When it comes to finding a dream property, it soon seems like an impossible and unfeasible task, but it doesn't have to be. Because when you have advice and know what to do, you can find exactly what you want. In this article you will be able to understand what you need to do through these 10 Tips for Finding Your Dream Property
Find out here how to search for Properties in Portugal.
1- Investment objective
A holiday home and an apartment to live in are totally different goals. Firstly, it is important, before looking for property in Portugal, to know which type of property is ideal for you. Keep in mind if you intend to use your property to make a profit in the future, as this choice can ensure extra income for your retirement.
2- Property purchase budget
Once you know what you want with the property, it is essential to know what your investment budget is. Buying a property requires a certain investment, both financially and in terms of time consumption, so anticipating and planning is important. In this sense, the value of this investment will be a step that will allow you to discover what type of property you can buy. Additionally, research the costs associated with purchasing property, such as taxes and documents, etc. It is at this stage that you must apply for a housing loan.
3- Location of the property
Pay attention that buying property in Portugal is the purchase of land. So, this point is the only thing that you will not be able to change in a property. This is what causes similar properties to have discrepant costs in different regions of the same city. Just like your budget is crucial to defining the location of your future property. Still, if you are in doubt, research well where you want to invest.
It is important that you know the market, the areas close to the property and the residents' routine. Only when you start researching will you realize whether it is worth investing your money in that real estate market. Start by searching for related articles, not just real estate listings. This will help you understand the dynamics of the local market, especially if you are not familiar with it.
4- Review your priorities
What is important to you? When you know what you want, the search for property in Portugal becomes much easier, without wasting time on uninteresting properties. However, it is essential that you know what is most important to you in a property. This is what will guide you on what you must have in your property and what is not so necessary if you have difficulty finding something you like.
5- Size matters
At first, a mansion may be very tempting and become your first option, but the larger the property you choose, the greater the costs you will have to account for. For example, with maintenance, heating and the taxes that are associated.
When we compare the choice between homes with similar prices, where one of them has more square meters, it is common to think about choosing the larger one and, in most cases, this is a smart move.
However, as buying a house is one of the biggest financial expenses you will have, a large property can have a greater impact on your monthly budget and make your expenses more difficult. In any case, pay attention to whether the house already has furniture, as it tends to appear larger than it really is.
6- Count how many rooms you really need
First of all, think about how many rooms you need, especially if you are going to live with a family and have children. If you need extra rooms, the best option may be to invest in a T2. If you have two children, look for one T3, and so on. In other words, if you need to have an extra room, research and analyze which type of property is ideal for you and your family. Even more so if you are telecommuting or working from home, as it is important to separate your work environment from your leisure and comfort rooms. On the other hand, if this is not possible, you also have the option of adapting larger rooms, and taking advantage of this space to create your own work space.
7- Hire a real estate consultant
Before contacting all the property advertisers that seem interesting to you, research and hire a specialized consultant to help you with this task. It is preferable to hire a person who has enough experience to explain the details of how the property buying process works. It is also important that you understand your interests and be able to guide you in order to understand all the pros and cons of each property you visit. In other words, the greater the understanding, the better it will be to complete your property purchase project in Portugal.
8- Find out about the purchasing process
Furthermore, don't forget that each place has its own routines and public spaces. Each neighborhood or apartment has its own characteristics and it is important to find out if it suits your routine. For example, cultural patterns, market moments and other non-formal factors that can be crucial to the property buying process. Your real estate consultant will be essential at this stage.
9- Accept a low limit on visits
A professional consultant has the obligation to carry out extensive property research to know enough to provide a general overview of what is available within your criteria and objectives. But, in addition, at the same time, provide enough support so that the client does not get lost during visits. Since when you visit 15 properties, you can't remember what you liked or didn't like about each one of them and this greatly complicates the decision process. If you've already made ten visits and don't find what you like, either the property you're looking for doesn't exist or it doesn't fit into your budget.
10- Analyze the documentation
This tip is extremely important, as it will prevent future problems and understand what type of investment you are getting into, whether during the purchase process or during the years you live in the house. Pay attention to whether the property's documentation and taxes are up to date, especially in the case of used properties. That's why it's important to ask for help from a professional in the field, such as a lawyer or the real estate agent you hired. Once again, it will be an extra expense that, in addition to making things easier, will give you peace of mind during the purchase.
In short, these tips are extremely important for acquiring a successful apartment rental that is suitable for your daily life and that of your family members. If you still have doubts, click here 10 more Tips you should know to rent a property.
