Buying a house in Portugal is a dream for many, whether to live, invest or enjoy holidays. The process can be complex, but with planning and the right information, it becomes easier. This comprehensive guide will help you every step of the way, from defining your budget and goals to the final deed.
Step 1: Define your budget and goals:
- How much can you pay? Take into account the price of the house, taxes, purchase and maintenance costs.
- What are you looking for? Home type, location, size, features and amenities.
- What are you going to use the house for? Own housing, rental or holidays.
Step 2: Research the market:
- Online platforms: Idealista, Imovirtual, OLX, Casas Sapo, AIRE.
- Real estate agencies: Network of contacts and knowledge of the local market.
- Property visits: Personally evaluate the houses that interest you.
Step 3: Finance the purchase:
- Personal savings: Use your own resources to finance the purchase.
- Bank loan: Obtain a housing loan with a Portuguese bank.
- Support programs: Golden Visa, D2 Visa for investors, etc.
Step 4: Negotiate the price and make the offer:
- Compare prices of similar properties.
- Present a fair and competitive offer.
- Negotiate with the seller to reach an agreement.
Step 5: Hire a lawyer:
- Legal monitoring of the purchasing process.
- Verification of all documentation.
- Representation of your interests in the final deed.
Step 6: Final writing:
- Signing of the purchase and sale contract.
- Transfer of ownership into your name.
- Payment of taxes and fees.
Purchase costs:
- IMT (Municipal Tax on Onerous Property Transfers): 0% to 8% of the purchase price.
- Stamp tax: 0.8% of the purchase price.
- Registration costs: Around €500.
- Lawyer fees: About 1% to 2% of the purchase value.
Useful Tips:
- Do thorough research before making any decision.
- Compare prices and offers from different sellers and agencies.
- Negotiate the price of the house and payment terms.
- Hire an experienced real estate lawyer.
- Make sure all documentation is in order.
Additional features:
- Idealistic: https://www.idealista.com/
- Imovirtual: https://www.imovirtual.com/
- OLX: https://www.olx.com/
- AIRE: https://aire.pt
- Sapo Houses: https://casa.sapo.pt/
- Portuguese Association of Real Estate Developers and Investors: https://appii.io/
- Institute of Public Markets, Real Estate and Construction: https://www.impic.pt/
Buying a house in Portugal can be a rewarding and exciting process. With the right planning and information, you can find the perfect home for you and make your dream come true.