http://www.snobbyhomes.co.uk/snobbyblog/index.php Copyright 2012, Snobby Snobby en-US SPHPBLOG 0.5.1 http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry120517-052240
The UK media has drawn attention away from the UK recession and its economic woes by highlighting the political confusion raging in Europe with a new French President questioning austerity, and the inability of Greece to form a government. However, from a European perspective on the ground, matters here are far more relaxed, with a firewall of billions having been built to protect the euro and prevent contagion spreading from country to country.

The Greek voters 'punished' the two main political parties by voting for minority parties, but as 77% of the electorate still wish to remain in the Euro, pundits in the know expect the new election, in June, to return a strong government that will continue with the Greek programme of cutting costs and making the country more competitive.

With the pound set to get even stronger this means a new build two bedroom detached home, in western Crete, costing 136,950€ just got a whole lot cheaper. Instead of costing you £123,378, a few months ago, the price has dropped today by a whacking £13,000 to a fantastic £109,560!

BUT WHAT HAPPENS IF GREECE GOES BACK TO THE DRACHMA?

There would be a short-term shock, as people rushed to put their savings abroad and there might need to be temporary capital controls to regulate the amount of money leaving the country.

Soon, though, the effect of cheaper exports would start to tell. That is what has happened in Iceland which, following a banking crash four years ago, is now comfortably outgrowing the eurozone.

Imagine, as you book your summer holiday, that the new exchange rate suddenly makes Greek resorts 40% or 50% cheaper than their competitors. Now imagine every business making a similar calculation when it comes to sourcing goods.

The blood-curdling threats being issued by Eurocrats should sound familiar. The UK went through precisely the same experience 20 years ago, when we were stuck with an over-valued exchange rate in the Exchange Rate Mechanism.

As in Greece, our leaders – all the main parties, the CBI, the TUC, the Bank of England – assured us that leaving the ERM would be disastrous. On September 11, 1992, John Major solemnly told us that withdrawal was ‘the soft option, the inflationary option, the devaluer’s option, a betrayal of our country’s future’.

Four days later, we left the system and our recovery began immediately. Inflation, interest rates and unemployment started falling, and we enjoyed 15 years of unbroken growth – until Gordon Brown came along and blew it away.

So with the savings to be made on your dream of buying a home in Crete, what price would you put on 320 days of sunshine a year and a quality of life which costs far less than living in the doom and gloom and cold of the UK.
]]> http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry120517-052240 Snobby Thu, 17 May 2012 10:22:40 GMT http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry120326-031349
When the UK had to go cap in hand to the IMF in the seventies in order to borrow to survive, it was North Sea Oil that helped the nation.

Notwithstanding the agreed EU loan package, Greece too can at last see a light at the end of the tunnel with the discovery of natural gas and oil.

Currently eight of the world's largest seismic survey companies are bidding for exploration. Two will be awarded contracts by end April to begin exploratory drilling before the end of 2012. Substantial hydrocarbon deposits have been identified in the Ionian Sea, near Corfu and another south of Crete.

It is anticipated Greece will begin earning a revenue stream from these deposits prior to 2020.

Greeks are lazy good for nothings!
For nearly six years Greece has had to endure the longest recession in history. Unemployment stands at over 20%. Savage austerity measures have slashed wages and pensions in an effort to reduce sovereign debt. Despite this the Greek people are struggling to move forward, notwithstanding the UK media purporting to show Greeks as lazy good for nothings.

Research carried out by the OECD - the respected Organisation for Economic Co-operation and Development, has found this image of Greeks to be untrue.

Statistics by the OECD have revealed the average German works a total of only 1,390 hours per year. In Spain it's 1,654 hours while in Portugal it's 1,719, but the average Greek works a massive 2,119 hours per year!

The ONS - the UK government's Office for National Statistics confirm that the average worker in Britain only works 1,888 hours per year.

That means the average Greek works more than six weeks a year longer than his counterpart in the UK.

Greece sees the light
With an abundance of sunshine, Greece is seeking to export power generated by solar panels before 2015.

In the coming weeks the Energy Minister, George Papaconstantinou has confirmed Greece will adopt legislation to simplify planning and aims to connect its first 300 megawatt plant by the end of next year as part of the Greek Helios solar-energy project.

