InBg Chat Room  

Calendar  
<< May 2018 >>

M T W T F S S
  123456
78910111213
14151617181920
21222324252627
28293031     


In Bulgaria: Forums   


 Forum FAQForum FAQ   SearchSearch   UsergroupsUsergroups    ProfileProfile   ProfileMember List
Log in to check your private messagesLog in to check your private messages   Log inLog in 

Buying an apartment
 
 
Post new topic   Reply to topic    In Bulgaria Forum Index -> Apartment Complexes & Developments
View previous topic :: View next topic  
Author Message
essexboy
All Grown Up
All Grown Up


Joined: Oct 06, 2012
Posts: 64

Location: romford essex

PostPosted: Wed Jan 31, 2018 9:39 am 
Post subject: Buying an apartment
Reply with quote

Hi all, I was looking at buying an apartment near sunny beach, through an estate agent, are there any pitfalls to look out for? Apart from the obvious ones, has anybody on here bought an apartment or lives in one that can give more information please.
Many thanks
Essexboy
  
Back to top
View user's profile Send private message Send e-mail
Seedy
Golden Oldie
Golden Oldie


Joined: Feb 21, 2012
Posts: 6243

Location: Sofia, Dupnitsa, Lincs

PostPosted: Wed Jan 31, 2018 1:36 pm 
Post subject:
Reply with quote

"Apart from the obvious ones"? You'd be amazed at how un-obvious things can be to some people. Not knowing what you feel is obvious, it's a bit tricky to answer the question - apart from asking who on earth would willingly buy an apartment in Sunny Beach, of course.... Wink Very Happy
_________________
Passer sa vie à lutter contre la connerie est le meilleur procédé pour mourir épuisé
  
Back to top
View user's profile Send private message
essexboy
All Grown Up
All Grown Up


Joined: Oct 06, 2012
Posts: 64

Location: romford essex

PostPosted: Wed Jan 31, 2018 2:13 pm 
Post subject:
Reply with quote

Hi seedy, thanks for your reply, I'm going through the process of buying a house in radovets, which I intended to refurbish with the idea of holiday let's, but the first thing anyone in the uk asks is 'how close to the beach is it'...so I though about buying an apartment or studio near sunny beach, because the prices look relatively cheap and the closeness to the beach means I can let it out during peak season. The property's I have looked at state an annual 'management fee' of about €450, just wondered if there were any 'hidden' costs that only come to light when you have signed on the dotted line.  
Back to top
View user's profile Send private message Send e-mail
Seedy
Golden Oldie
Golden Oldie


Joined: Feb 21, 2012
Posts: 6243

Location: Sofia, Dupnitsa, Lincs

PostPosted: Wed Jan 31, 2018 7:09 pm 
Post subject:
Reply with quote

I'd suggest that you clarify just what this "management fee" covers; without knowing the property or "manager" it's unclear if that covers the maintenance of the apartment/complex but I'd suspect that it may not. You also need to be sure that there is a Sinking Fund in place - a lot of SB property was shoddily-built, and sooner or later even the best-built property will need some major work doing. Getting all the owners to cough up annual maintenance is an impossible task - believe me, I know - and hoping that they'll stump up for serious remedial works is a mug's game.

There was quite a bit of jiggery-pokery involving SB complexes in the past and I'd certainly tread warily if I were you. Bear in mind that a lot of people bought property there with the same idea that you have; the fact that apartments are still cheap tells you that this may not be the golden goose that it might appear...
_________________
Passer sa vie à lutter contre la connerie est le meilleur procédé pour mourir épuisé
  
Back to top
View user's profile Send private message
essexboy
All Grown Up
All Grown Up


Joined: Oct 06, 2012
Posts: 64

Location: romford essex

PostPosted: Wed Jan 31, 2018 7:18 pm 
Post subject:
Reply with quote

Hi seedy, yes very good response from you, I hadn't looked at it that way, basically apartments were built in 2009 and I guess in 2018 the fact that they are selling at €9500 tells me that there isn't exactly a 'property boom' in bulgaria. I will email the estate agent for more info tomorrow , and get back in here with their response.
Again, many thanks seedy.
essexboy
  
Back to top
View user's profile Send private message Send e-mail
Seedy
Golden Oldie
Golden Oldie


Joined: Feb 21, 2012
Posts: 6243

Location: Sofia, Dupnitsa, Lincs

PostPosted: Wed Jan 31, 2018 7:45 pm 
Post subject:
Reply with quote

Sunny Day 6, by any chance? Wink
_________________
Passer sa vie à lutter contre la connerie est le meilleur procédé pour mourir épuisé
  
Back to top
View user's profile Send private message
essexboy
All Grown Up
All Grown Up


Joined: Oct 06, 2012
Posts: 64

Location: romford essex

PostPosted: Wed Jan 31, 2018 7:47 pm 
Post subject:
Reply with quote

Yes seedy I think you might be right there.  
Back to top
View user's profile Send private message Send e-mail
Seedy
Golden Oldie
Golden Oldie


Joined: Feb 21, 2012
Posts: 6243

Location: Sofia, Dupnitsa, Lincs

PostPosted: Wed Jan 31, 2018 8:06 pm 
Post subject:
Reply with quote

Well, at that price I'd suspect that it is a tiny studio, probably around the 30m2 mark or not much bigger. If I were you I wouldn't touch it with a barge-pole: the situation MAY have changed but the last I heard several of the SDs, including 6, had no Act 16 - or even Act 15!

