Realistic plan to buy and resell / rent out to tourists?

We have your perfect place for sale, how can we contact you with details?
We are not agents, we are private sellers and my wife also speaks Russian.

You can contact me via message here. Just click on my name and then Send message. We can switch to email there.

Whether you will be able to resell your home (or rent it) will depend highly on its location.

I see a lot of expat homes sit on the market for a considerable amount of time (as in I've seen some of the same homes listed for over three years now). One of the issues is that many expats coming to Bulgaria are wanting to buy super cheap properties, so they are not always interested in a renovated property unless it is a steal (therefore not really a good deal for you). Most Bulgarians are not interested in buying village properties these days (some are, of course, but it is a small market).

So if you plan to rent out or resell your property, make sure it's located very near or in a city. Or in a desired summer area. Also check the properties currently listed. If there are a lot of expat homes listed (You can usually tell by the decor that it was redone by an expat) then you might pass on that area, because your chances of reselling are lower. (I'm thinking Gostilitsa by Veliko Turnovo specifically- it's popular with the expats, but the houses just sit there for years).

Renting out may actually be a good idea, because it is difficult to find houses to rent in Bulgaria (apartments are available, but most people don't bother renting houses). If you are doing a long term rental, finding an agent to manage the rental will not be an issue. For short term rentals, you may have more difficulty finding someone you can trust.

Any thoughts on renovating a property in a village which has a new hotel, two large outdoor pools and is open to non residents for use of pool with sun loungers for a nominal fee. It has a restaurant and snack bar and is extremely busy all through the summer?

kojidae, thank you so much for the info! All makes sense.
We are in a good position that our life won't depend on renting it out profitably or even reselling, but it would be good to know what to expect.

Maybe you can help me with two more things:

1. When you say "make sure it's located very near or in a city. Or in a desired summer area. "
What about popular ski areas or simply for hiking, fishing etc.? Like Seven Lakes. I really like hiking myself and I can imagine to market this property to people who like this too, or just want tours in the area. Maybe I will even do the tours myself at some point!
Or is it just cities and coast?

2. If we give up the idea of renting, would we still need someone on the ground to look after the house while we are away? I mean it probably highly depends on the location. Or do you think it is not necessary? We are not going to store anything super valuable or even have expensive furniture. But not sure if there are other things to consider...

thanks again!

Winter areas can also be a good choice, for sure. So mountains are fine. Just as long as it is near to civilization. A lot of expats buy in villages that are dying, and then wonder why they can't sell for a profit two years later when the village has maybe one small store and no other services. For example, we are in Gabrovo. Near to Gabrovo are many villages with houses for sell. In the growing villages, these houses will likely resell easily. But in the dead areas, not so much. (Basic logic). Just make sure the infrastructure is there.

If you decide not to rent it out I would still hire some sort of property manager to look after the place, checking on it occasionally. Unfortunately, theft in Bulgaria is a problem, especially in villages where houses are not inhabited year round. Even without expensive items in your home, you are at risk of having the electrical wiring stolen. So, you may want to set up a cheap security arrangement with a security guard who occasionally checks on the property or have a property manager. That isn't to say that you will be targeted, but it is a risk to be aware of.

"you are at risk of having the electrical wiring stolen" ... I like that !!

if you just go a little deeper into this topic the conclusion will be 110 % similar to my advice a couple of months ago.

and I really think that you need to explain Bruce exactly what areas he has to avoid when selecting a location for his property.

Sorry Bruce, this has nothing to do with you, just an old topic .... and the loss will not be limited to the electrical wiring.

You really want to bring this issue up again? The difference is that your "advice" a few months ago pinned theft in Bulgaria on a specific ethnic group. Mine just states that theft does happen without making racist assumptions about who is stealing. (And let's be honest here, it is NOT just one ethnic group).

I'm not sure why you think I have to explain what areas of Bulgaria to avoid? I am not an expert in which areas people should avoid, besides the general advice of underpopulated villages. If they end up looking around Gabrovo I can share my thoughts on specific places, but not really relevant for the rest of the country.

Thank you all guys. We will travel around Bulgaria this spring and summer and hopefully will find a nice place!

I see, actually that's quite close to what I expected from you ... )

I hope I was politically correct enough, so that I am not called a resist again, and in the same time clear enough to inform you how to stay out of trouble and how to invest in a safer area.

All the other considerations are valid:
* Decide what you want to do with your property well in advance:
* If you plan to rent it out - consider what will search for your future clients - a mountain, seaside, rural or urban accommodation;
* if you plan to resell it, then take into account the price dynamics in urban/rural/resort areas

And just to add a point, if you plan to make profit from it, then consider buying a property that you can short let through sites like AirBNB, so in this case you should focus on either urban property, or resort areas property, having in mind that resort areas have a fixed seasons of 3-4 months per year.
The last does not apply for mineral water resorts/SPA.

kristiann, thank you so much for the detailed info. I know what you are talking about. And sure, everyone tries not to be racist. In my home country they were our neighbours and didn't even hesitate to steal stuff from my blind grandfather.

Is there a good way to see if I should stay away from an area? I mean of course I need to come myself and see, but can I ask local Bulgarians if there are such people around?

It is going the direction that we will either just rent it out in some ski / hiking / spa area, or just keep for ourselves as holiday home. If we don't rent it out, what would you recommend to ensure our property remains safe? If we find a location which seems to be generally free from the "bad people", can we generally just leave it and maybe only ask the neighbours to keep an eye? Or would you still recommend to find some "professional"? ...I mean even if we pay someone, this person will not watch it 24/7...

It is absolutely no problem to ask the locals if there's a compact gipsy community nearby. They will gladly inform you. You can also ask the taxidrivers, they know everything.

Ensuring your property depends on where it will be. Better select a house surraounded bu houses owned by Bulgarians. This will significantly decrease the risk. Another option is to place metal security grids to the windows/doors. This will stop the gisyes, but will eventually attract the attention of s.o. with a higher level of skills.

Paying s.o. to take care of the house is actually not a bad idea. I myself own a house in a remote village, close to the border with Greece. Since I visit the house quite rarely, an old lady is taking care of the garden there. In this way the house looks "maintained" and it is more plesant when you go there.

Another option is to hire a professional company that will install electronic sequrity system and will send guards to check  it everytime it signalls. Payment is on monthly installments. Here's one such a company:

SOT

But I actually do not think there will be much to guard in your vacation house. Probably metal sequrity grids will be enough.

thank you so much for your detailed response. We start exploring Bulgaria next week. Let's see!