Named after the ancient God of the Sun, Helios is a 20 billion investment aimed at installing 10 gigawatts of solar panels in Greece by 2050. Based on current solar energy prices in Germany the project has the potential for generating a revenue of 80 billion euros for Greece over the next 25 years. The electricity produced will be exported to other European Union nations and will also help Greece meet the EU objectives for renewable energy targets in Europe and low carbon economies by 2020.

Greece is doing great!
With the UK sovereign debt standing in excess of 1 trillion pounds - and still not being markedly reduced - Greece should be applauded for the steps it has taken to redress its sovereign debt.

Did you know, with current sovereign debt and borrowing needed to prop up major banks, plus the debt of pension funds such as the Post Office to be addressed - the UK borrowing percentage of GDP is the same as Greece!

While the UK has been dilly dallying, savage austerity measures have been introduced in Greece and an EU Taskforce established to support the implementation of structural reforms to modernise the country's bureaucracy.

So what has that accomplished?

Over two years Greece has achieved an annual rate of fiscal consolidation averaging 4.2% of GDP - the highest level recorded in the developed world over several decades.

Greece ranks number two in terms of the degree of adjustment happening in its economy during 2009 - 2011, according to figures released by Euro Plus Monitor.

The stereotype of Greece criticised as the lame, lazy duck of the EU is now no longer true.


]]> http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry120326-031349 Snobby Mon, 26 Mar 2012 08:13:49 GMT http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry120222-052213 GREECE BORROWED MORE THAN IT COULD AFFORD!
There's no doubt Greece has been made the scapegoat of Europe, being pilloried in the media spotlight with half truths and distorted facts. Much of the media coverage refers to - bailout, aid, financial assistance - all giving the impression that cartloads of cash is arriving in Athens for a great giveaway.

The reality is somewhat different. Shut out from international markets, the Greek government was forced to borrow from Germany, France and others, rather than from banks and investors that would normally have bought government bonds. Greece was able to borrow from these countries at about 3.5%. As Germany borrows on the market at around 2% it makes a whopping 75% profit when lending to Greece. With Germany advancing 8.4 billion and France 9 billion, these countries stood to make about 600 million euros in profit.

But the 130 billion bailout will help all that won't it? The short answer is no. Nearly 94 billion will go to pay interest, recapitalize banks and private sector payments to restructure borrowing.

POT AND KETTLE!
Greece was never the only one. Too many governments - the UK included - allowed sovereign debt to get out of hand. In 2012 the UK will spend £705 billion to help keep public services going - but will raise only £5,750 billion in tax revenue. That gap, plus existing borrowing, means the country's deficit is well over £1 trillion - equivalent to every man, woman and child in the UK owing £16,400. Yet the UK government has not yet introduced savage austerity measures such as those being endured by the Greek people.

As Greece makes valiant efforts to reform - just as the UK had to do in the 1970's - Greece should not be treated as the pariah of Europe, when there are so many other countries in a similar position.

GREEKS ARE LAZY!
Well look at the facts. The average German works only 1,390 hours per year, while the average Greek works 2,119 hours per annum. So who's lazy?

The Greek people are enduring tremendous hardship with increased taxes, salaries and pensions cut overnight and the minimum wage slashed to less than £500 per month - that's nearly 30% less than the minimum wage in Spain and 50% of that in the UK. The 'Troika' of lending bodies to Greece have crushed the country into accepting cuts so deep that Greece will experience a depression far deeper than that of the infamous Great Depression during the 1920's in America - the world's worst ever economic downturn.

SO WHAT DOES THAT MEAN TO ME?
The austerity measures affect the incomes and pensions of locals and in the longer term, with lower wages, this will gradually drive down the cost of living. As you probably have capital and pensions based in sterling this should mean you get even more for your money.

