POSTSCRIPT 2009

It is now 4 years since we embarked on our Bulgarian 'adventure'. When we started we could not have imagined the problems we would encounter. Our decision to spread our risk by buying in three different locations using three different agents we thought would reduce the chance of choosing the wrong agent / developer / location. We could not have envisaged that similar problems would occur with each property.

Buying off-plan - would we do it again?

No. Despite the fact that money can usually be made between the initial advertised price of a property and it's value on completion it really is not worth the delays, hasstle and stress involved. Firstly any given completion date will not be achieved. Each of our properties was delayed by approximately 6 months.

We would now only buy completed properties where we can see exactly what we are getting and where all the initial problems have been resolved.

Agents

Do not believe a word they say. The will basically tell you anything they think you want to hear until they have your money. Once they have your money it will be extremely difficult to get them to communicate.

'Credit Crunch'

Little did we know when we started in 2005 that we would walk into to the biggest economic disaster in the last 50 years. The effect of this is that until the economic crisis eases we have little chance of selling our properties.

Page last updated: 23rd February 2009