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Old Sep 26th 2017, 9:33 am   #1
Pilou Female
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Default Townhouse vs apartment on site with pool etc

In a couple of weeks we will be in the Algarve for house-hunting.

In the beginning we wanted to buy a townhouse in the center of Lagos, Lagoa or Portimao. Now I have doubts. Some townhouses are for sale already 2 years (that I know) and it does not sell. When we buy that and start to improve and invest, maybe when we want to sell, nobody wants to have a townhouse.

Is it better to buy an apartment on a complex with pool at walking distance from the beach? But how is this in winter. Maybe we will feel very alone on a complex with all the other shutters down.
On the other hand, we won't be in the Algarve during the summer and an apartment on a holiday complex can be rented out. To rent out a townhouse is difficult.

Our plan is to sell after 9 to 10 years and buy a nice villa if we think the Algarve is THE place for us. Can we sell a townhouse .......... Of course, when we invest EUR 160.000 in a house and we sell for EUR 100.000 we can always sell

So a lot of doubts.

Maybe your remarks will help us further.

PS In February and March we were in the Lagoa-Carvoeiro area and we made the most beautiful walks along the coast. Amazing how beautiful. I would like to be at max 6 km out of the coast.
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Old Sep 26th 2017, 9:46 am   #2
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Default Re: Townhouse vs apartment on site with pool etc

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Originally Posted by Pilou View Post
In a couple of weeks we will be in the Algarve for house-hunting.

In the beginning we wanted to buy a townhouse in the center of Lagos, Lagoa or Portimao. Now I have doubts. Some townhouses are for sale already 2 years (that I know) and it does not sell. When we buy that and start to improve and invest, maybe when we want to sell, nobody wants to have a townhouse.

Is it better to buy an apartment on a complex with pool at walking distance from the beach? But how is this in winter. Maybe we will feel very alone on a complex with all the other shutters down.
On the other hand, we won't be in the Algarve during the summer and an apartment on a holiday complex can be rented out. To rent out a townhouse is difficult.

Our plan is to sell after 9 to 10 years and buy a nice villa if we think the Algarve is THE place for us. Can we sell a townhouse .......... Of course, when we invest EUR 160.000 in a house and we sell for EUR 100.000 we can always sell

So a lot of doubts.

Maybe your remarks will help us further.

PS In February and March we were in the Lagoa-Carvoeiro area and we made the most beautiful walks along the coast. Amazing how beautiful. I would like to be at max 6 km out of the coast.
Apartment or town house makes no difference.
Why do you think it would be harder to sell a town house, not agent talk again is it ?
As ever its all about location.
Personally having had an apartment I would have much preferred a townhouse.
In the right area no problems at all renting it out in the summer.
The extra space and privacy are certainly worth paying more for.
If you can get one with a garage even better.
Being on the market for two or more years in nothing to be concerned about , it could be a bank repo, priced too high or simply in the wrong location.
You mention the Lagoa, Carvoeiro area which is where we live.
Decent properties are now commanding a premium, two bed apartments with sea view 200k plus.
Town houses 250k plus , and selling.
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Old Sep 26th 2017, 9:58 am   #3
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Default Re: Townhouse vs apartment on site with pool etc

Carvoeiro is an extremely pretty town and busy all year. We were there in February and it was crowded. Not a ghost-town! Lagoa center is nice too.

The privacy is an important remark. That is the case in most town houses. On a complex less privacy but on a complex you have this holiday-feeling.
Thanks for your comment!
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Old Sep 26th 2017, 10:28 am   #4
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Default Re: Townhouse vs apartment on site with pool etc

We sold our two bedroom townhouse three days after putting it on the market. Advantages of buying a townhouse for us were: no condominium charges, our own private outside space, no one living above or below hopefully so less noise.

Well-priced and well-maintained properties will always sell whether an apartment or a townhouse in my opinion. Focus on choosing something that works for you would be my advice.
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Old Sep 26th 2017, 11:45 am   #5
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Default Re: Townhouse vs apartment on site with pool etc

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We sold our two bedroom townhouse three days after putting it on the market. Advantages of buying a townhouse for us were: no condominium charges, our own private outside space, no one living above or below hopefully so less noise.

Well-priced and well-maintained properties will always sell whether an apartment or a townhouse in my opinion. Focus on choosing something that works for you would be my advice.
Well done!! Gongratulations!
The houses we see for 2 years on the market are not well-maintained. That shall be the reason they don't sell.
In february this year we wanted to put an offer in of (only) 4000 EUR below the asking price: owner and agent: no way, because it will sell soon ......

It is still on the market.
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Old Sep 26th 2017, 11:52 am   #6
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Default Re: Townhouse vs apartment on site with pool etc

The Portuguese property market has many idiosyncracies I have found. It is quite common for property to remain unsold for long periods only for the owner to then put the price UP.

I think they work on the basis that the price for all property has increased so that justifies the price rise. Ultimately a property is only worth what someone is willing to pay.
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Old Sep 26th 2017, 1:15 pm   #7
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Default Re: Townhouse vs apartment on site with pool etc

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Originally Posted by Tonyj View Post
The Portuguese property market has many idiosyncracies I have found. It is quite common for property to remain unsold for long periods only for the owner to then put the price UP.

