Quest Bulgaria - Property and Lifestyle

If your planning to relocate to Bulgaria and you intend on renovating your own property, be sure to think about what the renovation process  

Perhaps when you bought your Bulgarian dream home in the warm months you noticed the faint dusky smell of damp in one

Not much more than a year ago estate agents and property experts in Bulgaria would have said that even though prices were falling, the days of a really cheap bargain in the country, less than 15,000 euros, were over. Were they right?

Many people opt for buying and ‘doing up’ an old Bulgarian home for a myriad of reasons, some because they believe it will be cheaper than buying or building a new property, others because they anticipate the gains to be made once the project is complete and many of us because we fall in love with the idea of owning a home full of Bulgarian charm and character. One thing to bear in mind is that renovating a property in Bulgaria is far more than a quick paint job and a few plush soft furnishings. Most old buildings are bordering on dereliction. They have faced years without investment and improvements and consequently are often in need of major structural repair.

A vicious circle has arisen on the global property market, in Bulgaria and numerous other countries, due to the financial crisis. The problem concerns off plan properties where the complex is not yet fully completed. There are three elements contributing to this situation. The developer delays or can no longer complete the project: the buyer is unwilling to complete on the property purchase: the banks have either recalled loans made to the developer or are refusing a mortgage to the buyer.

Don't move, improve. Now is the time to add value to your property in Bulgaria through home improvements. In the last few years home owners didn't need to worry about the cost of any improvements they may have made to their property as it was such a rising market. It's a different story now and any improvements you make to your property in Bulgaria need to add value to the price as an investment for the future. Your home in Bulgaria is one of the largest assets you may possess. It doesn't matter whether you intend to live in it for ever or simply sell it in a couple of years, it still makes sense to look after it and improve it.

One of the most common questions from property buyers in Bulgaria is whether cracks in Bulgarian homes are cause for concern. Frequently, cracks in a property worry people like nothing else, even though there are many faults which may be more serious; and even destroy your financial investment. How bad are cracks in a property? They can be anything from tiny plaster cracks to almost yawning chasms which you can put your hand through. Everyone has seen the hairline cracks and we tend to just ignore these, being part of normal construction.

 

Bulgaria is renowned for many things; cheap accommodation and the rich and varied landscape being just two of them. From coastal properties to rural developments inland, there are masses of options available, but not all will allow you to turn the key, kick off your shoes, put your feet up and start living that dream life you always imagined. With the exception of high priced properties, new builds or completed off plan developments, you will need to find another form of accommodation whilst you or your building team work on creating your dream property. Hotel living is just too expensive over a long period of time and in some areas a short term let is not easy to find and for this reason, more new property buyers are choosing a static caravan as a temporary home to see them through the house building or restoration process.

 

When moving into a Bulgarian home be it a new build or a resale property, everyone hooks up to the local utilities and then sits back and enjoys the splendor of Bulgarian life until the power or water go off and reality of life in Bulgaria kicks in.