gringo2u
12/22/2016 08:02 EST
I'm seeing nice furnished 1 bdrm apts in Olhao for about 200 usd/mo.,no contract(www.longtermlettings.com)Is that kinda price pretty common there? A person could probably rent cheaper by pounding the pavement too.Then again Im seeing where couples are spending much more per mo.in Portugal than they thought they would.We're not rich, on U.S.Soc.Sec.and small retirement checks.Thanks for any tips!!
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OldPro
12/23/2016 13:55 EST
Gringo2u, I would suggest to you that while you can see listings online for rentals at any level of cost, only you as an individual can say whether when you actually SEE a place, that you would consider it ACCEPTABLE.
Pictures online for example aren't going to tell you if an apartment is above a bar with noise going on till 2 in the morning. Or is next to a busy street with constant car and motor scooter noise. Or any of countless other factors.
The only way to know if a place is acceptable is to go and see it for yourself.
It is also quite common for people who first move to a new place, to move a couple of times in the first year or two as they discover what they can and cannot live with. A place can seem fine when you first see it and then you discover the neighbours from hell live next door or whatever.
The only thing you can really expect to establish beforehand is whether there are any places that seem suitable size wise and within your budget at all. Then finding the right one is trial and error just like it is where you live now. As always, rent will reflect not only the quality of the accommodation but also the location.
There is no use asking though, does anyone live in a place for 200 per month? The answer obviously is yes, people do. But it does not answer, 'will YOU want to live in that place."
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gringo2u
12/23/2016 18:00 EST
I understand, but I was just wondering if it's worth it to GO to investigate, since Im not rich and dont wanna get to the Algarve and find there's NOTHING decent for around 200 usd/mo. I dont need to be able to walk to the beach.I vacationed in Portugal a few times but have never been to the Algarve.I also speak Portuguese.Maybe somebody on this site can give me some extra info about the prices.If I come, I plan on coming with a visa.I love Portugal.
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CascaisPortugal
12/23/2016 18:35 EST
In my opinion it will be hard to find something for as little as 200 usd. I lived in the Algarve for 10 years and found a 1 bedrm apartment with a terrace and seaview for 350 Euros. And remember you have to put up with the summer inconveniences ??
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OldPro
12/23/2016 19:27 EST
Well you could look at Numbeo for a start and see what you find.
Numbeo takes input from individuals who are living in a place along with data they can collect from public sources.
Some consider it unreliable since if here are fewer contributors, the number can easily by skewed. Others consider it a more reliable source than just an average of all rents for example as it is giving real, current, rents that people are paying today.
If you look at Numbeo for the Algarve, you will see there have only been 17 contributors in the last 18 months which is a pretty low sample.
https://www.numbeo.com/cost-of-living/in/Algarve
They show a range of 1 bedroom rent from 250 to 400 outside city centres and 300 to 500 in city centre areas. That doesn't sound to good for your $200 which is only 192 Euros today.
If you look at Numbeo for all of Portugal you will see the average is even a bit higher than that. That is from a sample of 1000 contributors. Which sounds even less attractive.
So here's how I would put it to you if you want MY opinion. You are not going to find better accommodation in Portugal for $200 than you would expect to find in the USA for that kind of rent.
But you also have to take all other costs of living into consideration as well. Suppose you need to spend $300 on rent to get something that is even minimally acceptable to you. Would that matter if food cost you $100 less to buy? You'd break even between the two.
That means you must compare overall cost of living, not just any one item. Numbeo also gives you the ability to do a comparison. So if you live in say Chicago, you can compare it to the Algarve. You get this:
https://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=United+States&country2=Portugal&city1=Chicago%2C+IL&city2=Algarve&tracking=getDispatchComparison
You can go through and add up individual items that would apply to you and come up with some idea of a total cost of living.
For example you have to add in rent and food but you do not have to add in Internet or telephone if you are willing to do without. That allows you to come up with a number that YOU are likely to need.
