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Fletch
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PostSubject: PRICES   Mon Mar 21, 2011 6:07 pm

First topic message reminder :

Over the past year I have been fascinated by the price of things that are up for sale. People ask a price at the beginning which when the article is not sold, they drop, which is a sensible thing to do if you wish to sell something if the asking price is not paid in the beginning. Most people always ask what they would like at the beginning then are prepared to negotiate. Items that are used always have had a re sale value, take cars depreciation set at a % if in good condition etc, when we buy an expensive item such as a car most people surely look at whether that model etc holds its value.
Property, in Bulgaria at the moment the drop in asking prices for re sales in just unbelievable, some even being sold at half what the person paid in the beginning, I am not just talking apartments in the coastal resorts but it is now evident in village properties. I am only talking Bulgaria, which leads to me to my questions

1. Do you think that people are doing this because they are selling up and just want to get something for there property and are prepared to take a loss

2. Or that they bought items and property thinking that they would make big profits when selling these in Bulgaria, and property would be worth a lot more in a few years, so now are just trying to off load items even at a loss

3. Or are second hand items now worth nothing,

Just interested in what other people think

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citman.
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PostSubject: Re: PRICES   Mon Mar 28, 2011 6:39 pm

Thanks Oldun, may I ask which bank that is, please?
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Fletch
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PostSubject: Re: PRICES   Mon Mar 28, 2011 6:43 pm

You will need to shop around for the best interest rates. Although I doubt if you will be able to live on just the interest, although it sounds a lot of money and yes it is you are still quite young. Many have come with money and no other income and have given up and gone back, money can soon be eaten up. Bulgaria now is not that cheap, and in fact food is cheaper in the UK overall. My biggest concern is that you are going to be bored after a period of time, I think that I know where you are in Bulgaria so you are going to need a car to get about and petrol, tax every year on your vehicle to the Municipal which has been allowed to increase this as they like even with a luxury tax for some vehicles and houses, a little of the unknown at the moment. During the summer months living the quite life is great but come the winter this is when you can start to go a little stir crazy, a night out can cost quite a bit once you add a taxi to the evening, which if you intend to have a drink has to be done. I dont know you, so maybe I am talking rubbish and you will love the simple life, but I will say finding a job is very hard, but I wish you luck and I hope it all works out the way you want.

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citman.
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PostSubject: Re: PRICES   Mon Mar 28, 2011 7:00 pm

[You must be registered and logged in to see this link.] wrote:
You will need to shop around for the best interest rates. Although I doubt if you will be able to live on just the interest, although it sounds a lot of money and yes it is you are still quite young. Many have come with money and no other income and have given up and gone back, money can soon be eaten up. Bulgaria now is not that cheap, and in fact food is cheaper in the UK overall. My biggest concern is that you are going to be bored after a period of time, I think that I know where you are in Bulgaria so you are going to need a car to get about and petrol, tax every year on your vehicle to the Municipal which has been allowed to increase this as they like even with a luxury tax for some vehicles and houses, a little of the unknown at the moment. During the summer months living the quite life is great but come the winter this is when you can start to go a little stir crazy, a night out can cost quite a bit once you add a taxi to the evening, which if you intend to have a drink has to be done. I dont know you, so maybe I am talking rubbish and you will love the simple life, but I will say finding a job is very hard, but I wish you luck and I hope it all works out the way you want.


Hi Fletch, sounds like you are saying that the lack of mental stimulation may be a bigger problem than the money aspect. Perhaps I may need to bring my book collection with me and when i've re-read all of those perhaps I could try writing one. I can always find something to fill my time. I think that I am suited to the quiet life but am not too sure about my wife. She seems all in favor of this move and I would hate to see her making a mistake. With this in mind I am doing as much research as possible and pushing her to do the same. From what i have seen on my trips to Bulgaria ex-pat couples have to be either very strong together to survive or use alcohol as a daily tonic!
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varnagirl
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PostSubject: Re: PRICES   Tue Mar 29, 2011 7:20 am

[You must be registered and logged in to see this link.] wrote:
. From what i have seen on my trips to Bulgaria ex-pat couples have to be either very strong together to survive or use alcohol as a daily tonic!

well observed , as mostly true.... I do wish you luck and hope all works out well for you

when reading all the forums , as one does . most people seem to say 1000 -1200 lv a month ,per couple, for living expenses...at the moment , in some cases that does not include all bills
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Fletch
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PostSubject: Re: PRICES   Tue Mar 29, 2011 11:23 am

Yes your observations are true, either you have to have a strong relationship or as some do turn to drink. What I am going to say now might sound really stupid but to me are relevant and things that should be taken into account.

