Looking for land on a Greek island can be a rewarding experience, but it’s essential to consider certain factors before making a purchase. Here are a few things to keep in mind:
Building Code and Legal Requirements
Before even begin looking for land, it’s important to understand the building code and legal requirements on the island. Regulations can vary depending on the zoning, so it’s crucial to ensure that the land is suitable for construction. Greece has a complicated history of changing laws and regulations regarding land ownership and construction permits, so conducting thorough due diligence on the property, including researching its legal status and ensuring that all necessary documentation is in order, is essential.
Choosing the Right Location
While an idyllic view may be a weighing factor, other considerations such as legal restrictions, soil quality, and topography can impact the viability of construction and the overall cost of development. Researching and choosing a location that suits your needs and preferences is crucial. Keep in mind that this has certain repercussions that vary from the project budget to the energy consumption of the building.
Working with Trusted Professionals
Working with reputable professionals, such as real estate agents, lawyers, and engineers, can help make the process smoother and less stressful. A trusted real estate agent can help you navigate the local market, and a lawyer can ensure that all legal requirements are met. An engineer can assist you in identifying any potential issues with the land before making a purchase and explaining the potential of each property in terms of development.
Accessibility
Ensure that the land is accessible by road, and consider the proximity to the airport or port, as well as whether it has the necessary infrastructure for development. Check if the land has access to necessary utilities such as water, electricity, and sewage, as this will be crucial if you plan to build a house on the property. Consider the road and transportation infrastructure on the island, especially if you plan to live there full-time later on.
Timeframe
Bureaucracy can sometimes cause delays in transactions in Greece, make sure that you allow more time for the process. The speed of the transaction can vary depending on the island’s location and the local real estate market. Islands that are more popular with tourists and have a more active real estate market may offer a faster transaction process. Working with a local agent who has extensive knowledge of the island’s real estate market can help you navigate any challenges and ensure a smooth transaction process. Permit delays can also be a significant concern when building on a Greek island, so factor in these delays when planning your construction timeline.
In conclusion, purchasing land on a Greek island can be a worthwhile investment, but it’s important to consider these crucial factors before making a purchase. By taking them into account, you can make an informed decision and ensure a smooth buying process.