Um casal sentado numa mesa em frente ao computador. A imagem visa representar a procura de casa

House hunting: Where to start?

Are you planning to buy a new house and have already gone to the bank to assess your financial capacity to move forward? If so, and you now have a pre-approved home loan, find out how to proceed in finding the right property in this article.

11 Aug 20236 min

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Step 1: Analyze your needs

In the search for the right and suitable home for you and your family, it is essential to take into account everyone's needs. Regarding the location, consider if you need an area close to your workplace, if it is near transportation and services, if you want a quiet and noise-free area, if you prioritize accessibility or quality of life, among others that may meet your family's needs.

As for the property features, you should consider how many bedrooms you need, the size of the rooms, the condition of the walls and floors, if you need a garage and/or balcony, and also your preference level, whether you want a more modern property or not. However, keep in mind that even an older property can always be renovated. If you choose a property in poor condition, usually the price is lower, so it may be worth it to do renovations.

Step 2: Define the geographic zone

Taking into account the analysis you made in the previous point, start by conducting a search to understand which geographic areas fully comply with the characteristics you want in your location, and which others could partially fulfill those characteristics.

For example, if one of the characteristics of the location was to be near the sea, in the Greater Lisbon area, Oeiras would be a location that would meet that criterion, but Porto Salvo would be a viable alternative if traveling by car is your main means of transportation.

Make a list of these areas in order of preference, so you can start scheduling visits to properties within those locations.

Step 3: Search for properties on online platforms.

The next step is to start accessing online platforms for buying and selling real estate, to see if there are any that meet the requirements you have defined.

On these platforms, you should start by delineating the areas you chose in the previous step, and then you can also include some needs you defined through search filters. For example, you can choose the number of rooms, apartment or house, whether or not it has a garage or balcony, among others.

This is an important step to know what currently exists in the real estate market, aligning your expectations realistically. This is because you may not even find a property that meets all your criteria. This can happen due to the lack of supply that has been observed in the real estate market, and the corresponding escalation of house prices. So, it may be necessary to readjust expectations and requirements you have set for the property you are looking for, in order to find what best meets the needs of the family.

Step 4: Make sure you have financial capacity.

To ensure you have the financial and negotiation capacity to proceed with visits to properties, you can consult a credit intermediary.

The credit intermediary consultants of Poupança no Minuto move forward with an analysis of your financing capacity, followed by pre-approvals of the loan with banks.

From there, you can move on to the next step and start looking for your new property, with the guarantee that you will be able to proceed with its purchase.

Step 5: Start contacts and schedule visits

The next step is based on starting visits to the properties that have met the criteria you defined. To do this, it is necessary to start contacting the sellers of the properties.

In order to observe the properties with greater precision, it is recommended that you do the visits during the day, in order to observe the natural light of the property. But you should also try to do, at least, one visit later in the day to observe the possible noise from neighbors.

During visits, you must pay attention to various aspects to avoid surprises. Observe the condition of the floor, walls, and make sure there is no visible humidity, for example. Note if there is sunlight on the property side, which can be a good factor to prevent humidity, as well as to save on electricity (you can naturally dry clothes).

Afterwards, question the property owners about any doubts you may have, such as the condo fee (if applicable), the services available in the area, or whether there is access to a garage or a terrace.

Step 6: Final selection and proposals

The final step is to make a list of properties that meet all your family's requirements. If you are undecided between more than one, try revisiting the properties until you have no doubts about the final choice. You can bring someone who can offer different perspectives to help with the decision.

Afterwards, proceed with a financial proposal to the seller, of the amount you have available to offer for the property. If the seller is willing to negotiate the value, you can propose a lower number. Once a final value is agreed upon by the property owner, the process begins. This starts with the Promise of Purchase and Sale Contract and ends with the house being registered.

Skip steps 2 to 6 by contacting professionals

The process of finding the perfect home for your family, and its financing, can be complex. It requires research, attention, and availability. That's why most Portuguese people choose to contact professionals in the field to follow and simplify the process, such as credit intermediaries and real estate consultants.

In addition to offering a free service, the credit intermediaries Poupança no Minuto are quick in their response and accurate. Therefore, you can start the process almost simultaneously with the search and visit to properties. This way, you will not miss out on negotiating your future dream home.

On par with credit intermediaries, you can also hire a real estate consultant, such as those from Casa no Minuto, who offer personalized support from day 1. In addition to researching properties that meet your criteria, they make contacts, schedule visits, and handle all negotiations with the seller. They also follow up on the process until the property deed, staying with you until you have the key to your new home in hand. Learn more at https://www.casanominuto.com/.

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