An investment property by the sea - everything you need to knowHave you ever dreamed of owning a beachfront home that you can use for your vacations and rent out when you're not there, using the rent to cover property costs and make a profit?
Investing in real estate is something that all rich people do. And even if you do not intend to earn millions from it, owning a holiday property by the sea can bring you extra money and security.
And since buying an apartment by the sea is a serious step that requires a lot of money, here are 5 steps that will help you navigate more easily.
- Choose your property in a place visited by many tourists
When it comes to the Bulgarian Black Sea coast, without a doubt these are Sunny Beach and Saint Vlas.
- Calculate income and expenses well
Example: If the monthly operating costs of the property, mortgage, taxes, and insurance are BGN 1,000, and the rent by a night is BGN 150 with the occupation of 100 days per year, you can calculate your potential yearly profit as follows:
Potential annual income: (150x100) - 1000 * 12 = 15 000 - 12 000 = BGN 3,000 profit. 1 EUR = 1.95 BGN
In this example, the property is monetary positive if it has been rented for 30 days throughout the summer season. Also, keep in mind that this way you will not have to pay the mortgage with your own money. The property is self-sustaining and you even have a small profit.
- Trust a professional when promoting the property
- Take advantage of the service: maintenance and cleaning
If you hire a property manager, they usually handle these operations for you. If you buy your holiday property from Harmony Suites, you can be sure that your apartment will be maintained in the best way and by qualified staff. Our staff will take care of the cleanliness of your property, and you will not worry if everything will be fine for the next tenants.
- Build a property management system
Buying a holiday property for investment purposes on the Bulgarian Black Sea coast can be a great way to invest in real estate, offset some property costs and still enjoy your favorite vacation spot from your own second home. If you are still wondering whether to take this step, we can help. Harmony Suites offers studios, one and two-bedroom apartments in one of the most visited resorts on the Black Sea coast. Contact our consultants who will answer your questions, explain the procedures, and show you the vacant apartments we offer.