There's usually a trickle of people trying to get out from under the SD complexes; it dies down for a while because most/all the potential buyers find out that they'd be buying a LOT of future headaches but then a fresh crop of hopefuls shows up and the merry-go-round starts up again. Some take the bait and then sell asap, usually at a loss.

SD6 is also hardly on the sea-front, to put it mildly! Very Happy

The "good" news is that, I believe, the "management fee" is probably the maintenance fee; I don't think that SD6 actually has a "management" per se.

To be brutally honest, many people have bought property in BG looking to make a bob or three through holiday rentals - I'd be happy to be proved wrong but I've never heard of anyone even breaking even at that game. Depending on how much you have to spend, you'd do a LOT better buying a one-bedroom apartment in one of the major cities and renting it out full-time - you won't get rich but if you do the job properly (no easy task) you'll get a better return than you will from a bank...
_________________
Passer sa vie à lutter contre la connerie est le meilleur procédé pour mourir épuisé
  
Back to top
View user's profile Send private message
Moscow_Wolf
Golden Oldie
Golden Oldie


Joined: Apr 07, 2012
Posts: 9119

Location: Near Karnobat

PostPosted: Mon Feb 05, 2018 11:35 pm 
Post subject:
Reply with quote

There is next to no money to be made by buying to let a small Studio on the Black Sea. My advice would be, forget it. Just my opinion of course.  
Back to top
View user's profile Send private message
Display posts from previous:       
Post new topic   Reply to topic    In Bulgaria Forum Index -> Apartment Complexes & Developments All times are GMT
 
 Page 1 of 1

 

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum
Jump to:   

Powered by phpBB © 2001-2008 phpBB Group

Lastest InBg Forum Postings - The Serious Stuff   
World Dracula day, 26 May 2018 Posted By:plevenite @ 11:49:06 AM
Probably a dumb question from a newbie Posted By:Bulgariabill @ 07:00:15 AM
How to post long urls Posted By:Seedy @ 07:17:43 PM
Snail! Posted By:TheMod @ 06:17:18 PM
Swipe Card Limit BG Posted By:Jake @ 05:36:00 PM
Rooting hormone powder Posted By:plevenite @ 04:59:17 PM
NEW Apartment required Posted By:Daz @ 04:50:43 PM
Scot47 and other old members Posted By:scasparz @ 01:34:59 AM
Interesting reading Posted By:Seedy @ 06:40:51 PM
Hi from Norfolk (just over the border from that Suffolk guy) Posted By:flyingcowman @ 09:00:01 PM
Corrugated asbestos adhesive Posted By:Xanthos @ 09:08:14 PM
NEW Metro's birthday (at least in VT) Posted By:ChrisF @ 03:48:03 PM
Banitsa Posted By:plevenite @ 11:03:28 AM
Hello from Scotland Posted By:jennybloggs @ 12:55:22 PM
Selling company car Posted By:Seedy @ 09:47:13 AM
Public Transport Sofia. Posted By:Seedy @ 09:17:29 AM
Self Promotion. Posted By:Seedy @ 11:36:07 AM
The Skripal Conspiracy Posted By:Seedy @ 11:30:06 AM
General aviation? Posted By:Zee @ 01:16:10 AM
Driving to Turkey Posted By:Seedy @ 02:16:58 PM

Lastest InBg Forum Postings - The Lighter Side   
NEW Does This.... Posted By:Seedy @ 09:04:24 AM
The "Royle Family" Wedding Posted By:Seedy @ 12:18:47 PM
NEW More "Good" News.... Posted By:Seedy @ 04:47:31 PM
Whats cooking Posted By:Seedy @ 07:35:06 PM
Bad News.... Posted By:Seedy @ 11:11:22 AM
NEW Stand By.... Posted By:Seedy @ 07:37:25 AM
And Some Good News... Posted By:Seedy @ 11:27:01 AM
Baba Vanga Posted By:Seedy @ 10:59:38 AM
Highlights of 2017 Posted By:Seedy @ 06:27:08 PM
Guess Who's To Blame? Posted By:Seedy @ 08:10:20 PM

The In Bulgaria Free Ads   

In Bulgaria Gallery   
Latest pictures added to the In Bulgaria Gallery. Just click on an image to view a larger version.

Posted By: plevenite

Posted By: Sleepy

Posted By: Sleepy

Posted By: Seedy

Bulgarian Weather   

Click for Sofia, Bulgaria Forecast Click for Plovdiv, Bulgaria Forecast Click for Varna, Bulgaria Forecast Click for Burgas, Bulgaria Forecast


Time  

Currency converter  
Enter Value

Supporters  
Dreams Real Estate Banner



Follow On Twitter  

Ebay Property  

Web design and programming by The IT Place