When you’re trying to buy a property abroad, there’s a lot to think about. Raising the cash, getting a mortgage, finding an agent you trust and of course finding a property that you like in your price bracket and location. This may take a few trips back and forth – or you may find THE one on your first visit to the country.

Once you’ve found and viewed the property and made an offer, then there is the wait to see if it will be accepted.

Potential stress-fest?

It doesn’t have to be. If you and your agent have a clear strategy, you give yourself every chance of success (and a good night’s sleep).

When it comes to making an offer, it’s worth remembering that if you like a property that’s for sale, it’s almost certain that at least another client or clients will also be keen. 

That means you’re in a competition. Having an agent who has a plan can help put you in pole position to win.

Here are the core elements of our strategy for success when we help clients make their offers.

Get a ‘mortgage in principle’

We can not stress this enough! If you are thinking about using finance to help purchase your property get things in place with this first rather than waiting until you have found the property of your dreams. A mortgage in principle confirms to the seller, and us, that you deserve to be taken seriously as a potential buyer.

A mortgage in principle is a statement from the bank – we can recommend the best banks to use for proactive and professional service – that says it is willing to lend you a certain amount of money, so you can show that you can afford the property and that the transaction has every chance of proceeding smoothly.

A mortgage in principle is based on your financial situation and usually lasts for between two and three months. After that, the lender will probably want to check nothing major has changed with your financial situation.

Put in a realistic offer

There’s a fine art to making an offer on a property. Too high and you risk paying more than you need. Too low and you might be beaten to the prize by another buyer.

So how do you work out what your offer should be?

Talk to us. We are professionals who understand the local market better than anyone, we know what a realistic price would be. Let us guide you through the minefield of getting the best price for your dream home.

Give yourself some room to negotiate

OK, so you’ve done your research, chatted to us and made what you believe is a reasonable offer for the property.

The next thing that you will hear is whether your offer has been accepted or not.

If it hasn’t, you can decide whether or not to increase it – provided, of course, you’ve got the funds available to pay a higher asking price. If you don’t want to or can’t increase your offer, you negotiate. There are a few lines we can go down – is furniture included, can you close quickly, if you are buying a second or holiday home in the sun the chances are that you are not in a chain – you aren’t relying on a property to sell – and this can be very attractive to a vendor if they are looking for a quick sale. In fact, escaping the constrictions of a property chain might be attractive enough for the vendor to tell us to accept a lower offer than one from someone who is in a chain. It’s certainly worth pushing this point if you are at, or close to, the upper limit of your budget.

Get the property taken off the market

Once your offer is accepted we will ask you to send a reservation fee over to your lawyer. This allows us to take the property off the market. There’s nothing legally binding about making or accepting an offer, so if another buyer arrives on the scene and improves on your offer, the seller is able to accept it.

That’s known as gazumping. However, once the reservation fee has been sent to the lawyers no further viewings or offers can be made, so make sure you have your reservation fee (€6,000) ready to go as soon as we let you know your offer has been accepted by the vendor.

Make sure you speak to us about your property search – we have over 50 years of experience in buying and selling property in the Algarve – we can help you through the whole process – www.portugalpropertyhub.com

First impressions count.

When you’re putting your home on the market it is vital that it has kerb appeal – not just for when we bring clients round to view, but in the photographs that we take to advertise it in the first place.

Why does it matter?

A photograph of the outside of your property, with a view to the pool, is normally the one that we will pick as the lead photo on our website, social media channels and the international portals that we advertise on. It will usually be the first picture of the ones that we put online and the one that shows up in search results – its main job is to get people to click on your property to find out more information.

If the main image isn’t enticing, then you’re likely to have a low ‘click-through rate’, meaning that not many people are interested enough in the first image to click through and find out more and look at the rest o the pictures of your property.

