There are currently well over 10,000 Brits living long term in Bulgaria with most living around the inland region of Veliko Turnovo and coastal region of Balchik.

The majority of Brits living there are retired or semi-retired and enjoy a very good lifestyle due in part to a very low cost of living in general and no tax payable for example on interest from savings in Bulgaria. However, there are things to consider when it comes to buying in Bulgaria:

REMEMBER THE 3L’s – Location Location Location

  • Where is the property exactly?
  • What are the neighbours like?
  • Does the village have good amenities? Some villages have very fast broadband while others are as slow as dialup – think seriously about what you can and can’t live without!

    • Size matters

  • Consider the amount of land that comes with the property – will you be able to manage it if you’re back in the UK a lot? Is it fully legally regulated for house building purposes?
  • Buying a plot of land may be the best way to build your bespoke property but around 500-600sqm will not be large enough to build that 4 bedroom dream home with a swimming pool you wanted!

    • How much work does it REALLY need?

  • Some older houses may not have been built to modern building regulation standards with basic necessities such as a damp proof course and quality insulation and often the basic concrete structure will need some work. Think seriously about the cost of a full renovation or more often than not, a total rebuild.
  • If you’re able to live in the property while you’re renovating this will save you a big expenditure – does the property have all the utilities connected?

    • Have you been there?

  • How well do you know the house and the area? Does the area tick all of your required boxes such as south facing gentle hillside etc?
  • Ensure that you’re not going to have any nasty surprises by making sure you know all about the property and area before you buy.

    • Consider alternatives to traditional off-plan properties or renovation projects such as self-build for example. Walnut LLC have a unique and exclusive concept in which buyers choose their own minimum quarter acre plot of regulated land with planning permission in a good area with known neighbours for self-building. Buyers have the option of choosing their own builders or builders recommended by local project managers, so that you have total control of what is built. All new buyers on the site have their project pre-approved to stay in-keeping with the ‘feel’ of the site, and to preserve the views and landscape.

    Make sure you consider all available options before buying, whether in the UK or abroad and above all ensure that you do your research. For more information contact Walnut LLC here or on 44(0)1344 486396