10 Common Mistakes When Buying a House in the Algarve
The Algarve attracts thousands of Dutch and Belgian buyers every year. Its sunny climate, relaxed lifestyle and attractive property market make Portugal a popular destination.
Yet we regularly see the same mistakes cropping up.
1. Relying solely on the selling estate agent
The selling estate agent works for the owner of the property, not for the buyer.
2. Falling in love with your first home
A property may look perfect whilst on holiday, but a purchase deserves an objective assessment.
3. Not checking for permits
Not all renovations are officially registered. This could cause problems later on.
4. Underestimating the additional costs
In addition to the purchase price, there are costs for:
- IMT
- Stamp duty
- Notary
- Lawyer
- Registration
5. Do not carry out a structural inspection
Cracks, damp problems or overdue maintenance are not always visible during a viewing.
6. Just viewing the property
The surroundings are just as important.
For example:
- Accessibility
- Facilities
- Future developments
- Rental potential
7. Making decisions too quickly
Emotions often play a major role. Make sure you allow plenty of time for research.
8. Not engaging local experts
A good solicitor and estate agent can help avoid a lot of problems.
9. Misconceptions about letting
Not every property can simply be let out to tourists.
10. Assuming that everything works the same way as in the Netherlands
Portugal has its own rules, procedures and customs.
Conclusion
Buying a house in Portugal doesn’t have to be complicated, provided you have the right guidance. By avoiding these common mistakes, you’ll significantly increase your chances of a safe and successful purchase.
