A lovely rural house in a charming Bulgarian village can still be purchased for as little as 5000 Euros in some regions but what need to you look at when viewing such properties and producing a decision on whether to buy such a house? Here are 5 points you ought to think about cautiously before parting with any funds:
1. Renovations Expenses - Anytime you will be taking into consideration purchasing an older rural home you may need to consider the cost of essential renovations. Realistically any rural Bulgarian house is unlikely to possess a suitable indoor bathroom and simply an outdoor toilet, as a result you're going to need to install a septic tank (unless the property may be connected towards the mains) and have all of the plumbing put in for this along with the bathroom. This can effortlessly cost around 1,500 Euros if not additional. The roof may perhaps require taking a look at, you are most likely to want to get the wiring checked out and probably replaced, possibly some insulation inside the roof cavity, some type of heating, a correct kitchen and most definitely some touch up plaster work. Structural renovations commence to add a considerable quantity towards the final bill and may demand constructing permits. If you begin taking a look at putting internal stairs into properties, generating a separate room to get a bathroom and so on, expenses will commence to mount. Make sure you perform in any renovation fees into your final price range. For any compact rural property spending budget at least 15,000 Euros, better 20,000 to 25,000 Euros.
2. Access and Transport - Take careful note of specifically how the home is accessed. Be certain there's a clear route of access and not just a track over the neighbours vegetable garden. Also ask about winter climate circumstances - is the road to the property liable to become blocked with snow, does the river flood and make access not possible. And verify out neighborhood public transport hyperlinks - is there a common bus service or perhaps a train station or is definitely the only choice going to become to always possess a car. This really is a vital consideration in case you are thinking of renting the house out.
3. The 'convenience' issue - How close is definitely the property towards the nearest supermarket? Is there a shop in the village, is there a restaurant, a cafe and so forth...You don't really wish to have to drive 45 minutes along a pot holed single lane track just to get some simple provisions and neither will your guests if they choose to consume out or go purchasing.
4. Upkeep & Management - If the property is to serve as a holiday home or rental property who will look after it in your absence? Often a friendly neighbour will be more than willing to do this but it is worth checking if there is someone who offers a management service to check the property every now and then, do small maintenance jobs, pay bills etc. And what about the garden? While it may seem fantastic to buy a house with an acre of land, who will look after this when you are not around so you do not come back to a jungle each visit?
5. Vacation Home, Rental, Capital Appreciation - Ultimately when contemplating buying a rural house, believe very carefully about what you will be obtaining it for. If it can be to simply be your vacation dwelling, then so lengthy as you love it, then go ahead but if to get a rental home you'll need to consider why somebody would need to rent it, what there's to perform in the location and also the return that you are likely to obtain. If you're merely searching for capital appreciation, maybe you just intend to buy a plot of land or old house and hold on it within the hope rates will go up or maybe you intend to renovate it and sell on. Check out comparable renovated properties for sale in the region to acquire an thought of what you may hope to achieve. Check out regional economics and company - is usually a new supermarket planned, a golf course, a spa resort and so forth...these can all assistance push home rates up.
You need to consider all these points meticulously ahead of deciding on no matter if you ought to obtain a rural home. If you take into consideration the full cost of renovations, you may learn you might be superior spending additional at the begin to get a modern day villa within a more accessible town.