Anyone considering a Bulgaria property purchase
needs to familiarize themselves with the basics. After all, making a
purchase of this type is a big decision; therefore, it should not
come quickly, but only after careful research. The first thing you
should consider is the length of time it will take to make a
Bulgaria property purchase. The normal amount of time is three weeks
in which several things need to happen, some of which can slow the
process.
Once you have decided on a property to purchase,
the seller and yourself meet for contract terms and conditions. Once
the contract is negotiated the property is assessed for condition
and value, which can take a week or longer. This will give you the
purchaser an accurate report of repairs that may be necessary and
the value of the property.
Following the assessment, the land title is
checked, local authorities check the property usage laws and the
contract is exchanged along with a deposit. There are several days
given for you to arrange transfer of funds before the final contract
and title is signed before a Notary.
Capital growth is another consideration. While no
one can predict the real estate market, recent returns have been
promising. Current trends are showing a 20 -30% increase over the
previous nine months for property prices. Making a Bulgaria property
purchase at this time appears to be a sound investment.
The cost of living in Bulgaria is also an area of
appropriate research for anyone making a Bulgaria property purchase,
especially if you intend to live in the property. At present
Bulgaria's cost of living is low. Food prices are half what they are
in the UK and insurance is considerably less expensive. Insurance on
a 30,000 Euro home against content, fire, theft and flood will
average 90 Euro per year in stark contrast to the high prices in the
UK and surrounding areas.
At this point, making a purchase in Bulgaria is a
wise investment. Research is the key to success in any investment as
well as keeping in mind that the state of the market can change
almost overnight.
About The Author
Surrinder Ahitan's website
Bulgarian Property Advice provides detailed information and
advice on the most lucrative areas to invest in Bulgaria. You will
learn how to get around, get a flavor of the language, history,
culture and more.
