Buying property via a pay monthly plan

John here, planning on buying a property on pay monthly?

Any experiences?

@johngadsbywork

I agree, windows are awesome! Toilets too! :-)

I strongly recommend that folks avoid houses without these modern essentials.

There are many pay-monthly folks, usually advertising on RightMove or Ebay. Two that are often mentioned (and often recommended) are BulgariaDirect and Mowlem.

Most village houses will have windows and a basic kitchen. Many will have a basic toilet or bathroom, and hence (probably) a septic of some kind.

The listings for these folks are usually pretty good, so if it mentions or shows a toilet or bathroom or kitchen then it has them. And if it doesn't, then it probably doesn't. If in doubt, ask.

The prices now vary quite a lot depending on the location, size and condition of the property. Let's say between 15k and 50k.

As well as the pay-monthly folks, you should have a quick look at Ebay to see what's on sale there (by owner), especially if they're already renovated/livable.

If you spot a new septic, or a renovated roof, or a new shower room, or replacement uPVC windows, these are all good upgrades which would cost you significant money.

Bulgarian villages and Bulgarian village houses can be extremely rustic, and it's worth visiting to see if this is the life that you'd like. There are some folks who are documenting their village renovation adventures on YouTube, so it can be worthwhile to watch a few of these.

Good luck!

I bought via pay-monthly (Bulgaria Direct) and it's generally been a positive experience. There are quite a few other sellers around. Most work on a sort of rent-to-buy type arrangement, it's not a mortgage.  I can only speak from my own experience.

Make sure you get a clear contract stating the seller's obligations to you and your obligations to the seller. The Bulgaria Direct contract is in both English and Bulgarian. They buy the property first, so they aren't agents but the actual seller. The buyer assumes all responsibility for the property from when the contract is signed, so if the roof falls in or you discover the place has more problems than you thought, it's your responsibility. They do make sure there are no outstanding bills or other claims on the property, so you won't risk the nasty situation of finding you've also taken on someone elses' mortgage, or you only own 1/2 a flat, or 1/4 of the house, which can happen! Ownership isn't transferred until after the final payment is made, when the notary paperwork putting the property in your name is done. The other thing to be aware of is that missed payments can mean that the property reverts to them, and you lose what you've already paid. But everything is legal and above board with them, nothing dodgy at all. The admin support is excellent. The cost of any extras, like setting up a Bulgarian company for non-EU buyers to legally own a property with land, and the notary transfer, are clearly stated in the contract. Our house is now fully paid off and ours.

Generally, houses will be in worse condition that you would expect, sometimes far worse. Especially in the lower price range, village houses can be very basic, even recently lived-in ones. Broken, falling-apart windows with paper-thin glass. Dirt floors, even in main rooms. Very basic plumbing. Lots of junk and rubbish. Appliances shown as part of the furnishings that don't work. As Gwyn said, if a toilet isn't shown in the listing, have a high index of suspicion. It's probably because there's only an outdoor hole-in-the-ground type, or a flush toilet that's in a dreadful state.

Kitchens and bathrooms will usually be in with a detached separate building or an add-on at the back, and may often be in a far worse state than the main house. Sellers don't always count them as part of the house when describing condition, so ask! For example, I was told in writing (by a salesperson I believe no longer works for Bg Direct) that the roof would need attention at some point but was in decent enough shape and didn't leak, with no immediate repairs needed. Probably true when he wrote it, provided it was a sunny day! But less than two months later when I first visited the house I discovered that only applied to the main rooms, not the attached kitchen and bathroom where water poured in when it rained and clearly had done for a very long time! I knew about sellers often not counting detached outdoor kitchens and bathrooms as part of the house when describing condition, but it never occured to me that also included attached ones!

The seller should be willing to provide extra photos or more info if you ask specific questions. If they don't, I would avoid that seller. The same with anything in the contract that doesn't seem right to you. Ask and clarify! Also, ask when the photos were taken. Houses left empty can deteriorate quite a bit even if 100% accurately described and photographed when the place first went up for sale. Gardens will become wildly overgrown after a single season. I've seen some online sellers using the same photos and descriptions on properties that have been on the market for many years, or perhaps sold back then but are being relisted.

