Oh my goodness, I have just stumbled upon your blog. I could spend days or weeks here! Thank you for these thoughtful posts. I am still in research mode, deciding on whether or not to make the move to Portugal, and your blog is so informative! Thank you so much! I've got to stop for today, even though I don't want to! But I'll be back.
Hi Nancy. This was another great post. You're correct - Mary and I do agree with you about living somewhere for a while before putting down roots. We're looking forward to experiencing life in Lisbon, Cascais, and probably several other places before doing anything "permanent". And your description of selling a home in the US recently is spot on. It mirrored our experience right down to popping the champagne. But even though we sold above asking price, we only broke even because we'd put too much money into a big remodeling project. (Some people pour money into cars or boats. We put ours in the house.) We've never made a profit on a home sale, but usually broke even, so I've stopped thinking about owning a home as an investment. Perhaps, like Scott, we could use it as a hedge against currency fluctuations, but we're still undecided about whether we'll ever buy again. Thanks for providing some insight into the Portuguese property market.
Rational? Who wants to be rational?! One compelling reason for me to consider buying is a fear (not sure it's rational) that the dollar value will plummet in relation to the euro. By buying something ahead of that potential crash, I secure the most significant part of my living expense. But I want to be pretty dang sure that my chosen place to set down roots is a great one so like others, I plan to rent for the first year. I also (I'm a Gemini) subscribe to the theory that objects at rest tend to stay at rest. Once I'm settled in my rental, that could be it.
Nancy I really enjoy your blogs. My husband and I have traveled Portugal for the past almost three months we are working on starting a business here and settling on Cascais ... we will rent initially and are working with a fabulous attorney, deciding on an accountant and need a realtor... hoping you would share a recommendation for one in the area to help us find a rental. Thank you!
This is so spot on Nancy. Such valuable insight that each expat needs to think about. Also, when buying the taxes are high (6-8%) plus lawyer fees of roughly 1%. So on a 300,000 euro property, property cost basis could put you at 325,000 euros.
Yes, the visitor visa is 3 months. The D7 (retirement) visa is for four with the assumption that you will complete the SEF process and become a temporary resident during that time.
Oh my goodness, I have just stumbled upon your blog. I could spend days or weeks here! Thank you for these thoughtful posts. I am still in research mode, deciding on whether or not to make the move to Portugal, and your blog is so informative! Thank you so much! I've got to stop for today, even though I don't want to! But I'll be back.
Thank you for your kind comments. If you have any questions don’t hesitate to contact me at any time.
Thanks, Nancy!
Hi Nancy. This was another great post. You're correct - Mary and I do agree with you about living somewhere for a while before putting down roots. We're looking forward to experiencing life in Lisbon, Cascais, and probably several other places before doing anything "permanent". And your description of selling a home in the US recently is spot on. It mirrored our experience right down to popping the champagne. But even though we sold above asking price, we only broke even because we'd put too much money into a big remodeling project. (Some people pour money into cars or boats. We put ours in the house.) We've never made a profit on a home sale, but usually broke even, so I've stopped thinking about owning a home as an investment. Perhaps, like Scott, we could use it as a hedge against currency fluctuations, but we're still undecided about whether we'll ever buy again. Thanks for providing some insight into the Portuguese property market.
Rational? Who wants to be rational?! One compelling reason for me to consider buying is a fear (not sure it's rational) that the dollar value will plummet in relation to the euro. By buying something ahead of that potential crash, I secure the most significant part of my living expense. But I want to be pretty dang sure that my chosen place to set down roots is a great one so like others, I plan to rent for the first year. I also (I'm a Gemini) subscribe to the theory that objects at rest tend to stay at rest. Once I'm settled in my rental, that could be it.
I watch the USD-Euro forecast more than I should. There are ups and downs projected. Good to have enough money in euros to withstand the variation.
Nancy I really enjoy your blogs. My husband and I have traveled Portugal for the past almost three months we are working on starting a business here and settling on Cascais ... we will rent initially and are working with a fabulous attorney, deciding on an accountant and need a realtor... hoping you would share a recommendation for one in the area to help us find a rental. Thank you!
This is so spot on Nancy. Such valuable insight that each expat needs to think about. Also, when buying the taxes are high (6-8%) plus lawyer fees of roughly 1%. So on a 300,000 euro property, property cost basis could put you at 325,000 euros.
Does the Buyer also pay the 5% realtor fee?
No, but there are fees including taxes, attorney fees, etc.
No. Seller does.
Isn’t 4months overstaying the visitor visa?
Yes, the visitor visa is 3 months. The D7 (retirement) visa is for four with the assumption that you will complete the SEF process and become a temporary resident during that time.