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What standard of finish for your property?

Discussion in 'Brazil Property' started by Coqueiro, Jul 2, 2008.

  1. Coqueiro

    Coqueiro New Member

    I am 4 months into builidng 8 two and one bedroom apartments on a plot in the Village centre infront of Praia da Concha in Itacare.

    They are going to be 100% tiled with Portanari Porcelanlato tiles and all have a view of the sea from the varanda and bedroom windows.

    The questions I have are, what type of finish would you expect to find in your off-plan or ready built property. What are must haves for you?


    Do your clients or do you as a buyer, look for the following in making your descion,
    1) Plastered walls

    2) Solar hot water systems
    3) Hot water in all taps (kitchen bathroom etc)
    4) Double glazed windows doors with in buillt mosquito nets
    5) BBQ
    6) Split air con
    7) Fitted kitchen and wardrobes

    Or are you satisfied with a more standard type Brasilian beach house type of
    finish?

    1) Concrete rendered walls
    2) Electric head shower head
    3) No hot water taps
    4) Window style air con boxes



    Any feedback would be appreciated.
     
  2. Sunnyshores

    Sunnyshores New Member

    Happy to give my opinion, but need more info:

    Who do you think your market will be ?
    Europeans ? Specifically the British?

    Will you be offering a rental scheme - so most buyers will be buying for rent ?
    Or, will your buyers be buying mostly for a second home in the sun? and spending 2 weeks at a time here
    or, A retirement home? and spending months at a time?

    Will the owners be spending most of their time at the complex or will they be out most of the day and just returning to sleep?

    What is the feel of your resort? Quiet, chilled, refined, natural, unspoilt or young, brash, loud, trendy?

    What is the price difference between a luxury full spec property and a more basic one?

    Should you go for something the same as other developments in the area or something different?
     
  3. Coqueiro

    Coqueiro New Member

    Hi thanks for the reply.

    The idea is to sell 3 or 4 to free some capital up (though this is not strictly necessary), and rent the rest, with the view to perhaps sell them in a few years time.

    My market is Brazilians and Europeans. Long term renters I expect will spend more time in the complex, high season renters more time on the beach, surfing and excursions.

    The feel of the project will be natural, lots of planting, natural shaped swimming pool blending into a landscaped garden.

    It is in front of Concha beach which is the village centre beach, with various beach restaurants and though very quiet most of the year can get quite lively in New Year and Carnaval (hence the idea of acoustic and thermal double glazing).
    There is not really much competition yet, suitable land is very limited in Itacare due to the geography and planning laws.

    The only development with a sea view (Sao Jose), properties start around £400k, so I will be filling a gap for those who want somewhere nice but don’t want to spend that much on a second home.

    My first instinct is to go for as high finish quality as I can afford to ‘future proof’ them against competition. There are some things if you don’t build them in from the start are expensive to do later, like split air con, hot water, and fancy windows. On the other hand I don’t want to spend money on things that will not bring a return.

    Though I have experience of building and doing business here, I have already built and now run a 15 bedroom pousada. This is my first development, and first move into the international property market. So feedback is very much appreciated.


    [​IMG]

    My development is about a 1/4 of the way along the beach behind the tree line.
     
  4. Sunnyshores

    Sunnyshores New Member

    If the only other development is charging £400k (and is sold), its obviously an area where peple are prepared to spend. In general (looking at places like Spain, Turkey) initially cheap places seem to have sold and rented, but when the recession bites, its these places that dont sell or rent whilst the rich are a consistent market always buying/renting.

    I think if you're aiming for the £200k+ market then you need to make them as high spec as possible. But if you're renting them out this needs to be countered with durability.

    How about identifying the ones you are going to sell and making them as high spec as possible and then lowering the spec on the rented ones. Then when you come to sell at a later date replace kitchens, bathrooms, flooring.

    Going with the natural theme, perhaps more woods, stones, handcrafted shutters, doors, kitchens, would be cheaper than more expensive high fashion items? I think if it is 'natural' you can get a way with rustic, rather than shiney, sleek expensive. Solar power fits into this natural/eco type development and buyers may be prepared to pay a premium as its cheaper to run.

    Anyway, just my opinion (as a buyer and renter). Good Luck!
     
  5. Coqueiro

    Coqueiro New Member

    Thanks for the feedback, interesting idea go for less expensive fittings and then update when I want to sell. I also agree with your reccescion proofing them.

    I have a habit of getting carried away with over fitting, (hence my very expensive gym and saunas complete with plunge pool in my mid price range pousada... could have bought another property with the money I spent there.. :( )

    Sao Jose project, houses go all the way up to R$1,600,000 and rent for a week in high season for around R$20k+, these are only 2-4 bedroom places too. Its very exculsive on a private beach.

    My project on the other hand is on the village's main beach, much less exclusive but still pretty unique, the sales woman who also sells Sao Jose, reckons looking at the site and the project should have an initial value of R$250k for a two bedroom unit.
     
  6. Sunnyshores

    Sunnyshores New Member

    If only I could take my own advice! I find it so hard to fit less than perfect or cheap, basic things in our UK rental properties - some of them are nicer than my own home!!
    Are you Brazilian or European? How did you end up doing this?
    Keep us updated, I think there are would-be developers (or dreamers in my case) in alot of us.
    SS
     
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