Real Estate Buying In Portugal | From the Professional | It'll Be Fun

We talk to a professional realtor in Madeira Portugal to learn the ins and outs of buying property in Portugal. We are on the Island of Madeira speaking with our realtor today. Our goal in this video is to get you started with the basics for your new property search overseas. Many things are different when you move to a new country and your property search and purchase are definitely one of them. NUMBER One No MLS system to find your property. How will we live!
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✔Our Realtor Claudia Ribeiro email her at [e-mail] imocabrera.com
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About us: We are from the USA and have moved to the beautiful Island of Madeira in Portugal. We are very grateful to have this opportunity. We have put together this channel to talk about our journey. We hope to help you with yours.
Have you ever thought about giving up on the American Dream? Well we finally decided to do just that. We chose to downsize our life into one we could afford in retirement. And that has taken us across the world.
Are you thinking about moving abroad, becoming expats or immigrating? Or maybe you are moving to Portugal or Madeira Portugal. Each week we talk about our journey to retirement, in moving to Portugal, moving to the Island of Madeira and our new experiences. We also answer questions from our viewers!
In case you do not know, the Madeira Islands are in the Atlantic Ocean about 325 miles west of Morocco and 625 SW of Lisbon.
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Enjoy Your Journey!

[@ItllBeFun]

Bom dia! We want to meet you! If you want to meet others on your journey to live abroad. Join us on Patreon. We have a 'It'll Be Fun Monthly Online Meet up Crew' level and every level currently has access to our new 'Itllbefun Discord server' to talk in real time with a private group of like minded people. Click the link www.patreon.com/itllbefun

[@WilliamIngram-gi6sm]

Great Video and Claudia is so well spoken. We had the pleasure to meet her on our October scouting trip. She showed us a few properties, areas around Funchal and Câmara De Lobos, explained the microclimates, and asked and understood our needs. We plan to work with her for a longterm rental next year and for a future purchase. She is very knowledgeable, reliable, friendly and we enjoyed our time with her. Thumbs Up to all of you!

[@ItllBeFun]

Olá William, Thanks for the continued support for our channel. We are so happy you connected with Claudia. She is awesome. We will pass along your good wishes to her. Thanks again! Alan, Leslie and Wolf

[@ItllBeFun]

In spite of poor connection, I wanted to get this video out to you all! There is much to be learned regarding this journey. I hope this video can give a more reliable voice to some concerns you may have had! -Wolf

[@Megnartgorsuch]

hi -bailey

[@dugfriendly]

Oh, thank you! Portugal is my #1 retirement location. 4.5 years until 62.

[@ItllBeFun]

Olá dugfriendly, Thanks for the continued support for our channel. Start the clock! Keep saving money and planning your journey. Obrigado Alan and Leslie

[@thisisourworld9544]

Thank you for showing us Portugal from a Real Estate angle. Its very informative. Much appreciated.

[@ItllBeFun]

Olá This is our World, Thanks for watching and supporting our channel 😀 Obrigado Alan and Leslie

[@OnFireTeamByRemax]

Thank you so much for all the good work you've been doing lately, showing Madeira to people who live abroad in the correct way. And also Cláudia, a college from another Real Estate Agency who's doing a great job. As more agents show her level of professionalism, the better it will be to all. PS: Loved to see Santo da Serra

[@ItllBeFun]

Olá Onfire Team, Thanks for watching and supporting our channel. And for the kind words of encouragement. Obrigado Alan and Leslie

[@kcsnew]

Liked and subscribed, very useful information.

[@ItllBeFun]

Olá kcsnew, Thanks for watching and supporting our channel 😀 Obrigado Alan, Leslie and Wolf

[@alanandsuegrimshaw4629]

Hi Alan and Leslie great video thank you. We arrive on Madeira island on the 12th October to start looking for our forever home so we will be sure to get in touch with Claudia thank you so much for the help and information you provide 🙏

[@ItllBeFun]

Olá Alan and Sue, Thanks for the continued support for our channel. That's right around the corner! Bet you are excited. Happy hunting. Alan and Leslie

[@tamaramadelin4831]

We researched our financing with several mortgage brokers, but ended up going with a bank and financing that our realtor set up! No one could beat the personal relationship she had with our new bank! Process smooth, easy and a great deal...Fixed rate for 27 yrs!!!

[@ItllBeFun]

Ola Tamara Great information. Thanks for sharing. Thanks for watching and supporting our channel. Have a wonderful day Leslie and Alan

[@bernadettevanderploeg9551]

Again, so much great information.Thank you❤

[@ItllBeFun]

Ola Bernadette Thanks again for your continued support. Have a wonderful day Leslie and Alan

[@Alfablue227]

Great video Allen and family. One thing to possibly take into consideration regarding the micro climate areas, is that the local real estate tends to be more expensive because of the more favorable climate. I found that to be the case in Terceira, Azores, not sure if the same is true in Madeira, but something to think about.

