# If you could do it over again!



## pudding57 (Nov 6, 2010)

An idle question to people who have bought a property ....... - if you have bought 'the dream property', did the renovations and everything that goes with it, or bought from new...... do you now wish that, in hindsight, you have rather rented than go the whole hog? Nothing to do with the downturn in the economy, we all feel the pain but is there ever a feeling that it was just not worth the hassle and expense. Is it not easier to be the tenant rather than the owner?
Thanks people.


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## omostra06 (Sep 11, 2007)

I think the answer to that depends on what people bought, what they done to it, was it a successful renovation, did it sell, did they make any money!

Personaly i would always go for a wreck and restore it myself, done that in the uk and done ok, and also done it here, about to start on another soon.(when i get the time)

A lot depends on if you like restoring, or see it as a pain.
Financially its a great route to getting the house you want at around half the price, it also means you get it the way you want.

But, it can go wrong, buying a property in the wrong region/location can end in big problems, if you buy and restore in a location that is not popular then you may get stuck with it and not be able to sell, get it right and it can make you a very healthy profit.

here is one we done earlier


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## pudding57 (Nov 6, 2010)

My! Very impressive!! It is not so much the profit factor that I ponder about as the 'less hassle being a long-term tenant' issue - of course, there should be a willing lessor, willing lessee, which may not be that easy either and I imagine it would be very satisfying to create something unique (and judging from your piccies, almost from nothing). Does the end justify the sweat and tears or is the fact that one rents, and if circumstances change, one can walk away and there is not a problem trying to get rid of a property which one spent a lot of effort and funds on.


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## omostra06 (Sep 11, 2007)

pudding57 said:


> My! Very impressive!! It is not so much the profit factor that I ponder about as the 'less hassle being a long-term tenant' issue - of course, there should be a willing lessor, willing lessee, which may not be that easy either and I imagine it would be very satisfying to create something unique (and judging from your piccies, almost from nothing). Does the end justify the sweat and tears or is the fact that one rents, and if circumstances change, one can walk away and there is not a problem trying to get rid of a property which one spent a lot of effort and funds on.


Although I have said buying and renovating is a good way to get a nice house exactly the way you want it at under market value, for me i am comfortable with my locations and living here, been here 6 years or so now, 
however for anyone new to the country I always advise renting first before making the big decision to buy, taking the time to look around various locations and properties while renting is best, it avoids any pressure to buy quickly, this is where mistakes can happen. better to rent and take your time, at least that way you will know after a few months that you like a region, if not give notice on the rental and move on (or back) without any complications.

is it worth it?
well in some cases, 
But, I have met plenty of people (expats) selling their homes here for one reason or another, where they will be lucky to get the money they spent back! in other cases I have met people who bought then a few months later changed their minds and put the house back on the market to make a healthy profit for doing nothing to the house. 
of course this is all down to location and how well they done when buying the property and how careful they were with the renovation budget.
other people I know here make a excellent living from renovating property, selling it and doing it all again, (some make a lot more here than they ever did in the uk)
again its critical to get the right location and type of property, (some styles sell better/quicker than others)


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## deburto (May 18, 2009)

omostra06 said:


> Although I have said buying and renovating is a good way to get a nice house exactly the way you want it at under market value, for me i am comfortable with my locations and living here, been here 6 years or so now,
> however for anyone new to the country I always advise renting first before making the big decision to buy, taking the time to look around various locations and properties while renting is best, it avoids any pressure to buy quickly, this is where mistakes can happen. better to rent and take your time, at least that way you will know after a few months that you like a region, if not give notice on the rental and move on (or back) without any complications.
> 
> is it worth it?
> ...


We came out here with the intention of buying , but after many months of searching , and not being able to agree on a property, we decided to rent . we found a lovely little house at a very good price and we loveit . 
We may go back down the buying process in the future , but at the mo , we are enjoying being mortgage free, and hassle free, eg, there was a problem with the boiler this week , we just let the landlady know , end of my problem , no bill no hassle . We are lucky , our landlady is really nice , and we all get on well . may be a diffferent story if relations were difficult , but it suits us for now . 
I do find it strange sometimes , coming to terms with the fact that i dont have my own property, as I have always been a house owner ,but like I said it suits for now .


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## robc (Jul 17, 2008)

I think that it depends on the individual circumstances for all of us. 
We decided to buy a house in the Obidos area as we are both keen golfers and worked out that it would be cheaper for us to buy and run a house in Portugal as opposed to travelling over and staying in hotels and playing golf then.

The fact that we decided to have a house built did scupper the initial plan, that said we do end up with exactly what we want in terms of the accommodation, its layout and sizing, and this for us means a lot.

We are not looking for a financial gain if we decide at some point in the future that we should sell, (I would not turn one down though!!!!), for us our house in Portugal will be a second home, this again is very different from many other forum members. 

There is no right or wrong I guess, but I would suggest that hindsight whilst being a great learning tool can also be the most cruel of mistresses.