1. Always having dirty shoes, muddy in the winter and dusty in the summer,

2. Lack of just being able to pop out and walk around the shops and then meet a friend for a coffee and chat or just being able to pop down the pub and see someone that you know.

3. The everyday things that you have taken for granted in your life for years believe me you do miss them

4. Just doing a simple thing like going to the bank with a question etc that will take you all day.

5. Rudeness by this I mean people who just start talking to the bank clerk when you are already speaking to them, and not just in banks anywhere

6. Taking your life in your own hands everytime you drive anywhere in the end this does get on your nerves.

7. The big tut everytime you go into a shop as they have to serve you.

8. Even if you are not big people who go to the pictures of the theatre its just the fact you cant do it.

I could go on for ever but these are only small things but as they say from acorns grow trees.

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PostSubject: Re: PRICES   Tue Mar 29, 2011 11:27 am

I have been watching this topic and although it may have digressed slightly I have to say that what's been said here I find very informative so I applaud you all for your contributions

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oldun
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PostSubject: Re: PRICES   Tue Mar 29, 2011 4:14 pm

Yes I thought we were going a bit off topic but the heading is PRICES and its all inter-connected really as to why folks are dropping their asking prices for property.
I agree with most of what others have said and I sincerely think that boredom is a big problem for many after the rushing around of renovating for a couple of years. Spring is busy with gardening but when the temperatures soar many Brits can't work in the heat. Winters are not too bad weatherwise USUALLY as long as you like snow, but it is mainly an indoor life. Reading, TV, internet comes into its own even if you aren't a computer fan.
My hero spends hours chopping, and stacking wood for the woodburner which, fortunately, he loves doing and gets him outside and keeps him fit. I am happy just feeding my animals and walking the dog for my outside life but it could be stultifying for someone used to a more active life.
I think its a good idea to work out what is really important to you for your leisure hours in Britain and ask yourself if you would miss it. The only thing I miss is theatre because my daughter is in the profession and I used to go to all her first nights. However, that was so long ago and now I have finally given in to Facebook, I have found a few friends to chat to in the business. I go to the theatre on my annual visits to Britain to make up.
Without knowing you, its difficult to advise. All any of us can say is based on personal experiences. I am happy with my village social life with some of the local ladies and my hero enjoys his daily visits to the shop and small bar where he keeps up with village topics. Neither of us have much interaction with British folks. When I go to town, I nearly always meet people from our village and enjoy the bus ride there and back but I don't think many British people would find the same enjoyment from this kind of life.
I bank with UnicreditBulbank and I find them very helpful and its a huge new building in VelikoTurnovo. However, many people will have their own preferences as to banks but its wise to stick to one that has branches in several towns. When transferring a large amount of cash its a good idea to use a finance company like Currencies Direct, Moneycorp etc as their charges are much cheaper than any bank and have varying ways of getting the best exchange rate. Using an ATM can really get very expensive.
As I mentioned, we live comfortably on 1,000levs pm and sometimes a lot less, but that is just the way we live with no eating out or socialising. If you go to the coast in season I would expect it would be quite expensive to have a night out as Fletch said.
Have to say, I have not had any bad experiences when shopping. Quite the reverse. In fact today I was shopping for a gift for my hero's birthday and the girls could not have been more helpful. I ended up buying myself a pretty nightie as well because I felt so happy in the shop. If you read forums a lot you will get very mixed reviews about everything Bulgarian but in the end you will make up your own mind.
To go back to the original question, I think the main reason that people decide to leave Bulgaria is not about the money but about the lifestyle here and what people miss in UK that they never considered before as being that important, so take care when you watch the finances. Although a lot is cheap here, it is getting more expensive and will probably continue to do so. On first arrival there will be some big spends on renovating so be careful. Be prepared for a big culture shock!
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thetravelbug
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PostSubject: Re: PRICES   Tue Mar 29, 2011 4:16 pm

Completely agree with what you say Fletch, some of these things drive me crazy!
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oldun
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PostSubject: Re: PRICES   Wed Mar 30, 2011 9:29 am