Crete is the location which accounts for 85% of overseas buyers in the Greek property market. As it's cheaper to live in Crete than it is in the UK - even now - that can only be better for you. Coupled with a far better quality of life and not to mention 320 days of sunshine and no more freezing cold winters, you owe it to yourself to turn that dream of yours into reality - and check out the best value for money when buying a home in Crete.
]]> http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry120222-052213 Snobby Wed, 22 Feb 2012 11:22:13 GMT http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry111116-045917
Recent events have painted a picture of Greece and its people as being greedy and lazy good for nothings, but is this a case of a pot calling the kettle black? Go back three years and the UK banking system was in meltdown, people were up to their necks in debt, maxing out on credit cards as if there was no tomorrow. That was never the case in Greece. It's a cash society so there was never the same level of personal debt and banks didn't have to be bailed out by tax payers either. Yes, the Greek government did borrow more than it should - but then so too did the UK. All countries have to borrow money in its daily business and it's confidence that enables them to secure realistic rates of interest. Unfortunately the markets turned on Greece and raised their lending costs so much that compound interest inflated borrowing repayments beyond sustainable levels.

In a desperate fight to contain the country's solvency the Greek government introduced a whole raft of measures to reduce sovereign debt.

Tax thresholds were slashed from £10,300 down to £4,300. VAT was raised to an eye watering 23%. All pensions above £860 a month were cut by 20%. Public sector wages were chopped by 20%, while employees of state-owned enterprises had wages decimated by 30%. 'Solidarity' payments of 1%-5% of annual salaries were deducted in lump sums. If you owned a car with an engine size of over 3 litres you had to pay a one off 'Solidarity' payment of approximately £450 and the latest move has been the introduction of a property tax. Based on the size and location of your house, typically on a two bedroom Snobby, this amounts to around £250 per year, levied on the electric bill.

All this and a typical salary in Greece is only around £1,100 per month. Not only that, but unemployment stands at 18% and that does not include the forthcoming wholesale reduction in public sector employment.

As with all things in the world of politics, it's the man in the street who ends up standing there in disbelief, having to pay for the mess created by politicians. While for the most part austerity measures do not really effect ex-pats, for Greeks times are hard - and will probably remain so for some time to come as the government grapples to stimulate growth, while a battered and bruised population is forced to dig ever deeper into their pockets to help fund it.

After all said and done, for Brits wondering whether to make that move to the sun, don't believe what the UK media says about Greece. Far better to listen to someone who actually lives there! Crete is still a safe place to live, the weather is wonderful, the crime rate is low and your UK pension buys you a far better lifestyle compared to the doom and gloom of having to live in the UK.
]]> http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry111116-045917 Snobby Wed, 16 Nov 2011 10:59:17 GMT http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110922-124813
Not a Snobby I hasten to add, but houses built by other developers.

Culturally when a local buys a house it’s invariably for life. Following this thinking and the fact that a Greek property contract is extremely difficult to follow, there have been many occasions where builders have flouted planning issues to cut corners and costs, never thinking they would ever be discovered. However, we Brits are more used to selling a place every few years and these problems have begun to rear their head, due to more effective monitoring and planning regulations which are being considerably tightened.

Pools have been a way to cut corners. A Planning license can cost around 4,000 or more euros. Build without one and this can save a developer quite a bit of money. When the owner comes to selling, chances are this illegality will be picked up by the purchaser’s lawyer and the sale is lost.

When building outside the village boundary, a building license will be granted only for a single linked property. While drawings submitted will show perhaps three properties, they are linked together in some way to create one unit of construction and a building license is issued on that basis. However, the developer will often not comply with the license and builds three separate detached houses, which can be sold for a lot more money than a linked property.

Snobby only ever buys land within a village boundary, where it can be legally split into single freehold plots, for individual ownership, just as you would expect in the UK.

However, other developers have built on land outside the village boundary where individual ownership of plots is not legally possible. Let’s say there are three houses on a development. Each home is defined by a topographic drawing which identifies each plot, but the purchaser will own his land as a percentage of the whole site, which is jointly and severally owned by the other owners.

BUYER’S CHECKPOINT

If you fall in love with a resale, here are two important points you need to check.
1 – The topographic survey of the property should have signatures signed by every neighbour who owns a boundary with the plot. This should prevent any land disputes.

2-Have your lawyer employ an engineer to survey the property. This may cost, but it will give you a better opportunity to judge the legality of the property. For example the building license which forms part of the contract may show 65 sq. m. of building, but the owners have added on an outside kitchen without planning. That’s illegal. This couldn’t be picked up just from sitting in an office.