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gringo2u
12/23/2016 22:02 EST
Thanks a million, OldPro. I got into numbeo and found that Faro and Evora suit me.Evora's apparently VERY affordable,much less than Faro.Thanks so very much!
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CascaisPortugal
12/24/2016 10:10 EST
Re Evora: ask yourself if you can cope with the extreme Inland climate...VERY HOT in summer and VERY COLD in winter.
It's an interesting town though, lots of History. Not so cheap because it's UNESCO World Heritage and attracts quite a few tourists.
I find Leiria District quite more affordable.
Try looking for places on:
www.imovirtual.com
www.custojusto.pt
www.remax.pt
http://www.pureportugalholidays.com/property/casa-gois/
http://www.pureportugalholidays.com/property/hd4772/
Merry Xmas and Good Luck !
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gringo2u
12/24/2016 10:16 EST
Thanks so much!! I got some bad info about rental costs in Evora, but hope to visit it someday.
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OldPro
12/24/2016 12:28 EST
Like I said to begin with, you have to go and SEE for yourself what is available at what price and what it will cost you to find a place that YOU consider acceptable to live in.
Here's the thing gringo2u. While research is a good thing, it will never tell you the whole picture. You can however get a basic idea of whether or not you can afford to live in a country from research. And THAT is as much as I think anyone should expect to get before they GO there.
So if you look at cost of living comparison sites like Numbeo etc. it is reasonable to expect that if they show a place has a 30% lower cost of living than where you currently live, you should be able to afford to live there.
BUT you may not be able to live at the standard you WANT to live at. When someone retires, generally their income drops. That's often when people start looking for somewhere cheaper to live. However, they look with the hope that they will NOT have to lower their current standard of living.
In other words, they want to live on $20k somewhere as they are living on $50k, where they are now. That expectation can be unrealistic.
I look at it like this. Whatever your income is in retirement, what standard of living would it afford you where you now live? Then if a country has a lower cost of living, you can expect to maintain the SAME or better standard of living. BUT you cannot compare it to your income BEFORE retirement and expect to maintain that standard of living.
Where the problem comes in is usually when someone is going to have a pretty low income. They're going to be 'on the edge' wherever they live really. They want to avoid that but in reality you can't no matter where you live.
For example, let's say you move to Portugal, costs are 30% lower and you're happy. But your income is derived in $ and the Euro goes up 30% against the $. Now what? The exchange rate has wiped out any advantage moving gave you. That happens all the time with currency exchange even between what are considered to be 'strong' currencies.
To prepare for such currency changes if you choose to live in another country from where your income is derived, you must have a 'cushion' that will absorb those changes. So if your income is 100 and you live on 70, you have a 30% cushion for example.
Where people go wrong is when they have 100 but can't happily live on it where they are, so they move to a place where they can live on 100 and be happy. But if they are living on the 100 and the exchange rate moves even 10%, they have a problem.
Thousands of retirees who moved have found themselves in this situation. They didn't understand that you have to plan to live on LESS than your total income if you are going to have to risk currency fluctuations affecting your income in LOCAL currency.
So, if you have say $20k in the USA, expect to live at the same standard in a country where the cost is 30% less, NOT at a better standard.
My wife and I work on thirds. One third of income is living costs; one third is disposal income; one third is savings and investments. Over the last 10 years, currency rates affecting our income have gone down, back up and down again by 25%. We don't like it but we can absord that without any real affect. It just means one less vacation in a given year or something.
If you can't live on say 75% max of your income in retirement where you are, moving to a country where you will have to risk currency fluctuations is maybe not a very good idea.
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PresentMonkey
12/24/2016 14:57 EST
gringo,
Here are some more sites for you. We found ours through imovirtual
https://www.idealista.pt
https://casa.sapo.pt/en_GB/
http://www.century21global.com/portugal
http://www.realtor.com/international/
http://www.era.pt/
http://hrhouse.pt/
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