home purchase – how to plan?

Buying a home is one of the most stressful times for an individual or a family, not only because of the enormous complexity of the act itself, but also because of all the implications of moving. In this article we help you plan your home purchase.

Therefore, as in all processes, to minimize this stress, you should plan this act just as you plan, for example, your vacations.

Detail your budget

The first thing you should do is to think about a maximum budget for the purchase and which sources of capital you will use. In other words, how much equity do you have available and how much do you want to borrow from the bank.

To get an initial notion, you can start by simulating a purchase on one of the websites of the various national banks.

In this simulation you will have a notion of all the amounts involved, but do not take these values for granted because they may vary depending on your relationship and involvement with the bank, the value of the property, associated taxes, etc.

After you understand the amounts involved you must define the area or areas where you intend to make the acquisition as well as the most adequate typology. Validate, next, if the values you have in mind fit the area. To do so, simply conduct a search in the online property sales pages.

That is, if your limit is 150 000 euros and the area you want is Cacilhas in Almada municipality you can verify that it will be possible to buy a type T1, T2 or even T3.

Start the search

List a number of aspects that you value and that can influence your decision to buy, such as, for example, being a house with a yard, or a house with a sea view, or an apartment with Energy Certificate class B (minimum), or being close to a subway station.

Make a value scale so that you can rate each of these characteristics in the properties you visit.

This can be helpful in rationally deciding which product suits you best.

Plan a target date for buying the property but don’t think about too short a time frame as this may precipitate a bad purchase choice. Decide which days and times you have available for scheduling visits and share this schedule with one or two people you trust so that they can accompany you in this search.

We advise you to look at no more than 3 properties at a time.

Start looking but don’t rush into a first purchase.

For more information see our article:

What to watch out for when buying a house