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BEST INVESTMENT PROPERTY
Renovated property
£86,000 (€125,000)
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BEST INVESTMENT PROPERTY
Renovation project £15,000 (€22,000)
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Choose your perfect home... choose your perfect setting.
Capturing the building techniques of traditional Bulgaria and mixing ingredients of up-to-date technical requirements has allowed us to create a true combination of Bulgaria old and new.
Bulgaria is rich with property ideal for renovation. This is one of the main reasons why British people and those from the rest of Western Europe are now looking for property to renovate in Bulgaria.
There are lots of areas in Bulgaria where property renovation may not be ideal as the region may lack the essential communication and logistical requirements for renovating property. There are many magazines and TV programmes that are now showing you how to renovate all sorts of property. The renovations featured are based on lots of important issues. To renovate a property in some countries can be very difficult and there could be lots of restrictions on the property to be renovated. You need to be careful in your investigations before you renovate your property. It is essential that you budget correctly as renovations can be costly. The property may require complicated building procedures to complete the renovation.
You need to make sure the property is practical for renovation. Is there water, electrics and sewerage nearby and available? Contacting the local council to ask these important questions is essential before you start your property renovation.
Planning permissions in Bulgaria
Planning permissions and permits for any building work is essential. Renovating a property and then finding out that the local permits do not allow you to make alterations will be disastrous.
Searching for your ideal property to renovate or restore may be the biggest task of all. Experts in this specialised field are few and far between. Experience in renovating property correctly is the number one key issue to a great and long lasting renovation project.
Finding property to renovate or restore to its original state is fun. If you have the time to explore have a check list of what to look for in the right property to renovate, this can be an education in itself and save you days and months of anguish.
Bulgaria has a great number of old crumbling buildings that look ideal for repairing and renovation, but don't be fooled by first impressions. Many of the properties in Bulgaria have been built without permissions. So choosing the right property for renovation or repair can be difficult. Find yourself a good company that has had experience in building repairs and renovations. Management of the building repairs and the legal process is essential. Planning your budget is also key to the success of a rewarding
Many builders in Bulgaria will charge you a seemingly low price, but you will get a low quality result. Builders in Bulgaria, especially in the rural areas, do not have much experience and a lot of the old building skills have disappeared. Bulgarian builders do have a habit of agreeing and saying 'no problem'. Be aware of this and insist on seeing first hand the building works that they have already done in Bulgaria and the local region.
Property repairs and small building works on Bulgarian property do not always need building permission. However if you are having a building repaired then I suggest that you get a formal builders offer and a written translation of the contract between you and the Bulgarian Builder.
Building old properties in Bulgaria sometimes do not have sufficient foundations. A lot of building in Bulgaria has been carried out in a very traditional way. So please be aware of the building techniques that will be adopted. Special attention to heating and the 3 essential services will have a massive effect on the property re sale value.
Building and repairing your Bulgarian property is not a short term project. please allow at least 1 year to manage the building project from start to finish. Building in the winter months is not a good idea as things tend to get rushed and it will have a detrimental effect on the overall building project. It is best to secure the property that is being repaired for the winter and then start again with the building work in the following spring.
Building management is something that you need to be aware of. Getting the right Building management of the building works in Bulgaria could be your biggest and best investment in you building repair or renovation project. Control of the building materials, building quantity, control of the building quality. Reporting of the building work progress on a regular basis is essential to ensuring your Bulgarian property is going to be a good investment in the future.
Architects in Bulgaria are well trained and highly skilful. Many of them have left the country to seek business elsewhere in the past years. However architects that are currently in Bulgaria have a great deal of work since the property boom in Bulgaria erupted a few years ago. Be aware of the type of property you want to build. Many Bulgarian architects tend to build BIG. The room sizes can be vast and as a result the building costs can exceed your budget very quickly. Getting architects to give an estimate before the actual building quotation is a good idea. Visiting the architects in their office will allow you to understand better the architectural service they will provide.
Putting your plans for building into reality may be more difficult than you first think. Employing a Bulgarian architect will help you do the job properly but you will find it difficult to cut corners and save money. Meeting on site with your Bulgarian Architect is recommended. Make sure you have a translator with you so any architect technical terminology can be explained fully.
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Examples of budgets for undertaking a renovation or building project in Bulgaria.
The budget for renovation would be approx 50% of the purchase price, so buy a property for between £15K and £25K and invest a further £15K - £20K on it. This will start to give you a sensible end result and a property with value for the future.
£10,000 to purchase
£10,000 renovation costs
£20,000 approximate budget
£30,000 resale value
This budget can buy you a property in a remote or maybe not to popular part of Bulgaria with the possiblity that the infrastructure and mains services may not be available now or in the foreseeable future.
£15,000 to purchase
£15,000 renovation costs
£30,000 approximate budget
£45,000 resale value
Buys you a property in a better position or in better condition where a renovation and repair is possible to consider.
£20,000 to purchase
£15,000 renovation costs
£35,000 approximate budget
£55,000 resale value
This budget starts to become sensible for a small house within need of a full renovation or major repair.
£35,000 to purchase
£15,000 renovation costs
£50,000 approximate budget
£75,000 resale value
This budget now starts to be the level that will enable you to invest in a sensible property. Located well for the future. Good prospects of all services provided to the property.
£50,000 to purchase
£40,000 renovation costs
£90,000 approximate budget
£200,000 resale value
Puts you in a strong position to take on a sensible project. One that can concentrate on getting all aspects of the renovation or repair done properly without trying to cut corners and compromising on he quality and build costs. The end result will be a property good for re sale at a profit in the future or on completion.
...in an old restored traditionally renovated property is everybody's dream, but the reality is quite different. Our BCM service allows you to invest in such a project with the confidence to know everything will complete within budget
and on time. If you either want to re sell it once restored, or spend the rest of your holidays there, we are able to plan your investment wisely.
BCM, Bulgarian Construction Management, controls all aspects of the legal and regulative issues, right through to the build quality and financial investment control. Traditional local craftsmen and materials make your renovation an authentic and long term valuable investment. Budgets start from £20,000.
Tihomir
Contractural, legal and investment control of your renovation is under the guidance of Tihomir Tzanev. His experience as Chief Investment Control Engineer of the new Sofia airport ensures your renovation and investment is managed professionally.
Tedodocy
Regular on site management, quality control, project management, licensing and local contracts. Regular pictorial evidence, writen reporting with periodic updates form part of Teddy's involvement in your project.
Plamen
Pre-planning, government registration, environment control, translations and procurement are just some of the importment roles within Plamen's remit.
Dessislava
Design features, traditional characteristics mixed with modern style and the latest technology result in a mixture of old and new, making your renovated property habitable, pleasurable and valuable. Desi will take all your requirements and create your ideal Bulgarian home.
Amie
Keeping in touch, answers to questions, reassurance and peace of mind knowing that your renovation is progressing is communicated to you through Amie in our UK office. Any worries or questions you will have can be answered clearly and concisely.
For more information about Bulgarian Construction Management please click here
