Can anyone please advise us?
We have recently bought a house in Bulgaria with the intention to relocate later this year. We are flying back Easter Sunday to start work on the house and explore the area. We have also had the offer of another house at what seems to be a good price. The property is small, 3 rooms and a basement, but the condition is good and it would be ideal for one person or a couple. The house is about 20 miles from a town called Rousse. The only reason we would consider another property is buy to let. So our questions are;
1. What is the average rent per month for a village property close to a town? How easy is it to rent such houses? We have also read another thread here concerning the landlord being not paid for months and then having a problem evicting the tenant. This worries us if it is a common problem.
2. What effect will the switch over to the euro have on property prices? The cost of the property is 8K. Sitting in a UK bank this will earn very little. If house prices do increase due to the switch maybe this will will increase in value and give us an income from the rent.
This is a bit of a dilemma for us and our decision to buy rests on the rental potential. Our thoughts are that rather than leaving money in a UK bank and getting very little interest we could invest further and have a regular income. We would not expect a massive income but a little seems to go a long way in Bulgaria and it would top up a pension that we will use to live on. I would imagine that if the house was rented out it would be to a Bulgarian which might mean a lower rent. It is not really a holiday place as such. We are in Bulgaria for one week only and it is likely the house will sell quickly at the price. Therefore we need to view and conclude next week if we are to go ahead. So please if anyone is renting a village house and can help we would be very grateful. I will thank any help given in advance as due to travelling we may not be able to read any replies for a day or so.
Thanks all Mick