At a certain point in his life, each of us decides to take a major step forward – purchase a real estate. The reasons for this purchase are several – you’re tired of being a tenant and paying someone else’s mortgage; you have enough money and want to make an investment; or just want to take hold of a charming villa to spend your holidays at. Whatever the reasons, the months during the purchase process can prove to be some of the most exciting times in your life. The Bulgarian real estate agency “Address” offers five valuable steps to consider during the purchase of a new property.

1. Calculate your budget!

What kind of credit will I get? Before starting the purchase process you have to calculate carefully the money you have available. If you purchase a real estate with a credit, it would be wise to ask for the assistance of a credit consultant first. He will give you valuable advice on the amount of money you’re likely to receive.

The use of a real estate sales agency is also a good idea, especially because at the current state of the market you needn’t worry about a commission reward for the agency.

2. Find a fitting consultant.

Well-qualified specialists working in your region – and respectively well-acquainted with the market inside the district or village itself – will surely be of good use to you.

3. Inspections.

This is the hardest part for the potential buyer, so make a list of things you consider to be of utmost importance – the amount of noise in the neighborhood, on which floor is the apartment, the condition of the basic accommodations, does the apartment need serious renovation or just a facelift, etc.

Consider how you feel about the real estate itself and think carefully how is it going to fit your current daily routine. Ask questions to the consultant, he knows many specifics about the neighborhood, the quality of construction in the area, etc.

4. Factors for the assessment.

Location and infrastructure – think carefully if the area of the estate you’ve chosen is fitting for you and is the infrastructure satisfactory. Do you have public transport to take you to work, are there convenient institutions nearby – kindergartens, grocery stores, police departments, hospitals, etc.

A typical example – if you like a certain charming house or a garret in a modern suburb, you should most probably take gas expenses for a car into consideration.

Type of construction – brick or concrete is the main question. Everyone knows the advantages of the brick and the drawbacks of concrete, but if brick walls don’t fit your budget, research carefully the construction date of the block of flats. Over the last few years, the Bulgarian market offers new construction techniques – ecological construction and prefabricated houses – they are relatively cheap and have decent thermal insulation.

Distribution of rooms and floor – there are several potential issues with floors. The first and last floor of a building aren’t recommended, but if there’s a significant difference in price, it’s better to take the other factors in consideration first.

5. Conclusion of the deal.

You’ve found your beloved real estate and now want to move in as quick as possible. The conclusion of the purchase process is the finalizing of the deal itself. A notary inspects all documents for errors and verifies the legitimacy of the deal in the end. The new notarial act is added to the national registry.