If all this seems a little fraught and a bit of a gamble, buy new and take the simple and secure route by buying an honest Snobby. We guarantee every Snobby is, and has always been, 100% legal and as safe as houses.

]]> http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110922-124813 Snobby Thu, 22 Sep 2011 11:48:13 GMT http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110810-132527
Except they can’t. A stagnant UK property market means they’re going nowhere – but now help is at hand!

The island of Crete has always been popular for holidays. Now it’s attracting the attention of Skiers due to its fantastic weather with 320 days of sunshine a year and no freezing cold winters. That’s a big saving on the energy costs you pay in the UK. There’s no council tax, which saves a thousand or so, and eating locally grown produce is not only better for you, it’s cheaper too! A couple can live comfortably in Crete on a pension of £10,000 a year. Just compare that to the UK!

However, there’s a big fly in the ointment preventing Skiers from enjoying this brighter lifestyle. The UK property market is in the doldrums, preventing many from selling their house, which they need to do in order to buy a home in Crete. Most people have sufficient to put down a deposit, but need the money from their house sale in the UK to pay the balance. In today’s market there’s no knowing when that will be.

Snobby Homes is a leading property developer in western Crete. Their Marketing Director, Mike Saunders says, “We’ve seen people devastated, having fallen in love with a development but unable to proceed because they cannot sell their house in the UK. Our Helping Hand scheme is very simple, it allows buyers to realize their dream now - and there’s absolutely no risk.”

Get a feel for the quality and see the specification of a Snobby show house and check out locations where Snobby are building. If you fall in love, then a Purchase Agreement is prepared, which is a legal quotation, confirming specification, plot and freezing the build price for either 1 or 2 years. Within this deed you have the legal right to delay construction until you have sold your house in the UK, which means you’re always ahead of the game. You don’t pay a penny more, there are no stage payments and the balance due is only paid when your new home is complete.

What’s more when your lawyer pays over your deposit, Snobby transfers ownership of the land into your name, so your money is never at risk.

Says Saunders, “Our Helping Hand scheme means you can fall in love with a plot and without any pressure, realize your dream, secure in the knowledge that you’re in absolute control.”

Snobby Homes have several small developments along the cost of western Crete. They are proud of their reputation of building quality houses with a luxury specification - the lowest price in Crete for new build detached homes. What’s more Snobbys are sold at an all-inclusive price which means you know precisely what to budget for, whereas all other builders and agents add on many thousands extra, on top of the house price, to pay for taxes, legal fees and purchase costs.
]]> http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110810-132527 Snobby Wed, 10 Aug 2011 12:25:27 GMT http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110707-121821
There have been demonstrations in the streets of Athens, but riots happen in London too! In both cities peaceful protest was taken over by publicity seeking anarchists pandering to the media who much prefer the excitement of riots and tear gas, because it makes more interesting news. Bad news is good news. Good news is just boring, which is why we’re fed a constant stream of spin that, in the end, brainwashes us into believing what we’re reading is true. You’ll probably see the same events played out time and time again throughout a summer of discontent when public sector workers all over Britain will be going on strike! Seen in the Greek media it will seem as if anarchy is running rife in the UK!

It’s a fact of life, all countries have to borrow money. While the UK pays loan interest of £120 million per day, it’s fortunate in borrowing at low rates. Unfortunately all the hype directed towards Greece by the money market has sent the cost of government borrowing to unsustainable high rates of interest. Therefore the Greek government has agreed to pass severe austerity measures on the country in order to provide the IMF and EU with the confidence needed to provide loans at a realistic rate of interest.

While tax payers money was used to give life support to the UK banking system to prevent it crashing, Greek banks were more astute and solid, requiring no cash support as their borrowings accounted for no more than 19% of assets – and there is a government fund of 10 billion to top up the banks’ capital if at all needed.

When it comes down to it, both countries are up the creek without a paddle, burdened by levels of public worker employment, far greater than the wealth creating private sector. Consequently public expenditure has to be brought under control. Neither the British nor the Greek man in the street want public services cut, or have to pay higher taxes, or work longer before retiring. You can argue all you like against austerity measures but when push comes to shove where would you prefer to live? Which offers a better quality of life – the UK, or Crete?

