Low-Cost Renovation Project
Price: €17,000
Description: A typical stone house renovation project in a beautiful village with shops, schools and amenities.
Location: Macas Dona Maria, Alvaiazere
Reference No: 162
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Everyone’s definition of a bargain is different and in the current economic conditions more people are trying to find an ideal property at a very low price.
Let’s look at the options. Low cost property. These homes are normally in poor to bad condition and although the buy price is low the build or refurbishment cost may be high, or at least, higher that you might have expected. These properties also tend to be smaller and at the lower end of the price range. You should keep in mind that the ideal low cost property could be a little remote. This may be what you are looking for but there other factors to take into account, such as the two below:
1) Is there a council water supply nearby? If not what will it really cost to have one installed and how long will it take for the water company to arrange the installation? The only way of knowing is to request and official quotation from the local council. This may take weeks.
Courtyard House in Casalinho
Price: €60,000
Description: This double property is enclosed completely within its own perimeter walls, acting as wonderful Mediterranean courtyard.
Location: Casalinho, Miranda
Reference No: 153
2) Has the house got an existing electrical supply? If it has what level of power is it metered for. Old houses normally have very low power supplied to them as this is a way that the old owners saved money. Think of one light and a radio, this is a typical usage. You may or may not be able to have the power supply strength upgraded. Even if you have the power supply in the house renewed the power getting to the house particularly if it is remote may not be sufficient for your needs. The cost of increasing this “line” power is immense.
Of course, the many advantages with being the lucky buyer to find and snap up and undervalued property are obvious.
Casa do Ze
Price: €28,000
Description: Originally built around 100 years ago, this typical Portuguese home has been brought up to date with new structuring.
Location: Estrada Real, Miranda
Reference No: 149
Stay tuned for the next installment in our three part series about Bargain Properties in Central Portugal.
Tags: bargain, bargain house, bargain property, cheap house, cheap property, house, Property
April 30, 2009 at 6:56 pm
Can anyone tell me more about bore holes.
For instance how much water per day do you get from them.
Do the empty ?
if the house next door has one will he take my water supply?
Any more information would be good
Tnx
Barry
May 20, 2009 at 9:50 pm
Hi Barry,
Just heard that a new law requires everyone with a bore hole, pond, lake, well that they use to take water from must register it at the council office. You have until the end of May 2009 or there will be very large fines.
Scotty