Budgeting.........
How do we decide our budget?
You firstly have to decide what you are looking for. There are many properties in Bulgaria for sale at various prices from as little as 4000 Euros upwards but please beware that properties in this price range will almost certainly need either complete renovation or even demolishing.
Be absolutely realistic on what you can comfortably afford. Don't under estimate how much renovations are going to cost you and ALWAYS have an agreement in writing and signed and witnessed by both parties as too exactly what is getting renovated and how much it is going to cost. You should be supplied with a written breakdown of exactly what each the builder is going to be doing.
Apart from obviously your passports and your EHIC cards for all the family.
You need your flights...priced depending on where you fly from and to
Airport transfers...some estate agents will include the first pick up as free and after which you will be charged accordingly
Accomodation... can vary from 150 euros per week upwards for the whole apartment
Hotels .... Although perhaps a bit more luxurious will be more expensive.
Your 10% deposit
And of course enough spending money for the family.
What do we need to do to get to Bugaria and how much will it cost us.
Depending on where you want your house and exactly what you want and of course what condition it is in.
Below is a comparison on what this money will buy you with 4 of the top estate agents in Yambol /Elhovo region.
We have a budget
of 35000 Euros
What will that buy us?
For a TOTAL of 30990 Euros you would be able to buy this house in the Elhovo district.
All the Legal fees, company setup is included.
NO extra costs
Also being offered is
Accomodation, and £100 off any flight is being offered If you purchase a house with them.
For 30900 Euros you can buy this house in the Elhovo district. but will have to allow an extra approximately
€600 for Business setup
Municipal Taxes 2%
Notary preparation and execution fee - approx 0.5% each.
Property registrar entry fee 0.1%
Miscellanous Small fees 65 euros
TOTAL PRICE 32894 .60
For €32000 you can have this house in the Elhovo district but will have to allow
€600 for Business setup,
Estimated cost of Accomodation for 1 week €150
Estimated cost of local taxi for
Airport transfers
€180
Estimated cost of veiwing trips based on 800kms mileage covered at 0.25cents perkm
€160
but not more than €125 per property
So the price would be €33090
and not forgetting the Agents Commision of 3% also to be added on so in actual fact it would be €34082.70
For €32000 you can have this house in the Elhovo district but will have
€600 for Business setup,
Estimated cost of Accomodation for 1 week €150
Estimated cost of local taxi for
Airport transfers
€180
Estimated cost of veiwing trips based on 800kms mileage covered at 0.25cents perkm
€160
but not more than €125 per property
So the price would be €33090
and not forgetting the Agents Commision of 3% also to be added on so in actual fact it would be €34082.70
This comparison is done on a house of under €35000 total price,
It is also based one a one week trip with a four day viewing schedule, with 200Km mileage travelled, per day.
You will need to allow a full day for administration, such as opening bank accounts, business setup and setting up power of attourney.
You will save yourself a lot of time, and possibly expense, if you have selected an area, and have prepared in advance a shortlist of properties you wish to view.
When you come to Bulgaria to buy a house you will need to make sure you have your 10% deposit with you, and then you can give your estate agent Power of Attourney, which means that they can carry out on your behalf all the Legal work pertaining to your house. This avoids expensive trips back and forward to the UK and also secures your dream house. It's then left to the lawyers and your agents to carry out all the neccessary work involved in house buying.
Your 10% deposit will be paid upon signing of the preliminary contract, the remaining 90% will be paid when the sale is completed.
The information collected has been done so form the agents site directly and is readily available for those wishing to look it is in no way meant to be detrmental to any of the agents listed here.
Just merely as information.
