Help for First Time Buyers

• What a First Time Buyer needs to know
• Points to consider
• How much can I borrow?
• First Time Buyer Mortgages
• Real Estate Transfer Tax
• Protecting your investment
• Choosing expert help
• Buying with friends or family
• Stages of purchase
• Shared equity

Points to consider

Caveat Emptor
Most issues associated with the purchase of a residential property are not unique to first time buyers. However, if you have never been through the property purchase process, then there is a greater possibility that something might catch you out.

Two heads are better than one: When viewing a property, take your partner with you. You will have a great deal to absorb in a relatively short period of time, during a viewing, and it is easy to miss what may turn out to be critical details in the heat of the moment. Your companion may have noticed things that you did not and vice versa. If you feel that you have not taken in the whole picture regarding the property, arrange a second viewing.

Initial costs: Be sure to calculate ALL the preliminary costs associated with your property purchase. Most buyers remember to include solicitors fees, real estate transfer tax, brokerage fee and mortgage arrangement fees but do not always allocate enough money to cover furnishings (and remedial building work in an older property).

Amenities: Decide what type of amenities matter to you. Do you want to be near shops, kafenia and taverns or would closeness to the sea or the Locals matter more to you buying the right property is not simply a matter of bricks and mortar.

Public transport: Being close (but perhaps not too close!) to a main bus route is beneficial, especially if do not want buying or renting a car during your stay.