Bulgaria Properties for Sale
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Advantages
The key advantage in off-plan Bulgaria properties for sale should lie in the price, though a lack of transparency in market pricing can sometimes undermine this.
Developers have to compensate off-plan property buyers for the risks they are taking, for the delay before completion, and for providing them with capital to help finance the development. Therefore, off-plan Bulgaria properties for sale should earn you a discount of anywhere between 10% and 15% off the current market price for a comparable property in the country.
Then there is quality. Buying a Bulgarian off-plan property should mean you end up with a property that incorporates the latest building techniques and materials. Building regulations have been constantly improving in Bulgaria over the years so brand new properties should be the best on the market, though it does of course depend upon the spec being offered by the developer.
Another advantage is that some developers allow you to have some input into the style in which the property is finished when you buy a Bulgarian property off-plan (i.e., colours, floor boards, fittings).
Finished properties have to be bought "as seen" with no scope for building-in your own tastes from the start. Off-plan property purchases can offer more flexibility in this area, though the policies of developers vary enormously on this matter.
Lastly, there is an "option" advantage, given the delay between the signing of sale contracts and the hand over of your property. Should you change your mind about the development or the area, you may be able to sell the purchase contract to someone else, potentially making a profit in the process, and all without the expense of completing on the property. However, this is a risky strategy.
Disadvantages
To say that the long wait for delivery, up to two years (or more if there are serious problems) is a disadvantage is only true in some cases. In others, it may suit the buyer and thus be seen as an advantage. Even so, for many people a delay of 12-24 months before they can take possession is a disadvantage that has to be weighed up against the cheaper price and other advantages.
An increasing disadvantage of buying off-plan Bulgaria properties for sale is that if you wait too long, many of the best locations may have already been developed and all that remains is second or third tier locations with less attractive views. This is particularly evident along Sunny Beach where the best locations have already been purchased.
 Off-Plan Construction |
When getting down to the nitty-gritty of off-plan Bulgaria properties for sale, there are several potential problems to consider.
The point to take on board is that delays are more common than the sales organisations would have you believe. It is sensible to expect some margin of delay and build this into your planning and the contracts you sign.
This can happen for two reasons: first, because understanding what plans and specifications mean in terms of finished product is more difficult than it might seem, and secondly, because developers have been known to promise one thing and deliver another. So bear these sorts of issues in mind when choosing off-plan Bulgaria properties for sales.
Make sure that the plans and specs of the developer are sufficiently detailed to minimise such problems, and find out what procedures the developer has in place to deal with such problems should they arise.
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