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Bulgaria is currently the European property investment hotspot. Prices are rising steadily at 30% per annum and are expected to leap forward when the country becomes a full member of the EU in 2007.
Bulgaria is a truly remarkable country with a varied terrain. Not only can it offer city, coastal, mountain and rural properties but the vast amount of real estate that is available to buy, also comes with prices that will fit into everybody's budget.
Coastal properties.
The waters of the Black Sea are actually warmer than those of the along the Spanish mainland throughout the summer months. Popular investment locations are Sunny Beach, Golden Sands and Varna. Up and coming destinations include Nessebar St. Vlas and Balchik.
The developments that are on offer are predominantly designed as seaside holiday apartments. However there is also now a fast-growing golfing market that is being catered for with new developments either in construction or planned. Prices can be from as low as Ј20,000 for a studio apartment to Ј100,000 for detached villas on the golf resorts. Instant equity and guaranteed rental are also available in certain complexes.
City apartments.
Sofia as the capital and Plovdiv as the second city, are the two main areas for growth. Real estate in Sofia is currently around 25% of the cost of other European capital cities. Plovdiv is even cheaper, with prices around Ђ400 to Ђ500 per square metre.
The cities offer an excellent investment choice, with good rental expected from companies relocating to Bulgaria. Corporate lettings can offer consistent guaranteed rental with minimum risk. Prices range from around Ј30,000 for an apartment on the outskirts of town to over Ј100,000 for a city centre apartment with excellent facilities. These prices are considerably cheaper than other properties for sale across Europe.
Rural investments.
The countryside really does offer the cheapest real estate. Bulgaria is a magnificently beautiful country. Roughly the same size as the UK, the country has a total population of less than 8,000,000. The infrastructure can pose a problem in more isolated areas, and price increases will probably take longer than the more popular destinations. Nonetheless, detached properties with acres of land are readily available for less than Ј10,000.
Mountain and skiing real estate.
Bulgaria has three main ski resorts. Borovetz, and Bansko and Pamporovo. The ski season is the longest in mainland Europe. From an investment point of view, the mountaini resorts probably offer the best opportunity for a huge capital gains. The mountains only offer a small, defined area for the development. Once all the available land is built upon, all the existing properties will attract the highest premiums.
Much more informal than other European ski destinations, the Bulgarian resorts offer real value for money. Skiers and snowboarders, appalled by the exorbitant prices charged, especially in France or Austria, will be pleasantly surprised by the ridiculously cheap prices, in all the Balkan resorts. A pint of beer is around 80p and a three - course dinner with a bottle of wine is under six pounds.
The properties available also echo the fantastic value for money, at 60-70% cheaper than other European equivalents. Studio apartments are readily available for less than Ј30,000 as are two-bedroom apartments in the Ј60-Ј80,000 region. The ski season for 2006/2007 is already 75% booked and for those owning property, rental income is virtually assured.
In conclusion, Bulgaria offers a viable investment alternative for everybody. Even with the meanest budget of under Ј10,000, a fast appreciating property can be bought. For those looking to build an expansive portfolio, all the regions offer fantastic value for money and will return considerable capital gains over the coming years.
investmentpropertybg. com offer a full range of properties, that cover all areas of the Bulgaria market. Their advice and services are free. and with vast experience in the marketplace, With offices both in the UK and Bulgaria, they have a wealth of experience and handle all aspects of Bulgarian property investment.
Showing posts with label Real_Estate. Show all posts
Showing posts with label Real_Estate. Show all posts
Thursday, 28 July 2016
Saturday, 16 July 2016
Why room rentals
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Room rentals? Why would you want to make your home into a boarding house? Maybe you shouldn't. I enjoyed having people living in my house, and most of them became friends. On the other hand, you might not like that arrangement. I hated being a landlord when I owned rentals that were not my home. Each of us is different.
Consider Your Room Rental Options
You don't necessarily have to live with the room-renters, so consider all the options available. You could do any of the following:
1. Rent rooms in your own home and share common space with the renters. This is what I did for several years when I was single, and it worked fine for me.
2. Partition your home so you can rent rooms without sharing common space. You'll need at least two bathrooms, and separate entrances to make this work.
3. Add an efficiency apartment for yourself, so you can have privacy, perhaps still sharing a laundry room with the renters. This is what we did when I married. It also opened up one my previous bedroom, increasing the rental income enough to pay for the new apartment in less than a year.
4. Buy a house just to rent it out by the room. This can be an excellent way to get cash flow out of homes that might not otherwise be such good investments.
5. Sublet a room in the apartment you rent. If this is okay with the landlord, it can be a way to afford a nicer apartment, or to get past financial hard times.
6. Use room rentals as a way to afford a house payment. If you are having trouble buying a home because you can't afford the payments, you can buy a home with extra rooms and rent them out.
Consider The Money In Renting Rooms
The amount you can charge for rent will vary greatly in different parts of the country. Here is what I charged renting rooms in a mobile home in a small town in northern Michigan (a few years ago):
Small Bedroom: $65 per week times 52 weeks equals $3380 per year.
Medium Bedroom : $75 per week times 52 weeks equals $3900 per year.
Large Bedroom : $85 per week times 52 weeks equals $4420 per year.
Potential Annual Income (I had a couple weeks vacancy now and then): $11,700 per year.
This was a home that I lived in, remember. I included all utilities in the rent, and I tracked my expenses closely. Including repairs to the heating system, the refrigerator and roof, as well as utilities, garbage collection, cable television, local phone service, property taxes and insurance, my costs the last year I had the house were $3,900 (I had already paid off the $253/month mortgage).
