Find the Summer Home of your dreams with this Step by Step Guide

A summer home, also known as a second home or weekend home, is an additional home usually used for leisure or vacation. With the acceleration of the telecommuting trend in the post-covid period, many have taken the opportunity to make this temporary home their main residence. After all, who wouldn't want to live in a kind of permanent holiday home, away from the stress and bustle of cities?

Establish Your Budget and Desired Location

Before embarking on the journey of looking for the ideal summer home, it is crucial to define your budget and desired location. Carefully calculate how much you are willing to invest and which region is most attractive for your new summer home. Take into account factors such as proximity to the beach, access to places of interest, ease of transportation and security in the region. These details will direct your search for the perfect summer home for you and your family.

Considering weather conditions and sun exposure is also key. Assess the degree of humidity, the temperature range and the number of sunny days in the year, to ensure your comfort and well-being.

Don't forget a very important factor: what is the appreciation potential of similar properties in that area? If you don't have access to search tools for properties sold in the area, ask for help from a specialized consultant. In Portugal, the real evolution of house prices between 2011 and 2021 was 4.1% per year and was above the OECD average (3.2 percent). Considering the average inflation during this decade of 1.1%, we have an annual net gain of 3%.

It is clear that during 2022 and 2023 the property appreciation rate was higher in almost all regions of the country, especially in urban and coastal areas, either because house prices rose more, or because inflation was also higher. In one way or another, real estate investment always turns out to be a winning bet, compared to other financial alternatives. But be sure to analyze this variable as you never know if you will have to sell the property and in this scenario you should not lose money.

Explore Available Options and Set Priorities

With the budget and location defined, the research phase of the available options begins. As you review each property, make a priority list. Consider the size of the house, the number of bedrooms and bathrooms, the existence of a swimming pool or outdoor leisure area, among other aspects that are important to you. This list will help you filter the options that best suit your lifestyle, optimizing your search time.

Schedule Visits and Perform a Detailed Property Inspection

Once you've selected homes that match your budget and needs, it's time to schedule visits for a thorough inspection of the properties. During the visit, pay attention to the state of conservation of the house, looking for structural or plumbing problems, as well as the care taken with the external area. Do not hesitate to question the real estate consultant, or the owner, and if possible take someone you trust with you to get a second opinion. The house must meet all of your expectations before moving forward with a purchase proposal.

• Search only on trusted sites. Start with the most important platforms (Idealista, Imovirtual, Supercasa and, if necessary, use the websites of the main real estate brands (eg https://www.kwportugal.pt )
• Be wary of advertisements in which the sale price is very inviting, that is, they are well below market value.Try to assess with the owner, or agency, the reason that justifies it and do not accept reasons that sound like "standard answers";
• Prioritize professional advertisers from credible agencies or consultants. Who pays the commission is the owner and the security of the process is greater, thus avoiding possible scams or "trapped" businesses;
• Select properties that show a lot of photographs or videos and virtual tours. When this does not happen, it is usually because the property has something to hide. You can always ask for more photographs of the interior of the house, in addition to those advertised, as well as other unpublished details;
• Never share personal data or bank details with anyone. There is no lack of situations of deceit in this activity;
• If you use a real estate agency or consultant, choose several options and ask to make several visits on the same day. If possible, set aside a weekend to visit.This is a process that can be exhausting and the more concentrated you are in time, the better it will be;

If the property needs interventions or improvement works, ask for one or more quotes and try to negotiate a discount based on that amount. Remember, some of the best deals are made this way.

Evaluate the Amenities and Services Available in the Area

As well as finding the perfect summer or vacation home, it is equally important to consider the amenities and services available in the surrounding area. Check the proximity of supermarkets, restaurants, pharmacies and hospitals, as well as leisure options such as beaches, parks and hiking trails. Also take into account the safety of the region and accessibility to public transport or main access roads. The location should satisfy all your needs and preferences before making the final purchase decision.

Review Financing Options and Proceed with a Proposal

Once you've found the ideal summer home, it's time to evaluate the financing options available, if necessary. Consult different financial institutions to find the best interest rate and payment terms. There are some real estate agencies that provide this type of service, which saves time and increases the chance of obtaining the best credit proposal.

Make sure you can afford the monthly installments without compromising your financial situation. With the financing approved, you can then make an offer to the homeowner. Make sure your offer is fair and based on an accurate valuation of the property. If the proposal is accepted, you are one step closer to realizing your dream of owning your summer home, whether as a second home on vacation or as a place to live.