things are going to go wrong with a newly constructed house, they will appear in the first one to two years.

As the house settles you may find cracks appearing in the walls of the basement, especially near any windows in the basement, make sure you get them fixed right away. Also, you should not finish your basement in a new home for at least a couple of years, just in case cracks and leaks develop.

There are additional expenses associated with new homes that you will not typically find in a resale home. For example, you may have to spend additional money for appliances, curtains, drapes, central vacuum, humidifiers, decks, fencing, electric garage door openers, finishing the basement, walkways, outdoor lighting, indoor light fixtures, trees, shrubs, gardens and landscaping, children’s play sets, swimming pool, air conditioning, etc.

Closing costs are typically higher for new homes. The purchaser will pay for such additional costs as the New Home Warranty Program, tree planting, utility hook ups and paving of the driveway.

Usually, when you buy a new home, you don’t have an opportunity to see the actual layout. All that is provided is a blueprint and in many cases the end product may be a disappointment to the purchaser because of changes that the builder or sub-contractor does not follow or does themselves. Additionally, there is the uncertainty as to who will be your neighbours.

Advantages of a Resale Home

The major advantage of buying a resale home is that you are moving into an established neighborhood. Your lawn is green, your shrubs are growing, your driveway is paved and your trees are well enough established to give your street a feeling of permanence. Often, most extras are already present, such as appliances, curtains, drapes, central vacuum, humidifiers, decks, fencing, electric garage door openers, finishing the basement, walkways, outdoor lighting, indoor light fixtures, trees, shrubs, gardens and landscaping, children’s play sets, swimming pool, air conditioning, etc.

In terms of investment, a resale home will often give you far more value than a brand new home. Many owners put tens of thousands of dollars into home improvements ranging from small items, such as landscaping, to major projects, such as a finished basement or any of the items above. Although these improvements will make the home more attractive to potential buyers, they may not increase the market value of the home.

A $35,000 swimming pool or a $15,000 finished basement or even $5,000 worth of landscaping may make the home very attractive. However these additional costs incurred may not necessarily increase the market value of a home, especially if you have to sell it at a time of year where these major items add little or no perceived value. The buyer gets the home at its real fair market value, which is based on comparable homes for sale or sold in the neighborhood. All those expensive extras may be included in the home with benefit to the buyer at little or no extra cost. This can be a substantial savings over buying a new home.

With a resale, the vendor’s asking price is almost always negotiable downwards unlike the builders list price which is usually firm. Any extras or changes are added to the list price of a new home and add up quickly.

Disadvantages of a Resale Home

A small percentage of homes in the marketplace are not considered to be in move-in condition. If both live-in partners happen to be working at full time jobs, a move-in condition home is by far the best alternative. If the property is being under “power of sale” or the property has been rented for many years the home may require a lot of work. If the buyer is not handy or does not have the additional up front capital then the purchaser would be better off buying a home in move-in condition or a brand new home. Additionally, as a home gets on in age certain systems such as heating, cooling, roofing, and/or windows need to be upgraded.

Although some perceive the paragraph above as a disadvantage, some consider it as an advantage. A home that needs some fixing up can in fact present some clear cost advantage to a buyer. Usually, it can be purchased below the going market value, while at the same time providing an opportunity to have it decorated to suite your specific tastes.

Neighbourhood: Known or Unknown Factor

When you buy a resale home, you can find out a lot more about the property and the neighbourhood before you buy than when you buy a new home. Land to support new-home developments usually is located on the outskirts of town. Potential buyers should ask the developer about future access to public transit, entertainment activities, shopping centers, churches, and schools. Local zoning ordinances also should be reviewed. A rather remote area can turn into a fast-food-chain haven within a couple of years. Try to ensure that the neighbourhood, if not strictly residential, will not begin sprawling out of control.

Buying into a new-home community may seem riskier than purchasing a house in an established neighbourhood, but any increase in home value depends upon the same factors: quality of the neighbourhood, growth in the local housing market and the state of the overall economy. One survey by the National Association of Realtors shows that resale homes do have an edge over new homes when it comes to appreciation.

More Questions and Items to Consider

There is a major decision early in the process of purchasing a new home and that is whether to build a new home or purchase a resale home already on the market. The following provides some considerations that may help you make an informed decision.

