Buying property abroad is always difficult and experiences. What you need to know when buying an apartment, not to miscalculate the price to test the honesty of the sellers to find a reliable realtor and, most importantly, to buy the property, the acquisition of which then won't have regrets? The article provides useful tips collected on the basis of the experience of those who have already become a happy owner of a Bulgarian property.
Tip 1. – Plan.
Before buying an apartment in Bulgaria, define, what do you expect from foreign ownership and record in detail all the requirements on paper. Make a table and write in each column the corresponding parameter location type residential complex, infrastructure, number of rooms, price. To find residential properties in accordance with the list, you can either independently or by passing the parameters in the chosen Agency, and to consider the proposed options.
Tip 2. – Learn.
To understand the real situation on the Bulgarian real estate market, take enough time to study. Determine the average price level in the region where I plan to purchase. Try to understand how the pricing in the market. Possessing adequate information about the prices, you can buy a house or apartment with an optimal ratio "price – quality".
Tip 3. – Come to Bulgaria
To buy property in Bulgaria it is possible and remotely, it is sufficient to find suitable housing on the basis of photographs or video of the corresponding objects. To conclude the contract of purchase and sale can be the same without your participation, after sending to the Agency the documents to the apartment, power of attorney and transferring money to a pre-opened Bank account.
However, photos and videos, no matter how detailed they may be, will not give full information about the residential facility. Perhaps the apartment is ideal for your needs, however the infrastructure is poor or the house is located in a bad place. Or, on the contrary, a residential complex meets your requirements, and in the apartment there are serious disadvantages. It is possible to understand only if you come to Bulgaria and to look around on the ground.
Tip 4. – Haggle.
The installed cost of housing is not final, so haggle with the seller. In Bulgaria discounts and flexible payment schedule real estate. Developer can agree on the maturity of the full value of the property and to register the payment schedule in the contract. For example, you can pay 30-50% of the cost, then within six months, another 30%, and in p��lgod – balance.
Tip 5. – Identify differences, identify the pros, cons, and pitfalls
When buying property in Bulgaria should consider the following peculiarities of the local market:
- Differences in the method of calculation of living area. Due to differences in counting techniques, the actual living area of the apartment is 15-20% less than claimed. This is due to the fact that in Bulgaria in the living area include common parts of the building in proportion to the size of the apartment. To learn more about the Bulgarian method of calculation of living space, you can here.
- Geography of purchase. When buying an apartment on the sea it is necessary to consider that the small resorts in the offseason, "die", and the infrastructure of the residential complexes stops working. In Bulgarian cities on the coast – Nessebar, Varna, Bourgas shopping, shopping malls, restaurants are all year round. Choosing between the resorts, it is better to focus on the Sunny beach, St. Vlas, Nessebar, Ravda, Pomorie - these resorts are better suited for visiting throughout the year.
- Readiness, repair, and furnishing of the apartments. Completely ready to move in, furnished apartments can be found on the secondary market. In most cases, new apartments Bulgaria are sold in draft form according to the Bulgarian Government Standard (BGS). However, thanks to competition in the market more and more developers offer to buyers of apartments turnkey with furniture and household appliances. Also, developers and realtors offer services for the repair and furnishing of the apartments. Purchase of furniture through intermediaries is cheaper, as companies enter into contracts with the furniture showrooms and make customers discounts of up to 10%.
- Is the apartment heated in the winter season. Before buying an apartment read the heating system of the residential complex, especially if you plan to come to the apartment in the winter. Due to the lack of Central heating, Bulgarian houses are heated by electric heaters, air conditioners or fireplaces.
- Additional costs to owners. Tenants in the complexes resort style, or so-called apart-hotels pay an annual fee for maintenance of the building and the surrounding area. Depending on the size of the apartment, annual fees can range from 400 to 1000 euros. For ordinary houses the service charge is minimal.
Find out more about the pros, cons and pitfalls of the real estate in Bulgaria.
