Hi everybody, I'm in central Algarve renting for 2 long years.
Seen way over 100 houses. Estate Agents are unnecessarily difficult in this country. If they only had the exact location and proper photos & floor plans would have saved most visits.
So the "dream house" is 800 meters from sea, great views, large and modern with 3030m2 plot. After some haggling, they accepted my offer at a great 250k discount.
There are some buts:
I found out the pool is illegal, the seller after 2 months (slow lawyers) negotiations agreed to legalize it and keep 50k of the house price in escrow for 2 years in case it fails.
The plot is not clearly marked, looks smaller than the quoted size, so it needs topographic survey, and worse the septic tank has an "overflow run off pipe" at the end of the property and has never been emptied (they didn't even know where it is) in 19 years. When it rained, the drains in the sinks smelled a bit! 😀
The house is split in 6 rental apartments, most with a living room & kitchenette. So it needs work to combine into 1 great property.
I'm ready to sign, but talked to some builders and they gave high prices of 300k or so.
The house is newish for British standards, from the 1990s. Needs all new windows etc.
My questions please if you're still with me:
1. Does a less than 30 year old house really need new water pipes throughout? Why? (Nobody looked at the pipes, just based on age). In England they are copper and last 50+ years easy.
The house is an active rental house (5000 euros a week) without any visible problems. Had a survey done.
2. Should I hire multiple builders, each for a specific job or 2, so it can be done faster and with more control (like I would definitely do in England with multiple different builders working and being booked in for different jobs), or follow my lawyers advice and get 1 big company with contracts and delivery dates etc and higher fees and not much control on this complicated project?