[@ItllBeFun]

Olá M Silva, Thanks for the continued support for our channel. Yes, you are correct about the prices of real estate. Obrigado Alan and Leslie

[@cleaningtime8156]

Very interesting video and helpful. Thanks for sharing

[@ItllBeFun]

Bom dia Cleaningtime Nice to hear from you. Thanks for your support as always. We appreciate it. Have a wonderful day Leslie and Alan

[@desertdweller8520]

GREAT VIDEO. If my realty company can't get me a timely mortgage approval, I will consider working with Claudia.

[@ItllBeFun]

Ola Desertdweller Nice to hear from you. Fingers crossed that everything will be smooth. Have a wonderful day Leslie and Alan

[@viagenseoutrascoisas2235]

Hello! Thank you for sharing ❤️

[@ItllBeFun]

Ola Viagens Thanks for watching and for your continued support. Have a wonderful day Leslie and Alan

[@ItllBeFun]

✔Our Realtor Claudia Ribeiro email her at [e-mail] and visit imocabrera.com

[@Megnartgorsuch]

HI -bailey

[@ItllBeFun]

@@Megnartgorsuch Hi Sweetheart! We miss you!

[@richardtaylor9871]

Thanks for a very informative video.

[@ItllBeFun]

Ola Richard Thank you for your support. We enjoy creating videos that may be of help to people. Have a wonderful day Leslie and Alan

[@BrockMcLellan]

Thank you Alan, Leslie, Wolf and Claudia. Interest rates have a significant impact on housing prices, and they seem to be rising in many countries. When we purchased our house at the end of 1990, the interest rates were 14%. This had advantages and disadvantages. The main disadvantage was that it was a lot of money to pay out every month, especially for people who had already bought houses. However, since most people can only afford so much outlay, one advantage was that housing prices fell to about half of what they were a year before, at least for older buildings. Reduced prices didn't really affect people who were moving from one location to another, because they both bought and sold at about the same price. For us entering the housing market for the first (and so far only) time, it was ideal. We also had to make a down payment of about 20% of the purchase price. After a couple of years, interest rates started to fall again. The main advantage for us was that because of the low purchase price we were able to pay off our house purchase in five years. From our perspective the interesting fact is that of the sum of money we paid in those five years, about half went in interest, while the other have paid off the principal. With respect to construction costs, building materials in Norway in 2022 are now falling, after increasing significantly during the pandemic. Because of the higher interest rates, there are less people building, which means that building contractors have cut their rates to attract new business. Housing prices are expected to fall 10% in 2023. As a matter of contrast, our daughter in California has a 30 year mortgage at 2.55%. If she had to negotiate a mortgage today, she tells me it would be closer to 7%.

[@ItllBeFun]

Olá Brock, Thanks for supporting our channel 😀 Alan

[@Camacha2]

Hi Allan, congrats on a fantastic and informative channel, i'm curious as to what camera you use to shoot your magnificent videos, Thanks, Regards Gilbert

[@ItllBeFun]

Olá Camacha2, Thanks for watching and supporting our channel. It's a Gopro Hero10. We have an affiliate link in the description of our videos. It you use it we are given a small commission and you do not pay extra. Obrigado Alan and Leslie

[@aladolfsenjustanoldguy2045]

Thank you for this video. I am especially interested as my wife and I spent a month last July in Madeira. She was born here and has been away for 40 years. We spent most of the time in Santa Cruz and Machico. We currently live in the US but have a house in Brazil (for sale), as her children live there. Mine with grandkids are in the US. She has quite a few relative here, and has expressed an interest in living here part time. She would be happy full time, but I am the issue. I think at some point I would be interested in speaking with your relator, Claudia, as to what options might be available. Thank you again. By the way, I am 71 years old and my wife 62.

[@ItllBeFun]

Olá Al, Thanks for watching and supporting our channel. Sounds like you need to come to a decision. It's a big change for the family. Claudia can help. Good luck with your journey. Obrigado Alan and Leslie

[@Allgoodthingsbeyond55]

Thanks for this video and introducing us to Claudia. What is an easy way to see some neighborhoods without renting a car?

[@ItllBeFun]

Ola Michelle Thanks for watching and supporting our channel. The bus service here is very good, taxi's are readily available and you can walk everywhere. Hope this helps Have a wonderful day Leslie and Alan

[@basementstudio7574]

Thanks for the video. I suppose buying a property cash would simplify the process. I currently have my house here in the DC suburbs paid off and its' value is roughly $750,000. I wonder if a nice house can be found for about half that amount in the area just outside Funchal? I like suburbs with easy access to the city.

