Do you want to buy vacation property for investment in Sunny Beach? If yours response is Yes, you may find some advices bellow. It is clear to everyone that buying a property is largely an emotional decision. Of course, there is nothing wrong with this, but still, ignoring the emotions for a moment and putting a little common sense in deciding on an investment will certainly help you avoid further disappointments.
Prices per night
First of all, research carefully what is the price at which you can actually rent the property. Many people are misled by unrealistic expectations about the prices per night they can achieve. Do not just believe the stories of friends. Also look in detail at property prices similar to the property you have decided to buy in major rental platforms.
Advertising costs
Calculate correctly how much it will cost you to advertise the resale property. The main mistake is to rely on friends and acquaintances as potential tenants. Practice shows that achieving good prices and optimal employment is impossible without serious effort and a lot of advertising costs. Keep in mind that serious platforms that will really generate reservations for your property are not cheap at all.
Estimate the cost of accommodation for tenants. Don’t underestimate the cost of cleaning. Take a real look at the possibilities and costs of hiring a person or company to carry out this activity. Our practice shows that many buyers completely ignore this cost, and in fact it is perhaps the most important for achieving a good return on rental properties.
Maintenance costs
Don’t forget to calculate the maintenance costs of the property. If you are buying a property in a complex that offers additional amenities such as a swimming pool, spa, etc., find out how much their maintenance costs and who actually maintains them. If the maintenance of the property is entrusted to a management company, find out whether this company maintains quality complex.