How do you figure profit when you live in the home? Renting rooms in my home probably added $300 or so to the annual costs. Heating was almost the same cost, as was garbage collection, taxes, insurance, cable television, and phone service. A little more wear and tear and a bit more electricity were the only real additional costs. In other words, almost all the extra income was profit. Or if you want to look at it another way, I lived for free and had $7800 income from the home I lived in.
Do you want to have thousands of dollars of extra income every year? What would you do with that money? Think about that, and you have the answer to why you should rent rooms.
Room rentals? Why would you want to make your home into a boarding house? Maybe you shouldn't. I enjoyed having people living in my house, and most of them became friends. On the other hand, you might not like that arrangement. I hated being a landlord when I owned rentals that were not my home. Each of us is different.
Consider Your Room Rental Options
You don't necessarily have to live with the room-renters, so consider all the options available. You could do any of the following:
1. Rent rooms in your own home and share common space with the renters. This is what I did for several years when I was single, and it worked fine for me.
2. Partition your home so you can rent rooms without sharing common space. You'll need at least two bathrooms, and separate entrances to make this work.
3. Add an efficiency apartment for yourself, so you can have privacy, perhaps still sharing a laundry room with the renters. This is what we did when I married. It also opened up one my previous bedroom, increasing the rental income enough to pay for the new apartment in less than a year.
4. Buy a house just to rent it out by the room. This can be an excellent way to get cash flow out of homes that might not otherwise be such good investments.
5. Sublet a room in the apartment you rent. If this is okay with the landlord, it can be a way to afford a nicer apartment, or to get past financial hard times.
6. Use room rentals as a way to afford a house payment. If you are having trouble buying a home because you can't afford the payments, you can buy a home with extra rooms and rent them out.
Consider The Money In Renting Rooms
The amount you can charge for rent will vary greatly in different parts of the country. Here is what I charged renting rooms in a mobile home in a small town in northern Michigan (a few years ago):
Small Bedroom: $65 per week times 52 weeks equals $3380 per year.
Medium Bedroom : $75 per week times 52 weeks equals $3900 per year.
Large Bedroom : $85 per week times 52 weeks equals $4420 per year.
Potential Annual Income (I had a couple weeks vacancy now and then): $11,700 per year.
This was a home that I lived in, remember. I included all utilities in the rent, and I tracked my expenses closely. Including repairs to the heating system, the refrigerator and roof, as well as utilities, garbage collection, cable television, local phone service, property taxes and insurance, my costs the last year I had the house were $3,900 (I had already paid off the $253/month mortgage).
How do you figure profit when you live in the home? Renting rooms in my home probably added $300 or so to the annual costs. Heating was almost the same cost, as was garbage collection, taxes, insurance, cable television, and phone service. A little more wear and tear and a bit more electricity were the only real additional costs. In other words, almost all the extra income was profit. Or if you want to look at it another way, I lived for free and had $7800 income from the home I lived in.
Do you want to have thousands of dollars of extra income every year? What would you do with that money? Think about that, and you have the answer to why you should rent rooms.
Thursday, 18 February 2016
5 tips for overseas vacation home buying success
The dream of owning a vacation home in some sun-drenched overseas location is one the majority of us share, and because real estate proves itself time and again as a solid long term investment commodity, many more people are committing to purchasing real estate abroad as an investment that they and their family can also enjoy and benefit from.
When buying a vacation home abroad there are a number of key considerations to bear in mind to avoid some of the traps and pitfalls sometimes associated with buying long distance and in an unfamiliar country. With these 5 tips for overseas vacation home buying success you can quickly cut a swathe through the research process and move towards securing the dream swiftly and securely.
Tip One – Learn the Rules and Regulations
Different countries have different rules relating to the right or otherwise of foreign citizens to own the freehold title to immovable property. Some widely publicised destinations don't allow foreigners to directly own the land on which their property sits (Bulgaria) or more than one property (Cyprus) for example, and some countries are less economically or politically stable than your own which can mean that real estate related rules and regulations may change in the future. Make sure you're comfortable with the workings of the country you're considering buying a vacation home in, and if in doubt seek professional advice about that country and the ambitions you hold for owning a holiday home in it.
Tip Two - Good Investment/Bad Investment
If you're buying a vacation home with a hope that it will go up in value and be not only a family retreat but a great asset, know that real estate, just like any investment commodity, can go down in value as well as up. Furthermore not all countries have a real estate economy the same as the one in your own country – a little research would be wise into the historic nature of the property market in your country of choice as well as predictions for its future. While such data is not a direct indication of how well your investment will perform it will arm you with more data to hopefully make your decisions easier.
Tip Three - Title Deeds and Legalities
Legal systems and the title deed registration process differ from country to country therefore know your legal rights and try and find out about the essential searches, surveys and title deed checks that need to be conducted before you should commit to buying your overseas vacation home. Never enter into any form of contractual agreement without the direct assistance of an independent lawyer and never accept someone's word that a vacation home has its permissions and title deeds valid and up to date. Insist on seeing and checking all important facts and data before signing on the dotted line.
Tip Four - Accessibility and Desirability
If you're thinking about making an income from your vacation home or even hoping to holiday in it yourself regularly, one of the most important factors to bear in mind is the accessibility or otherwise of your vacation home. If your real estate is difficult to reach, with many miles to traverse and complicated and expensive plane journeys to plan, then it will just become a less desirable commodity over time. While a vacation involves getting away from it all and escaping every day life, a vacation destination and home should be easy and affordable to reach.
Tip Five - Enlisting Assistance
Consider enlisting the help of a reputable real estate agent, an independent lawyer and if you want to make money from your vacation home, a property management service. Such professionals can save you time, effort and money and they can make the whole process of buying and owning a vacation home that much simpler. Make sure you take references, examine credentials and see qualifications before employing anyone to assist you however, and if at all possible seek recommendations because anyone who does a good job will always get good press!
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