5 bedroom Farmhouse for sale with countryside view with Income Potential in Paderne, Algarve
This delightful property was lovingly rebuilt by the current owners, who transformed an old ruin in 1998 into a delightful family retreat. Every corner of this home reflects taste and care, creating a warm space where one can gather regularly in this serene and sunlit haven.
The facade of the house is inviting, and the inside charming. Terraces, shaded by mature trees and paved with traditional Portuguese "calada" tiles, wrap around the hous...
This delightful property was lovingly rebuilt by the current owners, who transformed an old ruin in 1998 into a delightful family retreat. Every corner of this home reflects taste and care, creating a warm space where one can gather regularly in this serene and sunlit haven.
The facade of the house is inviting, and the inside charming. Terraces, shaded by mature trees and paved with traditional Portuguese "calada" tiles, wrap around the house, offering ideal spots for relaxation.
The interior features a cosy study, a spacious living room with a grand fireplace, and a hallway that leads to the ground floor bedrooms and the first floor master bedroom. The rustic kitchen, equipped with a wood burner, also has an area which is used as a pantry room and as a utility room.
Beyond the kitchen, is a welcoming dining room. The ground floor also includes one en suite bedroom and 2 bedrooms with a shared bathroom, while a large covered courtyard provides versatile space that can be transformed to suit your needs.
In addition, there's a quaint rustic cottage on the property, offering a bedroom, bathroom, and walk in wardrobe, perfect for guests or as a private retreat.
The highlight of the outdoor space is the unique half-moon-shaped swimming pool, complete with a barbecue area, perfect for entertaining.
One of the most remarkable aspects of this Quinta is its airy, bright atmosphere and the abundance of space. There are some rooms with air conditioning and there is also central heating throughout the house although a new boiler/heatpump needs to be installed.
The property benefits also of a borehole with a cisterna but there is the mains water and the mains sewage at the street, which can be connected. There are also solar panels for hot water.
While the property could use some updates, it's a wonderful opportunity for those looking to add their personal touch.
With a sprawling 2.5-hectare agricultural plot, this estate offers incredible potential for investors seeking a peaceful yet vibrant home in the heart of the Algarve.
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This Farmhouse is located in Paderne in Portugal
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Buying a Property in Portugal
1. Signing a Letter of Intent
On finding a property you wish to purchase, your agent will draw up a 'Letter of Intent, this will be signed by both parties, vendor and buyer. Copies of this will be given to the legal representatives of both parties and will be used in preparing the Promissory Contract. Included in this letter will be the price, what is included in the sale, furnishings etc. and any conditions of the sale plus the dates for both exchange and completion.
2. Exchange of Promissary Contract (Contrato Promessa de Compra e Venda)
The buyers lawyers are responsible for drawing up the promissory contract (Contrato Promessa de Compra e Venda) and as part of the process they will have carried out the legal searches and made sure that there are no charges, e.g. utilities, property tax etc. against the property. The contract will contain details of both parties and include clear title of ownership, when payments are due to be made, the completion date and an inventory, if required. The Promissory Contract is legally binding and will generally be signed by both parties and witnessed by a notary/lawyer. The contract will include penalty clauses in case either party does not fulfill the terms of the contract. A 10%, non-refundable deposit is required at this point, this will be paid to the vendor, through the lawyer's client account. Once the contract has been signed, if the vendor pulls out of the contract, they will be obliged to pay back double the deposit to the purchaser. If the purchaser pulls out, they will lose their deposit.
3. On Completion
The amount of time between signing the Promissary Contract and Completion will vary and will have been agreed in the contract. Before Completion your lawyer will need to arrange with a fiscal representative for you to obtain a Portuguese Fiscal Number. The official Deed of Transfer of ownership (the Escritura) will be signed by you (or someone representing you with your Power of Attorney), this is signed at the Notary and they will retain the document. The Deed will be read aloud by the Notary before all participants sign it. Your lawyer will need to check to ensure that you understand what is being said if you do not understand Portugese. The Escritura, once it has been signed, will officially give you ownership of the property, but will still need to be registered in your name on the Land Registry (Registo Predial) by your lawyer. Your lawyer should obtain a copy of this for your records. Once you have completed, the new utility contracts can be transferred into your name by your lawyer.