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Property in Bulgaria Under 10,000 euros

You can find renovation properties in Bulgaria for sale at rock bottom prices but buying an old Bulgarian property needs careful thought as there can be hidden pitfalls. It's perfectly possible to buy a home in Bulgaria for less than 10,000 euros but they are usually wrecks, often located in remote places and not a project for the faint-hearted. However, if you are tempted to by a really cheap property to renovate, then first of all you'll need to do some extensive research for yourself.

 

Be aware that photos can be very deceiving and will not tell you whether the property is going to be more trouble than it is worth. To renovate such a run down buy, requires hard work and, in some cases, substantial money. The upside to this is that you can buy now whilst prices are low and pay for renovations as each part of the work is completed over time. This can avoid the need to take a large mortgage and you end up with a rural property that is designed to your own personal needs.

To really find a true bargain under 10,000 euros you need to select an area of Bulgaria where want to buy property. Then you can start to dig deeper into the individual small towns, villages and the surrounding countryside. Preferably an area which hasn't yet attracted too many foreign purchasers, so that prices have not yet shot up.

Once you've decided upon where you'll be buying your Bulgarian property, use the internet to run through searches for anything priced up to 25,000 euros. I know you are looking for property under 10,000 euros but sometimes this is the lowest price you can search on. Also, if you are willing to increase your budget from the price of a second hand Lada, then you'll have so much more selection. A tip here is to put in a minimum price in your search on sites. Frequently sites have a batch of properties advertised marked "price on application". By putting a minimum in, you can avoid these cropping up in your results.

The selection you find will be large, so a viewing trip is the best next step. One of the best things to keep in mind when you are looking at ruins or wrecks for doing up is "why is it so cheap?". Keep asking yourself this to find out all the potential pitfalls which may affect the property. What problems are lurking that you have not yet discovered?

We've put together a short checklist of what we think are the most important questions when considering buying such cheap Bulgarian property.

Is there a road at all to the property
Can I get there in winter
Are there any utilities at the property
Can it be used for residential purposes
Did it have planning permission when it was buitl
Don't believe the agents and the vendor, go to the local municipality and check for yourself
Are there any legal constraints on renovation
Can labourers plus machinery required get to the property

If you can answer yes to these questions and are happy with everything else you have seen, then it's time to check out the cost of the renovation you have in mind before you make an offer. You really need to get a feel for the total price of the project (property plus renovation) before you commit yourself. A number of builders will more than likely tell you that it would be cheaper to knock it down and start again and this may be the case. Don't expect renovation costs to be pennies, anticipate that it may cost 20,000 euros or more, depending upon the current condition of the property and what you want to do to it.

At the end of this you may decide to up your budget and spend a bit more on a property where there is not so much work to do, particularly if you will not be in Bulgaria to supervise the works yourself. On the other hand, you may think that this is a great way to spread the financial load and you don't mind if you are not in your Bulgarian home in the next several months.

To start you off, we've found three Bulgarian properties on the market under 10,000 euros:

6,000 euros
The property is supplied with electricity and running water and satellite TV and Internet can also be installed if needed. This is a two-storey stone based house with total floorage nearing 70 sq m and consisting of a dining-room and a kitchen on the first floor and two bedrooms and a bathroom on the second. A slight touch of renovation is required to turn this house into a comfortable home. A garden of 800 sq m with cultivated grape vines lies in front of the house. Its unique location at the outskirts of Krasen Dol village reveals a splendid view to the river and the dam is only two minutes walk away. The main advantage of the  property is its geographical location, being only 80 km from the airport. The closeness of natural water resources is of great importance for the vividness of the village and a solid base for its future development. One of the main routes that connect the eastern and western parts of the country runs less than 30 km away.
bulgaria-property-investment.com

8,500 euros
Brilliant single-storey house in a picturesque area not far away from the town of Rousse. The house has 100 sq m accommodatino and comprises three spacious and sunny rooms. The house has two basement rooms which would be excellent for a wine cellar. The garden is over 1,000 sq m with plenty of room to create a bbq area and install a swimming pool. The house is currently lived in and is well maintained, although in need of modernisation. The property is only 59 km from the large town of Rousse and 185 km from the magnificent city of Bucharest with an international airport.
bghomeservices.com

7,990 euros
This attractive property is a two storey house with a total floor area of 96 sq m. The house is in need of full renovation but benefits from lovely large gardens of 1,400 sq m and attractive views of the countryside.
There is mains water, electricity, septic tank and a stone wall that surrounds the property. The house is located at a corner in a popular village, which is 32 km from the popular town of Yambol. An artificial lake with fishing area is located 3 km from the village.
bulgarianrealestateonline.com