Location, location, location.
Are new homes being built in the area you desire? Do you know the surrounding zoning and what will be constructed in the area? How far away are services (schools, stores, hospital, doctors, etc.) that you need? How long is the commute to work?

Investment.
Typically, due to the continual addition of features, rising labor and material costs, new homes cost more than similar resale homes. Are you having to pay significant impact or lot levies or taxes and fees that are imposed on the builder? Are the taxes on the new home much higher than a comparable resale home? Will you be in the new home until the area is built out so you will not be competing with the builders should you need to sell the home? Is the home going to be high priced compared to other homes built or going to be built in the area?

Features.
Are the style and features that you desire only available in a new home? Can you find a resale home with most of the features and amenities you desire? Can you add the features you desire to a resale home? Are newer resale homes available that meet your needs?

Risk.
Is the new home builder or developer financially stable? Is the builder a large well known company with a good reputation? Is the builder asking for significant down payments or advance payments? Are there complaints lodged against the builder for shoddy work or not making repairs? Has the builder been delivering homes when promised? Check with your Better Business Bureau, the town or the city and talk to homeowners that have purchased a home from the builder.

In summary, a resale home can cost less, be more conveniently located, you know the area and amenities and have less risk involved. A new home can be constructed to have the exact style and features you desire, but usually with much higher costs, limited locations, and more risk.

Conclusion

In today’s market place both new and resale homes are selling briskly. Once you’ve evaluated the pros and cons of each alternative, you can make an intelligent, educated decision as to which option is best suited for your particular needs.

Ultimately, the decision should be based on your needs and wants, your family and/or children, your tolerance for risk and the unknown and ultimately your budget.

Laurin & Natalie Jeffrey || Sales Representatives
Right At Home Realty Inc., Brokerage
info@jeffreyteam.com || http://www.jeffreyteam.com
416-388-1960 || 416-318-7917

Author: Laurin Jeffrey
Article Source: EzineArticles.com
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1. Learn about the home buying process. The first thing a person should do is not jump into buying a home, but to learn about everything involved. They should learn about the paperwork, the legalities and about the process in general. By the time this first step is complete the person should have a good understanding about the rest of the process. This is a good time to talk with a professional, but it is important no to jump into any contracts with agents who may want to act on your behalf. This step is solely for gathering information.

2. Look for a potential neighborhood. A person should now begin looking at neighborhoods they would like to live in. This will give a person the basis for finding the type of home they are looking for. It will give them an idea of buying prices, as well.

3. Get pre-approved. Getting pre-approved for a home loan will benefit the potential home owner. A person that is pre-approved knows how much they can be financed for and can narrow down their search. It will also give them buying power. Someone selling their home will be impressed by someone who knows they can definitely buy the house. It greatly increasing the chance that any reasonable offer the person makes will be accepted.

4. Look at specific house. This is the part of the process that, if a person wants to work with a real estate agent, they would secure one. It is now time to look at houses. When looking at houses a person should check out all aspects. They should try picturing themselves living there. Check for anything about the house that they could not live with. It is important to consider the fact that once a person buys a home they are usually there for years. It is also important to shop around and not give an offer too soon.

After this point the only thing left to do is make an offer and buy a house. Potential home buyers can ease the process by following these four steps.

Robert Thatcher is a freelance author based in Cupertino, California. He publishes articles and reports in various ezines and contributes on a regular basis to FreeNetPublishing.com [http://www.freenetpublishing.com]

Author: Robert Thatcher
Article Source: EzineArticles.com
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There ain’t no future in the past.

The fact that fewer homes are being bought in this lagging economy has as much to do with a lack of consumer confidence as anything else. We in America are postponing our home-buying decisions because 1) we can’t afford it (or think we can’t); or 2) we worry about the uncertainty of our job situations. The impact of these factors has created a slow-down in housing starts and home sales in general. But back to my point; home buying has much more to do with need that it does market place. For those Americans with a need to make a home buying decision, this terrible economy has actually created a better opportunity to move forward than we’ve seen in nearly 40 years. Interest rates being at near all time lows notwithstanding, buyer’s are in the best position to negotiate a “steal of a deal” than most have seen, or may ever see, in our lifetimes. Real Estate Agents have to compete like never before and the smart ones are reducing commissions or giving a portion back at closing as enticement to choose them over others. It’s that; or go hungry.

