Choosing a property, whether for investment, living or as a holiday home, has never been an easy task. Some of the most important questions that come to mind are: What should we choose? Old or new construction? A property under construction or a completed one?

It is a well-known fact that Bulgaria's building stock is old. Despite the efforts of the municipalities to reconstruct older buildings, interest in apartments in them is declining significantly. This is also the reason why new buildings in our country have been constructed at an unprecedented pace since 2010. This is also shown by NSI data from the end of 2021, which make it clear that in the last quarter of the past year 1,329 residential buildings were put into operation, or nearly 44% more than in 2020. 

Is there interest in properties in buildings under construction 

The answer is yes. Interest is growing year by year, thanks to the many advantages that properties under construction offer. Buyers' desire to acquire their dream property, with a good layout, in an area with good infrastructure and all this at an affordable price, can turn out to be mission impossible, especially in older buildings or already completed ones, where the choice is limited. Our consultants' experience shows that nearly 90% of the homes in newly built apartment buildings are sold even before they are put into operation, and then resold. It is an undeniable fact that the risk in this type of transaction is high, but let us look at the advantages of this type of investment, which are certainly more than the disadvantages. 

What will the buyer who invests in a home under construction get

Price

The first and most important factor for buyers has always been the price. When buying this type of property, you are guaranteed the lowest possible purchase price, or in other words around 15-20% lower sale price, compared to the price you may get once the residential building has received ACT 14. The obtaining of ACT 15 and the subsequent commissioning of the building will lead to a further increase in prices. In addition, payment schemes for transactions involving properties under construction are usually flexible, and everything regarding the term and the price is negotiated before signing the preliminary contract. This in turn gives you the opportunity to acquire a property without having to resort to a bank loan, as the deadlines and payments at the different stages of construction give you the opportunity and time to plan your finances well. If you still want to get help from the bank, it will have the opportunity to grant you financing after the building receives ACT 14.

You get the best

The next advantage of this type of transaction is that you have the opportunity to choose the most suitable home for you and your needs. Here we take into account the floor, layout, exposure and the possibility of redesigning the property you have chosen without affecting the structural integrity and the façade harmony of your future home. It is important to mention that the earlier in the construction process you decide to buy a property in such a building, the greater the choice you will have. And to spark your imagination a little, we will give you a few ideas that you can implement when redesigning your new apartment. Some of our clients choose to remove additional walls in order to get a more spacious apartment, while others put them in to get additional rooms. So, for example, you can easily create the walk-in wardrobe of your dreams, make room for a bathtub in an otherwise small bathroom, or make your kitchen wider and brighter.

You see the entire construction process

This way, you can monitor how the project is being carried out, whether deadlines are being met, what materials are being used and the overall quality of construction, since it is being done literally before your eyes and in real time. 

Opportunity to buy a garage/parking space in the building

The problem of parking and car theft in Bulgaria's large cities is a sensitive topic for most people who have private cars but do not have parking spaces or garages. By buying a property at an early stage of construction, you have the opportunity to secure a parking space for your car quickly and easily, and in this way you guarantee peace of mind as well as an additional opportunity for a good return on investment. 

Minimal costs and higher value

As a rule, in off-plan/under construction transactions, the notarial deed is drawn up after ACT 14 is received, which postpones the costs associated with obtaining it to a later stage. On the other hand, as construction of the building progresses, the value of the property you have purchased will increase. In this way, you secure a guaranteed profit and peace of mind for future investments. 

At “Titan Properties”, transactions for properties under construction are concluded without a buyer's commission, which helps minimize your costs.

The bottom line

Buying a property at the construction stage can bring you the opportunity for a big profit, as well as make your dream of the perfect home come true. Don't forget to contact a consultant who will guide you and help you make all the important decisions throughout the entire transaction process. Take a look at our offers for properties under construction and new construction here.