Hey everyone,
I’m looking for some financial advice about buying our main home in Portugal’s Golden Triangle area. We’re a European family with a young kid.
Here’s our financial situation:
- Property investments: €2.3m (making about €8k monthly after tax)
- Stock market: 750k in index funds
- Crypto: 1.4m in BTC and ETH
- Stable coins: 450k
- Other investments: 250k in stuff like gold
- Cash: Around 100k
The house we’re eyeing costs 1.1-1.2m. It’s pretty new with a nice garden, pool, and should have low upkeep costs.
I can get a 400k mortgage now, but might be able to bump it to 800k next year when my income situation changes.
We spend about 12.5k monthly, mostly covered by our property income and crypto gains.
Does this purchase make sense financially? The area is super popular and close to great beaches and family spots.
What do you all think? Any red flags or things we should consider? Thanks for your input!
Having navigated the Portuguese property market, I can say that the Golden Triangle remains a prime area for investment. Your financial situation appears solid, but it is important to consider the volatility associated with significant crypto holdings. Waiting for an increased mortgage amount may be wise if property prices continue to rise. It is also essential to ensure liquidity for unexpected expenses and to fully understand any tax implications. In my experience, consulting with a local financial advisor can help tailor a strategy that meets both your current needs and long-term goals.
yo, ur financial situation looks pretty solid. the golden triangle’s a hot spot, so it could be a smart move. but watch out for those crypto holdings - they can be a wild ride. maybe wait for that bigger mortgage if u can. don’t forget to keep some cash handy for surprises. good luck with ur new place!
Hey there! Sounds like a sweet deal you’re looking at. Have you considered the long-term potential of the area? What about schools for your little one? I’m curious, what drew you to the Golden Triangle specifically? It’d be cool to hear more about your plans for settling in Portugal!