If you think education is expensive, try ignorance.

Speaking in terms of Texas, where I conduct my business, buyers who become educated about the actual cost of acquiring a move-up (or down) home are finding unbelievable concessions on the part of sellers and Real Estate sales people. Why? Well let’s just say, the days of fat-cat profits of 6% commissions on a home sale is, at least for now, a thing of the past. 6% on a $200,000 sale is 12 thousand dollars! If the agent works only the “selling side” of the transaction, it’s still $6000 of pure profit. How many of us can pay a few hundred dollars a year, and take a few on-line courses to be licensed to earn that kind of cash for showing a few homes and writing a fill-in-the-blanks contract? The answer is: any of us without a rap-sheet. Agents including me, used to love taking a few years of a home’s equity value and whistle our way to the bank with a big pay-off after closing. Not anymore.

In a negotiation, the dumbest question you don’t ask, is the one you don’t ask.

The game has changed. I just closed a transaction where the buyer got 75% of my commission. My take was the remaining 25% or about 2900 bucks; and I was happy to get it. How did my buyer use his $8800 portion? He paid his closing cost with it, and he was delighted. And I was delighted too because he will tell every friend and co-worker he knows, that there are real deals to be had and hopefully include my name in the conversation. But that’s not the whole story. The seller, faced with a “buyers market “gave my buyer another $25,000 in concessions on the sales price of the home. Am I happy that the seller gave up so much equity to sell his home? No, not really. Am I delighted that I could participate in a buy-sell transaction that met the needs of both, and allowed me to make a reasonable income? You bet. And I’ll do it again. I hope soon.

Blessed are the flexible, for they shall not be bent out of shape.

The moral to the story is this: the economy has created hardship for most of us. But as every savvy business person knows; out of adversity comes opportunity. And opportunity abounds for those who are in a position to capitalize. That’s not wrong; that my friend, is capitalism.

To get information about your upcoming home buying decision and to earn some serious “cash-back” at closing, consider the offer at www.eoptionloan.com “Buyer Cash-Back Offer.” They’re among many out there who are facing the reality of today’s home-buying market place. Regardless of whom you choose to assist you, be sure to let them know that you know there is serious money to be saved in this, your hour of home buying opportunities.

Daniel Garza has been a mortgage banker and financial consultant for the past 29 years, and is a consumer advocate. He enjoys writing articles in his spare time.

Author: Daniel L Garza
Article Source: EzineArticles.com
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Popular, Morocco government is keen to drive through change throughout the entire country and home buying and property development is attracting foreign direct investme property market Morocco can offer a range of opportunities for all budgets and tastes. With Morocco being a warm climate and a country close to the equator it offers many months of sun with much less expensive property in comparison than other similar countries in the region.

With Morocco having a history of home buying & property ownership without deeds it is always best to check title deeds with older property. Older townhouses and land in Morocco tends to present a small problem when it comes to transferring title ownership as it takes much longer to secure deeds for a home & property without deeds. A new built home tends to provide a straight forward home buying ownership opportunity as new deeds and home ownership legal issues can arranged by your lawyer.

Buying Process

- Viewing trips to Morocco looking at potential property and homes.

- Deal direct with home owners with older property as this tends to be the normal practice. Also a good idea to consult with a good English

- English speaking estate agent that will provide suitable property and homes for you to look at.

- View property developers new built apartments and homes.

- Decide on a final price when home buying, which is another custom in Morocco.

- Agree a final price for the property or home.

- Gain the agreement of the home owner or owners to sell the property and accept the terms. – Appoint a lawyer to conduct a survey, legal checks, title deeds check and home ownership of the property.

- Preliminary contract is drawn up when both parties agree the change of home ownership that will detail all terms and conditions.

- Pay a deposit at the initial agreement stage which tends to be higher than other countries.

- Lawyer will also check to see if there is any outstanding debts on the property, as the new owner would inherit all debts when home buying in Morocco.

