Research Is Key
Before purchasing a piece of property in Portugal the first thing a person should do is research. The first thing to look at is all of the factors that pertain to the buyer. The buyer needs to ask themselves are they looking to live in permanently, live in on vacations or rent the property for income purposes. From there the buyer can branch off to determine the other factors involved before purchasing the house. Budget must be figured out in all scenarios and should be split into purchasing budget and a budget for money to be put into house requirements. Lastly the buyer needs to figure out what they need to have in the home they are looking to purchase.
Location, Location, Location
When looking to purchase a property it is very important to not only look at the house, but to also look at the surrounding community. After taking a thorough look at the interior and exterior of the prospective house, take a look at the surrounding houses. Look at how they are kept and how the neighborhood looks. Ask yourself do the houses look refreshed and are the lawns kept well. Also locate how many community buildings are in the area like libraries, parks, dog walks, schools and gyms. The next step is to go to local bars, restaurants and cafes and ask about the neighborhood.
Portugal Property Laws
It is always smart to check the property laws in a place before purchasing a home. Even if you are familiar with the area, it is always good to seek the professional help of a property lawyer. Even in Portugal there are lawyers that are familiar with both the Portuguese language and can speak yours. They should notify you of all legal responsibilities should you decide to purchase a property and all of the options available to you. They should also be able to walk you through the process of making an offer, haggling over price and what happens once an offer is accepted.
Know and Respect the Culture
It is always good to familiarize yourself with the culture and the rules of business in the community that you are planning to purchase a house in. Places may seem laid back to vacationing tourists but can be very bureaucratic when it comes to individuals looking to conduct business. It is also good to have a notary that speaks fluent Portuguese and speak your language. Purchasing property, contracts and notarizing documents comes hand in hand and it is essential to have someone who can translate word for word. The final thing to do is to budget for the currency change between Portuguese money and your currency.
Following these steps will allow the purchasing of a property in Portugal to run smoothly.
Image by O Palsson courtesy of CC license via flickr.