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Buying a house to rehabilitate: Advantages

13 MAI 2022
Themen
Mercado Imobiliário Destaque Notícia Homepage Compra de Imóveis Comprar Casa em Portugal Reabilitação Urbana
It is more than proven that second-hand properties, dilapidated houses or land with building capacity will always be an unbeatable business. Learn about the advantages associated with this type of investment.
Buying a house to rehabilitate: Advantages
Investing in houses, apartments or land is still today, as it was in the past, the most interesting, safest and most profitable investment. This profitability is even greater in Northern Portugal, where purchase prices are much more competitive. Even in coastal cities, traditionally more expensive, such as Viana do Castelo, Póvoa de Varzim, Vila do Conde or Caminha, buying, renovating and selling is the best strategy for those looking to create assets and bet on effective sources of income.

In this sense, how is it possible to make a good investment in a time when the price of houses has been constantly increasing? On top of that, a recent study has shown that in the last ten years the supply of housing in Portugal is much lower than it seems. Between 2011 and 2021, the available stock of homes rose from 5.88 million to 5.96 million. In other words, in one decade, only 80 thousand more houses became available. And, of that universe, only a third concerns properties less than 20 years old.

Taken together, these factors do not pinch the real estate market in the slightest. On the contrary, they reinforce even more the potential and safety of the investment. As long as it is well thought out and well done, especially if it is an investment in renovation and rehabilitation. 

It's more than proven that second-hand properties, dilapidated houses or land with building capacity will always be an unbeatable business. The secret is in the location and the starting price. It will only depend on the purpose you set and the time you want to invest. 

There is nothing wrong with spending ten years rehabilitating a house, building it as you save. The important thing is to have the notion that having money stopped in the bank does not bring any profitability. 

Renovating a house: What to do first
The most important factor in a house to rehabilitate is exactly the same as in a house to live in: it is always the location that defines the initial price and future valuation. Therefore, start by deciding your radius.

Afterwards, analyze the property's condition and calculate what you are willing to spend in three fundamental areas for future valuation: architect, engineer, and construction company. 

Then, ask yourself how much the property may be worth in the future. A good professional can anticipate its value. 

Finally, establish your final goal: to put the house on the tourist market, to bet on a long term tenant, to resell with a good profit margin, or to keep the property for your and your family's enjoyment during weekends and vacations. 

Whatever the choice, you will always be richer at the end of the project than before: either you have gained a source of income, or you have gained an asset for a possible future transaction. 

Themen
Mercado Imobiliário Destaque Notícia Homepage Compra de Imóveis Comprar Casa em Portugal Reabilitação Urbana
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