Advice wanted on these 2 cheap renovated houses

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sixfeetunder

thanks to all

Postby sixfeetunder » Thu Apr 28, 2011 8:20 pm

Thanks to all replyers, I have one more question, would it be wise to only buy the house to spend holidays there and leave the house for winterl all alone ? Or would you only buy a house for living in Bulgaria and is it safe to leave the house alone most of the time ?

Thanks

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owain
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Postby owain » Thu Apr 28, 2011 9:39 pm

I'd agree with Brian..to a point :wink:
It's a buyer's market now and the Agents and some of the sellers know it.
Both these properties are a good example of having a little bit of money spent on them so the prices can be over inflated
The first property has cleaned and had a 'lick' of paint,any real problems with the property probably haven't been fixed so not really worth 19,000. It's worth 10-12,000 at most.
Again,the second property hasn't really had a full re-furb,just a bit more work and cleaning than the first.The old windows have had some fresh varnish,some cheap tiles and laminate,not worth more than 25,000.I'm sure both these properties look more attractive as photographs :wink:

If you have money to spend, don't rush! there's plenty here for sale. I would put some of the money aside for a few visits here before you even consider buying. And do a few months of research, make sure you know the FULL process of buying and all the pitfalls,plenty of questions can be answered on MYBG.

As far as leaving your home empty, it's the same here as anywhere else. An empty house will always be a target, that's why you should always research the area before you buy. If you do buy, use the services of SOT to secure your home http://sot.bg/index.php?see=home&lang=en

Good Luck :)

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Postby fred » Fri Apr 29, 2011 1:24 am

Hi

Asking what a house in Bulgaria is worth is like asking how long is a piece of string.

Owain is correct when he says that these houses have had only very superficial renovation, a lick of paint and a bit of varnish to get them camera ready.

In Bulgaria it is all about location, as anywhere else.

If you have a house in the middle of nowhere then it will be vulnerable. If you have sot it may help but the thieves will know exactly how long it will take the security folk to reach your house and will strip out what they can in the time they have.

I think I paid over the odds for my place but I love it, it's in a small town, the sot folk would get to it in about two minutes and it is very near to the sea. I love it and have no regrets.

There is no property market in BG, it's worth what you are prepared to pay and what the vendor is prepared to accept. Because we all went collectively mad a few years ago and sent prices rising a lot of Bulgarians are still clinging to the dream of big bucks for tumble down buildings in dying villages. There is also a lot of Brits who have spent far too much renovating houses in the middle of nowhere and are now desperate to get at least some of their money back. There are bargains to be had, go get yourself one, be a bit hard nosed for once in your life.

Best of luck Fred.

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Postby spantrout » Fri Apr 29, 2011 5:53 am

just remember village houses can be bought for as little as 5000lv for a house (broken or otherwise) with upto 2 deka of land, i know this is not the coast, but you can buy brand new apartments in central varna for around 35k euro upwards. and on the coast there have been examples of hotels (valued at 8,000,000 lev) selling for 1,000,000. Do the math 1/8 of the value. I assume there are houses along the coast area with similar discounts.

as has been said before, visit, research, possibly visit again, and then if you're happy, buy.

one more tip as previously mentioned too, get a seperate lawyer and accountant, many horror stories on here of people being ripped off by one stop shops.

best of luck

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Re: Advice wanted on these 2 cheap renovated houses

Postby brianj42 » Fri Apr 29, 2011 9:32 am

sixfeetunder wrote:http://www.mondinion.com/Real_Estate_Listings/adid/662956/Bulgaria--Varna--Varna--House_for_Sale/



Oh Look, your €36,000 house is for sale on this site at €34,000

http://properties-for-sale-dvorishte.im ... 36487.html

And here at €32,000

http://www.holprop.com/s/sale~id~BG9617 ... ~1~c~y.htm

And here for €28,000

http://www.nadejda-propertybg.com/?81&0304&97206

See our point ?

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Thanks again everybody

Postby sixfeetunder » Fri Apr 29, 2011 11:20 am

I see the point, but the minimum price was 32000 and not 28000, but I do see your point. I am not in a hurry now as I see these are notexceptional offers, but rather common,

Bye for now
Lesley


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