Having a better lifestyle is not all about money; that’s just part of the equation, but OK, let’s look at living costs first. Crete offers two large financial savings. There’s no council tax or TV license – and with mild winters you don’t need to budget for heating costs from October through to May. Those savings alone add up to thousands. What’s more, with solar water heating you get boiling hot water – for free – throughout most of the year. Average monthly salaries in the UK are about £2,350, while in Crete it’s only around €1,200 (£1,060) per month, so you can tell, the cost of food in Crete is cheaper than in the UK.

We estimate a couple can live in Crete on £1,000 (€1,130) per month, which includes paying utilities, housekeeping, food bills, running a small car and eating out once or twice a week. And food seems to taste far better, because it’s locally grown and healthier too. In Crete, the local greengrocer only sells what’s in season – unlike the UK where fruit and vegetables are ‘forced’ and shipped in from all over the world - so instead of being available only in June, you can buy bland tasting strawberries all year round!

And then there’s that indefinable – ‘quality of life’. Crete has the lowest crime rate in the EU. In villages people rarely lock their cars or front doors. The weather is wonderful – 320 days of sunshine a year – and there’s no frost, ice or snow in the winters. A walk along the beach in January, under a blue sky and warm sun, does wonders for the soul! Stay in the UK and winters – and life – is all doom and gloom. Cretans are a warm friendly people who take great delight in getting to know new neighbours. Before you know where you are, you’ll be invited to weddings and christenings, village events and family celebrations. There is something intangible about living a slower life, a life governed by the seasons, where you appreciate the kindliness of neighbours, instead of having to rush everywhere, here and there, yet never seeming to get anywhere.

Live in Crete, let the rest of the world pass you by and simply enjoy life. You can afford it! And if all the pessimists are right and in years to come Greece ever does revert back to the drachma, then life in Crete will become even more affordable!

]]> http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110707-121821 Snobby Thu, 07 Jul 2011 11:18:21 GMT http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110422-093129
Barclays and the Skipton Building Society have marked the start of the home-buying season by slashing the rate for its two, three and five-year fixed-rate deals and also some of its tracker mortgages. At Halifax and Northern Rock, managers have also stepped into the price war, lowering rates on their two and three-year fixed rate buy-to-let mortgages. Other high street lenders are expected to follow suit, offering deals in a bid to tempt homeowners.

David Hollingworth at London and Country Mortgages says there were increasing signs that the mortgage market is loosening up, even for first-time buyers. 'Swap rates, which fixed-rate mortgages are linked to, have fallen back quite substantially over the last week, so there’s room for lenders to get more competitive,' he said, adding: 'We’re seeing more lenders offering cheaper deals, even at 90 per cent loan-to-value for the first time buyers.'

BUYING PROPERTY IN CRETE

The property market in Crete has undergone tremendous change over the last couple of years. Eight years ago, everyman and his dog appeared to be buying a property in Crete, but then, in 2008, someone suddenly turned the light off and developers, builders and estate agents woke up to find nobody was out there anymore!

Now, in 2011, Snobby is the only builder in Greece regularly advertising in the UK – with full pages in publications such as A Place in the Sun and features in many national newspapers and magazines. What’s happened to all the developers and estate agents? Visit Chania and estate agent offices have all but disappeared. Where have they all gone?

Unlike Snobby, other developers are weighed down by bank borrowings and so highly geared they can no longer afford to advertise. They have been forced to follow the marketing route of estate agents by advertising only on the internet – because it’s cheap. Google ‘buying Crete property’ and you get 16,700 possible searches. What does that mean for you? Is it one man and his dog? A website can still be live long after the business has died. Buying a house is all about trust. So what can you do to ensure you are armed with the total picture and all risks are minimized?

WHO ARE YOU DEALING WITH?

If you’re researching on the web, check for a guarantee of integrity. AIPP is the UK consumer protection federation safeguarding the interests of those buying property abroad. Before a company can carry the endorsement of the distinctive AIPP green and blue logo, the financial and operational criteria of the business is strictly vetted to ensure exemplary standards are being met. Snobby is one of the very few building companies in Crete to be recognized by AIPP.