I think they work on the basis that the price for all property has increased so that justifies the price rise. Ultimately a property is only worth what someone is willing to pay.
Very true, we know of two villas in Carvoeiro built 6 years ago, which had been on the market for most of that time.
Both sold this year at higher prices.
Location,location, location.!!
The builder is holding onto the third which he rents out to tourists as he has no need to sell unless he can get the price he wants.
If good summer rental is an important factor then town centre Lagoa or Portimao is unlikely to attract customers.
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Old Sep 26th 2017, 3:46 pm   #8
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Default Re: Townhouse vs apartment on site with pool etc

We don't want to do summer rentals, but you cannot look into the future.

A house that can be used for summer rental is easier to sell later or if we cannot sell in 9 or 10 years for a decent price, we could rent it out and buy a villa not too far away.
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Old Oct 1st 2017, 7:42 am   #9
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Default Re: Townhouse vs apartment on site with pool etc

Quote:
Originally Posted by Pilou View Post
In a couple of weeks we will be in the Algarve for house-hunting.

In the beginning we wanted to buy a townhouse in the center of Lagos, Lagoa or Portimao. Now I have doubts. Some townhouses are for sale already 2 years (that I know) and it does not sell. When we buy that and start to improve and invest, maybe when we want to sell, nobody wants to have a townhouse.

Is it better to buy an apartment on a complex with pool at walking distance from the beach? But how is this in winter. Maybe we will feel very alone on a complex with all the other shutters down.
On the other hand, we won't be in the Algarve during the summer and an apartment on a holiday complex can be rented out. To rent out a townhouse is difficult.

Our plan is to sell after 9 to 10 years and buy a nice villa if we think the Algarve is THE place for us. Can we sell a townhouse .......... Of course, when we invest EUR 160.000 in a house and we sell for EUR 100.000 we can always sell

So a lot of doubts.

Maybe your remarks will help us further.

PS In February and March we were in the Lagoa-Carvoeiro area and we made the most beautiful walks along the coast. Amazing how beautiful. I would like to be at max 6 km out of the coast.
The Portuguese market is (almost) unique. In that there is so much in private family hands. The Portuguese own their own houses and pass them on to family members .It is therefore not unusual to see properties on the market for very long periods because there is more than one seller. to satisfy. I have looked at total wrecks ,with collapsing roof, and litter strewn gardens, that the owners wanted in excess of 350,000 for.Only because there were multiple family owners who wanted their share
My YD bought her flat in the centre of Lagos two yrs ago. There were 23 owners. However since totally refurbishing it, she sold it for two and half times what she paid for it,just last month
The market is hot right now for any property in good condition,in a good location.It doesn't matter if it's an apartment or a townhouse.Any still sitting there after several yrs are either in a very bad condition,bad position,or have a string of unrealistic owners
Prices have risen by over 9% this year,and will continue to rise as Portugal sits at the top of the leader board as safest and most attractive place to live in Europe.I wouldn't hang around too long! YD is now looking for her next 'project',viewed a flat last Thursday morning, wondered about it on the way back to her office.Sold by the time she got to her desk!! Good luck

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Old Oct 1st 2017, 7:58 am   #10
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Default Re: Townhouse vs apartment on site with pool etc

My worry is that we are buying on the top of the market. We did this before in 2007!! The marketvalue is still down 35%.
To buy again on the top of the market worries me. When the more and more countries in the EU will stop the benefits of the RNH or other external factors will happen, then the prices will go down in the Algarve.

But we planned to move now, but .......
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Old Oct 7th 2017, 8:58 am   #11
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Default Re: Townhouse vs apartment on site with pool etc

I've spent months trying to decide where and what to buy and have just spent the last few days in Algarve viewing for hopefully, the last time.

My ideas about what I want have changed radically this week. I started off thinking about resale in future and initially looked at small villas on a condo. I soon realised that the influx of people in summer and being very quiet in winter, the lack of community and ongoing condo fees that are likely to keep rising were all wrong for me as it would be a full time home.

I initially wanted a traditional villa with a garden in a semi-rural location but again, have realised that as a lone female retiring (and getting older), a townhouse is a good option. I'll have my own space within walking distance of pretty much everything I'll need and from what I've seen, if priced correctly and in a good location, they'll sell.

Good luck.
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Old Oct 7th 2017, 9:21 am   #12
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Default Re: Townhouse vs apartment on site with pool etc

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I've spent months trying to decide where and what to buy and have just spent the last few days in Algarve viewing for hopefully, the last time.

My ideas about what I want have changed radically this week. I started off thinking about resale in future and initially looked at small villas on a condo. I soon realised that the influx of people in summer and being very quiet in winter, the lack of community and ongoing condo fees that are likely to keep rising were all wrong for me as it would be a full time home.

I initially wanted a traditional villa with a garden in a semi-rural location but again, have realised that as a lone female retiring (and getting older), a townhouse is a good option. I'll have my own space within walking distance of pretty much everything I'll need and from what I've seen, if priced correctly and in a good location, they'll sell.

