I Bought my First Home in Portugal - Here’s What I learned
A Little About Me
I am a single 45-year old woman living in Portugal for the past 4 years.
How I got here was a little unconventional but after living in Europe for 10 years haivng moved ALOT. Three countries, 5 cities to be exact, I have decided to put my money here in Portugal. And to be really transparent, when I began 2026, buying a house was definitely not on my bucket list.
The issue was I loved my apartment. It was my first real apartment since leaving Australia 10 years ago. I had been living in furnished rentals and this was the first step to feeling like settling in a place by actually renting an empty place. I really did enjoy the place. I hosted dinners and parties when I could and so many friends and family travelled here from all over the world. So cut to living and enjoying a space for so long but then having the rug literally pulled out from under me. I talked to friends who had recently bought and had similar experiences of uncertainty and the option started growing on me. You need to find a long term solution started playing on repeat in my head.
Why I Decided to Buy Instead of Rent
In early February 2026, my landlord decided after nearly 4 years living in my rental apartment never really making a fuss about the issues in the house, I was not a ‘good tenant’ and since the rent seemed to increase each year (this year the increase was 8%). In addition, the government of Portugal just updated their pathway to citzenship from five to ten years, so it meant really putting down roots. So with all that in mind and hearing rentals were harder to come by in Porto, I did the sums, talked to friends who recently bought and the decision was made to buy for the following reasons:
Investment
Security
A mortgage had the potential to SAVE me money
From Offer to Keys: My Timeline
2026
Process Timeline:
3 Feb - 16 Feb - Conversation with rental landlord that price jump of 8% and non-renewal of lease if did not accept terms. Negotiated 5% increase and extension of lease for another year as needed more time. Landlord accepted.
Feb - Spoke to Mortgage Broker, my accountant and lawyer and began gathering the paperwork needed. Realised that since I pay myself via a company, I would need to increase my salary to get a loan. Reality hit that I would need to wait a minimum of three months before I would be taken seriously by a bank for a loan.
Mar - Began shortlisting houses on Idealista for visits to better under the real estate market.
Apr - May - Took a break since documentation was not on hand yet, watched market from a far.
Late May - Restarted active search. This time with narrowed wishlist, more focused plan.
Jun - Started getting offers from Banks - selected a Bank.
Aug - Signed Title
Finding THE House Timeline:
3 Jun - First visit.
10 Jun - Made an Offer.
11 Jun - Second visit.
16 - 23 Jun - Review of CPCV
25 Jun - Signed CPCV
26 Jun - Paid 10% deposit
3 Jul - Bank offer accepted
7 Jul - Third visit.
July - Gather additional paperwork from seller.
24 Aug - Signed Title.
From start to finish 83 days or 11 weeks and 6 days.
The Parts That Surprised Me
Mostly that even my Portuguese friends did not fully comprehend the process of buying a house.
The process is very different in Portugal vs buying a home in Australia. Everything from the banking process, to the options laid in front of you.
It also surprised me that I fit in a special category. I am in between. I am not retired with ample funds behind me and I am not young anymore or with a partner to support the purchase. From the beginning I was told things might be different. Legnth of loan terms especially and potentially options as I am higher risk.
Some of my friends are younger than me, 28-35 year olds. They fit into the IMT Joven incentive and qualifies them for 100% mortgages. I did not. However, this is a huge incentive for young people to take advantage of. I can help you navigate this as all the lessons I learnt still apply to the selecting process and documentation you need.
There is a time limit though as it is confirmed that the term ends 31 December 2026. I have created a IMT Joven calculator to help you work out if you are eligible.
What I'd Do Differently Next Time
For me, if I had more time:
Talk to more friends (local and foreigners) who had been through the process.
I would have seen more houses and developed better relationships with the real estate agents.
When I had all my documents in order, not be scared to go to all the banks in Portugal myself and negotiate my mortgage. Originally I used a broker.I think I could have shaved two weeks from my process by going directly.
What I Wish I'd Had
Have a checklist of the things to look for when buying a house in Portugal.
Have a checklist of documents that I needed to ask from the seller in advance.
Prepare paperwork in advance even before I knew I wanted to buy.