Purchase process - FINDING

preliminary contractpower of attorney | payments and taxes | registration of a company | accounting


Before starting a viewing tour, it is necessary to identify your specific wishes and requirements for the real-estate you are looking for.

 

To do this, we need to find out as many criteria as possible that will serve us as a filter when creating a list of potential objects. 

Such criteria as:

 

  • type of real-estate
  • location
  • availability of infrastructure or specific municipal or other facilities
  • construction stage
  • height of the building (floors)
  • view from the windows
  • area (sq.m.)
  • quantity of rooms (premises)
  • room layout
  • quality of the construction
  • budget

All this can be easily established through close interaction and open dialogue with us. Only after clearing these requirements and needs of the client, we can make а precise list of real-estate objects for visiting.

LOCAL SPECIFICS – CALCULATION OF THE AREAS

There is an important specific of the local Bulgarian real estate market, which is better to understand in advance, before even starting choosing. In Bulgaria, almost all developers put up for sale the offered areas together with the common parts, and accordingly, the cost per square meter is always included with common parts. Generally, even developers around the world sell all their property together with common parts, namely: entrances, staircases, corridors, walls, etc. All these common parts and areas are divided proportionally among the owners in percentage terms, depending on the proportion of owned living space. The only difference here is a mathematical technique in calculating the price per square meter. It is a marketing trick in order to make individual prices per sq.m. look better (lower).

For example, let's say an apartment has a net area of ​​100 sq.m. at a price of 100,000 euros or 1,000 euro/sq.m. But, given the above, it is necessary also to calculate the common parts. It is very important to be informed of what proportion of the common parts are included in this area. As a rule, this information is always present in all price lists and common parts vary from 10% to 15% and in some cases up to 20+%, which is the case when very large areas fall on common parts - a very large atrium, a large number of elevators, big stairs etc. (this is typical for office buildings or hotels). So, returning to our example, we can subtract the common parts from the area, say 15 sq.m. So at the end the price per square meter form the net area (85 sq.m. in this case) will be 15% higher or 1.176 euro/sq.m. But of course this does not affect the final price, it just presents the price per sq.m. more attractive and low. 

This type of calculation is typical for the entire real estate market, regardless of the type. However it is crucial to be informed, in order not to be disappointed when learning about during viewing specific real-estates.

But the knowledge of these details can affect your decision to buy or not or to be a bargaining argument.