How to choose property in Bulgaria

You weighed the pros and cons and decided to invest in a property in Sunny Bulgaria. However, the most important thing is still ahead: you must choose the right property, locality and legally competent to make a deal. In this article we will look at what aspects you need to consider for right choice real estate.

Define the purpose of purchase

Before you start browsing the directory of residential facilities, identify the purpose of purchasing property. A clear understanding of goals will save time and will help from the total volume of proposals to identify those that meet your needs and will satisfy your needs. Clearly illustrate how the understanding of the purpose of the purchase affects the choice of the locality and characteristics of housing.

Goal 1 – residential properties

Depending on location, the entire housing stock on the coast of Bulgaria is divided into two groups. The first group – housing in the cities and villages, the second to the resorts. Housing in the cities and villages, or settlements with Bulgarian population, suitable for living, resort real estate – for a seasonal.

Keep in mind that life in the resorts is almost frozen in the off-season: closed the majority of shops, entertainment, banks. Moreover, unlike the cities, the resorts have no, or virtually no, the infrastructure required for living (kindergartens, schools, etc.). In the cities, such as Varna, Nesebar, Burgas, there are all necessary conditions for year-round living.

Objective 2 – Investing

Investment attractiveness of the apartment is associated, firstly, with the rising cost of residential property over time and, secondly, with high rental yield. If you are looking to increase the value of the object in the future, we will stay in Plovdiv, Sofia, Varna and Burgas. How would you not describe the advantages of resorts, the highest liquidity is characterized by a property in a big Bulgarian cities.

If the purpose of investment, income from rent, it is suitable for both urban and resort property. The main thing for holiday apartments – good location, proximity to the sea, developed infrastructure and comfortable housing. Also note that the yield of residential properties in Sveti Vlas, Sunny beach or Golden Sands are higher than in small towns and villages on the coast of Bulgaria.

Goal 3 – Stay with family

When choosing a property to stay on the forefront of stand personal preference of the buyer. If you prefer a quiet stay, choose the small resort towns of Byala, Obzor, Balchik, Elenite or outskirts of major resorts. If you like to be in the heart of the resort, if you fit the housing in the Central part of Sunny beach, St. Vlas or Golden Sands.

Select the format of property: new, secondary homes or the object under construction

Each of these property types has its own advantages and disadvantages. The Bulgarian apartment in a new building will cost you more in the secondary housing market, however, will give the opportunity to make apartment design in its sole discretion. At the same time, the secondary housing Fund passed the test of time, which adds confidence in the quality of purchased housing. Moreover, in the secondary market, you can find cheap deals in relatively new homes built in the 2000's, and not inferior to new buildings.

The most economical option – buying property under construction. According to statistics, "real estate at the stage of excavation", the cost to the buyer 15%-30% cheaper than finished housing. However, with all the pros, this is the most risky option, as it is not known whether the contractor all the obligations. Therefore, choosing this option, look for a Builder with a spotless reputation.

Decide what type of housing to choose: private house or flat/apartment

Before buying a house in Bulgaria, consider the following restrictions.

• According to the Bulgarian law, foreigners, excluding EU citizens may not acquire ownership of land plots (land registration is only possible on a legal entity, which imposes additional costs for the buyer).
• The major resorts the house is located at a considerable distance from the sea. This means that you either have to settle for accommodation in Sunny beach and Sveti Vlas in a distance of several kilometers from the beach, or looking for a cottage or Villa in the coastal resort towns, or in the private sector Varna or Burgas.

If you choose an apartment or apartment, you will have to determine in advance the format of this type of property. Apartments in the Bulgarian resorts are sold at:

• apart-hotels;
• residential complex resort type;
• multi-family homes.

The first two options are more suitable for recreation (swimming pool, sauna, reception, room cleaning), but require significant annual maintenance costs for residential complexes. Apart-hotels in addition provide restaurant and pool bar, but have to pay for it tranquility in the peak tourist season when the hotel is Packed to overflowing with tourists.

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Also read article: 5 tips buyers in Bulgaria