Rehabilitate or Renovate

In recent years there have been numerous real estate rehabilitation projects that have appeared widely from north to south of the country especially in the centre of cities.

The majority of these rehabilitation projects are praiseworthy.

 I said “the majority” because unfortunately numerous owners either private or corporate, often carry out alleged “rehabilitation” operations when in reality what they do is just a “face wash” of the property, leaving it with a beautiful exterior but with the same structure, and, in reality the building cannot offer safe conditions for their future residents because structurally it might not have been subjected to any profound rehabilitation.

An example of that unhappy reality is the frequent use of materials and equipment with specifications, weight and size that are incompatible with the already weak structure of the building which can make this property a true time bomb.

In fact, to talk about rehabilitation seriously is to make a systematic, structural and thorough analysis of the building and to consider either the rehabilitation or a renovation operation that should, in case that building does not offer security conditions, go through its demolition and new construction.

Managing the real estate of a city, with dignity, doesn’t always require rehabilitation. With the real estate pressure of the 1980s, cities underwent major changes and many of the real estate operations were true attacks on the city.

Rehabilitating these buildings may be more detrimental to the city than taking advantage of the buildings’ lifespan to end their demolition and making them more sustainable buildings from the point of view of the materials used and from the point of view of energy management.

To renew the city is to think of the people.

Managing the city space is creating conditions to receive families with dignity.

Therefore, we should not, blindly and at all costs, opt for rehabilitation but make a real balancing exercise between rehabilitation and renewal.

Rehabilitating or renewing should not be enemies but go hand in hand like two sisters walking side by side with one common goal: to welcome families who work in the city, stroll in the city, shop in the city, have fun in the city and can return at the end of the day to their safe, efficient and comfortable dwellings.

At Metathesis, every project is considered to have a correct assessment and choice between rehabilitation of the building or, on the contrary, to undertake a property renovation operation because this is believed to be the obligation of a responsible real estate developer.

Metathesis is recruiting

We are looking for a newly licensed civil engº for a paid internship with the possibility of later being integrated into the company's management.

Skills:

Bachelor's degree;

Computer knowledge of Excel, Word and Powerpoint, Autocad, image and video editing and 3D;

The offer is made in conjunction with almada's IEFP (Setúbal);

Workplace: Almada;

Date of integration in the internship: Start is expected until March 2020 (or to be negotiated);

Internship period: 9 months;

Working hours: From 09:00 to 18:00 With lunch period from 13:00 to 14:00H;

Remuneration compatible with academic degree: Level 6 or 7;

 Sending applications to email: recrutamento@metathesis.pt

Phone: 212 841 953

How to Plan the Purchase of your next house

Buying a house is one of the moments that causes greater stress to a individual or a family not only for the complexity of the act itself but also of all the implications of moving.

Therefore, as in all processes, in order to minimise this stress, you should plan that act as you plan, for example, your holiday.

1. Set a Maximum Budget

The first thing you should do is think of a maximum budget for the purchase and what sources of capital you will turn to. That is, how much money do you have and how much you want to borrow from the bank.

To get you started, you can start by making a simulation of a purchase on one of the websites of the various national banks.

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

2. Define the Area and Typology of the Property

Once you understood the amounts involved you should define the area or areas where you want to make the acquisition as well as the typology that will be more appropriate. Then validate whether the values you have in mind fit the area. To do this, it will be enough to search the online pages of real estate sales.

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

3. List aspects that you value the most in a property

List a set of aspects that values and may have influence on the purchase decision, such as being a house with a backyard, or a house overlooking the sea, or an apartment with Energy Certificate class B (minimum), or even being close to a Metro station.

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

This may be useful in deciding rationally what the product that best serves you.

4. Don’t rush!

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

We advise you not to visit more than 3 properties at a time.

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

For more information see our item: 5 aspects to consider when buying a house

Buying or Renting

One of the questions that young people often ask is regarding the most appropriate choice between buying or renting a house.

The answer is not easy as it depends on each situation. But our advice is usually based on common sense.

And common sense tells you that for a young person who has recently started their career, the ideal is to minimize the risk of getting a loan and being “stuck” to a property.

At the beginning of life, various situations may arise that may increase the risk of buying: involuntary unemployment or, on the contrary, a new long-term employment opportunity, distant from the place where the house is situated, family growth or even a hasty purchase that turned out to be a bad choice due to inexperience in negotiating or choosing the most appropriate product.

