Is it your dream to be in your Portuguese property by next summer? If so, that gives you about nine months to complete the buying process. Here, we offer a framework so that you can feel the keys to your new Portugal home by July.
Picture you next summer. Whether you want to be next to your private swimming pool in the Algarve or drinking your morning coffee from your balcony looking out to views of Lisbon, this article will help get you there. This is a potential framework of steps to take to complete the home-buying process. If you think that your Portugal move-in date is a little further away than next summer, then let this give you an idea of the steps you’ll take in the future.
Fulfil your dreams of owning a home in Portugal…
Find homes in Portugal via our property portal.
What you can do today…
1. Register for any upcoming Your Overseas Home events. Their biannual events are in March and November, and each one is a great place to start your planning – you can meet experts in overseas real estate, property law, removals, foreign exchange and more.
2. Browse upcoming webinars on Your Overseas Home for advice, tips and tailored guidance for buyers in Portugal.
Join us for our webinar, bring a notepad & put your property plans in motion.
The next few months…
You probably already have an idea of what you want your dream Portugal property to be like but now you can start homing in on what you kind of property you’re after. To kickstart this, we recommend reading our guide on how to buy a property in Portugal. Download your free copy here.
1. Decide how you expect to use your property. Are you planning to emigrate with family and work? Are you interested in Portugal’s digital nomad visa? Or are you looking to retire? If you’re after a holiday home, you might want to think about how often, practically speaking, you envision going there. Your answers to these questions will determine the visas that you look into. On the Portugal Property Guides news section, you’ll find some useful articles on visas and more.
2. Settle on a location. Odds are your property plans in Portugal are already inspired by enjoyable holidays in your favourite location, but this is a chance to research and pick neighbourhoods that you’d feel really at home in.
3. Gauge an idea of the type of property you’d like. How many bedrooms do you need? How far do you want to be from the airport? Is a pool and a garden essential?
Then, you can put together your support team. We recommend three essential contacts to help you make your buying plans as safe and secure as possible. We call these the “golden three”. They are:
Five months to go
1. Begin your hunt for a home on the Portugal property portal. Your estate agent could show you some extra ones too.
2. Open a bank account in Portugal. Learn how here.
3. If you’re unsure of your budget, it can be helpful to speak to a reputable financial expert. Find one here.
Four months to go
Time to look at properties!
This is one of the most exciting parts of the buying journey – going on a viewing trip! A viewing trip is a chance to get familiar with the area of your choosing, see a selection of properties in-person, and potentially find the home for you. Read our viewing trip guide here.
If you have already found a lawyer in Portugal, it is a good idea to meet up with them and discuss your plans. They’ll be able to advise you on the legal process regarding the purchase of a property and your deposit.
Plus, get in touch with your currency specialists (such as Smart Currency Exchange) again to make sure that your plans are in place, should you want to transfer deposit money to Portugal.
Three months to go
By this stage, your Portugal property dreams are falling into place. Depending on your nationality, work status and the logistics of your move, you might want to get in touch with:
- Removal companies
- Visa and residency experts
- Tax specialists
You might not have fallen in love with a property yet. That’s okay – don’t feel like you have to get the first one that you see. It might wise to book a second viewing trip.
Once you’ve found your favourite home:
1. Put in an offer.
2. Speak to your currency specialist about your pending payments and come up with a plan.
3. You may want to get the property surveyed.
Two months to go
Hopefully, your offer has been accepted by the seller. Once that has taken place:
1. If requested, sign the reservation contract.
2. You’ll have the deposit contract to sign, which is known locally as contrato de promessa de compra a venda. Then pay the deposit.
3. Make your final payment.
4. Contact necessary companies to ensure that the utilities are all connected.
5. Sign the final contract.
One month to go
With the majority of the work done, you’re just waiting for the call from your Portuguese lawyer to tell you the great news…the property is yours!
1. Get the keys.
2. Move in!
3. Make it feel like “home”.
For guidance during any step of the buying journey, reach out to our property consultants. They can walk you through the process, get you in touch with experts, and more. Schedule a call back today.
