2 large detached houses in Bulgaria
Start your investment portfolio today ? 2 large detached houses for £30,000 o.n.o
Its great to have a holiday home at the best of times but even better to be able to afford one during a recession!
Property 1: Based in Meden Kladenets, near Yambol, Bulgaria
•Fully refurbished 3 bedroom house
•Large roof terrace
•2000m² Garden (Plenty of space for a nice pool)
•Long driveway so you can’t hear any traffic
•Garden well ? Bonus because land is fertile and if you wanted to spend the summer out there you could grow your own veggies.
Property 2: Based in Dryanovo, near Yambol, Bulgaria
•Renovation project ? My plans would have made this into a 4/5 bedroom house
•Large structurally sound outbuilding
•Very good garden space
The photos don’t do the houses justice and I only realised what a poor photographer I was when I got back to the UK and put these pictures on my computer.
In an ideal world I would keep these two houses and rent them out, however, my father has retired and is planning on spending his summers (April ? September) living at a third property that we own and so I need some extra cash to make it more luxurious for him (I think he’s getting delusions of grandeur but when the cost of living is one third that of the UK, why not?). Retirees have brought properties in the Yambol region of Bulgaria because it is very warm for seven months of the year, its quiet, the locals are very friendly and there is an expat community close enough if you wish to make contacts out there. Aside from the weather the other main draw for retirees is the cost of living which is a third of that in the UK and so they spend over half the year in this part of the world basking in lovely weather and saving two thirds of their pension at the same time.
As I’ve said I was keen to keep these two houses and by furnishing the renovated property and renting it out you could then afford to renovate the second property without paying any further money. Once completed pick your favourite as a family holiday home and rent out the other as a second income.
Both houses are within 15/20 minutes drive to the areas main town which is Yambol and they are ideally located for an adventurous traveller as the beach is under one hour’s drive as are the Turkish and Greek borders (check out the distances by typing the village names into Google Maps). Anyone with a taste for wine would also enjoy this area as on the drive from the airport (approx 40 minutes) there are vineyards as far as your eyes can see. I believe planning permission has been granted for a golf complex in the area (extra rental opportunity) and the fishing is supposed to be excellent. The government are also in the process of completing a main highway between Sofia and the coast so taking trips to the capital is also on the agenda.
A further bonus is that mortgages are more readily available than ever out there as the government tries to encourage house hunters following the financial crisis.
I live in the UK and the estate agents that I brought the properties through act as property managers for the houses. They both speak great English and couldn’t be more helpful. Your house is always secure as their relatives live in the area and keep an eye on your houses, but the best thing has to be their dealing with builders. It is possible to lose a lot of money with builders in Bulgaria as you don’t live there you can pay your money and the work might not be what you expected , this will not happen with these guys, they pay the builders in stages on your behalf and only when satisfied with their work. In fact if you’re looking to buy an investment/holiday home you couldn’t wish for better agents, they make you feel like part of their family when you visit.
Saying this they will obviously be conducting the sale on my behalf for mine and your peace of mind so if you’re interested email me any questions and I’d be happy to answer them for you and if you want to go for a visit let me know and I will email you the agents details so that they can arrange accommodation for you as well as a pick up from the airport. I can’t recommend this area of the world highly enough, I would encourage you to visit just to appreciate what a peaceful and relaxing experience it is to live in this area.
Finally, I will just add that when I brought my houses the agents took me to some other properties that they had overseen work on and I met some of the English retirees who live out there and I suggest that you do the same because they were lovely people and invited me into their homes and even if you don’t want to stay out their yourself you can learn a great deal which you can pass on to anybody you rent the property to.
If you’re thinking about buying in Bulgaria I’d get in quick because during the next couple of years Bulgaria will be introducing the Euro and if the same happens as did in Spain then property prices will be rising rapidly.
Please email me with any questions, I’m more than happy to help.