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More ruins to admire

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DICEYUK View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote DICEYUK Quote  Post ReplyReply Direct Link To This Post Posted: 27/September/2013 at 15:46
There's a cream coloured villa on the opposite side of the road that's been up for sale for 4 or 5 years - the want 850,000 for it  LOL.
Can't see anyone buying that to live next to a building site and/or a ruin
I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote cubsur Quote  Post ReplyReply Direct Link To This Post Posted: 17/October/2013 at 08:55
A ruin that's slightly different. Not far from me is this old farmhouse. Someone has obviously tried to do it up in the not too recent past but didn't carry the project through. The main building is substantially intact but the outbuildings are in ruins. It's on just about the highest point in Páteo and has commanding views over the whole area.

If I had half a million quid...

More pictures later today.


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Post Options Post Options   Thanks (1) Thanks(1)   Quote cubsur Quote  Post ReplyReply Direct Link To This Post Posted: 01/November/2013 at 17:58
The Albufeira Crowne Plaza site from up on high taken 1st November

http://wp.me/p16mGY-wy
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MIA572 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MIA572 Quote  Post ReplyReply Direct Link To This Post Posted: 06/December/2013 at 18:41
We have fell in love with Albufeira and are now thinking of buying an apartment but reading the previous replies it does put you off. Has property started to sell or do you think the prices will keep dropping? Has any body bought and regretted it? 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Algarveaddick Quote  Post ReplyReply Direct Link To This Post Posted: 06/December/2013 at 18:52
I think prices have steadied and are now realistic for the most part. I don't see why anyone would regret buying if they do their homework properly and take sensible advice.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MIA572 Quote  Post ReplyReply Direct Link To This Post Posted: 06/December/2013 at 18:59
It is a big decision and i am sure that we will buy, just really trying to save a bigger deposit for now. I am keeping a close eye on properties in the Santa Eulalia area as that is where we like the best.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Irispad Quote  Post ReplyReply Direct Link To This Post Posted: 06/December/2013 at 21:47
Absolutely agree about taking proper advice,as for regretting it ... Best thing we ever did
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Post Options Post Options   Thanks (0) Thanks(0)   Quote J2me Quote  Post ReplyReply Direct Link To This Post Posted: 06/December/2013 at 22:05
Just some thoughts, intended to be encouragement, not punishment....

It seems that you know what you want. Refine that to one or two properties the next time you are there. You might not get these but it will be a learning curve anyway.

If you are using a Portuguese bank for a mortgage, get clarity on how much they are likely to advance to you based on THEIR valuation (your valuation or the sellers valuation are not what matters....). Select a lawyer you can trust and FIX the fees, no extras. Once the approximate purchase price is known, the extra costs (and there are quiet a few) will be easily calculated. Think about getting the lawyer to include a low cost 'will' at the same time.

Ensure that the property taxes and future utility bills will be sent to you on-line and paid by DD from your Portuguese. Then enjoy......... Simples.

BTW, there is lots of proper advice available on various forums, much better than my rattling on...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MIA572 Quote  Post ReplyReply Direct Link To This Post Posted: 07/December/2013 at 08:11
We do have two places in mind Quinta pedra dos biscos and parque da cocorvada, love the location of pedra dos biscos. Very helpful advice j2me thankyou, can you tell me the forums you refer too please. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote J2me Quote  Post ReplyReply Direct Link To This Post Posted: 07/December/2013 at 13:15
I suggest you look at this one first:

http://www.expatfocuscom/expatriate-forums-portugal

As we are kind of limited regarding the posting of links (for good reason), I ensured that the above is not a link because I removed the . just before the com. Simply copy the string of text I put above this paragraph, paste it into your browser address bar and ensure you add the dot in the right place to make it work. Lots of sound advice in there.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote DICEYUK Quote  Post ReplyReply Direct Link To This Post Posted: 07/December/2013 at 20:40
Best thing we ever did. Absolutely no regrets at all. Just go for it.
If you don't you might end up regretting it forever.
I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote gerry Quote  Post ReplyReply Direct Link To This Post Posted: 08/December/2013 at 00:53
Great advice JT2m you say it all in a nutshell can I just add if there is anything you don't understand fully ask and ask again until you do, we have some apartments in Corcovada and can recommend the condo, it has won TripAdvisor no.1 condo in Albufeira for the last 2 years also I think there are other condos equally as good, good luck in your search and enjoy.
G.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MIA572 Quote  Post ReplyReply Direct Link To This Post Posted: 08/December/2013 at 08:39
Hi Gerry, do you rent them out or keep for your own use only? My husband wants to be able to keep for our own use only but let friends and family use, i am thinking if we rent out will help with the finances. We could remortgage here to have the funds to buy, but only have 3 years left on current mortgage so would be better saving 30 per cent deposit then getting additional mortgage to buy in Albufeira i think?? My luck prices will then increase. Job to know what the best option is.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Irispad Quote  Post ReplyReply Direct Link To This Post Posted: 08/December/2013 at 11:15
I think it all depends on your personal circumstances.When we bought we had very good advice from a number of different sources....as for renting out,if it is to be your 'home from home' chances are you'll not want to put it on the holiday rentals market. We took the view that if we could not afford to pay for it without renting out we wouldn't bother,although family and friends are welcome.You'll love it and wish you'd done it years ago!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote J2me Quote  Post ReplyReply Direct Link To This Post Posted: 08/December/2013 at 14:42
The question that you need to ask yourselves is simple - is this an investment or is it for pleasure.

If it for pleasure, end of story. Take your time. Select the cheapest source of finance (the lowest interest rate), be that UK or Portugal. Simply put, this is an almost hassle free strategy and an ideal solution for many. If you can afford this approach, it is only a question of how much you can afford. The selection of a property will be the result of trade-offs (location, condition and size being the obvious concerns).

If it is for investment, there are two returns possible. The first is income. The best you can realistically hope for here is to subsidise the cost of investment. However, that subsidy will possibly allow you to purchase a more desirable property which you would not otherwise achieve. There will be little or no 'profit' for several years because there is so much competition for that business in Albufeira. Just look around and you to see the situation. At the same time, there are lots of holidaymakers. Think of 'supply and demand'. Think about what the holiday maker actually wants and is willing to pay for.

The second return will arise from capital appreciation (the rising value of the property, assuming there is a rise in value). You will not achieve this until you sell the property, and for most people, that is not their plan in the first place. If this is your strategy, then think 'location, location, location'.

Just some last words to motivate you - 'Dream'. Hopefully this helps to build the encouragement you need to put more effort into making your dream come true.
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