When Lisbon became too expensive, they decided to go to Setúbal: Is a New Life Possible for 400 Thousand Dollars?

There is almost no one who dreams of moving to Portugal and does not worry about Lisbon's astronomical house prices when it comes to calculating their budget. The story of Ann and Matt Miller, a couple who set out from America, begins at this point. When the children grew up and moved away from home, Matt, who was eligible to retire at 55, and his wife Ann, who worked remotely, pursued a quiet European life where they could walk to the bakery and breathe in the sea air.

The couple, who set out with a D7 visa, immediately turned south when they saw the prices of 2+1 in Lisbon, which were around 450 thousand Euros. Less than an hour away from Lisbon by commuter train, Setúbal, known for its famous fried calamari (choco frito), fresh fish market and quiet beach life, has opened the door.

Three Different Houses on the Table and Difficult Decision

They received loan pre-approval from a bank in Portugal and set out with a budget of approximately 350 thousand Euros. They had three clear options:

Option 1 (Closest to the Center and with Sea View): A 2+1 on the fifth floor with a wonderful view. Its price was well below the budget at 288 thousand Euros. However, the kitchen and bathrooms were very old. They could not afford the stress of dealing with renovation works and craftsmen in a new country.

Option 2 (Terrace Floor with Garden and BBQ): A 3+1 apartment with a large garden and a garage, 5 minutes away from the train station. The asking price was 325 thousand Euros. However, the sudden increase in the price by 5 thousand Euros after the construction of historical ruins right next to it and the abandonment of the first buyer created a serious question mark; They gave up.

Option 3 (Apartment with Open Kitchen and Balcony): 2+1 apartment located on the 4th floor of a modern building, 10 minutes walking distance from the center. It has an American kitchen, is spacious and ready for living. Initially, 335 thousand Euros were requested.

The Bargaining Table and the Realities of Portugal

The couple, who took advantage of the owner's desire to complete this sale urgently in order to buy another house, managed to reduce the price to 317 thousand Euros with a hard bargain. With a monthly dues of 50 Euros and an annual property tax of approximately 166 Euros, they achieved the exact balance they were looking for.

Signatures were signed in November, and they were fully settled in July. Of course, once we got involved, Portugal's unique bureaucracy and tempo immediately showed themselves. They saw firsthand that "things move a little slower here", with pleasant and harsh experiences such as the former homeowner removing everything down to the ceiling lamps, leaving only the bare cables, and furniture deliveries taking longer.

Today, they enjoy Setúbal's lively evenings, street art and year-round outdoor living. It is a great example that shows that it is still possible to get out and build a quality life without straining the budget, instead of being stuck in the center of Lisbon.

Source: The New York Times / Shannon Sims

Image Source: Rodrigo Cardoso (The New York Times)