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BUYERS`GUIDE

BUYERS`GUIDE
While every financially significant investment poses risks, the 2015 portuguese real estate market offers more opportunities than ever before.         
Whether you are a first-time homebuyer contemplating the purchase of your first home, you are looking for a Golden Visa to enter in the Schengen Area or you want to benefit with the new Portuguese Pension tax exemption, it’s important to educate yourself on the latest economic and real estate market trends, the basics of the home buying process and to understand the unique local market trends impacting your neighbourhoods of interest. 
 

Before you start looking for a property, it's worth asking yourself a few basic questions, which should save you time and money in the long run:

Do you prefer the town or country?

Do you want to be inland or on the coast?

Do you want to be isolated or in the thick of it? (Most people prefer to be within about an hour's travel time of a town.)

How much outside space do you want?

How close do you want to be to your neighbours?

How close do you want to be to shops, bars and restaurants?

Where's the nearest public transport, how often does it run, what time does it end?

How far is the beach?

How close are you to the nearest airport?

How far is it to sports facilities, golf, tennis, swimming, and so on?

How good are the local health and social services?

Arts and entertainment - what's available in the area?

Neighbours - what are they like and how often do you want to see them?

 

PROFESSIONAL ADVICE

Use qualified professionals to protect your interests and make the purchase of your new home a stress-free experience. Estate agents are a good source of advice. Only negotiate with those who are officially registered and hold a license. Ensure you have a good lawyer with an excellent command of French or English and the native tongue, to deal with the endless stream of rules and regulations. 

 

COSTS

Research all legal issues and costs involved. Your solicitor/lawyer will advise and assist you. Before you have decided on a property it's important to be fully aware of the legal process and costs involved in your purchase. Obtain professional advice and check your finances, taking account of these additional costs. Be well prepared with your finances; taxes can be high when buying. Set up a direct debit from a native bank account to pay for bills. Be careful not to miss payments and read those red letters; foreign banks are not lenient with those who don't pay up in time. If you're considering renting out the property when it's empty, bear in mind that advertising in the UK for a property abroad could result in tax demands from both the English and foreign authorities.
 

MAKING AN OFFER

Make your offer in writing, if possible (of course, subject to contract), and include not only the price, but also the amount of deposit, when you're prepared to pay it, when you're prepared to complete, what you understand to be included in the price and, an often neglected point, that all machinery equipment and installations are in normal working order