When we are speaking about buying a property in Portugal, we are speaking about our dream which took a long time before being finally realized, but we are speaking also about various dream features in the property which probably could be useless or which at least costs a lot of money or a lot of time in the maintenance.

Of course a basement waterfall and grotto is a practical and useful addition to any home, that is pretty much the only thing standing between you and the playboy lifestyle you have always dreamed about, right, but who is going to clean it?

It is easy to fall in love with certain features of a property, but to find out that those same features, in the long run, are your least favourite, here are a few common extras and a quick assessment of their relative values.

In-floor Heating

Also referred to as radiant heat, in-floor heating is a brand new invention. Well, except that the Romans did it a couple thousand years ago by channelling hot air under the floors of their homes and Frank Lloyd Wright did it in the thirties with hot water, but other than that.

What are the positive points: In-floor heat comes in two primary forms, as hot water heat or electric heat, and there are many advantages.

The dramatic energy savings promised should not prompt you to ask for a decrease in salary just yet, since the more popular hot water radiant heat usually requires a second hot water heater and will not shave too much off of your bill, but there are some notably appealing elements to in-floor heat in general.

Radiant heat is just that, even and consistent, without the up-and-down temperature shifts associated with most conventional heating systems. It is also silent and invisible, with no bulky radiators or even register vents ruining the feng of your shui. Radiant heat also will not dry the air, and will not have you hopping about looking for your slippers on a cold morning.

What are the points against it: In-floor heating systems are still considered a luxury, and can add a fair bit to the value of a home. They are new, and potential long-term issues have not been entirely worked out. A handful of people also are leery about the prospect of piping a significant amount of water throughout their cherished home for fear of potential leakage, all relatively minor concerns.

Assessment: Find someone with in-floor heating who does not love it. I dare you.

Backyard Pool

It is the quintessential luxury item that announces once and for all that you are a big dog, even in parts of the country like this one where it can only be used about ten minutes per year, it is the swimming pool.

From pools that are little more than big pits of standing water to jewel-encrusted infinity pools that usually adjoin large bodies of water, pools were once the thing, are they still?

What are the positive points: A recent study found that having a pool increased property values from 8 to 15 percent. The idea of kicking back all summer with a pina colada, sitting next to the lapping water with friends can be quite attractive and rightfully so.

What are the points against it: Safety issues have not been blown out of proportion by the media. Pool deaths happen all the time, there is no getting around that fact. Pools are expensive to maintain, even without hiring a pool cleaner, and are a lot of work, as beautiful as a pool can be when it is maintained properly, it can be an eyesore if it is not. A pool tends to negate having any significant usable space for a backyard, am I missing anything?

Assessment: The issues involved with owning a pool can be overcome, and many people enjoy having a pool very much. You just have to want one really badly for it to be worthwhile.

Dream Kitchen

Kitchens do cool things these days. Appliances panelled to look like cabinets, an extra tap above the stove for filling large pots of water and 460 different countertop materials.

What are the positive points: Kitchens are finally being designed with maximum utility in mind. When shopping for a home, focus on the kitchen, it is where you will likely spend a great deal of your time, and the room in which every party tends to congregate.

Before you fall in love with that Kohler faucet, however, analyze the kitchens layout from a purely utilitarian standpoint. Is the magic triangle of sink-stove-fridge arranged conveniently, are cabinets and other storage in logical places, is there sufficient light and most importantly, is this a space you will feel comfortable and happy in? Do not underestimate the importance of a functional and attractive kitchen.

What are the points against it: You have to be careful not to fall in love with the impermanent fixtures in a kitchen. While those glass-front, backlit uppers may brilliantly display the sellers Royal Daulton bone china, will your mixed collection of garage sale Melmac have the same effect? Likewise, if your idea of cooking is heating up last nights pizza, perhaps space would be better used elsewhere.

Assessment: The kitchen is the hub of virtually any home. Do not underestimate its importance.

Activity Rooms

This is an overly broad categorization, of course, but activity rooms like workshops, games rooms, and exercise rooms tend to hold common appeal and common drawbacks.