QUALITY OF INFORMATION

A thumbnail picture and a few words is hardly a sufficient basis on which to gain a real insight into a property. If you see a house of interest on-line, ask for more information. If a company cannot send you a printed corporate brochure enclosing property details, then you have to wonder whether you’re dealing with a credible company. Are you prepared to incur the cost of air tickets and accommodation on the strength of something and nothing you’ve only seen on the web?

CHECK THE COSTS OF BUYING

Use an estate agent and you’ll be charged 2% of the property price as commission. Yes, that’s right, the buyer AND the seller both pay 2%. Then there’s the property tax, Notary costs, legal fees, utility connections which can all add up to around 20,000€ on an average two bedroom house. It’s worth bearing in mind Snobby always INCLUDE all purchase costs within the house price, so you know precisely how much to budget. With any other company you need to allow anywhere between 10% and 18% ON TOP of the house price.

ARE THERE BARGAINS TO BE HAD?

UK property prices have plummeted. In Spain a vast glut of unsold properties have driven prices into freefall. However, house prices in Crete have remained relatively stable, due mainly to the ratio remaining fairly balanced between the number of buyers in the market and the level of property for sale. Of course you may find what seems to be a really low priced property, but you do need to tread extremely carefully when chancing across a real bargain – or it could cost you dear in the end. There’s no such thing as a free lunch!

Snobby is probably unique in Crete for having no bank borrowings and is therefore able to structure its costs far more economically than most. That is why we can proudly claim Snobby prices are the lowest in Crete for new build detached homes. Check out the Snobby specification and be amazed at the unbeatable value on offer. Now is the time to buy in Crete. Now is the time to view a Snobby.
]]> http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110422-093129 Snobby Fri, 22 Apr 2011 08:31:29 GMT http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110308-120359
Typically a couple will receive a state pension of around £690 per month in the UK. It doesn’t take much working out to see that once you’ve paid the main living costs there is not much left over to feed and clothe yourself.

Those moving overseas do so because of the weather and the chance to enjoy a far better quality of life. Crete is a haven for Brits who move there because of the glorious weather - 320 days of sun each year – no freezing cold winters - the lowest crime rate in the EU – and friendly and welcoming locals.

So could you really live on an old age pension in Crete?

Taking average costs for a couple living in a two bedroom detached house we have first separated the annual running costs of a house, both in the UK and in Crete. To simplify matters we have converted euros into sterling.

UK COSTS Per Annum
Council Tax - £1,200
TV License - £145
Water - £350
Electric/Gas/Heating - £1,900
House Insurance - £400
Car Tax - £155
Car Insurance - £400
(Full no claims 3rd party 1.6 engine)

TOTAL COST PER ANNUM - £4,550


CRETE COSTS Per Annum
Council Tax - 0
TV License - 0
Water - £135
Electric/Heating - £1,060
House Insurance - £150
Car Tax - £130
Car Insurance - £400

TOTAL COST PER ANNUM - £1,875

Thus, like for like, you would be saving on out goings in the region of £2,650 by living in Crete. The main reason for this is due to massive savings on fuel costs. Due to the temperate climate, in the main, you don’t need heating until the evenings and then only over a four month period and for several months of the year free hot water is provided from your solar system. In Crete there is no council tax or TV license either.

The annual UK state pension equates to £8,280. On our typical expenditure above, that means you have £3,730 left over in the UK – or £6,405 if you live in Crete.

In the UK on your state pension that means an average budget of £309 left over per month to feed, clothe yourself and enjoy life. However, in Crete you’d be wondering what to do with £534 every month.

SHOPPING
Without being extravagant in the UK you would probably need to spend all your £309 on food and housekeeping – which leaves zilch for clothes or going out – even if you could afford the petrol!

In Crete a monthly shop, full of goodies, would set you back around £280 – and that leaves £254, each and every month to indulge yourself. Eating out at a taverna, with house wine, would set you back around £20 or so, per couple. On that basis you can afford to eat out twice every week and still have around £100 left over from your pension each month.

PROPERTY
Moving to Crete requires careful planning with one eye on the future. It’s far better to go for something smaller, leaving you with a nice little nest egg, than spend up to the hilt on a huge house, out in the wilds, on acres of land. Living that dream could well end up a nightmare and exhaust your savings.