- In general a bank account in Morocco is required for the payment of property.

- When your professional lawyer and you are happy with the property and all documentation then the final agreement to transfer is initiated by paying the final outstanding balance owed on the purchase of the home.

- Your lawyer will then officially enter the property home buying sale with the government officials. Time period from agreeing a home buying or property purchase to registering the property under your ownership can take as little as a week or months depending on if there are any issues that arise through paperwork or planning.

Fees and taxes are charged around the rate of 6.5% for buildings and land at 1% of the total sales price.

Communicating

Morocco in towns & cities have all the modern means of communication such as broadband and dial up internet, fax, telegram, telephones and mobile telephone signals. Rural areas and the desert at times a mobile telephone signal is weak or no service available and you are very advisable to plan all living and travel in mind of health & safety. Post in and out of Morocco can be slow at time, although sending international or express postage or packages should be the same service as other countries offer. Travel

Airport

Several airports in Morocco, although not all service international flights and can be difficult seeing Morocco by plane with specifically chartering a pane yourself privately.

Roads

Major highways from city to city and towns and other minor roads throughout morocco are mostly usable. Driving around some parts of the country requires four wheeled drive vehicle as the road can range from a rough uneven surface, dirt, rocky and sand. Hiring a car is no problem and driving round major towns & cities which are well sign posted. Toll road payments are present in Morocco and are payable in advance if you wish to use a toll road.

Taxis

Petit Taxi Cheap and most affordable around morocco cities and major towns. Petit taxis are only permitted to ferry passengers in one specific town or city and are not allowed outside the city limits. Grand Taxi Usable for all over Morocco and can take you most places you wish to go. More expensive and comfortable and generally are all Mercedes cars. Good idea in tourist cities to ask for a set price before starting your journey.

Buses

Transportation by bus in Morocco is fairly cheap and in major towns and cities for is set cheap for people to use the bus and afford the fare at the same time. Getting around Morocco is possible by bus and all tourist and a lot of non tourist routes are serviced every day.

Trains

Reliable trains and almost always come on time are the best mode of transport to get around at an affordable price. As like other countries there is first and second class and standard differ according to the choice of carriage you choice to travel. Moroccan national railway company (ONCF office national des chemins de fer) is taking really good care of its customers: train stations throughout Morocco are well-equipped and clean and the personnel are very friendly.

ONCF Call center: 090 20 30 40 Website: http://www.oncf.ma At present the 3 main routes services are: ” Tangier-Kenitra-Rabat-Casablanca ” Casablanca-Marrakech ” Oujda-Fes-Meknes-Kenitra There is also a train line which connects Casablanca to the Mohammed V international airport. Plans are in place to expand the rail network to service more towns and cities throughout Morocco.

Sea

Tangier from Spain, Casablanca and other ports on the coastline of Morocco can be accessed by the sea.

Medical Assistance

Always advisable to have comprehensive medical coverage before leaving home. Morocco has good hospitals, private clinics and doctor available 24 hours a day, although in some parts of the country it is difficult to access medical care. Remote areas and the desert could mean hours before medical assistance arrives and a means of summing help such as a mobile phone is ways advisable.

Ray Blanchett RC Property Worldwide

Home Buying [http://www.propertyworldwideplace.com/public/page.cfm?Page=698]

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Author: Ray Blanchett
Article Source: EzineArticles.com
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The Spanish property crash has in part been caused by massive over development. However although most of the development which has caused the problem has taken place on the coastal areas of Spain, the fall in prices has been seen in inland areas too.

I spoke to real estate agent Zoe Rolland Males from Andalucia Olvera Properties last week. She told me that the market had picked up significantly during the course of this year, but crucially, all the property being sold had been reduced by the owner.

Now in London or New York a statement like that wouldn’t mean very much, as we’re used to dropping house prices during a recession. The Spanish are not. During the Franco years, house ownership was promoted and 68% of people owned their own property. Houses were seen as assets that had some permanence and so never fell in value. After Franco the Spanish economy was driven largely by tourism and construction boomed. For thirty years the Spanish made money building hotels and holiday homes and never experienced a recession. Now for the first time, the Spanish people are feeling the pinch. As a result property prices are tumbling as never before.

