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Bulgaria Property Investment- The Three Keys To Maximum Profit
from: ...Tip! You have now decided on the property that you want to buy, and you should now ask the agent is the owner of the property that you want to buy have the legal rights to sell it. If they do, then they should be able to provide you with the papers confirming this (an escretera).
Property investment in Bulgaria can make you a whole lot of money if you do it right. Do it wrong and your money will be tied up in bricks and mortar that nobody wants. Here are the three major factors you must bear in mind to make yourself the maximum profit.
Location, location, location.
You have heard the phrase a million times before and it applies in Bulgaria the same as everywhere else. It is absolutely critical that you choose the right location for your investment to maximise your profit.
If you are buying on the coast, buy as near to the sea as you can. On a golf course, as near to the fairways as possible. In the mountains, on top of the ski lifts if possible. In the cities you need to be close to all transport links and in the ‘hottest' districts.
Buy the best you can afford.
Tip! Be aware of cowboy vendors – they do exist. For example, property agencies with stalls set up at airports or someone who comes up to you in a bar would need to be treated with extreme caution.
The whole point of property investment is to make a profit when you sell. The easier and quicker you can move the property on, the more profit you stand to make. For that reason you must stand in the shoes of the next buyer when you look at any property.
The properties with the best features and in the best condition nearly always sell first. Apartments with great onsite facilities like pools, gyms, restaurants, parking, stunning views and balconies always sell faster and for more, than those without. Country houses finished to Western standards and with all amenities perform much better than renovation projects.
Keep your costs to a minimum.
Tip! Do a seasonal try-out when buying property abroad. What looks like an attractive place to live in summer can be a very different proposition out of season.
Buying anywhere abroad can be time consuming and frustrating. Be careful to buy through an established agent who will assist you in all aspects of the purchase.
The agent should not only find the ideal property for you but then deal with all communication with the developer or vendor. They will save you time and money by doing all the legwork for you and can even save you thousands on the currency exchange when it comes to actually paying.
Bulgaria is a surging market that is set to explode in 2007 when Bulgaria joins the EU. The profits to made in property are staggering as prices are going up by over 30% per year. You can maximise your returns by simply following the guidelines above.
Mark Emerson is the sales director for Intvestment Property BG Ltd. The company specialises in high return investment property in all areas of the Bulgaria Marketplace. http://investmentpropertybg.com
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