Should I buy or rent a home in Rethymno?

If you have not spent a lot of time in Rethymno, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...

"The decision to buy or rent a home in Rethymno, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Rethymno for a long period, buying a home could be a good investment. Owning a property allows you to build equity over time and could provide you with a sense of stability and permanence. On the other hand, if you're not sure about your long-term plans or if your job requires you to move frequently, renting might be a better option. Renting offers more flexibility as you can move without the hassle of selling a property. It also allows you to avoid the responsibilities and costs that come with home ownership, such as maintenance, repairs, and property taxes. Financially, buying a home requires a significant upfront cost, including a down payment, closing costs, and potential renovation expenses. If you don't have enough savings or if you prefer to invest your money elsewhere, renting might be more suitable for you. However, the rental market in Rethymno is quite active, especially during the tourist season, which could lead to higher rental prices. In contrast, the cost of buying property in Rethymno is relatively lower compared to other parts of Greece, which could make buying a more attractive option. In conclusion, whether to buy or rent a home in Rethymno, Greece, depends on your personal and financial circumstances. It's important to weigh the pros and cons of both options and consider seeking advice from a real estate professional or financial advisor," commented one expat who made the move to Rethymno, Greece.

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