Where to buy.

When William Dillard uttered his famous quote “Location location location” he was talking about where to site his department stores, though generally the sentiment works for any real estate investment and is especially true in Spain. There is one simple legal issue that is often overlooked by buyers and ends up causing many problems. The Spanish authorities have a land classification system. When you buy a property or a piece of land it may be urban or rustico (country). There are others such as industrial but I’ll stick to these two for simplicity.

If you buy a property with urban classification your life will be much easier. The telephone company will give you a phone straight away, whereas if you buy with rustic classification you may wait years for a phone! Urban property will likely be on main drainage whereas with country property you will have to solve that one yourself – probably by having a septic tank.

Don’t get me wrong, I’m not saying “don’t buy a farm in the middle of nowhere”. Many people dream of that kind of lifestyle. But for practical purposes as an investor, the chances are you’ll get a better return buying an urban property.

So what types of ‘urban’ property are there? Well much of the over building that has taken place on coastal areas is classified urban. One can pick up some bargains on the coast, especially at auction. This kind of property has a big drawback from the investment point of view. Because there are a massive number of property of the same type it will be many years, if ever, that this type of property attains a sufficiently high price to make a decent return. In fact, there is a danger that now the funds have dried up to build the surrounding infrastructure, many of the developments will decay and the properties within them may become unsalable.

“Thar’s Gold in Them Thar Hills”

For me the answer is in the inland mountain towns around the Murcia and Andalucia regions. There exist a few dozen such villages with stocks of ‘old town’, urban classified property that is relatively cheap to buy (under 70,000 USD) The Spanish town halls are very keen to see these property renovated and often provide grants to replace roofs or spruce up the outsides.

The capital return on an investment like this depends on keeping down the cost of restoring the property and finding a buyer. Fortunately the cost of labour and materials in Spain is relatively low. The market for restored old town property looks bright as the young people in Spain have been priced out of the housing market for many years, and are looking at such houses as starter homes. (top tip: install some form of central heating as the young Spanish buyers expect it)

If you are looking for an ongoing return, the lure of mountain towns is increasingly replacing the traditional ‘sun sand and sangria’ holiday. Restored town houses make ideal holiday rentals for folk who are active. They are walkers, birdwatchers, cyclists, and culture vultures. Not being troubled so much by the weather they are likely to bring you bookings all year round, whereas the sun worshippers are not found in great numbers during the Spanish winter!

Do’s and don’ts – what to look out for.

If you’re looking to invest in a Spanish ‘old town’ property there are a few essential things to consider.

• Flying freehold. Many Spanish properties start off with one owner. When the owner dies the house may get split between siblings who divide the house up. This may result in the rooms on upper floors having a separate owner. These kind of property cause problems and are best avoided.
• Vehicular access. Most Spanish towns originated before the invention of the car. To offer protection from the sun, houses were often built very close together, often with hardly enough room to drive a donkey through. Look very carefully at this. It is easy to be wowed by the charm of an old street but if it is not reachable by car it may deter buyers or renters. Also it may increase the cost of restoration as it may make the removal of rubble and delivery of materials much more labour intensive.
• Noise. Noise pollution may seem a strange thing to consider, but again it has an impact for buyers and investors. It’s not uncommon to find a small business on a residential street, perhaps a carpenter or a metal worker. In Spain it is not at all uncommon for such businesses to work until 9pm in the evening. Another thing to look out for is if the street is a rat run for small noisy motorcycles and scooters, as the Spanish youth seem united in the need to remove the silencers from all of these, and only seem to ride them late in the evening!
• Legality. Do get an independent Spanish solicitor to check out the legality of the property before you buy, making sure the seller is the legal owner and that there is no debt on the property. By independent I mean not connected to or recommended by the agent selling you the house.

If you follow the advice given here, buying a property in Spain is relatively straightforward, and by choosing the right type of property in the right area should give you a secure and lucrative investment.

Stephen Gould is the marketing manager for CSV The Voice, a real estate agency based in the North West of Murcia.

