Looking to buy a home in the stunning Algarve region of Portugal? From stunning beaches and warm weather to charming towns and a wide range of property options, the Algarve has something for everyone. But before you make a decision, there are several important factors to consider to ensure you find the perfect home for you. Here’s what you need to keep in mind as you begin your home buying journey in the beautiful Algarve.
10 essential things to consider when buying a home in the Algarve
- Location: One of the most important things to consider when buying a home in the Algarve is the location. You should think about the distance to amenities such as schools, hospitals, and supermarkets as well as the overall appeal of the neighborhood. Consider the distance to the beach and other recreational activities and the condition of the road as you might have a short distance but on a bumpy road. In addition, the distance to Faro airport and the A2 highway that connects Algarve to Lisbon could also impact your decision.
- Budget: It is important to have a clear budget in mind when buying a home in the Algarve. You should consider the cost of the property, as well as any additional expenses such as condo fees, renovations, furniture, and closing costs. Plus other recurring costs such as utilities, garden/pool maintenance, alarm and insurance.
- Size and layout: Think about the size and layout of the home you want to buy. Consider the number of bedrooms and bathrooms you need, as well as the overall layout of the property.
- Type of property: The Algarve has a wide range of property types to choose from, including apartments, villas, and townhouses. Consider the type of property that best fits your needs and budget.
- Condition: Consider the condition of the property you are interested in. If the property needs a lot of work, you should factor the cost of renovations and repairs into your budget and the time it takes to complete the works, especially if you need Planning Permission from the City Council (Câmara Municipal). If this is the case the process must be led by an architect who is familiar with the local legislative and planning requirements and last but not the least, you’ll also have to find a reliable local constructor.
- Future plans: Think about your future plans when buying a home in the Algarve. Are you planning to stay in the property long-term, or do you plan to sell it in the future? This can impact the type of property you choose to buy.
- Resale value: If you are planning to sell the property in the future, then you need to bear in mind the resale value of the property. Look for properties in high demand areas that are likely to appreciate in value over time.
- View: If you are buying a property with a view, consider the type of view you want. Do you want a property with a sea view, a mountain view, or a view of a wonderful green golf course?
- Energy efficiency: Look for energy-efficient features such as double-paned windows and energy-efficient appliances, as these can save you money on energy bills in the long run.
- Legal and financial issues: When buying a home in the Algarve, it is important to consider legal and financial issues. Make sure you have a clear understanding of the buying process and of the ongoing taxes and fees charged to property owners in Portugal.
By considering these factors, you can make an informed decision when buying a home in the Algarve and we are here to help you with our local expertise.
