Choose a credit that fits your pocket, defining right away the maximum amount to invest according to your financial situation; for this initial phase, we suggest that you get advice from your bank.
For a first approach to the subject, this simulator guides you through what you initially need to know. All you have to do is indicate the total amount owed, the interest rate (spread and euribor) and the number of installments to be paid.
For the location of your property, always take into account the following points:
Accessibility (road, public transport);
Distance to your workplace;
Proximity to public services;
Proximity to schools, hospitals, banks, medium/large stores, etc;
Solar orientation (if you benefit from natural light, you will have weight on your energy bill);
Cost of water in the municipality (the cost/m3 varies from municipality to municipality);
Green and leisure areas in the surroundings;
IMI assigned to the municipality where you will buy the house;
STATE OF THE PROPERTY
After defining the amount to invest, start by doing a small market study, surveying the average price of houses in the area you are looking for. The probability of finding a considerable range of values in this survey may be due to factors such as: – solar orientation, areas, proximity to services, access, quality of finishes, etc.
If you choose a new property, you will enjoy a 5-year warranty, in accordance with Decree-Law 84/2021, of October 18. The market solidity of the selling entity is paramount to avoid unpleasant surprises when it comes time to activate your guarantee.
In the case of the option falling for a used property, whether it is a renovation or a property to be rehabilitated, care should be increased by recourse to a qualified professional. This resource will allow you, for example, to understand the property’s degree of preservation, as well as to become acquainted (through due diligence performed by the referred professional) with the legal documentation relating to the property (architectural and specialty projects, building/use permit, energy certificates, etc.).
SUSTAINABILITY AND ENERGY EFFICIENCY
“New buildings should be buildings with almost zero energy needs.” – Decree-Law No. 101-D/2020 of December 7, 2020
Properties are classified energetically on a scale of 8 levels: A+, A, B, B-, C, D, E and F. Properties classified with “A+” and “A” mean high energy performance and indoor comfort, while decreasing the value of your energy bill.
Examples of energy efficiency in buildings are charging electric vehicles, the use of solar panels for heating sanitary water, hot water recirculation which, in practical terms, eliminates the waiting time for hot water when opening the tap and the regular need to reheat it, etc.
It is very important that you check all the documentation for your future property before proceeding with the purchase process.
Imolimit advises you to verify that the real estate agent accompanying you has an AMI license and, as such, has the legitimacy to perform his duties. In addition, check if there are any liens, mortgages or usufructs associated with the house, or even debts associated with the condominium in question.
Also try to understand from the City Hall and by analyzing the house’s blueprint, if the property is fully legalized or if there are areas built without authorization. For the second scenario, expect extra costs for licensing or, in a more serious scenario, demolition.
Finally, make sure you have in your possession all the documents that identify the property for the deed. Among the mandatory documents are the following: Energy certificate, Land Registry Certificate, Caderneta Predial Urbana, Ficha Técnica da Habitação, Alvará de Utilização and Proof of Right of Preference, if applicable”.
Choose an Imolimit property! We help you throughout this process!