Real estate

They Wished to Dwell in Greece Full Time. However What Would They Discover for $300,000?

After a two-year pandemic delay, the time had come for Nick Hados and his husband, Ken Cook dinner, to seek out an residence the place they might retire. The couple, who stay in Little Havana in Miami, had fallen in love with Athens, spending their holidays there in a tiny pied-à-terre they’d owned since 2016. However by early 2022, they needed one thing sufficiently big to stay in full time.

The suitable residence would even be their ticket to Greek residency. As Americans, they couldn’t transfer to a rustic within the European Union, which limits vacationer visas to 90 days. But when they spent 250,000 euros, or about $267,000, in money on Greek actual property, they’d qualify for a five-year renewable visa, generally known as the golden visa, so they might stay within the nation 12 months spherical. (Starting in Could, consumers should make investments €500,000 in some components of the nation, together with Athens, to qualify for the visa.)

“We love touring, and we wish to be someplace the place we are able to pop to Rome or London or wherever,” stated Mr. Cook dinner, 58, a retired company high quality director. “We stated, ‘OK, let’s do that.’”

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The couple had grown hooked up to Athens, a vibrant metropolis steeped in historical past, and one which felt family-centric, embracing everybody from the very younger to the very outdated. Wander down a slim, meandering avenue and also you’re as more likely to encounter a Byzantine church as you’re to move a household out to dinner at 10 p.m. or a pair dancing in a neighborhood park. The nation was significantly significant for Mr. Hados, 59, who’s of Greek descent and speaks the language.

“It’s simply chock filled with creativity right here. There’s a whole lot of younger individuals, a whole lot of vitality,” stated Mr. Hados, an architect. “In Miami, outdated individuals, they don’t exit, however right here, they exit. Folks of all ages are strolling round all hours of the day or evening.”

The couple additionally noticed Greece as a spot to retire affordably, with a decrease price of residing. As retired Greek residents, they might spend much less on taxes, meals, healthcare and different residing bills. The couple set their sights on Pangrati, a classy neighborhood in central Athens favored by artists and filled with eating places, cafes, parks and civic gems just like the Nationwide Gallery of Athens. The hilly neighborhood additionally provided streets with unbelievable metropolis views, and Mr. Hados needed an residence with a view of the Acropolis and the Parthenon.

“It’s like having a view of the Eiffel Tower,” he stated. “It’s Greece.”

However what’s a view with out room to take pleasure in it? So that they added outside area to their record of must-haves. No matter residence they selected needed to be inside strolling distance of the town’s historic websites. And it needed to price a minimum of €250,000 to guarantee them a golden visa.

In Athens, in contrast to in the US, actual property brokers wouldn’t have unique listings, and lots of houses are offered by the homeowners. So the couple didn’t work with an actual property agent. As a substitute, they scoured numerous actual property itemizing websites.

In January 2022, they offered a industrial property in Miami, securing the funds to pay for an residence. With the cash in hand and their choices narrowed to a couple finalists they discovered on-line, Mr. Hados flew to Greece in February looking for their preferrred dwelling.

Amongst their choices:

Discover out what occurred subsequent by answering these two questions:

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