Complete Guide to Buying the First Home in Setúbal

26 June 2024

Buying one's first home is an important and exciting step in anyone's life. In Setúbal, with its beautiful landscape and quality of life, this dream can come true in a more accessible way. In this guide, we'll explore everything you need to know to buy your first home in Setúbal.

1. What to Consider Before Buying

Before you start looking for your ideal home, it's crucial to consider a few points:

Budget: Define how much you can spend, considering not only the price of the house but also additional costs such as taxes, insurance, and maintenance.
Needs and Wants: Make a list of what is essential and what would be desirable in your new home. This helps you filter options and focus on what really matters.
Location: Setúbal offers several options, from the city center to more peripheral areas. Consider proximity to schools, transportation, and services.

2. Funding and Required Documentation

Financing is a crucial part of buying a home. Here are some steps to follow:

Loan Pre-Approval: Check with your bank or financial institution to find out how much you can finance.
Types of Loans: Compare different loan options and choose the one that best suits your needs.
Documentation: Prepare documents such as proof of income, IRS, personal identification, and proof of residence.

3. Best Areas in Setúbal for First Time Buyers

Setúbal has several areas ideal for those buying their first home. Here are some suggestions:

Azeitão: Known for its tranquility and beautiful landscapes, it is a great option for families.
San Sebastian: A more central area, close to schools, hospitals and shops.
Troy: If you're looking for proximity to the beach and an incredible view, Tróia may be the perfect choice.

4. Purchase Process

Know the steps of the purchase process to be prepared:

Visits: Schedule visits to properties of interest.
Proposal: Make a proposal to the seller.
Promissory Contract of Purchase and Sale: Formalize the agreement with a contract.
Deed: Finalize the purchase by signing the deed.

5. Conclusion

Buying your first home in Setúbal can be a rewarding experience if you are well-informed and prepared. Follow this guide and you'll be well on your way to finding your dream home.

Visit our list of properties we have available here