It's happening!!
 

Hello again. I posted a few weeks ago whilst I was on an inspection visit with an estate agent gathering information about starting a new life in the Algarve.

On my return to the UK, I set about putting my house on the market. It went up for sale last Monday and by Thursday I had 2 offers in place. There are more viewing booked for the coming week and I'm hoping to have sold by this time next week so the house hunt proper in Algarve will begin soon.

My last visit there did more to confuse me than to help me decide what I'm looking for so I've just sat back and let my brain work it out for itself. I've come round to the idea that I'd prefer a more traditional home in a town or village rather than in a condo. That's mainly because I'll be bringing my dog so need some garden where she can run around. I'm also on a tight budget for day to day living so avoiding condo fees could make a real difference to me. Essentially, I'm governed by what's available when I came over to buy but advice on a couple of locations would be a real help if anyone can contribute?

One of the places I'm really keen on is the Loule area. There seems to be properties of the type I'm looking for in the right price bracket dotted around. I've also seen a couple of places around Guia and several in Sao Bras. Apart from passing through Loule once or twice before I planned to relocate, I don't know any of them. I don't mind being a short distance away from the heart of the towns but would like the option to walk to a shop or restaurant etc. without having to rely on my car.

Has anyone experience of living in any of these locations? I'd like to have other expats around as I'll be starting a new life on my own so need to be able to make friends but also want to be in a residential area with a mixed community. It's all very well reading about different places and I've learnt not to trust the estate agents to give a true reflection of a location and what it has to offer so a warts and all appraisal would be very much appreciated.

Thanks in advance.....:fingerscrossed:

Re: It's happening!!
 

Condo type developments are reasonably common near the coast and for specific areas like Vale do Lobo. They can be expensive and 99% of the population avoid them for that reason.

Loulé and São Bras area in my view are great choices but you have to spend time in each before deciding. Suggest you rent for the Winter before committing to a purchase. If the reality doesn't match the dream then it can be a long expensive job to get your funds out again.

Plenty of low cost rental options out there between October to May. My advice would be - don't be in a rush to buy anything until it feels exactly right.

I would rent the UK house out for the same reason - you can live on the funds and the way prices in the UK are going there will be some good capital growth over the next year while you find out about Portugal and decide where you prefer

Re: It's happening!!
 

Thanks for the advice. It has been suggested to me before that I rent for the winter but I had a couple of reservations about that - namely the cost, what if I hadn't found anything to buy when I had to leave the rental and since property prices appear to be rising, am I going to end up paying more to buy if I wait?

It's so difficult to know what the heck to do!

Re: It's happening!!
 

Very good advice and it applies to anywhere you are considering in the world. We have lots of friends, of all nationalities, in the Sâo Bras area and they love it. Rent for a while and then decide for yourself.

Re: It's happening!!
 

There are sometimes bargains to be had even though prices would appear to be going up. The exchange rate is a bit of a problem at the moment. Look for a small, cheaper rental place to save money.

Re: It's happening!!
 

Do your research when you are here, not from the UK
Much better to rent for a few months , than commit to a purchase and then decide after a few months you made a mistake. With your house in the UK sold by the time next spring you will have a considerable appeal as a "Cash Buyer" and also will have the advantage of knowing better exactly where you want to live. Price movements are not so spectacular that you have to worry, they creep .

PS Loule is a very pleasant town and has loads of facilities

Re: It's happening!!
 

Excellent advice - thank you all.

On the back of that, where's the best place to look for rentals especially since I'll have a dog? The only things I can find at the moment are long term holiday lets which are way over what I could afford.

Re: It's happening!!
 

Web sites such as Idealista :https://www.idealista.pt/arrendar-ca...e/loule-norte/

will give you some idea as to what is available and at what price, it is available in english . Another one is :
https://www.longtermlettings.com/fin...rve/sct/Loule/
We actually went to the holiday rental sites and checked availability on the properties in the area we were looking and if the winter was vacant tried to negotiate a longer term than the usual two weeks or so. Took a lot of work but in the end found one owner who was happy to accept a reasonable rent during the winter and we have a dog

Re: It's happening!!
 

Hi, we started house hunting in february and march in the Algarve. Visited a couple of houses, but some of them were sold the next day.
We have this same doubt: when we rent for 6 to 12 months, maybe the houses will go up 10-15% and then these houses could be out of reach.
We had put an offer in on 2 properties: asking price 125.000 and we offered 120.000: answer NO.
The another property of 95,000 our offer was 90,000 and then 92,000. Answer NO. We could not believe this.

Another property was on the market for 88,000, but 2 days after visiting i went up to 99,000.
So what is my impression: houses sell without any effort from the real estate agent. Sellers become more greedy in the Algarve and prices rise.

Bur ..... I have the impression that now prices are above a reasonable level and I see houses that are for sale 2 years or more and some prices drop. I think there might be a kind of stabilisation.

For the rental market: real estate agents told us: for 1 property for rent, we have 30 people that are interested to rent. We, with a dog of 55 kilo, won't make any chance.

Re: It's happening!!
 

Sellers are not becoming greedy, you would have paid more for The same properties a few years ago.
A lot if buyers are chasing properties at the bottom of the price range so competition is fierce.
Very few low priced properties are now coming onto the market.

Re: It's happening!!
 

I'd better get my skates on! It all sounds a bit daunting to be honest but I'm committed to buying so it has to happen.

I have a friend where I live now who I'll be lodging with once I've sold here who happens to jointly own a villa there with her siblings. It's been rented out for holidays until this year but as of October, they've decided to use it for family only. It has a self-contained apartment on the top floor and she did suggest at one point that I could use it while I looked for a place. I may approach her about it and see if it was a genuine offer as she has no objection to my dog being there.

My budget isn't huge but certainly not right at the bottom end. I need to be able to buy something, including all the purchasing costs, for a maximum of 250k euros. I'd like to spend a lot less but it has to be a house with a bit of garden and in liveable condition and not too isolated.

If anyone sees anything on their travels, let me know!! All the suitable places I've seen as being available have actually been sold but not marked as such on the websites.

I live in hope.

Re: It's happening!!
 

I'm sure that once you settle on an area you will be able to fine somewhere very nice with that budget.
We bought in the Algarve in June. We were told that places are selling quite well now and that prices will rise - but try not to panic buy.

2017: property market overview | Portugal Resident

Re: It's happening!!
 

If your friend's apartment turns out to be unavailable to you, consider a camper van for your interim living situation.
We did that, dog and all.
Obvious advantages, obvious disadvantages too. But mainly, it's just really flexible.

The most important thing you need to figure out about your prospective new home is [in my opinion] the neighbors.
After you view a property you find attractive, go back and knock on doors to either side; introduce yourself and see what kind of reception you get.
Ask if they know anything about the place you should know before buying, have a conversation if you can.
Even if you encounter a 100% language barrier, you'll get a feeling.
Friendly neighbors; happy living. Unfriendly neighbors; unhappy living.

Re: It's happening!!
 

:thumbsup::goodpost:

Re: It's happening!!
 

Try here perhaps ...

Long term lets/rentals in the Algarve, well behaved dogs welcome