There are a lot of things to consider when deciding to move overseas. And we keep uncovering new little ‘details and questions. One of the first questions that I get asked when someone finds out that I am contemplating moving overseas is, “Do you plan to sell your house or lease it out?” It’s a great question and one over which I have pondered a great deal.
On the one hand, given the real estate market in Bozeman, I know that I could lease my home for a very good price. Any lease agreement would be at least 2 ½ to 3 times my mortgage payment. So, even factoring in property management costs, etc., it would provide a nice monthly stipend. However, the flip side is, do I really want to be a landlord operating from 6,000 miles away? No matter how carefully tenants are screened, there is always the chance that the property could get trashed, or you end up with a deadbeat who won’t pay. After weighing all of the factors, I am strongly leaning toward selling my current house.
Knowing what I know now, perhaps I should have sold it at the beginning of the year when the market in Bozeman was superheated. It has cooled down significantly and I’m sure it will be cool next year as well. The fact is, I will probably not be able to get the same price next year as I could have gotten this year. That said, I still think the best strategy for me at this point is to sell. I really have no intention of living in Montana again, so it seems kind of pointless to keep a place here. On the other hand, if the market were to really tank between now and when I intend to sell, I might rethink that decision. We’ll see.
The flip side of this question is, “Do you plan to buy a house in Portugal?” The answer, at least in the short term is ‘no’. I say ‘no’ for two reasons. First of all, neither Barb nor myself have ever been to Portugal and this trip we are taking in a few weeks is just to do some initial exploratory work. Portugal is a relatively small country. You can drive from top to bottom in 7 hours and drive across it in less than 3 hours. That said, there are significant differences in the climate up north near and down south in the Algarve. We are also going at a time of year that is ‘off season’ for tourists.
On our upcoming trip, we plan to explore several areas of the country but given the limited amount of time we will have, it would be difficult to make a definitive decision about where exactly to live long term. The plan, assuming we like the country after our upcoming trip, is to start the process of getting long term visas and then once those are obtained, find an Airbnb for 3 or 4 months. We’ll use that time to more thoroughly explore the short list of places we like and, hopefully, find something suitable to lease for a year or two.
The other reason to not buy a home right away is that we may decide, at some point in the future, that we want to go explore somewhere else – France, Spain, Croatia, Uruguay (don’t laugh, it’s supposed to be very nice!!) etc. – and it would be a lot easier to pick up stakes and move without being encumbered by a house. Who knows, we may change our minds, find an ‘ideal’ spot someplace in Portugal and decide to buy a home. Everything is up in the air right now and I guess that’s why they call it an adventure!!
At a macro level, the plan is ‘go to Portugal to see if we like it and if we do, sell the houses and find a long-term rental somewhere in Portugal.’ Right now, that is about the extent of the plan.
Another question that comes up is, “Do you speak Portuguese?” The answer is ‘no’ but I am learning. The fact is that it is possible to get along in Portugal without learning any Portuguese. There are robust expat communities is several places in Portugal and in those areas and in the tourist areas, many locals speak English. That said, I believe it only right to learn to speak at least some Portuguese, so I will continue to plod away realizing that I will always sound like an American trying to speak Portuguese.
I have found that when I tell people I am contemplating doing something like this, they basically fall into two categories – those that are very supportive and even sometimes jealous and those who think I am absolutely crazy! My usual response is, “What’s the worst thing that can happen?” I suppose Putin could declare war on all of Europe while we’re there but then again, Yellowstone could blow up while I’m living in Montana! Realistically, the most likely worst case is, we move overseas for a while, decide it’s not our cup of tea, move back to the US and find a place to live. On the plus side, it’s like, why the hell not? I’m a great believer in getting outside one’s comfort zone and having adventures! This is just another adventure!