Laying your hands on the property for sale in Portugal can be a tedious task. Regardless of if it is your first time or nth time, this blog will reflect points in finding the ideal house that matches your lifestyle.
1) They say money isn't everything. But can you buy a house without money? So, ethical money is everything. Before purchasing a dream property in Portugal, make sure you have enough cash in your bank. Note that your budget should not cross 35%-40% of your monthly salary.
2) Have a glimpse at the modes of payment! There are three primary options to buy a Portugal house:
i) Pagamento a pronto: Paying the purchasing price of the property in go to the seller. If you choose this option, make the payment through a bank cheque.
ii) Mortgage loan: Get a mortgage loan from a Portuguese bank. Payment terms depend upon factors like your age. Portuguese banks can loan 80% of a house's sale price, while the remaining 20% a buyer has to pay from his side.
iii) Mortgage subrogation: In case the house has an outstanding mortgage from a former landlord, you can shift the debt in your name along with all the rights and responsibilities associated with the property. You can get a request from the bank entity through which the former landlord got the mortgage.
3) Think of the type of property you wish to live in! It could be a second-hand home, free/protected, in the proximity of the sea, or in the middle of town. Pick the property that matches your needs.
4) Next important thing is to choose the best real estate agent to get the best property deals in your hands. Europe Properties is a well-known property portal that helps foreigners buy their dream property in European countries. You can find the latest collection of properties in different European countries along with the treasure of information regarding buying property overseas.
5) Surely, there are real estate agents or property owners themselves who offer you a virtual tour of the property. Virtual tours can save time and money. But it would be better if you visit the property and see everything with your naked eyes. Why? Because someone has said that what you see is not true, and what is true you can't see, sometimes. Take pictures of everything and prepare notes too.
6) Put your signature on the deposit agreement as well as the title deed. Pay the transaction expenses and taxes. Don't forget to change the name on the important bills. At last, keep the documents in the secure almirah. You would need the documents again if you want to sell or rent the property. Good luck with your new home! Enjoy!
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