Taking the Leap Toward Portuguese Homeownership

That trip sparked something in us. When we got back, we couldn’t shake the idea of actually buying a place there. We’re not rolling in cash, and we knew it would be a stretch, but the idea just wouldn’t let go.

Algarve, Portugal

Image shot in the Algarve, Portugal

You miss 100% of the shots you don’t take –Wayne Gretzky

Paul and I visited Portugal for the first time three years ago. We've always been drawn to Europe, the Mediterranean, and that whole way of life. While Portugal isn’t technically Mediterranean, it has a similar vibe. Once we arrived, we were blown away—by the people, the beauty, the food, the wine, and, of course, the lifestyle.

That trip sparked something in us. When we got back, we couldn’t shake the idea of actually buying a place there. We’re not rolling in cash, and we knew it would be a stretch, but the idea just wouldn’t let go.

Since then, we’ve learned a lot. And now, this April, I’m heading to Portugal alone to buy a house! Paul just started a new job, so it’s all on me. The plan? Buy now while we can still afford it, rent it out short-term so it pays for itself, and—bonus—visit annually as a business write-off (thanks to my enrolled agent!). That means our trips to Europe are covered.

We’re taking this step by step. So far, we’ve lined up a currency broker, a Portuguese lawyer, an American realtor specializing in Algarve properties, and a Portuguese mortgage broker. They know the area inside and out, and they’ve been incredibly helpful. Rushing a big decision like this? Not an option. Getting to know people and doing it right is key.

Speaking of enrolled agents—if you don’t know what they are, look into it. They charge less than a typical CPA but are tax experts. Ours, based in Colorado Springs (not far from us in Cortez, CO), specializes in small business and foreign tax situations. She’s already given us great strategies to make this all work.

This is happening! Owning a place in Portugal means a home base for travel—skiing in the Alps, catching the Tour de France, La Vuelta, and Giro, and enjoying a healthier food and wine culture. We’ll be 15 minutes from Spain, three hours from Gibraltar, and just a short hop to Africa! And, of course, I can’t wait to speak Portuguese.

Stay tuned—I’ll keep blogging as we put the next piece of the puzzle in place!