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fixer up house Aljezur, good idea?

Posted: Mon Dec 18, 2023 8:30pm
1 reply2 members subscribed
Claire

Posts: 1

Location: Aljezur

Joined: 18 Dec 2023

Hello, 

We would like to buy a house in Aljezur for approximately 150k. as a fixer upper. Then spend another 50k to fix it up. 
At the same time we would like to enjoy our year (on our savings) without working another job. And after a year, maybe sell the house. 

I'm curious what you all think about this idea, do you have any experience doing anything like this? Do you know people or hear people doning things like this? Do you have any knowledge about the little village Aljezur?

A place nearby Aljezur is also fine, we also like Caveiro. We're are looking for a small village that will give us a nice year to stay aswell as a good place to spend our money on a little house. 

An example: Vrijstaande woning te koop Aljezur, Aljezur — idealista

I look forward to your reactions. 

Claire and Jan 

Ian28

Posted: Sun Dec 24, 2023 4:09pm

Posts: 41

11 helpful points

Location: Salir

Joined: 20 Nov 2020

Posted: Sun Dec 24, 2023 4:09pm

Hi Claire and Jan,

Be sure to check your numbers!

I am not sure rural Portugal is the place to make a quick buck :-(.

Look at the T2s in your area selling around 300k - most have multiple agents trying to sell them and some have dropped their prices.

You will for sure have a fun year fixing up a house there, but as a planned money earner, I suggest looking closer to the beaches ( these seem easier to sell )

I have a house in Salir, I have been slowly working on it for 2 years ( forced to buy earlier than planned due to Brexit, then unable to be there to work on it due to covid and travel restrictions).

I officially emigrate to Portugal on Dec 29th and start my retirement there in January, so the house is for me to live in. It's is value not important for many years ( I hope ;-) ).

I doubt I would make a profit if I tried to sell it now.

I hope this helps.

Ian

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