Buying a house on Madeira right now! It's an ordeal. Like, seriously a huge ordeal. There are so many pitfalls that I can easily understand how someone trying to navigate the process could easily end up in trouble by either ending up with a house with problems, or losing money on a 10% deposit. I'll be coming to Madeira on Dec 5th to sign the deed, and STILL. STILL. There are still documents to sort out. Signing is a week away. I've consulted 4 lawyers to get this through. I'd like to find a proper venue to document what we've had to do, and what we did wrong to help anyone in the future who is buying on Madeira specifically, but really anywhere in Portugal...
Goodluck on the house, the secret is a good reputable estate agency, you only lose your money if you change mind and no longer want the house, you will go to a notary who will read all contract in English and make sure all document are correct, what you need to check is the map of the land and make sure, that all land is all yours and belonging to someone else and all deed are corrected. .....remember to allow another 10% of the price of the house for tax and expenses.
you want a venue to document and publish your experience? Maybe just write it down and email it to this youtube channel and she can read it out with her own remarks
"but really anywhere in Portugal..." Don´t project your own experience on a whole country. Thousands of transactions on the property market per month, you really think that would happen if it was all so "complicated"? There´s really no that much difference from buying a house in Spain, France, Portugal, Italy etc.
Yes you are correct a Palheiro is basically a shed, you can not insure or rent legally, the habitation license is only required on property built after 1951, you can sell a property without an habitation license, to apply for a license in case the house doesn`t` have one is around 700 euros, according that house has not been extended or build without permission ........buy an old house under 120k is actually the best options, the annual tax are minimal around 0.2%, they usually build on Urban land so they can be knocked down and rebuild, but the best option is just restore, the license cost 60/80 euros and in certain area you can apply for vat reduction to 5% on all materials, sometime law here is complicated but life here worth every minutes.
Boas Festas ! anybody who wants to buy a house or a house in a plot should go to the city hall make an appointement with the local urbanismo technicien and ask if everything is ok with whatever property people want to buy. towards licensing the DECRETO LEI 10/2024 changed almost everything in terms of licences.
Many thanks for this advise, I have been looking for something suitable for almost 2 years now and properties within my price range (up to 150k) are almost all without any licence. It is strange because some of them appear to be occupied so I cannot understand why someone would live there without sorting out documents 😮
There’s a major housing shortage in Portugal, which has led some people to build or live in homes without habitation licences. In some cases, they’ve lived this way for years, hoping they won’t be forced to leave. If you’re moving to Portugal, I strongly recommend avoiding this. You don’t want to invest a substantial amount in a property that, on paper, is only worth the land it’s on, and in the worst case scenario, the council (Câmara) could order you to demolish it
I stumbled upon your video by accident, thank you for sharing, let me give you some more info. The simplex law actually aims to increase the housing supply in the Portuguese market, transactions, reduce costs, and inject dynamism into the real estate sector, however as you said in the video it does raise some concerns, mainly illegal constructions (they can be structurally well made but without approval from the municipal council it’s still considered illegal) making it almost impossible to get a mortgage loan and harder to resell if need be… Anyways I’ll gladly answer any questions you or viewers may have!
some laws sure sounds a lot like it is here in the states, with exception of realtors are required by law to be licensed . I've learned the hard way , I purchased land that I can't build on as of yet. Beautiful ocean view lot. Always get a building inspection, ask the local planning department regarding land use is a great start.
Thanks for that P 🙂 I never knew these facts about property so you've been good to inform us! I hope Phillipe got his ticks sorted in the end. Will you be resuming your vlogmas which was abandoned last year? Have a great December my dear 🤗
Wunderground maps show localized weather stations so you can check temps in diff parts of the island before going out.
I'll check it out. Thanks Sally
Buying a house on Madeira right now! It's an ordeal. Like, seriously a huge ordeal. There are so many pitfalls that I can easily understand how someone trying to navigate the process could easily end up in trouble by either ending up with a house with problems, or losing money on a 10% deposit. I'll be coming to Madeira on Dec 5th to sign the deed, and STILL. STILL. There are still documents to sort out. Signing is a week away. I've consulted 4 lawyers to get this through. I'd like to find a proper venue to document what we've had to do, and what we did wrong to help anyone in the future who is buying on Madeira specifically, but really anywhere in Portugal...
Goodluck on the house, the secret is a good reputable estate agency, you only lose your money if you change mind and no longer want the house, you will go to a notary who will read all contract in English and make sure all document are correct, what you need to check is the map of the land and make sure, that all land is all yours and belonging to someone else and all deed are corrected. .....remember to allow another 10% of the price of the house for tax and expenses.
you want a venue to document and publish your experience? Maybe just write it down and email it to this youtube channel and she can read it out with her own remarks
"but really anywhere in Portugal..."
Don´t project your own experience on a whole country. Thousands of transactions on the property market per month, you really think that would happen if it was all so "complicated"?
There´s really no that much difference from buying a house in Spain, France, Portugal, Italy etc.
@@ab-ym3bf Obviously I'm not saying all transactions go this way. Have you bought houses in all those places?
Two videos in a week!? Why are you spoiling us ☺️
👀
Yes you are correct a Palheiro is basically a shed, you can not insure or rent legally, the habitation license is only required on property built after 1951, you can sell a property without an habitation license, to apply for a license in case the house doesn`t` have one is around 700 euros, according that house has not been extended or build without permission ........buy an old house under 120k is actually the best options, the annual tax are minimal around 0.2%, they usually build on Urban land so they can be knocked down and rebuild, but the best option is just restore, the license cost 60/80 euros and in certain area you can apply for vat reduction to 5% on all materials, sometime law here is complicated but life here worth every minutes.
Boas Festas ! anybody who wants to buy a house or a house in a plot should go to the city hall make an appointement with the local urbanismo technicien and ask if everything is ok with whatever property people want to buy. towards licensing the DECRETO LEI 10/2024 changed almost everything in terms of licences.
Many thanks for this advise, I have been looking for something suitable for almost 2 years now and properties within my price range (up to 150k) are almost all without any licence. It is strange because some of them appear to be occupied so I cannot understand why someone would live there without sorting out documents 😮
There’s a major housing shortage in Portugal, which has led some people to build or live in homes without habitation licences. In some cases, they’ve lived this way for years, hoping they won’t be forced to leave. If you’re moving to Portugal, I strongly recommend avoiding this. You don’t want to invest a substantial amount in a property that, on paper, is only worth the land it’s on, and in the worst case scenario, the council (Câmara) could order you to demolish it
I stumbled upon your video by accident, thank you for sharing, let me give you some more info. The simplex law actually aims to increase the housing supply in the Portuguese market, transactions, reduce costs, and inject dynamism into the real estate sector, however as you said in the video it does raise some concerns, mainly illegal constructions (they can be structurally well made but without approval from the municipal council it’s still considered illegal) making it almost impossible to get a mortgage loan and harder to resell if need be… Anyways I’ll gladly answer any questions you or viewers may have!
some laws sure sounds a lot like it is here in the states, with exception of realtors are required by law to be licensed . I've learned the hard way , I purchased land that I can't build on as of yet. Beautiful ocean view lot. Always get a building inspection, ask the local planning department regarding land use is a great start.
Thanks for that P 🙂
I never knew these facts about property so you've been good to inform us!
I hope Phillipe got his ticks sorted in the end.
Will you be resuming your vlogmas which was abandoned last year?
Have a great December my dear 🤗
Check Phillipe's ears as they are favourite for tick's to feed and locate themselves.
@@RS-cp5wc checking them as we speak 😉
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