How I purchased ski resort apartment for 15.000$
I remember this perfectly: seven years ago, a friend of mine came back from a ski holiday. He was amazed how Bulgarian ski resort Bansko rises as one of the leading European ski heavens. What intrigued me instantly was his story about incredibly low budget apartment purchase option in Bansko. My topic to explore was set. I searched everywhere, getting more relevant information, thus discovering incredible opportunity. The whole story begun in 2005., with serious marketing campaign to promote Bansko as ski resort. Furthermore, it emphasized direct investment in real estate, targeting British and Russian potential buyers. Property prices slowly increased, but were still incredibly low, compared with similar offers in Zermatt, Cervinia, Val d’Isere or Chamonix. In addition, everybody rushed to buy their piece of paradise. New hotels and apartment complexes were growing like mushrooms after rain as a result of enormous demand. Then came a shock – world crisis.
Conversion happened rapidly. From a top real estate market in Bulgaria, prices in Bansko were down from 40 up to 70% of the initial price. I thought 2011. was the right year for me to make a step forward, and finish my apartment purchase in Bansko. Reality shown that financial situation was not stable enough for me in that moment. My dream needed to wait. Year after year, I was tracking lucrative deals, choosing most reliable and respectable real estate agencies, and it was unreal, how cheap offers could be found.
Our apartment resort in Bansko
Then came October 2018. Apartment prices in Bansko shown slight increase. Many of them were already sold during past six years, and I was aware: it was the final moment to buy or maybe I will never do it. I checked a few options, only by seeing photos and videos of the properties, and I’ve made my choice. It was barely used, charming studio of 410 square feet or 38 square meters, completely furnished. I mean really, completely furnished. You just need to enter it, bring your bed linen, and you can start living there. I had all details about the buying procedure and everything looked to simple to be true.
Without seeing an apartment personally, I paid non refundable deposit of 2500$, to secure it until I come to see it and sign all the papers. From the real estate agent, everything was done perfectly. I hired Bulgarian lawyer as well. That lady, who did majority of paperwork, was a master class one. Just a month after paying property deposit, I was there in Bansko, inspecting personally my apartment, strolling down the Bansko old town, admiring mountain peaks and ski slopes. Everything went way beyond my expectations. Only 15 minutes walk or 4 minutes drive by shuttle bus from the main gondola , my own piece of paradise was bought for exactly 15.000$. It was located in a beautiful 4 star apartment complex, with swimming pool, jacuzzi, sauna, gym, elegant lobby and a very nice restaurant.
Elegant lobby of the apartment complex, Bansko
Only extra costs are around 740$ per year for maintenance fees plus 35$ per year for the property tax. Electricity, heating and water bills, I pay only when I am staying there, and those will be in range from 50$ monthly in summer to 175$ during winter period. First night, sleeping in my own apartment. Wow. I was standing there, in the middle of the room thinking: for similar real estate adventure in Italy I would need to invest at least 85.000$, in France 120.000$, and in Switzerland minimum of 200.000$.
I was so proud and happy for my apartment purchase in Bansko.
My charming studio, Bansko, Bulgaria
My furnished studio is ready to move in
Next morning, I enjoyed fascinating view from my balcony, over forests and peaks of Pirin mountain. It inspired me, and assured me that this is exactly what I need for my family. I tried to embrace tho whole town and surruonding nature, and somehow introduce myself. “It is so nice to meet you Bansko.”
“I am Jonnie World Walker, and we will stay in touch forever.”
Travel Authentic. Live Inspired.
I love idyllic winter in Bansko
Notice: images are made by Jonnie World Walker team.
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There is still enough time to secure your piece of Bansko ski resort paradise. Check out latest fascinating property deals from Sun Homes Overseas Real Estate Company, which I used to buy my charming family studio!!!