For more information Call Steve – (+34) 647 167 303 or email steve@csvthevoice.com

Alternatively visit our website at http://www.murciaspainproperty.com/

Author: Stephen Gould
Article Source: EzineArticles.com
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Buying a home is something you should do if you don’t mind doing all the handy work yourself. Things like mowing the lawn, shoveling the driveway and taking care of the outside structure are all part of home owning. If you add up the cost of a roof, painting, repairs, landscaping and snow removal and divide it out into a monthly payment for your home it would be very close to a condo fee that you would have if you bought a condo instead. So the costs are very similar for the two types of properties which means the condo fee shouldn’t be the deciding factor.

Buying a condo is nice because you don’t have to do all the added physical work like you would with buying a home. It can also be rewarding to have other people around if you are a people person who likes to mingle with everyone else in the other condos.

The main deciding factor is the fact that a condo is much cheaper to buy. You can use a mortgage calculator or any type of interest calculator to figure out your monthly payment and how affordable it is for you. If you can easily afford a home with the current interest rates and it’s your preference then i say go for it. However, if you feel like you should stick to the smaller mortgage then you might opt to buy a condo instead.

Current interest rates are very important because your monthly payment will change quite a bit depending on which bank you decide to use. Look around and see how much it would cost to lock in the interest rate so that you know what it will be. Then you can figure out exactly what you can afford with a mortgage calculator and make your final decision to buy or not.

Buying A Home VS buying a condo is a big decision to make and you will have to look at the pros and cons yourself. You can also weigh the costs against each other with my Free Mortgage Calculator on my website. I have it available so that you can look at the different loan options and also weight the Current Interest Rates against each other.

I have mortgage payment tips and information for you to look at that will save you money. All of my information is free and I also answer questions via email if you have any.

Author: Chris G Bell
Article Source: EzineArticles.com
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A: No. Just as no one can accurately predict the peaks and valleys of the stock market, the same holds true for housing. If you wait for what you think is the absolute best deal, you could end up waiting for years. All the market fundamentals show that now is a good time to buy. Prices are down, interest rates near historically low levels, and there are many homes to choose from.

If you buy now, you will not only be in the drivers seat during the buying process, you will also reap the gains of price appreciation. Remember, those who purchased homes in the early 1990s during the last big economic and housing downturn came out as big winners.

Q: Should I wait out the market until can I get the same price on my home neighbors got when they sold two years ago?

A: No. It is always better to trade up in a buyers market. While the value of your house has fallen, the prices of higher end homes have also dropped. Here is an example:

Your neighbor sold for $300,000. Assume values in your area have dropped 10 percent, so you could get only $270,000 for your home today. You have your eye on a move up home that previously sold for $500,000, but now is selling for $450,000. If you sold your home today for $270,000 and purchased the larger house for $450,000, the difference in price would be $180,000.

But if you waited to recoup the 10 percent value on your home and sold it at $300,000, chances are the move up home would also increase in price 10 percent to $500,000. That is a $200,000 price difference. So by selling today, you would actually save $20,000.

Q: Interest rates are going down. Should I wait until they go even lower before I buy a home?

A: Interest rates for 30 year, fixed-rate mortgages are currently below 6 percent and are extremely favorable for buyers. In fact, they are hovering near 30 year lows. But waiting to time the market is a dangerous game. Even those who follow the market for a living cannot figure out when interest rates will bottom out. If they could, they would all be millionaires.

And home prices do not necessarily move in unison with interest rates. So, if you decided to wait to purchase a home and the price dropped $10,000 from where it is today, you could still end up losing money. How? If interest rates were to move up by a half a point during this period, the savings on the reduced home price would be more than offset by the higher monthly payment you would be making over the life of the loan.

Q: I have $10,000. Should I put that money in the stock market or buy a home?

A: Purchasing a home is by far the best long-term investment. For example, say you use that $10,000 to purchase a $250,000 home, and the house appreciates a modest 3 percent during the first year. That means after one year, the house would be worth $257,500 or a gain of $7,500. By contrast, putting the same $10,000 in the stock market and posting a similar 5 percent gain would only net a $500 return on investment.

And remember the tax incentives. In most instances, all mortgage interest and property taxes paid in a given year can be fully deducted from your gross income to reduce your taxable income. These deductions can result in thousands of dollars of tax savings, especially in the early years of the mortgage when interest makes up most of the payment.