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## ferragudofan (Feb 12, 2011)

well we own in Portugal and currently rent in UK.. it's great renting as the above post states that when the boiler goes you just call the landlord.. but I Love our home in PT so much - if you rent you can't easily change anything and if you do any 'renovations' or 'additions' then it's ultimately not for you... every time I sit on our balcony I still get excited that this is 'ours' and it is such a magic feeling. We bought a 'new-ish' house and after five years the PT builder came back to check the house .. and made minor repairs "free" - settlement cracks nothing serious... can't imagine that happening on a UK NHBC warranty!!


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## pudding57 (Nov 6, 2010)

*Regrets etc.*



ferragudofan said:


> well we own in Portugal and currently rent in UK.. it's great renting as the above post states that when the boiler goes you just call the landlord.. but I Love our home in PT so much - if you rent you can't easily change anything and if you do any 'renovations' or 'additions' then it's ultimately not for you... every time I sit on our balcony I still get excited that this is 'ours' and it is such a magic feeling. We bought a 'new-ish' house and after five years the PT builder came back to check the house .. and made minor repairs "free" - settlement cracks nothing serious... can't imagine that happening on a UK NHBC warranty!!


Thanks to everyone who passed on their thoughts and experiences, once we get down there we will certainly enjoy the experience of explore, explore, explore!


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## Catherine M (Feb 12, 2011)

pudding57 said:


> An idle question to people who have bought a property ....... - if you have bought 'the dream property', did the renovations and everything that goes with it, or bought from new...... do you now wish that, in hindsight, you have rather rented than go the whole hog? Nothing to do with the downturn in the economy, we all feel the pain but is there ever a feeling that it was just not worth the hassle and expense. Is it not easier to be the tenant rather than the owner?
> Thanks people.


Glad to have bought a property - spent a little on renovations but I also know that it is my permanent home and I have no intention of moving. I am also an agent immobilier and I know that house prices in france are increasing slowly so if you have bought, then the chances are your property is already worth more, whereas renting means you are paying out with no return and I always think that renting feels less permanent than buying somewhere and putting down roots. Interesting question though.


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## Mr.Blueskies (Feb 24, 2009)

Hi Pudding 57,
Most interesting questions and extremely sensible of you to be asking them. I would say that it is most important to rent initially and perhaps even for one year, two or perhaps even three years. It does take this long to get a true impression and indication in my opinion before one can really 
be sure that it is both right and sensible for you to buy here ? Perhaps like Derek has said, some are lucky and can resell at a profit and quickly if they should next change their minds, but one can also end up with a house that does not resell and which one has invested a huge chunk of money in and particularly if one was a cash buyer. This can next seriously impact on ones new plans and ability to now move on successfully with things.

Even when everthing looks really good initially, ones situation can next change and for the worse. As an example of this, kids do not always settle well here and particularly older ones who may find the language and culture quite difficuly to come to terms with. One can also become bored after a time and once the honeymoon period has ended. In some cases 2-3 years here may be sufficient to keep one interested and after that ones initial interest can next wane (been there, done that already ) lol Also I have seen older people who retired here who unfortunately next lost a partner through previously unforeseen ill health and next found themselves here alone which was certainly something that they never considered or imagined when buying. I have also seen marriages fail here and in many cases because work that some imagined existed next failed to materialize. This usually next forces one person to return to the uk and usually the male partner (if kids are at school school ) to find work. These enforced seperations can and do cause marriages to break down and for people to also take up with others. I have seen ALL of these things happen here. 

Lot's of things need careful consideration which unfortunately a great many of us may fail to consider. Having said this, none of us can see into the future or know what the future is likely to bring. lol Perhaps this is all to the good.


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## pudding57 (Nov 6, 2010)

*Regrets etc*



Mr.Blueskies said:


> Hi
> Good thoughts and observations, this is why I wont make the mistake of selling up in the UK as anything may happen and, as you say, no-one in their twilight years wants to be alone and lonely in another country, however good a circle of friends one has acquired. Although we are sadly lacking in family members (only child, Scottish and South African connections) we only really know Cornwall.... the devil you know hey!! I was just a bit concerned too about some alleged ' funny business' happening to one of the Forum members who seems to be in a bit of a pickle about her MiL's Algarve apartment and which sounds like some fast footwork by new owners. This is the type of thing that bothers me a lot, at least here in the UK we have a fair idea of what can and cannot be done and hopefullly we have recourse to the legal system if we feel we are being taken for a ride.
> Also, our thoughts cannot but go back to the disappearance of that little girl and the treatment dished out to the family/friends by the powers-that-be. Are expats / foreigners more apt to be a target for rough justice than locals? Will they be cut some slack for a minor problem or transgression by authorities?
> Obviously none of us will go out of our way to do something we know we shouldn't. but it happens, and when it does, is there any sympathy because we just didnt know or it was a silly mistake?


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## Mr.Blueskies (Feb 24, 2009)

pudding57 said:


> Mr.Blueskies said:
> 
> 
> > Hi
> ...


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