A change of direction ...
What became apparent was the budget, or should we say lack of 'extra deep pockets'. Not that property in the Azores is expensive - in fact, just the opposite. But of course it depends on what you want.
This was above my pay scale at 230k Euros - Yes, you get BOTH houses, and both are beautifully fitted out. Still available for sale at July 2017. Now if I sold **Everything** ...
Within my total budget of circa 150k Euros several things became apparent.
You could get a really nicely finished place, but it would be too small for my needs.
You could get a bigger place, rated 'good', but that needed modernisation work.
You could get a standard property that needed even more work. Serious work.
You could buy a ruin and build on it.
One of these fully renovated homes may come in on budget, but surprise, none are for sale.
Another thing that was noted was the standard of appointment of properties considered 'good'. By UK standards they lacked some of the finesse, shall we say, that we take for granted. So, often there was no fitted kitchen, a bit of damp and mould, and could be classed as 'tired'. Often however these properties where much loved family homes; but not luxurious by any means.
Certainly, if I wanted luxury by Azorean standards, the budget for renovation, knocking walls down, fitting a modern kitchen and appliances, new roof, decorating and landscaping etc. etc. was going to match the cost of the property itself.
A substantial ruin, most likely the victim of the 1958/59 eruption. The local authorities are keen to have these rebuilt, or totally replaced by a new build. Planning permission is easy.
If I had been in my 30's or 40's I would not have hesitated to take on a renovation project, as it would be fairly easy to rough it and do the property up in stages, spreading the cost and doing many jobs myself, as I have done with past properties in the UK.
The result of a complete renovation, now used as a luxury holiday rental. How lovely.
But I'm not a spring chicken (I am well clucked) and especially since my accident and a permanently damaged foot, undertaking such a project is off the cards. Damn.
Note to younger readers: If you want to 'Live the Dream', make an early start - just do it, and don't wait until you are approaching pensionable age! Firstly you need your health and vitality, second, if you start early you can always work and save to garner extra funds as the project progresses along.... if you're sixty, then you don't have the luxury of time and energy. Lecture over.
My young friends Steve and Ness moved out to Portugal about 12 years ago. Bags of energy and Living the Dream. They started with a complete basket-case ruin. Here's their new kitchen under construction. Go guys, go. They showed little fear and just got on with it.
It was suggested that there could be another way of looking at having a place on Faial. Brace yourself: Buying some land and building a place from scratch. I was of course dubious about this - my idea had been just to find a home that was "ready to go". But it was obvious that what I desired and what I could afford where incompatible. Off we went in the car....
Visiting My Project Manager's property, which was a new build he commissioned himself with his wife, he suggested I could take a similar route (on a smaller scale as his place was huge!). Buy some land and go for it. Drawings of his designs, planning permissions, costs and such where produced in a flurry of enthusiasm. Over a beer or two, a tour of the house and pouring over piles of paperwork and seeing past projects for other clients I was seriously interested.
The logic: Spend 150k and end up with a property that would cost 200 - 250k to buy. But, importantly, have control over every aspect of finish. That's sorted then ....
Next Up - A Plot with a View
