The most expensive mistake is relying on the seller’s lawyer. The developer is paid when the deal closes, real estate in algarve portugal which differs from protecting the buyer. An independent lawyer represents a small fraction of the purchase and is money well spent.
Signing in a language you do not speak comes a close second. A certified translation is inexpensive set against the purchase price. Assurances given by the agent carry no weight once a dispute starts — only the signed text matters.
Committing to an unbuilt project blindly has ruined plenty of plans. Before paying anything, examine the developer’s completed projects, the construction licences, and whether payments are held in escrow. Delays happen frequently even in good markets; stalled projects are less common but much more damaging.
Forgetting about resale is less obvious but just as costly. Any madeira property prices will eventually be sold, and the pool of future buyers determines the price. A home with no local demand sells slowly in a weak market.
Finally, plenty of purchasers misjudge the ongoing obligations. Local tax returns are often required even when the home sits empty, and missed deadlines lead to fines that accumulate quietly. Putting in place a local accountant from the first year heads off most of these problems.