Sunny Beach (bulgaria) Property Buying Tips
With approximately 1,700 hours of sunshine between May and September of each year
, as well as a soothing breeze, the area around Sunny Beach, Bulgaria is now home to quite a few apartments, flats, apartments, and villas. For people who have been considering a holiday home, todays market offers some exciting opportunities. Here are a few tips for what to look for when thinking about the purchase of property in Sunny Beach.
First off, understand that Bulgaria has become one of the top-ten markets for UK buyers. However, the market is only just now beginning to tighten, so those considering a purchase are looking at precisely the right time. Buying an offshore holiday home just as pricing is beginning to turn around is the easiest way to lock in future profits.
Russian buyers, in particular, have been snapping up available properties along the Black Sea coast, including Sunny Beach properties. Prices have been averaging between ?450 and ?850 per square metre, depending on the size, condition, and location of the property.
Decide on a location first, and then decide how much you wish to spend. Realistically assess your financial condition. How much can you afford to put down? What type of lifestyle do you prefer? A small villa on the outskirts of town may be more affordable than an urban flat, but if you prefer the city lifestyle, the savings on the villa still will not make you happy. Spend some time viewing properties on the internet to see what appeals to you. Hopefully, you will be spending quite a bit of time here, so you want it to be a good fit for you. Also, check to see if letting the property when you are not in Bulgaria is allowed. This can be an excellent option to help you receive on-going income to offset the cost of your offshore property.
Plan a viewing visit once you have narrowed your selection. This is critical. While a property may have many photographs, nothing equals an in-person visit. Have a list of between five and ten properties you would like to view and give that list to your agent ahead of time. The agent can arrange a viewing expedition for you. Bring your camera and comfortable walking shoes, and plan to spend some time assessing your choices in person.
Bring enough money to place a deposit on your final choice. Before signing any Bulgarian property documents, however, ensure that the property title is free and clear and there are no liens or encumbrances on it. If buying through a personal company or corporation, bring the corporate papers with you so there is no question as to your ownership interest.
If the required steps are taken care of in advance, buying your property in Bulgaria should be a wonderful experience!
by: James P Martin
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