Algarve, Carvoeiro, Portugal

This three bedroom villa for sale in Caramujeira, Lagoa, sits on a 4,200m2 plot of land and allows for a further 15% build density taking the existing villa up to a spacious 630m2. Situated less than three kilometres from two beaches: Praia de Albandeira in Porches and Praia da Marinha, it’s also approximately 10 minutes from Lagoa’s centre with all the needed amenities.

Spread across one storey, this property comprises an entrance hallway, a kitchen with fitted appliances such as oven, dishwasher, fridge/freezer etc. A large living room with a feature fireplace and sliding doors leading out to the covered patio area and private garden.

There are three spacious bedrooms, all come with fitted wardrobes and the master bedroom has sliding doors leading out to the terrace shared with the living room.

One bathroom is situated next to the master bedroom, and the second bathroom is located closer to the other two bedrooms. Both bathrooms come equipped with walk-in showers with one having an electric towel heater.

Offering extensive private gardens with a generously sized swimming pool and outdoor BBQ/grill, this property is completely habitable as is and represents a traditional Portuguese style home but has the potential to be entirely renovated and expanded into a modern villa.

Additional features include: English style radiators, underfloor heating, manual shutters, solar panels, borehole, driveway with electric gates and an intercom system.

The current owner does have various different floor plans showing what can be done with the villa so get in touch for more information. For reference on what can be done and possible scenarios, please see the below:

Changes that can be made by law
- Plot Size: 4,200m2
- Gross Floor Area: 630m3 (15% of plot size)
- Basement Area: up to 600m2 or more
- Covered Terrace Area: 210m2 (5% of plot size)
- Nº of Floors: 2 + basement
- Borehole: Yes
- City Water: Yes
- City Electricity: Yes

Possible Renovation Scenarios:

1. New Built 600 + 600
- Purchase Price + IMT (Approx): 1,400,000€
- Construction Cost: From 1,000,000€ to 1,400,000€
- Sale Price: From 4,500,000€ to 5,100,000€
- Profit Mean Value: 2,300,000€
- Profit Margin Mean Value: 51%

2. Big Alteration Project
- Purchase Price + IMT (Approx): 1,400,000€
- Construction Cost: From 600,000€ to 800,000€
- Sale Price: From 3,000,000€ to 3,400,000€
- Profit Mean Value: 1,200,000€
- Profit Margin Mean Value: 40%

3. Small Alteration Project
- Purchase Price + IMT (Approx): 1,400,000€
- Construction Cost: From 350,000€ to 450,000€
- Sale Price: From 2,200,000€ to 2,500,000€
- Profit Mean Value: 650,000€
- Profit Margin Mean Value: 30%

4. Inside Refurbishment
- Purchase Price + IMT (Approx): 1,400,000€
- Construction Cost: From 100,000€ to 150,000€
- Sale Price: From 1,700,000€ to 1,900,000€
- Profit Mean Value: 375,000€
- Profit Margin Mean Value: 22%
REF: IDH33306