Hello my name is Hristo Dimitrov. I’m a student from Varna Bulgaria. I’m new to Irish Mortgage Brokers.
Today my topic is how to buy properties in Bulgaria
-First time buyers
When Bulgarian people are buying a home, they have some problems researching the right home for themselves.
They are also not familiar with how to buy a home. They always have problems and some may come across real estate fraud. So I will show you some helpful tips to follow:
Estimate your budget.
It is important to know how much money you are willing to spend on buying an apartment and navigating the cost of housing in your city.
Don’t do it yourself
Get a mortgage. If your own funds are not sufficient but you have a stable income, get a mortgage. Today, banks issue loans for ten to thirty years.
Get ready – wait for a new building.
Primary housing, that is, apartments in new buildings, are, on average, cheaper than second homes. They also have no legal history. And if the developer sells the property, according to all the rules, you will have no problems with the documents and ownership.
If you want to move now – buy a second-hand property.
The main plus of the secondary apartments is that the property is ready to move in. Water, electricity, phones work, not in test mode, but in
shops and clinics are open. You can immediately meet future neighbors.
Look at the offers and choose a reliable company.
However, you can immediately go to a real estate agent or developer. In this case, choose a company with a good reputation.
If you follow these rules you will find a very nice home
-Mortgage lenders
The best Mortgage lenders are DSK bank, Postbank, Fibank, Raifaizen Bank.
These banks have very nice conditions and you can trust them.
Mortgage rates from 2.80% to 3.95% variable interest rate in BGN **;
Large amount of financing up to BGN 500,000;
Credit term up to 35 years
For a home loan to cover other liabilities over BGN 100,000:
From 2.80% to 3.45% variable interest rate in BGN **;
Up to 30% additional financing for home repairs and improvements;
Credit term up to 20 years.
-Types of mortgage
They are for:
– The purchase of residential property
– Construction, finishing works and improvements to a residential property
– The purchase of non-residential property
– To finance current needs
-Things to consider when getting a mortgage
1.Select a desirable place for your house.
-Climate.
-Ground stability
-Availability of utilities
-Community infrastructure
2.Select the property on which you are going to build and purchase it.
3.Have the property surveyed and the footprint of the house located.
4.Consider access issues.
