Buying Property In Portugal …for Beginners
When you first consider buying property abroad think about some of the key issues you might come up against. First, you’ll have to ask yourself a few key questions. We find these considerations work again and again to help define what you’re looking for: Knowing you want a property in Portugal is just the start. Sit down and analyse what it is that you want in detail, then put together a wish list for your property.
To help you keep all those loose ends on track, we’ve put together an overview of the buying process below. To start with, think about the ideal date that you’d like to get all moved in, then take this end date and work backwards to establish your monthly milestones. Lisbon. Think about the big picture of your move: what are the reasons you want to move? Which region do you want to buy in? What type of property would you prefer? Start to assemble your property buying team by getting in touch with the right property professionals you’ll need to get through the process. We can help you with this – so get in touch and ask for our help!
What are you after? Do you want a sprawling rural villa where you can host friends and family? Are you after an apartment in a city for a more cosmopolitan life? Or, do you want a coastal resort property you can easily access on the weekend? Also, consider whether you plan to let out your property, as you will probably need to choose an appealing rental hotspot.
Rather than searching for a property in Portugal, finding one you like, and then trying to work out how to afford it, you should set your budget and work within that. Don’t forget that you won’t get the ‘interbank rate’ that you see on currency exchange sites and the news, so you need to account for swapping currencies in your budget — allow for a percentage point or two above or below the standard rate.
Work out a budget for your move. Begin your detailed search — look at our property for sale in Portugal to get started. You should also think about how you will structure any purchase. You’ll be able to act quickly and decisively if you already have this in mind. Start speaking to your estate agent about properties you’re interested.
Get in touch with your solicitor and currency specialist again to confirm that your structure and deposit plans are in place. Research any matters that you need to take care of, such as legal, tax, or inheritance issues and speak to specialists to help you deal with them, if necessary.
Think about your ideal property within your budget range – what must it absolutely have? This will help to define exactly what features are required to help narrow your search. For instance: Does it need outdoor space? Would you like proximity to beach or do you prefer a pool? How many bedrooms or bathrooms do you need? Do you want a terrace or a garden? It can be quite cathartic to think about what you can’t stand! Decide what you really don’t want to know what to avoid when you move to Portugal.