What are the positive points: Having the right setup for a particular activity can be inspiring. Having a single power tool in each room of your house and each corner of the garage and shed is not exactly the ideal situation for building that crib you started on for your daughter and are determined to finish before the birth of you granddaughter. Likewise, if you have the latest elliptical trainer and weight set in a room next to your bedroom with a 12 foot plasma TV facing it, perhaps you will find that six-pack after all.

What are the points against it: If you can not make a dovetail joint, all of the tools in the world will not give you that knowledge. If you have not lifted anything heavier than a handful of pork rinds in the last decade, a workout room will likely soon become just a TV room with uncomfortable seating. Unreasonable expectations usually develop into unreasonable decisions.

Assessment: Your home should inspire you and will, to a certain extent, dictate your lifestyle. You have to be rational in your decisions, however, and aim for versatility rather than rooms that are locked in to a particular use that may not be as useful in the future.

The Bottom Line

With all of your dream home features, try to let reason prevail (or at least get a word in edgewise). You may absolutely worship the tumbled marble rainforest shower with the heated towel rack, but it will be of little comfort every morning and night when you are cursing the homes lack of closet space. It is often the most boring attributes of a home that will give you the most pleasure.

Now, off to luxuriate in my rainforest shower. I had to take out the bedroom to install it, but that is okay, I do not mind sleeping in the kitchen.

Overseas buyers considering Portugal as the place to buy a dream home in the sun, will have thought of the Algarve in Portugal. The most recognised area in Portugal it is known mostly for its popular beaches, golf courses and nightlife.

Central Algarve is without doubt the most heavily visited of all the parts of this region. It is sandwiched between the two largest cities in the region, Faro on the eastern edge and Portimao on the western edge, and has kilometers of beaches and lots of activities to keep visitors and residents alike busy.

The climate is gorgeous in the Central Algarve for just about the whole year. Summer is hot, spring and autumn are moderate and the area is great for doing outdoor activities for at any time of the year. The winter is cool and wet, but even that time of the year is a nice change from much of northern Europe.

The Central Algarve stretches from just west of Faro to just east of Portimao, near Lagoa. The area is about 50 kilometers wide, so everything is within an easy drive no matter where you are, and the rest of the Algarve is easy to reach as well. This section of the Algarve is known for its resorts, and the towns of Albufeira, Sesmarias, Valamoura and Quarteira are a few of the more popular seaside resorts. This area also has plenty of golf destinations. Loule and Lagoa are popular towns with plenty of places to stay.

Albufeira is the major resort and tourist destination in the whole Algarve. The year round population of 35,000 increases exponentially in the summer. There are a number of golf courses and resorts around the town and the resort of Vilamoura, just to the east of Albufeira, is known as the golf capital of the Algarve. Albufeira makes a superb central Algarve base for family golf and recreation holidays. The diverse choice of golf courses near Albufeira coincides with a number of great family holiday attractions, particularly beaches. Quinta do Lago near Quarteira, just to the east of Vilamoura, is recognized as one of Europe’s best golf holiday resorts. There are four luxurious 18 hole golf courses are in the area, and two of these are listed in Europe’s top 25 golf courses.

For nightlife, Albufeira is the best place to have some fun. The Strip near the Montechoro section of town is very popular, particularly with younger crowds. There are lots of great bars and clubs along this stretch. Vilamoura also has a casino and some popular nightclubs as well.

Loule is one of the larger urban areas in the whole Algarve and is a good place to find housing. Whether to buy, rent or just a quick visit, this town has lots to offer for reasonable prices on up to luxury accommodations. There are also some new golf resorts around the town that have become popular. Lagoa, on the western end of Central Algarve, is a historic old town with lots to see and plenty of places to buy or rent.

Property in the Central Algarve, as in most of the entire region, is focused along the coastal areas. There are any number of new developments and resorts, and you can find a wide variety of housing and property for sale. Golf is most popular in this part of the Algarve, so if you want to find a golf resort or development this is a great place to look. Property around Lagoa in the western end of this area is quite popular, and you can find some of the nicest and most exclusive places around this town.Be sure to compare like for like when buying property in Portugal.

