My Cost Breakdown of Home Ownership and Renting In Foz do Arelho & Caldas Da Rainha Portugal

Happy Friday everyone!

Are you torn between renting or buying a home in Portugal?

When my family and I first moved to Portugal, I followed the recommendations made by everyone and rented our first place. It gave us the time to figure out a few things.

First, we had the time to decide if we even liked the area/city. It seems like the majority of us have either visited Portugal on a one or two week scouting trip before moving or tons have just up and moved without even visiting the country! By renting, it gives you the time to get a good feel of the area without locking you down into a long term commitment of purchasing a home.

Second, it gave us time to find the perfect home to purchase. Finding the right home is already hard enough in your native country let alone in a foreign one! Homes here aren't the same as the homes back in the States or wherever you come from. There were things that we needed to look for that I would have never thought about back in the States such as mold issues or structural damage. Home inspections aren't widely common here in Portugal and even though I had one done, it was not nearly as thorough as they are back in the States. Not to mention, they are not cheap either! I paid twice as much here in Portugal for a very mediocre job.

Lastly, it just gave us flexibility. Buying a home is a very permanent thing. Ok, yes, buying a home doesn't mean you're stuck with it forever, but it's not something that you can just up and pack your bag once your year long lease has ended. Once you buy a home, you, of course, can sell it, but it may take weeks, months or even years to sell a home. Not necessarily an ideal situation for some people.

Ok ok, I'm not here trying to persuade you to rent. Obviously, I purchased and didn't continue to rent.

As you can watch from my video, the price of renting versus buying are practically the same thing. Yes, you can find a cheaper place to rent, but you can also find a cheaper place to buy. There are so many pros and cons that one person can make. So it's best for you to sit down with your family to decide which path works best for you.

See you in the next video 📹

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ABOUT US:

Hi! My name is Josie. My husband and three kids decided to move to the Silver Coast of Portugal after living in the United States for our entire life. Follow us as we discover the amazing region of the Silver Coast.Hope you enjoy our journey.

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