Where toilets go in a bathroom - frequently in the shower area as a wet room type arrangement. That seems to be the usual way for renovations, so if you want the toilet separate, you need to make that clear to the builder. If the property doesn't already have a flush toilet, the septic tank/cess pit may not exist at all, or may not be up to what you need.

Definitely, unless it's in excellent condition and clearly been fixed already, make any roof and chimney repairs the first priority! I'm seeing a bunch of nicely renovated places on the market with ruined ceilings and floors, presumably because the owners thought they could get away without fixing the roof. Electrical wiring may also be ancient and dangerous. Plumbing may be bodged.

Renovation prices have gone up a lot, so costs may be more than you see people say they paid. We paid just under 10,000 GBP for our house on 1/2 acre, including the notary fees. So far we've done a full reroof, guttering, and three new chimneys on a two bedroom 60 m2 house, which cost the equivalent of 8,000 GBP in April 2023. New main fuse box and full electrical rewire of the back part of the house, which cost about 400 GBP in September 2023. And a partial rebuild of the old kitchen and bathroom including new ceilings, replastering the walls, leveling and tiling the floors in both rooms, fully tiling the bathroom and fitting a window, new HWS, shower, sink, toilet, and washing machine plumbing, which I think came to about 5,000 GBP in total, spread out between October 2023 and April 2024. I didn't get a new septic tank, and am hoping the old cess pit will do the job well enough. Time will tell!

The place needs a lot more spent on it, and isn't yet fully livable. Fine to stay a few weeks in, but it wouldn't be easy to live through a winter there as it is.

Saying all that, I have zero regrets. Despite the issues, we love our house, the neighbours, the village, and are counting the days until we can move full-time! We are blessed to have a safe, friendly village, and amazing neighbours who've been welcoming and helpful. It makes a big difference.

Thank you guys for your information...

It's mowlem that I've been doing the research on and they have a couple of houses. They do have toilets but I'm yet unsure what condition...

I think I will see what my finances will be like with my current job and college if I stay for few years so I can commit.. don't wanna get half way through then get into trouble.

Mowlem have also said they will get a live WhatsApp walk through with me as I wouldn't be able to get there in first couple months. They also said they can recommend builders and gardening team to maintain things while I'm at home during term time....

So far I'm really impressed with what I have seen so far...

I want to do a little research into Ruse and local English spots... don't want to find myself totally cut off...

@gwynj

Can you buy these kinds of property with just a D visa?  I thought if you bought anywhere with land you had to have a long-term residence permit.

A few people here have said good things about Mowlem, and they've been around for a while, so they're a reliable, long standing company.

Their houses look solid, often freshly painted and with newly cemented floors downstairs, and the roof will have been checked. Bathrooms, kitchens, and electrical wiring are probably all very basic. I notice that often some of the downstairs rooms have no electric outlets at all as they would have been storerooms.

There are some nice villages and  quite a few Brit expats in that region. We ended up buying somewhere different, pretty much by accident, but north of VT was the first area we looked at.

You're wise to consider finances over the whole repayment period. The deals look enticing, but if anything goes wrong and you can't meet the repayments for more than a couple of months, there would be the risk of losing the property and what you already paid.

If you want to move to Bulgaria, have you looked into which visa category you'd qualify for? Post-Brexit, Brits can only stay 90 days per 180 without applying for a long stay visa.

@Petra L UK

You don't need a residence permit or D visa to buy as a non-EU citizen, but would need a Bulgarian company that owns the land, with you as the owner of the company. Though I just saw on a different post that you're looking at an apartment, so if the apartment doesn't include a share on the land the building is on, then you don't need a company, either, AFAIK. You can just buy.

The D visa is totally separate and not required to buy, only to move. It's the first step to a permanent move, as we can only stay 90 days per 180 without it.

We had no problem buying the properties, the agent helped with company set up for a reasonable extra fee. But we can't move until I qualify for a D visa.

@Petra L UK

As @janemulberry explained the D visa / residence permit is so that you can live here. Otherwise, you can visit visa-free for up to 90 days in 180.

You do NOT need to be a legal resident (you can be a tourist) in order to buy property. However, non-EU citizens must buy via a Bulgarian company if they want land or a house with land (flats are usually fine to be purchased in your own name).

For pay-monthly houses, nromally it's a contract of some kind, and the seller doesn't formally transfer the property to you (at the notary) until the full purchase price has been paid. You don't need the company until that time.