Albufeira is a popular seaside town with lots of local properties and several resorts as well. Several other seaside areas include Quarteira, Sesmarieas and Carvoeiro. Inland just a bit are the towns of Loule and Almancil, both of which are near Faro and very convenient to get to from the airport. Prices for housing in this region can be reasonable for smaller apartments, and can reach in the millions of euros for large villas with great views.

To get to the Central Algarve, the fastest and least expensive route is to fly into Faro Airport (FAO). This airport is located 7 kilometers west of the city of Faro in the southeast part of the Algarve, right on the border with the Central Algarve. It is one of the most popular airports for discount carriers, offering quick and reasonably priced service to most major European and UK cities.

Just a few of the airlines that fly to Faro include Aer Lingus, British Airways, Atlantic Airways, easyJet, Flybe, Jet2.com, Ryanair and Thomsonfly. It is possible to fly from almost any major airport in the UK direct to Faro. There are many more flights during the warmer parts of the year, but this airport is becoming popular for business travelers so it has a good number of flights that operate year round.

Portugal is a great place to live and work. Any property you buy will sure to be a good investment. Since 200 the property market has steadily grown at around 10-15% annually. With properties of such a high standard and with its economy the way it is it is not hard to see why people are moving to Portugal.

Portugal is a country with a rich seafaring history and is located on the west coast of the Iberian Peninsula west of Spain. In the summer you can expect beautiful hot sunny days inland and on the coastal areas slightly cooler. Along the Algarve the coast is sheltered from north winds and has the higher summer temperatures. The Portuguese winters are very mild and pleasant without the hot weather.

The biggest appeal of buying a property in Portugal is the benign tax system which allows avoidance of the worst effects of capital gains and inheritance tax. Also the annual rate of unemployment is very low which is encouraging.

Despite the fact that Portugal is one of the smallest and least developed countries in European terms it has the fastest developing economies in the EU. One of the main reasons is because of the easy access to 360 million neighbours and the fact that the work force is young with labour costs considerably lower than those of the rest of the EU countries. The country was also given 22.8 billion Euros from the EU and part of these funds went into developing the transport system which included privatisation of the airline, building a light train track, as well as developing an airport at Porto. In 2004 the country hosted the European Football championships which brought in plenty of revenue at the time. With regards to natural resources Portugal has huge deposits of timber cork, iron, copper coal and marble.

One of the top choices regarding which city to move to is the Silver Coast. It is an up and coming area with many Brits selling up in the Algarve and moving up to the Oeste Region which is located just about Lisbon. The Algarve used to the hot spot to live but now it is over run with Brits. The attraction to The Silver Coast area is partly because it is a very Portuguese area with farming being the main source of income for the locals. You can really experience the Portuguese way of life. Because the properties are much cheaper than in the Algarve area it’s it worth investing in. The potential of significant property prises in the area is attracting people wanting to buy and live in the area as well as buying to let a holiday home. The Silver Coast stretches from Porto down to Lisbon and has some of the most spectacular beaches, amazing cliffs, beautiful country side and some great historical sites.

Moving to Portugal is always better if you’re planning on learning the language. The locals will respect you a lot more if you can show you are trying to fit into their society. It’s the same with moving to any foreign country. Apart from making every day life a lot simpler it also means you will be able to speak to the locals and really interact and get into the Portuguese way of life.

Searching for a dream property in Portugal is an emotional experience, it is however, also a business transaction and must be treated as such.

Three of the most devastating things that can go wrong are:

Paying too much

Loosing a dream home to another buyer

Buying the wrong home

When you have a systematic plan before you search your dream property, you will be sure to avoid these costly errors. Here are some tips on making the most of your home purchase:

Get the information you need

What price do you offer a seller? Is the sellers asking price too high? Is it a deal? Your own research is important, as is the assistance of a Portuguese Government licensed Real Estate Agent.

A professional Real Estate Agent can offer an unbiased opinion on the value of a home, based on many factors and a great deal of information. Without knowledge of the market, your offer could be too much. Or worse, you could miss out on a great buying opportunity. Hire the right person and trust that person to represent your interests.

