Expat Community > Bulgaria

Edislaw
Joined 2013
Posts: 13

Property Deterioration while For Sale

11 years ago

For anyone wanting, or needing to leave Bulgaria it must be a huge problem deciding what to do about your home when leaving it behind for sale. First, any property left empty starts to deteriorate immediately; plants die, the pool turns green, small maintenance issues become huge problems. Empty houses become a target for break-in and the insurance company may be unhappy about a long term vacancy.

Internationally, house-sitting websites are doing a roaring trade. House-sitters work on standard contracts of several months duration, they pay no bills and live rent free. Nice work if you can get it!

As an alternative wouldn't it make sense to come to an agreement which could be terminated at short notice in the event of a sale and enjoy some rental income? Renting at a rate which may be a little lower than is usual to a couple who agree to maintain the property; water the flowers, clean the pool, deal with these small maintenance issues and pay the day to day running costs must be better than sustaining an ongoing financial burden. A house which is lived-in is also more likely to sell. Don't rely on your estate agent to find tenants or conclude an agreement, they are generally only interested in their commission from a sale. We've even experienced agents who respond to potential tenants with the fiction that their clients have no interest in rentals but have forgotten to consult the client before passing on their fictitious message.

There are people around who have a need for a longer term but flexible arrangement My wife being an example as we are looking for our own property in Bulgaria. People like us may even end up buying your property after moving in and discovering its benefits. They re usually older and more settled people and often have plenty experience with their own properties. Take us as an example; we and ran a small hotel which made us very self-sufficient. We are used to doing our own cleaning and maintenance, meeting and greeting people and keeping a property in tip-top condition. We're not at all sure where we want to live so would have no problem moving on in the event of a sale.

If you do have a house for sale and it is costing you a small fortune to maintain, if you worry whether it is being shown to best advantage, need someone to care for it in your absence who will pay you for the privilege tell people by posting a message on this board or just send us a pm.

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SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

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Property Deterioration while For Sale

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