Kerb appeal is also important for the viewings that we arrange with you. We try as much as possible to give you at least 24 hours notice of any clients wishing to view your property so that rooms can be tidied and floors mopped, but remember not all clients give us that buffer time, sometimes we may only know an hour before that they are here and wish to view. The appearance of your property in real life must match up to the good-looking online images that we have, otherwise buyers will be disappointed.

What elements make up good kerb appeal?

The design of your property and front garden (if it has one) forms a large part of your kerb appeal and in many cases cannot be changed without great expense.

However, by ensuring that paintwork is fresh, windows and doors are clean and all hedges, planting and lawn areas are neat and tidy, you can maximise the appeal.

For photography, we love to come and photograph your property on a sunny day (and with 300 or so days of sunshine in the Algarve that isn’t so hard!) as getting sunlight on the front face of the property on a clear blue day can make a huge difference.

Four top tips for maximising kerb appeal:

1. Pay special attention to your front door

It’s the focal point that buyers will be subconsciously looking at, so it needs to make a positive impression.

Giving doors a fresh coat of paint will give your property an instant face lift and don’t forget to polish metal letterboxes, house numbers and door-knockers. Or consider replacing them if they’re past their best.

2. Give driveways, patios and pool surrounds a new lease of life

Most paved, concrete or calçada driveways will look far better once they’ve been thoroughly cleaned with a pressure washer. The same applies to rendered surfaces, patios or decking.

3. Spruce up your boundaries

Where your property starts and ends will be a key question in a buyer’s mind, so make it obvious and attractive.

Give wooden fences and gates a new coat of varnish, re-paint metalwork and make sure all gates function properly. Trim hedges neatly and prune any planting next to doors and pathways.

4. Add some greenery 

Both exterior property pictures and home interiors often look more inviting with a pop of green.

Place colourful potted flowers outside your front door or add a hanging basket.

If you have a lawn, make sure the grass is green and mowed regularly. Sweep away fallen leaves and keep trees, shrubs and other plants neat and tidy. Weeds are definitely on the banned list.

Buying a property is exciting and terrifying all at the same time. After all, this is the biggest financial move most people will ever make.

There can be a lot of room for error, and even tiny mistakes can translate to tens of thousands of euros down the drain. The lesson here – even the most seasoned home buyer should get some guidance on what to do, but also what not to do – especially when you are buying a property which is located outside of your home country.

Today we highlight the most common mistakes buyers make so you can avoid the same fate.

Don’t look for a property without using a real estate agent

We all know that property searches start online as it is a great way to see what is on the market, but when it comes time to get serious about buying, you should find a professional – such as Portugal Property Hub – to help you out.

We will help you to turn your dreams into reality. We will guide you through every step of the process—from finding the right property, making a winning offer, introducing you to the best lawyers and currency exchange companies so that your purchase is stress free and you can sail through to the day of the deeds. 

Don’t understate your budget

It might sound strange, but a number of clients we speak to make the mistake of hiding their true budget from us. Some people are afraid that we will only show them properties at the top end of their budget so they understate their price range. We won’t – we listen to all of your property requirements, including your budget, and show you the best options we have which meet your needs.

If you’re not upfront about your price range you might miss out on a great house.
Also following on from this point let us know at the outset if you are looking to finance your purchase with a mortgage. In Portugal mortgages are available but the process can take a few weeks. If we know at the start that you are looking for finance we can point you in the best direction to banks who are offering the best deals – and we can take this into account when negotiating with the vendors. 

Don’t hold out for the ‘perfect’ house

We always talk about buying your dream home in the sun, maybe we shouldn’t, as there may not always be the perfect property for every buyer. This is the reason we ask you for your property requirements and from that list we then ask what are your must haves and which bits can you compromise on. With this knowledge we can go and find you options which best suit your needs – obviously we will try to find you options that match all of your criteria, but it’s good to know what can be compromised on just in case we can’t.  

