Re: Help needed - buying property
There are a few things about the Hungarian property market that I think it is worth saying some of which is mentioned in Pollypaprika's post - 6 Things You Should Know Before Buying in Rural Hungary. | The Daily Hungary,
The Hungarian property market, unlike the UK, is in a position of over supply, due to IMO years of falling population and bias in the financial market. It is not unusual to have houses on the market for 10 years or more. My son has just bought his first house in a village, walking distance to Lake Velence, 15 mins commute from Székesfehérvár, a regional centre city, The house he bought had been empty for 10 years, most of the houses he viewed were empty.
Houses here should be bought to live in, not as an investment. Reselling can take years and money spent on renovation may not come back.
Unlike the UK house plots for new build are easy to to buy, but again unlike the UK it will be much cheaper to buy a second hand house than build new for your self.
Hungarian estate agents are not constrained by the consumer protection laws that abound in the UK so it is very much a case of 'buyer beware'. It doesn't matter how helpful the estate agent appears never forget they are first working for their profit line, then second the seller and the buyer is the cash cow!
Depending upon the area many older houses will be built of adobe type mud brick. Personally I would not recommend such a build to anyone who does not know how to manage this type of construction. Incorrect renovation / repairs can spell disaster for this build and you can not rely on the 'local builder' to do thing properly if the owner is not there to stop concrete or other unsuitable materials being used.
Always compare prices between agents and in local papers. You can also find houses by driving around your chosen area looking for home made 'elado' (for sale) signs hung on fences or gates. Estate agents don't typically put 'for sale' signs as in the UK.
Choose your area, then spend lots of time looking. IMO a 2 week holiday is nowhere near long enough to find the right place. - and have a Hungarian speaker with you, who will preferably make the first contact and establish the price.
Last edited by BEVS; May 27th 2015 at 11:21 pm.
Reason: to remove quote from the original post as this is to create a new helpful thread
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