What should I look for my next property?
Price: first and foremost, you need a property that you can afford. There’s no sense in deciding that you must have four bedrooms when the most you could afford in your market is two. You don’t need to search for a swimming pool with sea views when your budjet is limited. Do a little bit of research around what the current property market looks like, and then think about the down payment size and your own current finances.
Location: the location of the property you go for is key to the property value or for attracting the right kind of tenants. Bear in mind the distance to the Chania International Airport, schools, supermarkets and shops, public transport links, and even a gas station, as being closer to these things is likely to raise your property’s appeal. If you want to buy and then let out to students, being nearby their university (Kounoupidiana, Akrotiri area) is important to consider.
Type of building: choosing between a small apartment and a house can significantly influence your preferences. Thnk very carefully before making a choice.
New/old build: new builds can be easier and less costly to maintain, and they might have a broader appeal than old builds. However, old builds often have more character and style – and they can sometimes be cheaper to buy.
Layout: different interior layouts will suit different people – for example, house shares generally benefit from large communal spaces as well as private space for your guests – if any. However, families might prefer homes with storage options and an open space for young children and close proximity to schools.
Outdoor space: having an outdoor area, whether it’s a terrace or a garden, can be a big plus for you as a property buyer, but if you’re targeting to buy a property and then start looking for tenants (students or young professionals) who might not have the time to maintain it, it could be a luxury too far.
Fittings and fixtures: to reduce unnecessary expenditures you should look for a property with the basics all up to code, such as kitchen, bathroom, elevator – otherwise this could mean a lot of spending before you can even get tenants in.
Maintenance: keep an eye out for already present damage to any property you view, as things like moisture, mould, leaks, or structural issues could result in more costs in the future – as well as possible legal action if you don’t carry out the required maintenance. ARENCOS can provide you dedicated services for such critical matters.
Resale value: thinking further ahead, you may decide that you want to sell your property for a profit. While no one can predict the property market and market trends, it may be something to keep in mind.
Eco-friendly: more and more people are looking for greener residential and commercial properties for sale in Chania – taking steps to ensure the property you purchase is eco-friendly, or at least has the potential to be.
Parking: It might not always be a priority, but a property with a parking, especially in the city center (Tzanakaki Street, Sfakion Street, Iroon Polutecheniou Street, Andrea Papanadreou, Nearhou Street etc).
Light: when you’re viewing properties, it can be useful to check a place out at different times of day, as this will tell you how it looks in different light. It might be bright and sunny in the morning or early afternoon, but if it starts to look a little gloomy once night falls it could downgrading your preferences and desires.