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BULGARIAN COMPANY
RE-REGISTRATION
THE GOVERNMENT
HAVE NOT EXTENDED
THE DEADLINE

If you did not re-register your Bulgarian company
by the 31 December 2011
you now risk losing your
property and will face a
hefty bill for the liquidation
of your company.
READ MORE...

COMPANY ACCOUNTS
Your Bulgarian company accounts must be audited each year. For advice on preparing accounts,
click here.
Meet our UK
management team...
David Hollands
David has over 9 years
experience with comprehensive knowledge in all
aspects of property
investment in Bulgaria.
Email: David

mirra
Mirra has over 9 years
experience and will manage
all your financial, legal and administrative requirements.
Email: Mirra
Building and property renovation in Bulgaria...

Geshaview village in Bulgaria
Geshaview - the eco-friendly holiday village and rural retreat in Bulgaria
apartments 2 bed townhouses 3 bed townhouses 3 bed mews cottage 3 bed detached house cottage homes
Apartments
from €100,000
2 bed townhouses
from €140,000
3 bed townhouses
from €182,000
Mews cottages
from €166,000
3 bed farmhouses
from €261,000
Cottage homes
from €128,000

For details on each of the properties click on the images above,
or for more information about the Geshaview village click here.
Mortgages are now available - click here for details


Bentley awardProperty renovation - beforeProperty renovation - after



Bulgaria is rich with property ideal for renovation.
This is one of the main reasons why British people and those from the rest of
Western Europe are now looking for property to renovate in Bulgaria.


For more information about Bulgarian Construction Management please click here


TOPICS COVERED
Planning permissions in Bulgaria
Building in Bulgaria
Older property building standards
Building project management

Examples of budgets for a renovation or building project
The budget for renovation would be approx 50% of the purchase price, so buy a property for between £15K and £25K and invest a further £15K - £20K on it. This will start to give you a sensible end result and a property with value for the future.

£10,000 to purchase
£10,000 renovation costs
£20,000 approximate budget

£30,000 resale value
This budget can buy you a property in a remote or maybe not too popular part of Bulgaria with the possiblity that the infrastructure and mains services may not be available now or in the foreseeable future.

£15,000 to purchase
£15,000 renovation costs
£30,000 approximate budget

£45,000 resale value
Buys you a property in a better position or in better condition where a renovation and repair is possible to consider.

£20,000 to purchase
£15,000 renovation costs
£35,000 approximate budget

£55,000 resale value
This budget starts to become sensible for a small house within need of a full renovation or major repair.

£35,000 to purchase
£15,000 renovation costs
£50,000 approximate budget

£75,000 resale value
This budget now starts to be the level that will enable you to invest in a sensible property. Located well for the future. Good prospects of all services provided to the property.

£50,000 to purchase
£40,000 renovation costs
£90,000 approximate budget

£200,000 resale value
Puts you in a strong position to take on a sensible project. One that can concentrate on getting all aspects of the renovation or repair done properly without trying to cut corners and compromising on the quality and build costs. The end result will be a property good for re sale at a profit in the future or on completion.

There are lots of areas in Bulgaria where property renovation may not be ideal as the region may lack the essential communication and logistical requirements for renovating property. There are many magazines and TV programmes that are now showing you how to renovate all sorts of property.

The renovations featured are based on lots of important issues. To renovate a property in some countries can be very difficult and there could be lots of restrictions on the property to be renovated. You need to be careful in your investigations before you renovate your property. It is essential that you budget correctly as renovations can be costly.
The property may require complicated building procedures to complete the renovation.

You need to make sure the property is practical for renovation. Is there water, electrics and sewerage nearby and available? Contacting the local council to ask these important questions is essential before you start your property renovation.

Planning permissions in Bulgaria
Planning permissions and permits for any building work is essential. Renovating a property and then finding out that the local permits do not allow you to make alterations will be disastrous.

Searching for your ideal property to renovate or restore may be the biggest task of all. Experts in this specialised field are few and far between. Experience in renovating property correctly is the number one key issue to a great and long lasting renovation project.

Finding property to renovate or restore to its original state is fun. If you have the time to explore have a check list of what to look for in the right property to renovate, this can be an education in itself and save you days and months of anguish.

Bulgaria has a great number of old crumbling buildings that look ideal for repairing and renovation, but don't be fooled by first impressions. Many of the properties in Bulgaria have been built without permissions. So choosing the right property for renovation or repair can be difficult. Find yourself a good company that has had experience in building repairs and renovations. Management of the building repairs and the legal process is essential. Planning your budget is also key to the success of a rewarding
property renovation in Bulgaria.

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Building in Bulgaria
Many builders in Bulgaria will charge you a seemingly low price, but you will get a low quality result. Builders in Bulgaria, especially in the rural areas, do not have much experience and a lot of the old building skills have disappeared. Bulgarian builders do have a habit of agreeing and saying 'no problem'. Be aware of this and insist on seeing first hand the building works that they have already done in Bulgaria and the local region.
Property repairs and small building works on Bulgarian property do not always need building permission. However if you are having a building repaired then I suggest that you get a formal builders offer and a written translation of the contract between you and the Bulgarian Builder.

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Older property building standards
Building old properties in Bulgaria sometimes do not have sufficient foundations. A lot of building in Bulgaria has been carried out in a very traditional way. So please be aware of the building techniques that will be adopted. Special attention to heating and the 3 essential services will have a massive effect on the property re sale value.
Building and repairing your Bulgarian property is not a short term project. please allow at least 1 year to manage the building project from start to finish. Building in the winter months is not a good idea as things tend to get rushed and it will have a detrimental effect on the overall building project. It is best to secure the property that is being repaired for the winter and then start again with the building work in the following spring.

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Building Project management in Bulgaria
Building management is something that you need to be aware of. Getting the right Building management of the building works in Bulgaria could be your biggest and best investment in you building repair or renovation project. Control of the building materials, building quantity, control of the building quality. Reporting of the building work progress on a regular basis is essential to ensuring your Bulgarian property is going to be a good investment in the future.

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Architects in Bulgaria
Architects in Bulgaria are well trained and highly skilful. Many of them have left the country to seek business elsewhere in the past years. However architects that are currently in Bulgaria have a great deal of work since the property boom in Bulgaria erupted a few years ago. Be aware of the type of property you want to build. Many Bulgarian architects tend to build BIG. The room sizes can be vast and as a result the building costs can exceed your budget very quickly. Getting architects to give an estimate before the actual building quotation is a good idea. Visiting the architects in their office will allow you to understand better the architectural service they will provide.
Putting your plans for building into reality may be more difficult than you first think. Employing a Bulgarian architect will help you do the job properly but you will find it difficult to cut corners and save money. Meeting on site with your Bulgarian Architect is recommended. Make sure you have a translator with you so any architect technical terminology can be explained fully.


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