Buy your home

What do you need and want in a home? Sounds simple, but clearly identifying your needs and bringing an objective view to home shopping leaves you in a much better position. How much space do you really need? Too small and you may feel like you live in constant clutter. Too big and maintenance may become too daunting. Outline all of your priorities, and work on finding not just a great home, but a great home for you.

Check the title

Before you sign any document, be sure the property you are considering is free of all encumbrances. As a part of his or her services, a Real Estate Agent can supply you with the necessary solicitor or lawyer to ensure there are no liens, debts, undisclosed owners, leases or easements against the title.

Update the survey

Before the purchase is completed, an updated survey is essential. This report will indicate boundaries and structural changes (additions to the house, a new swimming pool, neighbours new fence which is extending a boundary line etc.), and will guarantee that you are indeed getting what you pay for.

Minimize the unexpected

For approximately 500 Euros, a professional inspector will conduct a thorough inspection of the home. Their expertise can mean the difference between uncovering major flaws before or after you own a home. Make the final contract subject to the reports findings.

Get pre-approved

It only takes a few days to get financing pre-approval. When you are shopping for a home, this gives you more power. A seller is more likely to consider an offer from a serious buyer.

Remember additional costs

Besides the funds for the purchase of a home, you will need funds for items such as loan fees, insurance, legal fees, surveys, inspections etc.

Take a deep breath

Before you sign, ensure that all documentation clearly reflects your understanding and conditions of the transaction. Has anything been forgotten? Do not rush. You could loose money, financing, or even the sale if you attempt to push things through too hastily.

I wish you a smooth property purchase in Portugal.

With extremely high property prices in different countries of Europe, many people are starting to think about purchasing a home in Portugal of their own. While simple rental cost vs. mortgage cost comparisons can be very attractive, buying a home is a serious commitment, and there are many factors to consider:

How long you plan to live or maintain the overseas property.

Selling a home costs money and if you potentially may have to sell in the very short term, the value of your home may not have appreciated enough to cover the costs of buying and selling.

The length of time that it will take to cover those costs depends on various economic factors. Average appreciation in Portugal tends to sit at around 10 percent per year. In this case, you should plan to stay with your home at least 2-3 years to cover buying and selling costs.

How long the home will meet your needs

What features do you require in a home to satisfy your lifestyle now? Five years from now? People tend to remain with their homes longer than they initially intend, primarily due to the work and expense associated with moving. Therefore it is worth considering a home with room to grow. Could the basement be turned into a den and extra bedrooms? Could the attic be turned into a master suite? Having an idea of what you will need will help you find a home that will satisfy you for years to come.

Your financial health – your credit and home affordability.

Is now the right time financially for you to buy a home? Would you rate your financial picture as healthy? Is your credit good?

Some say that you should refrain from borrowing as much as you qualify for because it is wiser not to stretch your financial boundaries. The other school of thought says you should stretch to buy as much home as you can afford, because with regular pay raises and increased earning potential, the big payment today will seem like less of a payment tomorrow. It is, however, important to stay within your comfort zone.

Purchasing a house involves many up-front and ongoing costs, and the stress of worrying about those costs often outweighs the satisfaction that may come from owning a slightly nicer home.

To determine how much home you can afford, talk to a bank or go online and use a home affordability calculator. Good calculators will give you a range of what you may qualify for. While some may say that the 28/36 rule applies, in today’s home mortgage market, banks are making loans customized to a particular person’s situation.

The 28/36 rule means that your monthly housing costs can not exceed 28 percent of your income and your total debt load can not exceed 36 percent of your total monthly income. Depending on your assets, credit history, job potential, and other factors, lenders can push the ratios up to 50-70 percent or higher. While we’re not advocating you purchase a home utilizing the higher ratios, it is important for you to know your options.

Where the money for the transaction will come from.

Typically, homebuyers will need some money for a down payment and closing costs. However, with todays broad range of loan options, having a lot of money saved for a down payment is not always necessary – if you can prove that you are a good financial risk for a lender. If your credit isn’t stellar but you have managed to save 25 percent for a total down payment, you will still appear to be a very good financial risk to a bank.

The ongoing costs of home ownership.