Don’t make really low offers

We know that you are looking to get a bargain, but by making really low offers on properties you could lose out. In a recent survey from Inman 15% of real estate agents in America said that the third largest mistake people make when buying a home is offering too little for a property (the second was not talking to a bank first about a mortgage and in first place was waiting too long to make an offer).

Imagine you were trying to sell your property, how would you react to a low offer?

Trust us to help you assess the value of a property and to negotiate a winning offer.

Don’t forget to budget for purchase costs

There are a few costs for the vendor to pay when selling, but as the buyer you have the (unfortunate) pleasure of shouldering the lion’s share of the purchase costs. We will explain the buying costs to you at the start of the process and let you know how much you should expect to pay – generally budget for 10% of the purchase price to cover all costs, but in most cases the purchase costs will be significantly less than this – and you can then let us know if your budget is inclusive of buying costs or excludes them.

Don’t transfer your money through the bank

Baks are great for a lot of things, but transferring money into euros is not one of them. We would always recommend speaking to a currency exchange company when it comes to moving money from one currency into euros. They can save you up to 4% which could go towards the purchase costs or even fitting out your new property with brand new furniture. They currency company can also give you a great idea of what your budget translates to in euros and can go through all the ways of securing the best rate to make your money go as far as it can.

So with all of that in mind, why not check out all the properties we have – www.portugalpropertyhub.com – and get in touch so that we can help guide you through the next stages of your property search.

How are we all doing now we are into what feels like day 1,455 of lockdown?!

A question which I have been asking myself recently is what will the future look like post Covid-19. Up until now I hadn’t really considered if this would change the evolution of property, however thanks to my late night scrolling I came across an article that a friend in Lisbon shared on her LinkedIn page which did get me thinking.

Before reading the article I hadn’t really thought of my home as a limiting space. Luckily my husband, 2 dogs and I have enough room so as not to feel too claustrophobic during this time and we have a garden to get out into whenever we need. Having read the article I found myself thinking about the limitations many people are facing at this time of the four walls they call home. For those in apartments, city centres or shared properties how were they feeling? This is the topic of the article. Written by architects from Spain, Italy and France, where the situation of confinement is severe, this is how they think property will have to change post Covid-19 to ensure people’s health, safety and work are optimised at home.

“Domestic spaces will change”, says Gonzalo Pardo. Homes of the future will have to be versatile with multifunctional spaces – “houses must be transformable”. French architect Frédéric Ganichot believes that “this crisis will accentuate the already existing tendency to design modular spaces”. Multi-functionality makes sense as all our activities are now being carried out at home – working, exercising, relaxing and “socialising”. 

Terraces and roofs tops will be used to enhance the interior-exterior relationship. “These areas will be projected in continuity with adjoining areas, shaping interior-exterior living rooms and bedrooms with private patios”, says Javier San Juan. Ganichot agrees “interiors will acquire the status of exterior spaces”. 

Materials used may also change. “It is important that surfaces are easily cleanable and that in some spaces even repel dirt. It is also important that architects create clean details which are easy to maintain”, says San Juan. Things which we once thought of as futuristic may become the norm – doors with facial recognition and voice controlled elevators to prevent us from using buttons etc may become part of daily life.

Communal spaces may also be rethought. Houses that make us feel good and to be enjoyed as a family will be designed. Pardo believes that domestic spaces “should be more playful to keep the greatest number of family members entertained”. Being comfortable at home is now essential and, in this sense, “emotional architecture (neuroarchitecture) – how the built space affects the cognitive level”, will come to the fore says San Juan.

So, properties may start to change, everything evolves over time. We don’t know what the world be like once Covid-19 passes. One thing is certain – in this period of confinement, appreciation for our home is changing and we are asking questions we never would have thought of 6 weeks ago. Is your property quarantine proof and why? Is it multifunctional? Is there a space perfect for you to work from? Or, is the terrace / garden a lifesaver if you have to spend weeks inside?

