Most people are very aware of the various programmes on television on how to make money from property, and by far the most common way to do this is by buying into an older property and renovating it, prior to putting it back onto the open market for re-sell at a far higher value.
The opportunity exists in Bulgaria to achieve this goal for far less capitol outlay than is possible in the United Kingdom
Properties suitable for renovation, particularly in the rural areas, can be great value for money, both in their initial purchase price and the cost of renovating them to a suitable standard for the Western European market. Many shrewd people with smaller amounts of spare capitol available have realized the potential of this investment, and are already building up a very nice nest egg, or a property portfolio, without having to be involved in any of the physical work themselves. By simply finding and using a reliable and honest Real Estate Agency and taking proper advice they are making good steady profits on their investments. It is often possible to buy and sell two properties within a year. The ideal plan is to have both of the properties available in the period from April to October, thus taking advantage of the bulk of the time when most buyers are here. Renovations can often be completed within two months by choosing the right building team, experienced in running and managing renovation projects. Always insist on seeing other projects they have worked on, so then you can personally check they have the right experience in the field. Most builders can build from scratch using plans and drawings, but many of them are not able to be flexible enough when it comes to the different demands of various renovation projects.
The demand for renovated village properties is increasing on an almost daily basis as more and more people realize they don’t want to be right in the middle of a holiday resort with all the noise, disturbance and inflated prices often associated with busy tourist destinations, the biggest current problem is that demand is outstripping the supply of suitable properties renovated to the right standard. By buying a renovated property with clean air in a quite rural location they are able to enjoy a relaxing and stress free holiday. What these same people don’t want to do is take on a renovation project from the start, they prefer to buy an already finished property, renovated to a good standard, that they can then use from day one. That is where shrewd investors with smaller amounts of capitol available can step in and increase the value of their funds, and start to build themselves a very nice and varied property portfolio showing good returns on their initial capitol investment.
If you are thinking of making this type of investment a word of warning, do not deal with just anyone, make sure both the agency and the builder are experienced in this type of work, check previous work done by them, make sure the agency themselves employ their own in house team of builders, [even to the extent of asking to see their employment records] and are not just simply sub-contracting the work out to other parties and loading the price to make a profit from YOU, after all its your money they are spending.
Having found the right people and property just sit back and enjoy the experience of renovating a previously unusable house or villa into a desirable, in demand, and highly saleable piece of real estate.