Maintenance, improvements, taxes, and insurance are all costs that are added to a monthly house payment. If you buy a condominium or townhouse, a monthly homeowners association or maintenance fee will be required. If these additional costs are a concern, you can make choices to lower or avoid these fees. Be sure to make your Real Estate Agent and your bank aware of your desire to limit these costs.

If you are still unsure if you should buy a home after making these considerations, you may want to consult with an accountant or financial planner to help you assess how a home purchase fits into your overall financial goals.

As a final note and in a general way we can say that the property investment in Portugal is always an excellent short, medium and long term investment.

Officially known as the Portuguese Republic, Portugal is situated along the peninsula of Iberia. It is found in the southwestern part of Europe. Compared to the other countries within the continent, Portugal is among the warmest. The country has a Mediterranean climate and the temperature of the coastal areas can reach 40?C during the summer.  Summer and spring in the country are generally sunny and warm, while the autumn and winter can be windy and rainy.

 

Because of the wonderful weather along the coasts of Portugal, especially during summers, its waterfront properties are highly sought after. Property by the beach is in high demand. Both buyers and investors seek real estate in the country because of the obvious benefits the country provides. The main advantage of a coastal property is its warm climate all-year round.

 

If you opt for a renovated property, you should be able to buy at an affordable price. If you are buying waterfront real estate for investment purposes, you are guaranteed good profits because of the high demand for those coastal properties.

 

Property sales in Central Portugal have been good for several years. As with other countries worldwide, buyers have to follow specific steps during the process of buying real estate. The first thing you need to do is to execute the preliminary sale contract which is drawn up by a notary. This agreement legally sets the conditions for the sale. During the execution and signing of the binding contract, the property buyer is called to settle the transacted deposit. This means that you have to have a deposit amount before the preliminary contract is prepared for signing.

 

Central Portugal property sales usually require a deposit amount of between 10 and 12 percent of the total purchase price. When the seller of the Portuguese  property decides to stop the sales process, the deposit paid will be forfeited. There are instances however where the buyer is entitled to stop the signing of the contract and not forego the return of his deposit. This is true especially if the property seller is not able to provide a clear and free title to the buyer. If this is the case, the purchaser has the right to cancel the contract. If he or she has already settled the payment of the deposit, he or she can get it back.

 

If you want to buy a property in Portugal, you are required to acquire a “Fiscal Number” from the local tax office. This is a requirement for foreign as well as local buyers. The application for a Fiscal Number during property sales in Central Portugal is fairly simple. You do not have to go through much hassle. All you have to do is fill out a form and submit it to the tax office.

 

Three or four weeks after the execution of the initial contract, the deed and the final contract are signed. This is when legal possession of the Portuguese property is transferred to the buyer. The last step for property sales in Central Portugal is settlement of the tax which is imposed on the transaction. The buyer should also register the deed within the Office of Land Registry.

Portugal Real Estate is at premium currently especially in the Alentejo region between Lisbon and the Algarve. Peace and quiet seekers worldwide discover this new tourism area.

Trendy magazines write about it in their holiday specials and also more and more articles are written about people who bought a second house in this area. Many of them consider Portugal as their second home. This is not strange; if you have a look at the Portuguese and their warm hospitality, they will make you feel at home in every way they can. The number of people who move to Portugal permanently is growing each year. This area between Lisbon and the Algarve is a good one to invest in.

The rich cultural heritage of Portugal and in this area in specific makes it even more interesting to invest in property here. There is more to offer than just the seaside and beautiful scenery. Places as Evora, (on Unesco world heritage list) and Beja are worthwhile a visit to discover their ancient history. Places as Setubal, Sesimbra and Sines are old fishermans villages with all its charmes and of course good places to eat fresh fish. Almograve and Vila Nova de Milfontes are the best-known beach villages of this area, but there are many more lovely beaches and trendy beach bars/ restaurants that serve good food.

More inland you will find the wine quintas, a visit there and of course some wine tasting is a lovely introduction in the world of Portuguese wines. Many of them are prize-winning wines, Esperao being one of the most famous ones. Portugal has many wonderful Pousadas, hotels partially owned by the State, located in old castles, monasteries and other historical places.

