Buy Property in Portugal
Whether you intend to Buy in Portugal for the first or fifth time, the process involved to buy Portugal is a detailed and time-consuming venture. It may also be an emotional period laden with difficult choices. You want to ensure that the home you purchase meets your family’s needs now, and in the future.
Each of these decisions often involves money. When you consider all that money represents, you’ll want to ensure that you don’t pay too much when you buy Portugal. This article helps you become a savvy buyer, by pointing out some of the pitfalls inherent in the buy Portugal process. These include such things as knowing what you want before you begin shopping, taking your time to shop, choosing the right realtor, and remaining objective while viewing potential homes. With this information, you’ll be closer to finding your ideal house in Portugal.
Develop a needs vs. wants list
Everyone has a picture of an ideal home. This would include all the features you not only need, but have long desired. However, when it comes time to buying in Portugal, the desires cost more. While it’s nice to think about having a beautifully landscaped backyard, or a solarium, perhaps even some built-in appliances, these are usually considered luxury items, which can add considerably to the price of your home.
That’s why it’s a good idea when you buy Portugal to develop a needs and wants lists. With this list, begin with items you really need like adequate space, garage and number of bedrooms. For most people, basic needs should be considered first. After that, you could consider additional desires, if you can manage these benefits financially. With such a list in your hands when you buy in Portugal, you’re less likely to be caught up in the excitement of buying. You’ll have a good idea of what you want, within your price range, and if you can afford those additional items.
Get pre-approved before you buy
Visit your financial or lending institution before you buy Portugal. Quickly, you’ll know the amount of mortgage you’ll receive. Be sure to get a mortgage commitment in writing. Most importantly, you’ll tell sellers that you are a serious prospective buyer. Depending upon market conditions, a seller may lean towards an unconditional offer.
You’ll have less negotiating power if you have to wait for mortgage approval. Banks and financial institutions have developed many programs especially for home buyers in Portugal which in some instances include 100% funding. When you review your needs and objectives with a lending officer, you’ll be one step closer to purchasing your home.
These are just two of the things to keep in mind when you Buy Portugal. To receive an additional twenty tips simply complete the information below. Download your Free Report from the Buy Portugal Property series