Housing/Rental in Bulgaria

Housing/Rental in Bulgaria

Any traveller or new arrival will confess that there can never be a place of comfort comparable to own housing. When you arrive in Bulgaria or wish to relocate to a new city , the need for appropriate housing must just top the list. After a long day of work, all anyone needs is a calm space to just ease out and take stock of life while making fresh plans. Remember, housing/rental choices in Bulgaria must be carefully made because it will not only influence your monthly budget but also a great starting point for comfort. Let’s verily delve into the details for anyone troubled about housing in Bulgaria.

Bulgaria is popularly known as the ideal destination in the world. People visiting the country talk of its natural diversity which keeps attracting them. The cost of living is also affordable in Bulgaria. If you are on a budget do not worry because the country is affordable to live in. When it comes to housing and buying of property in Bulgaria, the prices are rising steadily.

The case of high prices in purchasing property in Bulgaria was not the case some years back. You could get a property at a cheaper price in Bulgaria than in any other place in Europe. The reason behind the rise is that more people are getting to know how extraordinary Bulgaria is.

Bulgaria’s housing market is experiencing amazing growth year after year. You will not only enjoy a quality life living in Bulgaria but also own property. It is pretty wise to invest in property ownership in this country. The real estate market in Bulgaria offers competitive rates in the entire of Europe. The demand for housing in the country doesn’t seem to be going down anytime soon.

Renting a House in Bulgaria

Not everyone can own a home in Bulgaria. That is why many rent houses in Bulgaria just to have a roof on top of their heads. The real estate market in Bulgaria offers a 1-year contract for those looking into renting. You will be lucky if you come across a place to live offering a few months contract.

However, rental contracts should not bother you that much. This is because you are free to terminate the one-year contract. But you must give a 1 months’ notice. The downside of this is you might not get back the security deposit.

The utilities are never part of the rent. This should be very clear so that you don’t get to thinking that once you pay rent you are through. No. As a tenant, you pay utility bills to the utility company without involving the agent or landlord. This is despite the fact that the bills come under the name of the property owner. Get to know whether the house you are renting has heating and electricity. These two are critical while living in Bulgaria.

Investing in property within the city of Sofia and surrounding Bulgarian cities

Day in and day out, Sofia, the capital of Bulgaria receives many people who want to buy or rent houses. This interest is attracting not just local buyers but also international investors. As people choose to invest in properties in Sofia, it is critical that you only deal with authorized real estate agents. This is to avoid scammers.

If you are not a lover of living in the city’s capital, you can choose a house in another city. Ruse, Veliko, Stara Zagora, Varna, Tarnovo, and Burgas are some of the cities you can find the best housing. Each of the cities has its cultural heritage. It is up to you to consider a city that matches your personal preferences.

It comes as no surprise that Bulgaria is attracting many people who can afford quality housing. Mortgage lending is open to everyone. That is why quality housing is not a compromise in Bulgaria. Authorized realtors are investing in spacious apartments to meet the demand of those not keen on tiny apartments.

Finding the Ideal House to Rent in Bulgaria

Renting in Bulgaria is on the rise because not everyone can purchase a home. Once you identify the house you want to rent, have it thoroughly checked. You don’t want to move into a house and realize later that it has unending issues. Check the lease also to avoid encountering future problems.

When looking for a house you will realize that rent charges are not the same. Some areas charge higher than others. Work with your budget. That is the best you can do to avoid spending outside your budget. Also, you may ensure that it is somewhere near a school where your kids can school in or even workplace.

Housing/Rental Estate Agents in Bulgaria and their Fees

Finding a good house without involving an estate agent can be a daunting task. By involving them you stand a better chance of getting the right house. They are aware of all the houses listed in a given area. When working with any real estate agent, inquire about their fees.

Real estate agents do not charge similar fees. The fee varies from one city to another. In most cases, real estate agents charge an average of 50% of one month’s rent. Note that this is only a one-time fee. That aside, before paying estate agent fees, see the tenancy agreement first.

What to note before buying a property in Bulgaria

Once you figure out the property you want, the next step is engaging the landlord or agent. You cannot move into a house without understanding the terms. It is paramount to look into some factors before making the final decision.

  • When you receive a preliminary agreement be sure not to sign. Engage your lawyer first. Ensure the lawyer performs due diligence about the property and its ownership.
  • The documentation must be correct. Get to know the legal owner of the property. This is also one way of verifying if the documentation is in order. If you do not do this and may be things get out of control, you may be in trouble.
  • Take your time to get everything in order before moving into a house. You might love the house but if you rush you might end up making one of the worst decisions ever. No one should rush you into closing a sale.