Discovering this part of Portugal you might stay in one of these luxurious hotels or choose from the cheaper ones. There are plenty. Of course you will find hotels or B&Bs owned by foreigners who started a new life in Portugal and with that life a new business. This number is still increasing and welcomed by the Portuguese.

There are many reasons to invest in properties here; one of them is of course the price difference with the rest of Europe. Whether you are looking just for land, a villa, an apartment near the sea or a house in the countryside for sale, we can find what you are looking for and guide you all the way.

Alentejo Home is known for its level of care and attention to detail and their knowledge of the property market. Their relationship with local real estate agents in the Alentejo is perfect. Alentejo Home has the best properties. If you are looking for land for sale, villas, houses, apartments or a quinta, Alentejo Home can guide you all the way.
If you are looking to buy or sell property in Portugal then Alentejo Home is at your service.

The overseas property market is changing rapidly – any glance at the newspapers in the UK will tell you that conditions are far from easy for buyers and builders alike. In order to survive, the industry will have to adapt and make sure that it is reaching the new parts of the market to attract the customers it needs.

The same goes for overseas property agents and developers, and given the recent scandals and hard times experienced on the Iberian peninsular, it could be surprising to find that Portugal is looking ahead to the future with optimism. In fact, given the style and status of some of the new developments that are being promoted, Portugal’s property market gives the impression of being a country on the up.

The recent release of the Palacio da Quinta resort (labeled a “six-star resort, and scheduled to be fully open in 2010) and spa on the Algarve is a perfect example of the confidence Portugal has to continue attracting new blood into the market while still playing to its strengths. For one thing, this is a hotel and apartment development on the Algarve that isn’t part of a golf course – in fact, none of the apartments overlooks a fairway or green at all. While this is something of a departure for the region, golf lovers will find there is plenty to keep them occupied, as the site sits adjacent to one the more famous courses in this part of the world – Quinta do Lago.

Similarly, buyers of the 79 apartments that will go along with the hotel will have some of the most luxurious facilities available on the Algarve. Each apartment has a private terrace Jacuzzi to compliment the marble flooring and high-end fitted kitchens and bathrooms. Each apartment also comes with two underground car parking spaces, but if you don’t have your own car in the Algarve, there are a couple of services offered by the 24 hour concierge that could help you out. There is a chauffeur service attached to the hotel, and should you wish to arrive in even more style, private jet and yacht charters can be arranged.

Even though the one-bedroom apartments start from £800,000, most potential property buyers will be likely to take up the finance options that have been organised through the developers to allow borrowing of up to 80 per cent of the apartments’ value. While the traditional markets for property in Portugal have been for larger, spacious projects on golf courses or within sight of the rolling Atlantic, the movement of buyers throughout the rest of the country to find the best deals has introduced a different type of development into the market.

In Central Portugal, an hour away from Porto, is the seven-hundred year old medieval village of Póvoa Dão. This hilltop settlement, which has traces of Roman occupation and confirmed Roman pathway running through it is being restored along the lines of the original buildings and offered for sale as 45 authentic cottages built from local materials. This is the first time such a village has been restored in this way, and it is important to note that this is a restoration project, and not a new development. Such is the commitment to preservation of the original village that the two remaining inhabitants of the old village have been embraced by the developers, and are now an integral part of the success of the project. Mr. Soares and Mrs.Mercinda have had their rustic cottage completely renovated by the Catarino Group to introduce modern facilities for the first time, and are now employed tending the 120-acre farm surrounding the village on behalf of the developer. The farm grows the organic vegetables used in the village restaurant.

Prices for the cottages start at a very reasonable €165,000 (£132,000), which should attract a different kind of overseas property buyer to the region, while at the same time creating a development that should have a life and a real atmosphere throughout the year.

In a market where adapting to conditions is likely to be the key to prospering into 2009, the property market in Portugal seems well-placed for the future.

The current economic climate may have many of you thinking your dream of owning a property in Portugal is slipping further from your grasp. But there is a way, even in these difficult times to achieve your Portuguese property dream without breaking your bank balance.

Renovating, restoring and modernising a run down property is a route more and more people are following, which can be financially beneficial.