One of the things that I never appreciated before about living in the Algarve was space – to have the space to work or exercise and not get under the feet of my husband! Space to enjoy the sunset, get into the garden and breathe fresh air and, although not right now, the chance to enjoy the vast stretches of coastline and the stunning interior of the region. It is a truly beautiful country and to own a home in it a great privilege.

I’m Ruth, leader of Portugal Property Hub.

Real Estate has been my passion all my life. Having gone through some of the most challenging of times, I have successfully worked my way through the ranks of the property industry.

I set up Portugal Property Hub 8 months ago, to lead and develop a team of experts in the property field.

In our first quarter of 2020 we had many positive results. It was very successful and we helped many clients find their dream home in the sun. The business was growing and all the team were hitting their targets and achieving their goals.

Then Covid-19 hit.

The Portuguese government immediately closed all borders, schools and non essential business, we went into lockdown. We all started to work from home. The news from all over the world was, and still is, devastating.

As a resident and business owner in Portugal, I am immensely grateful 4 weeks on that I live here. The Portuguese government has been incredible, acting so quickly and helping us all keep safe. We were voted one of the safest places in the world and just this month Forbes voted the Algarve one of the safest places in the world to live in after Covid-19. The whole community of Portugal has been inspirational, adhering to all the rules and regulations from North, South, East to West. As they say many times,” team work makes the dream work” which is exactly what our leaders Antonio Costa and Marcelo Rebelo de Sousa have done. They have not only acted quickly on closing the borders and locking the country down, they also have put business owners minds at ease, by helping us to keep our business open.

During this devastating time, on behalf of Portugal Property Hub, we would like to thank everyone in Portugal, and around the world, who are keeping us safe, the frontline workers, even our Portuguese nurse Luís, who helped in the healing of Boris Johnson. Thank you to all the lawyers, accountants and currency exchange specialists who have worked around the clock. Thank you for believing in us and for all your continuous support.

A very big thank you to our clients, we are forever grateful.

Finally I would like to say our Portugal Property Hub team continues to operate at full speed, we want to grow and grasp every opportunity and focus on the POSITIVES for the future, looking forward to meeting you all and finding you your safe dream home in sunny Portugal in the near future. In the meantime , Stay Safe and Positive.

Ruth

In relation to the Covid-19 pandemic Portugal has reacted incredibly well. The Algarve has been one of the areas of the country where there have been hardly any cases and the country as a whole has not, thankfully, seen anywhere near the numbers of deaths experienced by our Iberian neighbour and other European countries.

In years gone by I would always refer to May the 4th as Star Wars day (May the fourth be with you/may the force be with you!) but this year May the 4th was far more important for us here in Portugal. It marked the official opening (albeit in a limited way) of the economy and the end to the state of emergency.

A new chapter begins for our everyday lives.

Activity across the market has started. Over the last few days enquiries into our properties have started to get busier, we have been able to show some of our properties to potential buyers in person and also penciled in future trips for when international travel is available.

Our partners have also been busy. Speaking to our colleague at our currency partner FCD, Jenny Crutchley she explained how currency fluctuations can impact a property purchase:

“When the State of Emergency began on March 18th the GBP-EUR interbank rate was averaging 1.06, we are now averaging a rate of 1.14. In simple terms this means that a property costing €300,000 before the lockdown would have cost a British client in the region of £283,000, however today it would cost them just over £263,000. This is massive saving of almost £20,000! For international clients that have to convert currency, the price of a property is effectively fluctuating on a daily basis and so our currency services are a necessary discussion point, we can help work with clients to determine their correct budget.”

With steps being taken to re-open Portugal there are still hygiene and social distancing rules which must be adhered to and masks should be worn in public, but shops, businesses and some outdoor sporting venues have begun to re-open.

Our office is no exception – we will also re-open! From Monday, May 11th our Vilamoura office will open and we can’t wait! Even though we have all been busy working from home and have completed property viewings – mainly via video walkthrough – our whole team is looking forward to getting back into action!

