Buying a house abroad: that's how we did it!

I regularly get the question "can I ask how you bought a house on Karpathos?". Logically, it is of course special to buy a house abroad, especially at our age. Yet we do not see buying a house abroad as an impossible one. In fact, I think a lot of people could do this too. Why? We tell you that on the basis of a number of tips that have helped us. Enjoy!

Do your priorities lie in buying a house abroad?

Many people are quick to respond "I don't have money for this or that" or "I don't have time". Bullshit. You do have money and you also have the time, you only set other priorities πŸ˜‰ This is of course completely fine, but that is something that you have to accept. And I understand that a house on Karpathos is not for everyone, but if you start setting priorities, a large part could also do this. For example, we do not live large in the Netherlands, just in an apartment complex (a starter home). We had some luck with the housing market. We have been living here for 4 years now and at the time the interest rate and house prices were a lot lower. Yet if we had already started living bigger, we would never have been able to afford a house on Karpathos. That's why setting your priorities is important.

That doesn't mean I never long for a bigger house with a garden ;). But I am aware of why I do not (yet) live in a larger house. I know very well that for me a house on Karpathos and a small (er) house in the Netherlands is more important than a villa in the Netherlands (proof of speaking). I can't afford a villa haha).

In this way, you need to check with yourself (and your family) where your priorities lie. Do you really need that new car or that new kitchen? We have been driving the same car for 6 years. This is Vincent's first car and we deliberately only kept one car there. Sure, we would like a new one, but our priorities are simply not there.

Buying a house abroad

... and have a little guts

Normally, of the two of us, I am the one who makes the most impulsive decision, but with buying our house on Karpathos, Vincent was right. Money was there and we wanted it, so why not?! Still, I was in the "yes, but what if..." phase. Vincent remained very cool about that, which I really admire. What was the worst thing that could happen? That for whatever reason we could no longer afford the house. Okay, violently you think, but that is solved very quickly by selling the house again. Not nice, there is a solution for everything.

Stepping out of your comfort zone is incredibly difficult. Especially because your environment is often inclined to put you back in when you step out. Reflecting on the worst thing that can happen to you will certainly help you to make that long-cherished decision (s). Because often that worst event is not so bad, you get over it or what happens to you, if you do it, much heavier than if you do not do it.

Money, money, money!

Of course you need money to be able to buy a house abroad, but you don't have to be a millionaire for that. It's not that we're choking on the money and although Vincent has a well-paid full-time job, I wasn't working at the time, due to illness. I still only work 13 hours a week. Just look openly at the options that are available, because there are plenty of them!

For example, do you have savings in the bank? If you already have a nice amount in the bank, it is smart to look at the reason for that money in the bank. Are you saving specifically for something? Is it just there? Consider whether you can miss the money now. Also think about your priorities! We had a nice savings for our wedding day on the couch. However, a house abroad was a great opportunity for us: we had to seize it! Money for a wedding will come later.

Unfortunately, it is not possible to get a direct loan from a Dutch bank to buy a house abroad. Something that is possible when you have a house in Germany or France in mind. Nevertheless, you can arrange a loan through the bank for a house abroad, albeit in a different way, but still. You can borrow extra on your house in the Netherlands. You then increase your mortgage. The bank can give this extra sum of money to you when you have already repaid quite a bit, your salary has gone up or when there is surplus value on your house. All reasons why you could borrow more money from the bank. You can then use this money for a house on Karpathos, or anywhere else. πŸ˜‰

Elxis

If you got your mindset right and decided that you also want to buy a house on Karpathos or somewhere else in Greece, then it's time to start looking for a house (or maybe you already had one in mind!). Buying a house abroad can be quite overwhelming , because there is a lot involved. For those who do not feel like it or find it scary to arrange everything themselves, I would like to recommend Elxis 100%. Elxis is a Dutch real estate agency that mediates in houses in Greece. We bought our house on Karpathos with the help of Elxis and that went very well. They arrange and help you with everything. For example, you need a personal number, the purchase of a house in Greece goes through a lawyer and we still had to register our house in the Land Registry (that has recently become mandatory).

Yes! Hopefully I have been able to remove your stress, doubts and fear (a bit) ;). Do you dream of buying a house abroad? Just do it. Of course you have to do this with common sense, but above all dare to live and think: "What is the worst thing that can happen?" and is that the worst?

Kalimera! We are Athina & Vincent. A Dutch couple who have been living on Karpathos for a few years. On this blog we share our stories and the most beautiful places of the island with you!


Support ons!

We hope you like our free content and tips! We would love it if you would support our work. EfcharistΓ³!

The 1st e-book about Karpathos

Karpathos travel guide

Our digital guide contains 100 pages of all the information you need if you are planning a holiday to Karpathos. From practical information to the most beautiful beaches and tastiest restaurants!

Karpathos travel guide cover 2023 (2)

I'm sure you'll like this too!

Online shoppen als je op Karpathos woont

Online shoppen als je op Karpathos woont

In Nederland waren we het zo gewend. Even snel iets nodig? Bol.com. Kerstcadeautje nodig? Even googelen en je kon het zo online bestellen. Boeken kopen? Amazon.nl. En alles is binnen 1-4 dagen altijd wel in huis. Nu we op een eiland wonen gaat dat allemaal net even...

Can you just rent out your holiday home abroad?

Can you just rent out your holiday home abroad?

Many people with a holiday home abroad rent it out to others to generate extra income. But can you just rent out your holiday home abroad? I did some research and found an answer on the IRS website....

5x Why we wanted to buy a (second) house on Karpathos

5x Why we wanted to buy a (second) house on Karpathos

At the end of 2017 our dream came true! We made an offer on a house on Karpathos and at the beginning of 2018 the house was officially ours. Why did we want to buy a house on Karpathos so badly? In this blog you can read our reasons why we seized this opportunity with both hands! Since the beginning...

6 Comments

  1. Very interesting to read! Was also a little curious how you managed it πŸ˜‰

    Reply
    • Thank you! πŸ™‚

      Reply
  2. Nice to say! My parents also bought a house for over 20 years, just outside Volada. In Pini, there they have a vineyard.
    Good luck on Karpathos!
    Regards
    Patricia Pool

    Reply
    • Hi Patricia! How nice of you to send a message! I do recognize your last name πŸ˜‰ I once visited your parents as a little girl.

      Greetings!

      Reply
  3. Hey! Very nice site and blog! Soon I will make a tour on Karpathos and take your tips with me πŸ™‚

    I was curious what the average prices of houses in Karpathos are. Can you say something about that?

    Reply
    • Hi Eka!

      How nice that you go πŸ™‚ to Karpathos In terms of house prices, you can take into account a bit of 50,000 euros for a piece of land. Just take into account about 150,000 euros now.

      Greetings,
      Athens

      Reply

Submit a Comment

The email address will not be published. Vereiste velden zijn gemarkeerd met *

This site uses Akismet to reduce spam. See how your comment data is processed .