As you get older you need to be a short stroll away from amenities and close to a bus service should you be unable to drive. Snobby design their homes to appeal especially to the UK market. The properties have a high specification and we proudly claim to provide new build detached homes at the lowest price to be found in Crete. What’s more the prices are all-inclusive of purchase costs, taxes and legal fees – so you know precisely what to budget for.

Snobby has several small developments of bungalows, set quietly away, yet within a stroll of the village. Icarus Court is a prime example, with four properties in the village of Sirili and our development at Gerani - Village Walk - where we are building three homes.
]]> http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110308-120359 Snobby Tue, 08 Mar 2011 12:03:59 GMT http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110121-105009
Consequently a journalist commissioned to write an article about buying property in Greece sits behind a desk in his London office and is forced to research in the same way as you – by surfing the net. So what’s wrong with that?

When you come to live in another country you will often base a decision by falling back on a lifetime’s experience of living in the UK. “We do it like that in the UK – it must be the same here.” Well often or not, it isn’t. Ill-informed ex-pats in Greece will inadvertently post incorrect answers to questions on internet forums. This is then picked up and the word spreads onto other sites to become urban myths which are then, in turn, published in mainstream media.

Can you hear my drum banging? It’s a subject close to my heart - the deafening sound of Chinese whispers you hear on buying property in Greece.

So, from someone on the street as it were, let me attempt to set the record straight.

BUYING PROPERTY IN THE UK

As a buyer in the UK you know you will have to pay legal fees and stamp duty, dependent upon the house price. Meanwhile the seller will have to pay his own legal fees and the sales commission charged by the estate agent.

BUYING PROPERTY IN GREECE

In Greece it’s a completely different ball game.

Nowadays Snobby is virtually the only builder in Crete advertising in UK publications such as A Place in the Sun. All the rest can only afford to use the internet and local estate agents. What does this mean?

Say you stumble across an estate agent's web site in Crete and fall in love with a resale two bedroom house , and want to buy it for an amazingly low 115,000€. How much will you really have to pay?

In Greece, it is BUYERS who incur fees from the estate agent, up to
2 ½% of the house price. The same percentage is also charged to the vendor. However, it has been known for a seller to say, “I do not wish to participate in paying these fees.” In which case you could end up with paying up to 5%, depending on how much you love the house! That could set you back up to 5,750€.

In Greece, lawyers do not draw up contracts. This is undertaken by the Government Notary who will also verify how much tax is to be paid – dependent upon location and size of land. Unlike the UK where you buy the deeds to a house, Greek law is different. The contract, supported by a topographic survey, drawn and registered by an official structural engineer, goes into great lengths to describe the specific dimensions of the land – for in Greek law whoever owns a plot of land is the legal owner of whatever is built upon it – albeit if someone inadvertently builds on your land, it’s yours!

The Notary will determine the amount of tax you have to pay, which is based upon the objective value of the property and could be, on our example, perhaps 50,000€. Currently you will have to pay 9% of this sum on the first 14,673€ and then 11% - 13% on the balance, which is determined on location. The Government Notary will levy a fee of 2% on the sale price of the property – and your lawyer will charge 1 ½%.

All these charges can add up to around 14,000€ or more, making the bargain buying price look a whole deal less attractive at 129,000€.

Snobby’s are now built with thermal brick for superb insulation and a host of new features for 2011. Even so, you’ll find when you add all the buying costs and compare what you get for your money, then it becomes obvious that Snobbys always provide far better value.

It’s also worth noting that a resale property comes with no guarantee and depending upon age may not conform to the latest anti-seismic build standards, or meet current planning requirements.

When you make true comparisons it is small wonder that Snobby is doing so well.

Make the comparison, do the math and you will find Snobby’s policy of all-inclusive prices PLUS an unbeatable specification means we can say categorically that Snobby’s represent the best value and lowest prices for new build detached houses you are likely to find in the whole of Crete.

]]> http://www.snobbyhomes.co.uk/snobbyblog/index.php?entry=entry110121-105009 Snobby Fri, 21 Jan 2011 10:50:09 GMT