Bulgarian Investment Property

Bulgarian Investment Property - Guide To Buying Property Abroad - Part 3: Figure out what it is you actually want.

While it's good to learn from your mistakes, when buying property it can be a very expensive lesson when rectifying your gaffes and blunders.

On the whole, I have found the advice of agents when buying abroad pretty much as useless as they are in the UK. In fact, they can be worse, as the language barrier normally works to your disadvantage.

There are exceptions of course. With a lot of trial and error, I have found agents who are excellent in every country I have purchased in, including Bulgaria.

Their standard of service is extremely high with agents unusually tuned to their clients needs. But they're rare! I warn you now.

Generally, the property spec from emerging markets like Bulgaria offer a single picture and a setence or two. So make sure you ask all the right questions if you aren't using someone who knows what they're doing.

A good starting point is asking yourself exactly what you want from the property and where you want the property to be. If you already know that you want a villa in the hills that you can retire to or an apartment on the coast for holidays and renting, you are already two thirds through the theory behind making a successful purchase. You'll be surprised how many people don't even have this clear in their head.

But make sure you consider which areas are more desirable than others for when you want to sell on or rent out. This requires a good deal of time and effort, but it is well spent, especially if you don't want to be fobbed off with a property where the property is going down because of some, as yet unforeseen furture plan.

But what if you're not sure about what you want? Are you happy to sink your money into a flourishing, but immature property market such as Bulgaria where EU membership next year will bring it's own rewards or play safe with established markets such as France and Spain, but have smaller rewards in terms of growth.

Most locations in Europe offer better returns than the UK at the moment, but doing your homework or using an experienced Property Finder with local experience is essential.

So what questions should I be asking myself? We'll deal with that next in Part 4.


Bulgarian Investment Property