Why Going European Could be your Best Investment

By: Elisha Burberry

It's a popular option to invest in real estate nowadays, but British property prices make it difficult to get on the investment ladder. That's why more and more people are starting to look further afield to find a property investment they can hang on to for some years.

The global credit crisis that is affecting life in both the UK and the US has left the Bulgarian property market unharmed, which makes it an even more attractive prospect if you are looking to get a mortgage for a second property. There are many potential opportunities just across the Channel in mainland Europe, but perhaps one of the best lies in Bulgaria. If you are serious about finding a buy to let property here, you'll soon find that your money will stretch a lot further in Bulgaria than it will in Britain.

Of course, if you want to buy property in Bulgaria the process for doing this will vary somewhat from the way you are used to buying property in Britain. That is why it's important to get proper advice and research the process thoroughly before you start to look at the properties themselves. There are many companies who specialise in helping foreigners buy property abroad, and they should be able to answer all your questions and advise you on what you need to do to make sure all the legalities are covered.

As far as location is concerned, property investment in Bulgaria can offer superb recreational attractions. From properties located near Black Sea beaches, to those nestled in the heart of the countryside, to the snowy ski resorts of Bansko, you are sure to find somewhere that will fit your needs.

You will also need to consider how you use the property, as this could affect how you rent property in Bulgaria. For example, are you going to rent it out all year round, with a view to perhaps moving there once you retire? If so, you can look for a long term tenant to occupy the property while you are not there.

However, some people only rent out their property during certain months of the year - perhaps as a holiday let, for example. This then leaves the property vacant for them to occupy at pre-arranged times of the year, when they themselves need a break.

One key point to remember is to make sure you have enough money in hand to make any improvements that are necessary when you buy your home in Bulgaria. In all the excitement it's easy to forget that you - or your tenant - may not be able to move straight in, so make sure any necessary work is completed before you get your investment working for you.

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