July 2007
Bulgaria, a naturally beautiful country, rich in history, and new EU member, is now encouraging people to purchase second homes and developers are doing their best to attract buyers by matching modern quality with national heritage.  Despite the immense foreign interest in this little country, real estate prices are still amongst the lowest in Europe.  But no matter whether you are looking for a home or an investment opprotunity, there are some useful tips to considerwhen buying propery here.

1. Choosing the area. Bulgaria's nature is varied - there are sandy sunny seaside areas, glamorous mountain developments and charming old towns where you could find a bargain Bulgarian home. Try to have as much information about the neighborhood as possible - ask about the location, the amenities available, transport lines, distances and the road condition.  Ask about hospitals, restaurants, public transportation, etc.  Most of the local cellular companies have covered most of the country's territory.  If the property is in a resort - ask about the infrastructure and distances, if it is a rural house ask about the village, public services, and road conditions.

2. Take a very close look at the offer. After collecting the information about the area, take a close look at the offer.  What you should know is that usually houses are for sale with the adjoining land (yard) and the land is included in the house price.  And if you are tempted by a charming new development, take a look at its size - the total size of the apartment = the built up area (the area you will actually use) + the common parts of the building.  It is a good idea to look at a detailed plan of the apartment to get a full idea of the room sizes etc.

3. New developments. Ask about exact completion dates and check the details of the state of finish; some units are sold without floorings and unpainted walls, others are completely finished.  Some are fully finished and furnished but you need to ascertain whether the furnishings are included in the price.

4. Check out the developers. If the development is new find more information about the developer - does he have any finished projects, what are they like, what is the reputation locally.

5. Professional advice. Make sure you have a professional take a look at the builder's licenses and permissions.  The title deeds of the property should also be checked out- even if it is an off-plan property.  You can be easily misled so be sure to have all documentation checked before closing a deal. 

6. Payment plans.  Some developers have fixed payment plans and others offer flexible schemes, taking in mind the buyer's preferences.  Some of the properties have lower prices when they are in the initial phase of construction, so buying at this time could turn into a good investment.

7. Invoices/receipts. Make sure you receive relevant invoices for your money - don't pay without getting a receipt at the time you hand over the money.

8. Municipality regulations. Be sure to have these checked by a professional when buying a land or plot for construction.  Sometimes you can have a very nice looking plot at a very attractive price and when you buy it planning to build a cozy house on it may turn out that this area is for parks only and building is forbidden - it has happened so be wary and take nothing for granted. 

9. Additional costs. Check in advance any extras you may be required to pay - such as state taxes, notary charges for having the property transferred into your name. You may also have to pay an agent's commission ... not always, so double check.

10. Preliminary sale contract. It is a good idea to have one of these when you pay a deposit for the property. This gives you a guarantee that the property will not be sold to another buyer until you have your payments arranged, and all your documentation checked.

All You Ever Wanted To Know About Buying A Castle - People have always traveled to distant parts of the world to see great buildings or other works of art, to learn new languages, to experience new cultures, or to taste new cuisine. As long ago as the time of the Roman Republic places such as Baiae were popular coastal resorts for the rich. Castles are a natural draw; always have been, always will be.  They aren't building any more 300 year old castles - supplies are limited. To some, the idea of owning a castle in Europe is just an impossible dream. To others, it is a romantic notion that they would like to pursue but have no idea how to go about it, because information on how to buy a castle is simply not available. To own a castle, to live in it and to have an income from it by turning it into a solid business venture is the ultimate dream job for castle enthusiasts. And it is possible!