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Is buying a house a Portuguese cultural issue?

We start with a worldwide ideology, the right to access to decent housing. More than an ideology, it is a desire that begins as soon as the individual becomes independent.


Photo by Nathalia Segato


Moving homes is the first step, but first, all advantages and disadvantages of doing so must be calculated. You should be educated in the field of real estate investments, above all, you will have to be prepared for many issues that may come up in the process. Eventually, the first question will be: buy or rent a house? If you choose to buy a house, the second question may be: build from scratch or buy already built?


When you want to buy a house, you should be aware that it is not an immediate process, you should take all the time needed until you find the ideal house. This is a time-consuming process, but it can be speeded up with the right help. You will save time when hiring a real estate agency, you only need to explain what features you are looking for in a house and how much you are willing to invest for one. Even if your idea is to build a house from scratch, transfer the arduous task of searching for land to your real estate agent.


By buying a house, you will assume more responsibilities than leasing. If you start the process by asking the bank for a loan, know that you must have at least 10% of the total value of the house. Therefore, some savings should be guaranteed to start the process with the bank, which will not lend more than 90% of the necessary amount. A good negotiation when asking for a house loan or buying a house, guarantees values closer to what you intend to invest. (learn how to negotiate the value of a house here).


Renting a house may be free of some charges and responsibilities, but currently, monthly rent may translate into a small fortune in the long term. In some parts of the country, the monthly rent values may be higher than the instalments paid to the bank for housing credit. If your work situation or other circumstance forces you to move often, it is natural that it will be more beneficial for you to rent a house. Never forget that to rent a house, a deposit and a month's rent in advance will be requested.


The costs for the acquisition of a house include the monthly instalment, if you have applied for a loan from the bank, the annual property taxes payment, the condominium, if the house is in a building, as well as the maintenance of the house and among other charges.


Either option has associated charges as well as advantages and disadvantages. In Portugal, 75% of families have their first permanent home, in which 46% asked for a bank loan. Buying a house rather than living in a rented house in Portugal is a cultural issue and also, one less concern in senior age. One of the reasons the Portuguese buy houses is the lack of stability in rented houses. At the end of each contract, if it is not renewed, there may be an anxiety period in the search for a new home.



A large percentage of the Portuguese desire to have their own home. Young people are as traditional as the older generations, they only fit into the present reality by living in a co-living or rental system. This is a Portuguese cultural issue and above all a question of safeguarding for the future.