Your ideal property may feature a stunning kitchen, modern bathrooms and a swimming pool, but purchasing a house completely ready to move into and enjoy, means you will have to pay full market value to a private individual or builder.

 

However by buying a property requiring modernisation and restoration work, which has potential, can save you money. Allowing you to add value with each stage of works. In most cases once finished renovation projects will have cost less than purchasing a property already completed.

Ruins & Restoration

Rural Cottages

Character Property

Historic Manors

The financial advantages of renovating and restoring are immediate as these types of properties often cost a great deal less to buy with reduced purchase price, costs and taxes. By spreading the cost of the repair work over a longer period of time can also be less taxing on your bank account. And by carrying out some of the work yourself, savings on labour costs can be made.

 

Renovating and restoring a property is not for the faint hearted though as there are many pitfalls to be avoided to create your dream property. Especially so in a foreign country where there are added complications of language barriers and different rules and regulations. But it is possible and with the minimum amount of stress.

 

By choosing to renovate a property you give yourself plenty of choice. Portugal is a country blessed with a wide range of properties many in varying states of disrepair, to suit all tastes from rustic cottages through to baronial mansions. Look at any estate agency website and you may be surprised at the amount available for sale from as little as 20,000€.

 

However the key to a successful renovation and restoration project is selecting the right property. Simply purchasing the cheapest property available is not always the most financially sensible thing to do.

 

Generally restoration property falls into two categories, those requiring full planning permission and those that don’t need permission but can be restored immediately as a DIY project.

 

“Although there are many ruined properties available in Portugal, most at really attractive prices” says Derek Harper of Chavetejo Estate Agents in Tomar. “Buying one in very bad condition without public utilities connected doesn’t always make financial sense in the long run. Getting mains water and electricity connected isn’t as simple as making a phone call and in most cases can mean a lengthy and costly planning application, delaying the start of renovation works by months and sometimes years.”

 

Choosing a property in a slightly better condition with utilities already connected can save you thousands in the longer term and mean renovation work can begin as soon as you have decided on the finished design.

 

Avoiding properties requiring planning permission also means you can save money on the renovation work, carrying out some of the less skilled jobs yourselves. However even if you choose to bring in the professionals it doesn’t have to cost the earth.

 

Deciding to employ a builder in Portugal doesn’t have to be financially painful. There is a wealth of skilled tradesmen available and despite the fall in the exchange rate, they charge a fraction of the cost of their UK counterparts. Reputable builders can charge as little as 10€ an hour with labourers earning around 8€ an hour.

 

Generally the quality of workmanship in Portugal is very high, but it is important if you do decide to employ outside help, to get at least three quotes from reputable builders as well as references from previous clients. Being able to inspect jobs they have carried out will also give you peace of mind on the quality of your finish.

 

Getting your lawyer to draw up a contract with the builder you decide to use is not only a good idea, but will put paid to any demands for extra money and allow a clear method of stage payments for the each section of the work as it is carried out.

 

Checking out local builders merchants and DIY supermarkets is a good way of ensuring you are not being over charged for goods by builders and it will help you decide on the finished specifications of your property.

 

Remembering not to get carried away on the renovation work is also imperative. Taking into account the possible resale value of the property, thinking carefully about what you want to achieve during your design period will help you budget accordingly. Common mistakes made during some property renovations are adding expensive features, which don’t necessary add value to the property.

 

If you are not going to be present in Portugal for the duration of the renovation work, but hundreds of miles away in the United Kingdom it is worth investing a little of your budget employing a project manager.

 

Although it may not be a cost you initially think about, it is well worth spending a little extra on a project manager who can oversee the job on a day-to-day or week-to-week basis, reporting back to you frequently to ensure works are carried out on time and to your specification. In the long run this can save you undue heartache and sleepless nights.

 

So if you want a home in Portugal and are willing to tackle a renovation project, now is the time to do it. Property prices in Portugal may be stable, but owners are keenly aware of the world wide economic climate and room for negotiation even on cheaper properties is more likely and you could bag your self a bargain, which you and your family can enjoy designing and renovating.

 

For more info on portugal

www.gekkoportugal.com

www.chavetejo.com

 

Tags: Portugal, Property, Renovating, Restoring
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