Build, Renovate, Invest in Portugal?
The construction in Portugal, whether of a dwelling, Hotel, Allotment, Factory or a simple Warehouse is a complicated process, full of bureaucracy and often time-consuming.
When buying a land for construction begins a set of bureaucracies that includes the treatment of papers in notaries, conservatories and finances. This when, at best, there is no need for bank financing.
In order to be built, the Municipal Councils must verify and give their approval to a construction project that must be signed by those responsible for this.
At the end of each work the Municipal Chamber must issue a license to use.
Buying a Renovated or a Newly Renovated House?
Before deciding between buying a renovated or a non-renovated house you should consider the advantages and disadvantages of each, consider if the investment you intend to make is worthwhile, when and how you intend to make use of the investment.
When choosing a house to renovate:
Advantages
- Lower initial investment
- Personalization at your convenience
- Choice of construction materials
- Choice of finishes and furniture
Disadvantages
- Construction costs may be higher than budgeted
- Professionals should be chosen with caution
- The end works may be longer than planned
- Licensing
- Bad choice and application of materials
When choosing a renovate house:
Advantages
- Ready to live in or monetize
- No worries with building or painting
- No worries with licensing
- Turnkey
Disadvantages
- Higher initial investment
- No possibility of choosing the finishes
- Water and energy efficiency, as well as acoustic insulation, may not correspond to the ideal
Build, buy new or renovate?
Build, buy new or an older house to renovate, what is the best option in Portugal?
There are advantages and disadvantages in each solution:
1 - Build
Advantages
- The choice is always yours
- Traditional house option (concrete and brick)
- Choice of modular houses (cheaper than traditional)
- Option of prefabricated houses (cheaper than traditional)
- Choice for mixed house (concrete, brick and alternative materials such as wood or PVC obtaining a cheaper solution than the traditional)
- The composition/design of the house as it pleases you
- Location is your choice
- The quality of the materials is your choice (depends on your budget)
- The quality of the finishes depends on you if you want to control the work
- Cost control and tailored planning
Disadvantages
- Extra precaution in the search and purchase he land for construction
- Bureaucracies, both in the purchase of the land, as in the necessary permits to build
- Lengthy process, it may take more than two years
- Personal involvement, decisions and personal choices
- Choice of correct and honest professionals, may be a cause of stress
- When professionals, design and construction, are not honest and correct can be subject to high stress
- Changes may lead to slippage in the management and planning of the works
New house ready
Advantages
- Choice of location and what market has to offer you
- No planning, no major personal involvement
- Quickly has turnkey
- Less bureaucratic
Disadvantages
- Limitation to the existing market/desired area
- Request for changes in materials or layout of the interior leads to slippage in the management of the budget
- No possibility to change the exterior
- Impossibility of verifying the quality of materials and the execution of construction
Old house to renovate
Advantages
- Choice of location and what market has to offer you
- Interior remodeling does not require licensing approval
- Planning and personal management
- Less bureaucratic
- The quality of the materials is your choice (depends on your budget)
Disadvantages
- Limitation to the existing market/desired area
- When not evaluated by a specialist it may cause high stress
- Changes may lead to slippage in the management and planning of the works
- When not the professionals, design and construction, are not serious and correct can be subject to great stress
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