If the decision has been “to buy”, this youngster is “chained” to a product. You have, usually a bank debt, you may be paying IMI, you have to pay a condominium fee.

Imagine a young person who bought a house in Lisbon, but he got promoted and is now going to work in Setubal: he already has all these expenses, he has now to pay for a daily train to work, when, if he had decided to rent an apartment, he could had simply find another home, closer to his new office.

Therefore, our advice is, if you just started your life, chose to rent property, over buying.

After this period, it will be a personal option.

Of course, buying a home can not only be seen as buying a place to use, but also as a long-term investment. Property is a safe investment, when it is a well considered purchase either in terms of the property itself or in a money wise investment (how much from on own savings, what is the bank debt, what is the commercial value of the property, what are the  general conditions of the house  and  its location). Only if the combination of all these variables has been correctly done you can call it a “safe investment”. ~

We hope this article has been helpful.

If you are interested in buying we recommend you to read our article: “5 aspects to consider when buying a house”.

Isabel Dias Rodrigues (CEO of Metathesis)

5 aspects to consider when buying a house

Many people turn to me to ask what is most important when buying a house.

The answer is not simple, for buying a house is without a doubt, one of the most important moments in someone’s life whether it is a single purchase or for two.

1. Location

First things first, you should define the city where you intend to spend your next few years. Keep in mind the accessibility of public transportation in the area because its use can be a substantial help for the family.

Value the presence of utilities and trading in the area for it will save time to you and your family.

If you’re thinking of establishing a family in short or mid-term, or if you already have children, make sure to explore the proximity to a school network and support services such as kindergartens, study halls, etc.

2. Budget

Secondly you should define a maximum budget that you’re willing  to pay for the property and this by considering how much you have available through your own capital and the maximum amount you want to borrow as a bank loan

Do not forget to enter the amounts that you will have to spend with the other costs of the purchase of housing which are the amounts to pay for the notary act (Deed, records, etc.) and also the respective taxes.

Choosing the partner bank in case of a loan for the purchase is a key aspect. Remember that in doing so you choose a life partner since most loans have durations between 20 and 40 years. Usually the bank you work with will surely give you the best conditions but this is not always the case. See at least 3 institutions and ask for simulations.

Choosing a credible mediator whom you consider suitable is also an extremely important step. Unfortunately, there are unpleasant experiences that are often the result of the mediator’s lack of experience but which, in the end, always have direct consequences for the buyer. A mediator should be knowledgeable about the market but also about the legal aspects and above all, should be a very serious person who safeguards his interests at the time of purchase.

3. Property documentation

Before purchase ask for access to the documentation of the Property:

  • “Certificação Permanente” that must be less than 6 months where you will check if there are liens in the property as well as its areas ;
  • “Certificação de Áreas” requested in the assembly which will confirm the areas of the property especially when there are patio or backyards;
  • “Caderneta Predial” obtained in “Finanças”

Beforehand ask for an issue of debt or commitment statement from the condominium. Don’t forget that debts to the condo come with the fraction, in other words, they’re the only debts that if not paid by the previous owner, could be paid by you.

4. General state of the Household

If you choose to purchase a used house, you should take into account the general state of the house

Make sure to verify aspects as:

  • Outlets – loose outlets may suggest a bad condition of the general electric system of the house;
  •  Taps – do they drip, shake? Check the water meter as it can confirm the condition of the pipes;
  • Walls – signs of moisture that may be a sign of seepage;
  • Gas (special attention to this theme);

Windows – one of the most important aspects of a home because a good window represents a big saving in energy consumption for heating. If the house has been recently remodelled the care must be the same because, unfortunately, there are countless unscrupulous companies. who sell renovations that result in very beautiful houses on the outside that are sometimes true mousetraps

5. Insurance

Take into account the insurance values ​​because they usually have a large weight in the monthly installment. There are many variations from bank to bank. If you are not satisfied with the proposed values, consult an insurance company as you may be able to better manage the insurance value. Anyway, remember that home buying will be the time when you will spend the largest financial amount in your entire life. Is it worth considering this act carefully, evaluating each of the parties in advance? Or will you make a thoughtless purchase without safeguarding that is well surrounded by everyone involved: bank, insurance company, mediator?