The last 8 weeks have shown us how important it is to have a home where you can feel safe, have room to go about your everyday living and somewhere you can enjoy with the whole family. Make sure you see what properties we have which can offer all these and more to you and your loved ones. Get in touch today to see how we can help you with your property search.

Portugal is reopening to tourists without a two-week quarantine.

Being here in the Algarve, living and working in Portugal, normality is certainly on its way. Over the past few weeks shops, hairdressers, businesses and restaurants have started to open their doors. Soon, almost all commercial entities will be up and running – albeit with certain distancing restrictions still in play – so it seems obvious that the next door to open is that to tourists.

Portugal will be one of the first European countries to open their borders to tourists this summer – vowing to welcome overseas tourists as early as June. Unlike many other countries, which require visitors to undergo a two-week quarantine upon arrival, Portugal is waiving that requirement, making it easier for people to travel to the country. Some health checks will nonetheless be introduced at airports.

Due to the way that the government has handled this pandemic and the low numbers of COVID-19 throughout the country Portugal is seen to be a safe country to live in and thus is extremely attractive to those wishing to get out of the four walls that they have been confined to for so long.

Portugal has specified which countries will be welcome those from the Schengen Area (except nearby Spain and Italy), as well as the US, Canada, and Brazil.

A statement on VisitPortugal.com reads, “Continuing general restraint and containment behaviour, the resumption of economic and social activity will take place in stages, allowing the analysis of the development of the outbreak and the implementation of new measures where necessary. The civic duty of home confinement and social distance (two metres) is maintained, and the use of face masks are mandatory in public transport and services, shops and supermarkets, in enclosed spaces or outdoor gatherings. The enclosed spaces will have a maximum capacity limit of five people/100 m².”

TAP Airlines, Portugal’s flagship carrier, resumed some international operations earlier this month, although flights to and from the European Union are still suspended until June 15. Spain’s border with Portugal will also remain closed until then.

A big part of resuming Portugal’s struggling tourism sector is the reopening of hotels and resorts. The NAU Hotels & Resorts hotel group announced that it will resume activity in the Algarve and Alentejo regions on May 31, reopening 10 hotels that had been closed due to the pandemic. Their occupancy, however, cannot exceed two-thirds.

Beaches in Portugal will reopen on June 6.

November has already been quite a month!

If facing a global pandemic was not enough for one year, November sees the protracted outcome of the US presidential elections, Brexit deadline looming closer and many parts of Europe re-entering lockdown or having travel restrictions imposed upon them. As a country as a whole Portugal is still battling Covid, however here in the Algarve life is continuing as normally as possible. Apart form the area of São Brás the levels of infection in the Algarve are low and life goes on – with the addition of masks, hand sanitiser and social distancing.

We understand that buying a property in the Algarve is still high on people’s lists of priorities. During the initial months of lockdown those of us lucky enough to already live in this beautiful part of the world were incredibly lucky to be in a country where spending time outside, yet still within our property was possible – the sun was shining, we had gardens to escape to and even pools to cool off and exercise in.

Many clients who come to us to buy a property say that outside space and the chance to enjoy outside living is one of their main, uncompromisable, priorities. And it is true, being able to sit in a garden, in the sun with a BBQ slowly heating up and the pool just meters away is a luxury that made living through Covid all that more possible.

You don’t have to look at buying a huge villa and spending millions to achieve this either. We have some super properties in the hills with gorgeous sea and country views that have ample outside space, townhouses in more central locations with their own garden and pool and apartments that have spacious balconies as well as access to communal gardens and pools.

If this year has taught us anything it is that the space that we live in plays a massive part in our positive mental health as well as our physical well being.

If you are looking to buy a property in the Algarve our team are at the end of the phone or email and are ready to assist you in finding your dream home in the sun. Get in touch with us today and make sure that your next move is to the sunny shores of the Algarve.