Sofia

Buying A Property in a Gated Community in Bulgaria

06 Sep 2018
In recent years there has been a rising interest in purchasing higher class properties in gated communities in Bulgaria. Potential buyers are looking for a higher standard of living, guaranteed safety, an aesthetically pleasing environment and additional extras that gated communities usually offer.

If you are interested in buying or renting a property in a gated community, but are still not quite sure, professional real estate consultant First Estates has compiled a list of key points to help you make an informed decision!

4 ADVANTAGES TO BUYING IN A GATED COMMUNITY

1. Safety
Properties in a gated community are usually guarded 24/7 and outside access is strictly monitored.

2. Green communal areas
in gated communities make properties here an appealing and desirable alternative to public parks, which are often poorly maintained. Many gated communities have children’s playgrounds, offering a safe playing environment for families with young children.

3. Sports facilities
Many offer sports and recreation facilities such as SPA centres, pools and gyms, which are available to property owners, offering an exclusive experience at any given time.

4. Strong community spirit:
Shared values with your neighbours increase the sense of comfort and satisfaction with your living environment.

Owning a property in a closed-type complex offers some undeniable advantages, but if you’ve decided to purchase your dream home, you need to be aware of some important facts associated with acquiring a property of such type.

4 MAIN FACTORS IN GATED COMMUNITIES – WHAT YOU NEED TO KNOW

1. Prices
Prices are usually higher than average. Maintaining and managing such complexes requires serious financial resources and you will need to be prepared to allocate some additional funds for that.

2. Maintenance taxes
These vary based on the infrastructure of the specific complex and the square footage of the property. A general rule of thumb is: between 50 and 150 EUR a month for one or two bedroom apartments and between 100 – 300 EUR for a house or an apartment with 3 or 4 bedrooms. Extras such as a SPA, fitness, tennis courts, etc. all increase the maintenance costs.

3. Location
Gated communities aim to provide their residents with privacy and tranquility so they are often located on the outskirts of the big city. If you’re looking for a dynamic lifestyle and enjoy city life then you might find the social life within a gated community to be a bit too quiet.

4. Transportation
An out of town location means there is rarely good public transportation to other parts of the city.

You should always pay close attention to the construction quality and current level of maintenance/management of the complex. Do not underestimate the surrounding environment and try to find out some background information about life in the community and your future neighbours!

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