Good luck.
This is exactly how we think. We might feel very very lonely during the months december to the end of february at least. How will it feel to see all the shutters closed on a complex? Spooky?
On the other hand it is tempting to see the beautiful communal gardens, the pool etc. Lots of people will choose this because they can offer their home to friends and family or rent out during the summer. Renting out is easy on a good complex.

I also think of resale when we buy. Who wants to buy a house in a town with traffic, noise, pollution etc? This is my only worry when we decide to buy a townhouse.
Why thinking of resale now? Because nobody knows. When things change in life (especially when you are 60+) you might want to leave Portugal or only live a couple of months there. The possibility to rent out with a communal pool is easy.

We are thinking of buying a townhouse, but we also have doubts. During November we will have a walk in Alporchinhos with lots of nice complexes and see if it is too quiet.
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Old Oct 7th 2017, 9:42 am   #13
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Default Re: Townhouse vs apartment on site with pool etc

Not all townhouses need to be on a busy street. During my hunt over several months, I've seen them in all locations in the Algarve. The first one I viewed actually had an ideal mix. it was spacious, modern and on a small condo with a lovely pool and very reasonable fees. I'd have bought it there and then but it was just a little too far out for me but that said, most of the properties were permanent homes and it was a little community in itself.

I'm seriously considering making an offer on a townhouse I saw a day or two ago. For less than the price of a tiny condo villa, this one offers 3 times the floorspace and is in immaculate condition. It's walkable to the town centre yet is tucked away in a quiet location with hardly any traffic.

I think you need to view a whole variety of properties and my biggest bit of advice is to talk to people - knock on doors. I almost made an offer on a condo villa a week ago. After the agent viewing I went back on Sunday morning and walked around the complex. I spoke to several British couples that were there (amazing as the place was really quiet but I was determined to find someone to talk to). 2 couples had owned their places for years but both said they would find it too quiet out of the season and that it got so busy in summer that they rented it out rather than visited themselves. One other couple had just bought theirs, had it totally renovated and were living in it permanently. They loved it.

I also discovered that there had been issues with the pool area. It didn't actually belong to the property owners (as in a bit of the price you pay when buying accounts for communal ownership)but was privately owned. The owner is trying to sell it and there have been ongoing issues and it's likely to be closed within the year if he can't find a buyer. I also found out that the condo management company went bust and it's now managed by a group that oversee many other condos. The fees for this particular place were already high IMO and the residents told me that they had been rising year on year and were expecting another rise.

If you buy on a condo, you need to be clear exactly what the terms are. In the end, I couldn't justify paying out 10% of my small pension every month to have the lawns cut and to occasionally have use of a pool. It works for some people but not for me.
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Old Oct 7th 2017, 10:01 am   #14
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Default Re: Townhouse vs apartment on site with pool etc

Lots of properties I had saved in my wish-list are sold now or reserved. I think when you see a house that you like, go for it and put an offer in.

I have 1 house on the top of my list for almost 1 year. When we arrive in the Algarve in 3 weeks, we will see the house again and we will put an offer in. In February the price was relatively high and no negociation possible. It was then not on the top of our list and we were focussed on 2 other properties. Now we are ready for it ........ I think.

When we bought in Spain, before putting an offer in, we asked the keys to be able to stay in the house the whole day. You can check everything in the house and have the time to FEEL the house. You cannot FEEL a house in 30 minutes. I want to be there and imagine my life in that house. Taking mesures, open windows, etc.
So this is what we will ask the real estate agent. Of course this is only possible when the house is unfurnished.

Every day another person can put an offer in, so don't let it go, Cheriepop.
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Old Oct 7th 2017, 11:31 am   #15
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Default Re: Townhouse vs apartment on site with pool etc

Quote:
Originally Posted by Pilou View Post
Lots of properties I had saved in my wish-list are sold now or reserved. I think when you see a house that you like, go for it and put an offer in.

I have 1 house on the top of my list for almost 1 year. When we arrive in the Algarve in 3 weeks, we will see the house again and we will put an offer in. In February the price was relatively high and no negociation possible. It was then not on the top of our list and we were focussed on 2 other properties. Now we are ready for it ........ I think.

When we bought in Spain, before putting an offer in, we asked the keys to be able to stay in the house the whole day. You can check everything in the house and have the time to FEEL the house. You cannot FEEL a house in 30 minutes. I want to be there and imagine my life in that house. Taking mesures, open windows, etc.
So this is what we will ask the real estate agent. Of course this is only possible when the house is unfurnished.

Every day another person can put an offer in, so don't let it go, Cheriepop.
Town house in the Algarve does not literally mean in a town but is often a two storey linked property on a development.
Passed signs this morning advertising a new large development to be started in Carvoeiro a combination of villas ,apartments and townhouses.
This site has been fallow for 9 years.
Prices have risen since February and demand has grown certainly in the popular coastal region , up to 10k from the coast.
One agent I was talking to this week is removing more properties sold than listing
New ones.
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