1. A Cheap Property Isn't Always a
Bargain
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Don’t be seduced
into thinking a property is a bargain, just because it is cheap.
Usually there is a good reason for it’s low value, one, which could
cost you in the longer term. |
2. Location, Location, Location
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The old adage about location is true. Picking
the right location is as important as the property. Picking the
wrong one can be a nightmare. Think carefully about your
requirements and if an abandoned property in the middle of nowhere
seems remote on viewing, it will be even more so when living there. |
3. The Best Set Plans
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Unless you want to get embroiled in a lengthy
and costly planning application, avoid properties not connected to
mains electricity. Despite some estate agents claims connection is
just a telephone call away, this is not the case most of the time. |
4. Budget or Bust
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Be realistic with your purchase budget and the
cost of renovation. If your budget is tight over extending on a
property requiring a lot of renovation work mean compromising your
entire dream. |
5. Research Well
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Research well and
speak with others who have already purchased in Portugal. There is a
lot of information online devoted to Portugal with a variety of
people regularly posting information about buying and renovating.
Seek out their help and guidance, most are only too happy to help. |
6. Recycle
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Although you may be
renovating a property and will probably want to have a fresh, new
feel to the property, there will be many materials you will be able
to re-use. This will not only save you money, but will add character
and is advantageous to the environment. |
7. Advice and Expertise
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If you intend to get
a builder to carry out the work on the property once you have
purchased, get at least three quotes from registered builders and if
possible check out material prices at local builders' merchants to
ensure you know the cost personally. |
8. Professional Help
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Even though you may
be familiar with many of the trades - electrics, plumbing,
plastering - skimping on the finish of a property can cost you in
the long run. Badly fitted electrics and plumbing can be more
expensive to repair when they go wrong. Hiring in the experts
doesn't have to be costly in Portugal with these kinds of tradesmen
charging hourly rates from 8 Euros per hour. |
9. Knowledge
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By buying a property
in a foreign country you have already crossed the border into the
unknown, and although there may be many aspects of renovating a
property in Portugal which will be unfamiliar to you don't enter
into something which in your country of origin you would not.
Ignorance after all is no defence of the law in Britain and
therefore in no other EU country. Just because an agent, who is
trying to sell you a property, tells you black is white, it is no
reason to believe it. |
10. Instincts and Trust
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Intuition. Often
dismissed by many buyers as superstition, first impressions
or gut instincts should not be ignored. If you have reservations
about a property but don't know why then you are not truly connected
with the property.
Trust your own judgement and remember the property you are buying is
NOT for your agent to live, but you. Do not be pushed into a property deal and if
the agents says, 'they would like to buy it'. If they do say this, then let them
buy it and find a property which is right for you. |