Forgot one more thing. I think it was Fletch who mentioned relationship breakdown. From what I know, relationship breakdown is another big factor in having to sell if both parties are involved in the Company which has to be sold as an asset. My own daughter is going through this. When you say you are worried if your wife might the one to get bored, do not underestimate her views on this. It is a great shame when a house has to be sold below cost or one that has been loved.
I am again fortunate, that my other half and I have lived and worked together 24/7 for years and so that is not a problem. Life is not perfect even for us and I think I am probably the one with the itchy feet occasionally, and I truly worry about younger folks with years of work still in them, that it may all come apart at the seams. However, I still love my Bulgarian life 90% of the time and I think there are others who do too, so I am not against anyone starting a new life. Some adapt more easily than others, thats life. Much like the media, its the bad news that gets reported more than those of us who are happy. s
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itchyfeet
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PostSubject: Re: PRICES   Wed Jul 06, 2011 4:40 pm

[size=50:1dn4idvy]Daily Telegragh

[size=150:1dn4idvy]Nearly half of holiday home owners 'trying to sell'
The dream of owning a holiday home abroad has turned into a nightmare for more than half a million Britons.

Perfect escape: Britons love their holiday homes, but many admit they struggle to afford them.
Weak sterling, rising bills and the impossibility of selling up all add up to a financial horror story for those who used to look upon their foreign holiday homes as means to escape from their daily cares.
According to a survey by foreign currency specialists HiFX, over the last 12 months 39 per cent of Britons with second homes overseas say they've found them an increasing financial burden.

And more than half (53 per cent) admit to losing sleep worrying about their homes or say their holiday homes are making them struggle to keep their heads above water financially.
As a result, 61 per cent of those holiday home owners surveyed said they made a loss on their properties last year. It's understandable then that given such misery, 44 per cent are trying to sell up.
But the UK isn't the only place with a slow housing market. Of those holiday home owners trying to sell, 12 per cent have had their homes on the market for more than a year.

Owning an overseas holiday home has become a problem thanks to a number of factors. Exchange rate volatility was blamed by 77 per cent of those surveyed for turning their foreign asset into a burden. Nearly half (45 per cent) said a rise in costs such as maintenance, utility bills and taxes had caused the financial problems.
HiFX says two years ago, the typical overseas home owner moved £10,000 a year to cover costs – including maintenance, bills, mortgages and spending money for their visits. This has now increased to £13,000.
However, second home owners are trying to improve things, with 25 per cent increasing rental costs over the peak summer season to help cover their bills. But far more – 53 per cent – said they will still rent their homes to friends and families at cheap rates.
Mark Bodega, director at HiFX said: "
For many, a home abroad used to be seen as a place to escape to, somewhere to relax away from their everyday lives. However over the last year currency volatility, rising costs and falling rental income has caused significant anxiety to holiday homeowners, turning the joy of owning a place in the sun into a financial nightmare."


He added that those wanting to sell their homes but who are unwilling to cut the price should take the weakness of sterling into account. Had you put your Spanish holiday home up for sale for €200,000 a year ago and sold it, you would have received £162,000. Today, you'd just have to sell for €168,000 to receive the same £162,000: so even though you're selling for less than a year ago, exchange rate movements mean you might feel able to take the hit.
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oldun
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PostSubject: Re: PRICES   Thu Jul 07, 2011 9:25 am

That last comment is absolutely true in my case. I sold my beautiful Spanish apartment on a lovely site for less than I paid for it and including the furnishings etc. However the upside was that I got my tax back because I sold at a loss and due to the exchange rate back to sterling put a bit more into the pot.
That article is very true on all points and the reason I had to sell. I was very fortunate! s
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Blink
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PostSubject: Re: PRICES   Sat Jul 09, 2011 7:57 am

I think what has been said here is true all around the world at the moment there are owners who are having to walk away because of the spiralling cost of maintenance and tax's etc but the problem lies in when will it all end? I don't think it will be any day soon and |I think that in some cases it will get worse before it even starts to show any signs of getting slightly better.
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oldun
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PostSubject: Re: PRICES   Wed Jul 13, 2011 1:51 pm

I think you're right Blink - it won't be anytime soon but the wheel will come round eventually. Believe it or not, there are Bulgarians buying in villages. We have 3 very big newbuilds going on right now in our village and we have a local man interested in our property. We will have to sell at a much lower price but taking all into account its possible we will all be happy.
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PostSubject: Re: PRICES   Fri Jul 15, 2011 11:48 am

I agree with you that sometimes you have to take a small loss and be happy about it but in some cases I do understand this is not possible and the situation then gets worse and you become very unhappy and broke. s
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oldun
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PostSubject: Re: PRICES   Fri Jul 15, 2011 12:43 pm

Unfortunately you are right Daisy.
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