Q: I am buying my first home but cannot afford the home that I want. Is it best to keep renting and hope that prices will get even lower

A: If you continue to wait, you may never be able to afford to get into the housing market. Even as home prices are currently moderating or falling, depending on where you live, rents continue to climb. When you buy a home, you are also purchasing price stability, knowing that you will pay the same monthly payment for the life of your 30 year, fixed rate mortgage.

Once you become a home owner, you are able to take advantage of the tax deductions that home ownership offers, and you begin to build equity in your property.

With so many homes on the market to choose from, your best strategy may be to scale back expectations for your dream starter home. After a few years, you can use those equity gains to sell your starter home and move into a bigger house. The sooner you make the jump from renter to home owner, the quicker you begin to create and build up wealth for your family and enjoy pride of ownership.

E. Lee Reid is a hospitality, travel and leisure, Disney timeshare resales, vacation real estate, and construction industry expert. He and his companies have successfully built or managed thousands of homes and vacation resort condos at multiple resorts in North Carolina and Florida. In recent years he converted several hotels to condo hotels in the Disney World area of Central Florida. He is a widely quoted author and speaker. Reid has an MBA and will complete Cornell University’s Master of Essential Hospitality Management program in 2008. Reid is also a certified General Contractor, Realtor, and Certified Commercial Investment Member (CCIM) candidate. Visit at http://www.eleereid.com

Author: E. Lee Reid
Article Source: EzineArticles.com
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A lot of people these days are too afraid to buy a home. It is easy to be running scared with all the negative news we are hearing about the housing market not just in America but worldwide. Some people will say the extra financing costs and the potential problems with getting a mortgage make it better to rent.

While other people will say they think it’s a waste to use what usually amounts to their life savings as a down payment, or to cover the costs involved with buying a home. When they can just keep on renting for no extra investment over and above their monthly rent.

It is easier to not do something than to do something, the easiest path to follow is the one you are on.

So many people who would benefit by buying their own home are staying in rented accommodation just because they are to scared to make any changes in their life.

Changes do not always have to be disruptive, some changes can have a very positive effect on your life. Buying your own home will give you a sense of belonging in your community, this is just one of the benefits of buying your own home.

Was this article helpful? If so, please head over to our main Florida Home Loan Report site for more useful information. Want to learn more about home buying? If so, then please read why now may be the best time for you to buy your first Florida home.

Author: Johnny Miller
Article Source: EzineArticles.com
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One of the most important things that I advise clients on is to be honest with me. Why is this so important? Let me give you the answer in an example. I had a client who told me that they made $85,000 a year and that their credit was perfect. So, we set about looking at properties in the $450,000 – $500,000 range. After several weeks of looking, we finally put an offer to buy a beautiful home that they were ecstatic to own. When the loan officer took their information, ran their credit and pulled their W2s, not only was their credit rather poor, but they made only $70,000, not $85,000!

That immediately disqualified them from buying the house of their dreams! I advised them that this was not how to buy a house. The loan officer refused to work with them further and the market for the house price they could afford was clearly not in their range. Unfortunately, they shot themselves in the foot.

Another great tip is to fill out a loan application very early on in the game. This is especially true today, when there is a scramble to buy homes that are now “attractively priced” due to the numerous foreclosures and short sales. But completing this application way in advance, you will save your loan officer, your agent and yourself a lot of time … focusing on houses in the price range that you really can afford.

A home warranty is always one of the best investments. I recommend this anytime I advise clients on how to buy a house. In this way, you are insuring certain items in the house in case they break down. For example, your washer / dryer, refrigerator, and internal plumbing are things that can be covered by a home warranty. Many people do not know that you can also include above ground pool/spa, as well. This one warranty item saved my client over $1,000 one year. Also do not forget that the home warranty can also be renewed each year.

Comparing the price of a home with other similar homes in the area is key to ensuring you are getting your monies worth. Buying a house is one of the biggest investments in most people’s lifetimes. Make sure that you have built in the possibility of a long term financial security with the house.

Christine Tran is licensed real estate broker. You can find out more home buying secrets and real estate investment tips at Our Investment Group.

Author: Christine L. Tran
Article Source: EzineArticles.com
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