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I’ve seen too many investors buy in Bulgaria just because someone says it is a good investment opportunity and they buy without having a clear strategy or idea on what they want to achieve do not know or forget the basic principles of Real Estate investing and making mistakes.

It is good to understand that at this stage, Bulgaria should not be considered a rapid return on investment, there are great deals that could give you this, but in general you invest in this opportunity, see it as a investment over the medium term. If you are able to look beyond the poor infrastructure and get excited for the opportunity to invest in growth and economic development around the club you will learn how to prepare yourself for your property investment in Bulgaria .

1. Bulgarian infrastructure is not as developed as you might be used in Western Europe, but that’s where the opportunity is. Now, with the accession to the EU there are a number of infrastructure projects and millions of EU funds flowing into the country. Look beyond!

2. The housing market is very dynamic not cling to what you see on the Internet in reality is always different.

3.Learn much as possible about the country’s economy, political system, geography, law, culture, people – this should give you a good understanding and why and how to invest in the country. Try using independent and reliable sources of information on marketing it.

4.Have a clear strategy and plan how to accomplish it, set a budget limit and time and stick to it – many properties in Bulgaria are cheap and it is tempting to overstretch your budget

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5. Be aware of the total cost – fees, taxes, management fees, construction etc.

6. Have a clear exit strategy and realistic – make a good market research and consulting professionals

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7. Never sign anything before being completely aware of what he said and you agree.

8. Deal with reputable agents who understand what you want and have thorough knowledge of the Bulgarian market – currently a real estate agent is a very popular profession and there are many people who really do not understand what they do. Be careful!

9. Bad title in 1992, it became clear that one of the main administrative barriers could be title registration. Therefore the system Titles neglected for 50 years of socialism, land records are often outdated. Some documents are missing completely and this, combined with an essentially non-computerized system, can create a very confusing picture. Be sure to receive advice from the expert.

10. In Bulgaria, there are terms such as “tax estimation price” and “purchase price”. The “tax estimation price” is for the purposes of real estate taxation and is much more lower than the actual selling (purchase) price. Most homeowners want the Bulgarian “tax estimation price” is written in the title, not the sales (demand) prices that buyers pay, because of this practice there might be differences between the price you pay and the price written in the title. You should know that having a title with the lower price does not invalidate your case. However, this situation has financial consequences, such as not having the official records of money spent and more taxes if you decide to sell the property later on its actual value. Please check with your agent on all aspects of the transaction to avoid misrepresentation and misunderstanding at a later stage.

11. The usual period for property owners to move out of it after the sale is a month. This could be negotiated if the buyers require a shorter duration, but it is advisable to plan ahead.

12. Offers a guaranteed rental income. There are unique opportunities to achieve a good return on your investment this way, but remember to check that your rental income guaranteed is supported by a contract with renowned tour operator, not just an inflated purchase price to allow the developer to return “your own money” during the early years of your investment.

13. construction permits for off-plan developments that the developer has permission to construct necessary and that the property specification is agreed in detail with the manufacturer and the goods will be delivered to you with the necessary license to occupy like a house. Ideally, you should not pay the last installment of the price until the product is.

14. During the journey of visibility, lots of photos and notes. All properties at the end of the day may look like.

15. If you want to demolish an existing property and build a new one, you need a building permit, but it can be waived if you intend to repair the property. Make sure before committing renovation projects to consult a builder and the idea of ​​costs.

16. Do not rush into the outlet, take your time to think – it’s your money and your investment make the most of it

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