[@ItllBeFun]

Ola BasementStudio Nice to hear from you. Your comments help our channel to grow. We think you can find a nice house outside the city for that amount. But each person has different wants and needs. Give Claudia a shout. Have a wonderful day Leslie and Alan

[@chuanlee7383]

I have an house literally 10 mins walking distance to funchal promenade walk. It's yet to put on listing because it's still under renovation and should be done by end of this month. Txt me if you are interested. I can show some pics 😊

[@basementstudio7574]

@@chuanlee7383 Thanks for the offer. It sounds great to be so close to the beach. I'm just starting my research and still have about 3 years till retirement. So I'm not in a position to buy a house just yet. Good luck with your renovation and sale. Thanks again.

[@chuanlee7383]

I see. No problem. All the best to you too

[@liveyourbestlifeover50]

Great video !I don’t see Claudia’s info in the description?🤔

[@ItllBeFun]

Bom dia Live Your Best Life Thanks for watching and supporting our channel. ✔Our Realtor Claudia Ribeiro email her at [e-mail] imocabrera.com Have a wonderful day Leslie and Alan

[@liveyourbestlifeover50]

@@ItllBeFun Obrigada!

[@leopark2526]

Could you let me know again the name of two areas that were referred in this video which were the warmer than Funchal and located near by Funchal?

[@ItllBeFun]

Ola leo park Thanks for watching and supporting our channel. The areas were Ribeira Brava and Arco da Calheta. Have a wonderful day Leslie and Alan

[@markrodgers9527]

I didn’t notice any problem. 😮 another great video with your dad and Claudia. I have a question and have seen conflicting info on Madeira Facebook groups. For renters (non citizen on d7 visa) is there a standard for security deposits? Or is it whatever the market can bear?thanks

[@ItllBeFun]

Ola Mark Nice to hear from you. There is no guaranteed standard. So it is what they market will bare. But usually the ask is one month deposit. Hope this helps. Have a wonderful day Leslie and Alan

[@Stingerca]

Not having an MLS system as a method to search and find homes, strange. Hence finding a Realtor you can trust is key.

[@ItllBeFun]

Bom dia Stingerca Thanks for your support. Yes, it is weird and you are right about finding someone you trust to help with the process. Have a wonderful day Leslie and Alan

[@tamaramadelin4831]

I actually found it best to find the houses and then contact the realtor of the particular house. It didn't seem that any one realtor would look too deep and too far and we were looking in lots of areas...Maybe Madeira is smaller and it can work with particular realtor!

[@ArchangelMLM]

Thank you Alan, Leslie, Wolf and Grier for another great video, very informative, this is the kind of content that is most helpful for people looking to move to Portugal. Thank you so much Michael. (o\_!_/o)

[@ItllBeFun]

Bom dia Michael Thanks again for your continued support. We appreciate it. Have a wonderful day Leslie and Alan

[@DarthDaddy-cg6ro]

So what is the median purchase price of a home or condo?

[@ItllBeFun]

Olá DarthDaddy1701, The median house price on Madeira currently is about 390k euros. Prices vary depending on location and condition. Obrigado Alan

[@DarthDaddy-cg6ro]

@@ItllBeFun Wow, that's high. Thanks.

[@ericbuckner8182]

What a wonderful vid. Does Claudia help with the CBI programs?

[@ItllBeFun]

Ola Eric Nice to hear from you. Your comments help our channel to grow. Your support helps to encourage us. Yes, she does! Send her an email. Have a wonderful day Leslie and Alan

[@ronabondurant6776]

Hello and thank you. Will you be sharing Claudia’s contact information? It would be tremendously helpful.

[@ItllBeFun]

Bom dia Rona Thanks for watching and supporting our channel. ✔Our Realtor Claudia Ribeiro email her at [e-mail] imocabrera.com Have a wonderful day Leslie and Alan

[@Randomedits99988]

Hello we are from Florida looking to move to Madeira. We were looking for realtor. Is there a way to contact Claudia?

[@chrismedeiros3201]

Hi Olga! If your click on "more" below the video, you will see Claudia's information listed with links.

[@ItllBeFun]

Bom dia Olga Thanks for watching and supporting our channel. ✔Our Realtor Claudia Ribeiro email her at [e-mail] imocabrera.com Have a wonderful day Leslie and Alan

[@elizabetesousa174]

😘❤️🌹

[@ItllBeFun]

Ola Elizabete Thanks! We appreciate your support. Leslie and Alan

[@lyndajamrozik4786]

Once I move to Madeira I will never return to the United States .

[@ItllBeFun]

Olá Lynda, Thanks for watching and supporting our channel. Thats your choice, but never is a long time. Obrigado Alan, Leslie and Wolf

[@Gwen-joyful-light]

Lizards can't handle cold weather that should be a clue about the weather.

[@ItllBeFun]

Ola Gwynne bee So true! Enjoy your day Leslie and Alan

[@ruinunes8251]

Lizards are everywhere in Madeira whether you like it or not. 😂

[@Gwen-joyful-light]

@@ItllBeFun I'm a transplant from Pennsylvania now living in south Florida for the last 15 years, so I know about lizards, yuck lol Btw, I just noticed that you have a vlog about single women moving to Portugal so I'm going to check that out now.