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Tips when choosing a property in Bulgaria

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Tips when choosing a property in Bulgaria

You have already decided that Bulgaria is interesting to you from the point of view of buying real estate. But before you decide on a specific option, you need to select the area and competently carry out a notarial transaction from a legal point of view.
The purpose of the purchase. Permanent residence or summer vacation. First of all, you need to decide for what purposes you will need a property in Bulgaria. If you plan to come to rest by the sea in the summer season, then you should pay attention to the resorts on the coast. In such areas there is usually everything you need for a comfortable stay: restaurants, cafes, shops, water parks and much more. But out of season, life in these places almost freezes, so if the purpose of your purchase is permanent residence, then it is better to pay attention to the cities where there is all the necessary infrastructure for this (kindergartens, schools, banks, shops, etc.). These cities include Varna, Burgas, Nessebar, Pomorie.
Investment. If the purpose of your purchase is an investment for the subsequent delivery of an apartment for rent, then you definitely need to explore which of the complexes are popular with tourists. In this case, of course, of great importance is the distance to which the complex is located from the beach and what services it offers. The closer the building is to the beach and the more amenities there are on the territory, the higher the profitability of the rental.
If you plan to rent property all year round, then you need to choose an apartment in a big city, where there is a job, school, university. Such cities include, for example, Burgas. There is a demand for rental housing all year round, but it must be borne in mind that in these areas real estate prices are much higher than in resort towns.
When you have already settled on some option, before leaving a deposit for an apartment, it is very important to understand that housing is “clean” from a legal point of view, i.e. it is not burdened with any burdens (mortgages, arrests, bails, etc.). Of course, it is impossible to do it yourself. To do this, you will definitely need the help of a competent lawyer or realtor. Our company at all stages of the transaction checks the property for encumbrances, in confirmation of which we provide our clients with appropriate certificates and certificates.
What are the pitfalls when buying property in Bulgaria?
First, you need to pay attention to how the area of ​​housing in Bulgaria is calculated. There are concepts such as the total area and built-up area. The built-up area is the area of ​​housing along with the bathrooms, the balcony and the walls: this includes the entire external walls of the apartment and half of the interior room walls. The total area is the built-up area plus the corresponding percentage of ideal shares of the common areas in the house. Usually it is from 10% to 20% of the area of ​​the apartment. It is from the total area that the maintenance fee is calculated if the apartment is located in a complex with a swimming pool, as well as an annual property tax.
Secondly, it is necessary to pay attention to the presence or absence of Act 16 at the building. Act 16 is a certificate of commissioning, which indicates that the house is fully built in accordance with all standards and declared projects, as well as that it is fully ready for living. Act 16 is preceded by Act 15. He certifies that there are all communications in the house, i.e. in fact, it is already possible to live in apartments with Act 15. But Act 16 is of great importance when obtaining visas to homeowners: if there is no Act 16 at the house where the apartment is located, then the multi visa will most likely not be issued.
Our advice to all buyers of real estate in Bulgaria: always contact a reliable realtor who will not only inform you of all reliable information about real estate, but also check it carefully for any encumbrances.