Good Idea or Bad Idea

[SpudHead]

Hi

I was just wondering what people thought about buying a studio apartment at Nessebar Fort Club for investment potential.

i.e. If I was to pay about ?20,000 for one, do you think I would make money or lose money....in say, three years time.

Thanks for you help and advise.

Spudhead

[DAJ]

Hello I think that in three years time you might make some profit but as Fort Club is on the other side of the main Varna-Bourgas road it is a long way from the heart of Sunny Beach and the sea.I have just returned from S-Beach and was strongly advised that only property within 300 metres of the beach is worthwhile for future investment.As I said you would make some gross profit but all the fees of the buying and selling process would eat this away ie solicitors,notary,gains taxes etc etc.Many people are fooled into thinking that buying the cheapest apartment is a good thing but I have been there many times and you do only get what you pay for,the cheaper less well positioned apartments will be much harder to sell on in the future than the ones at the front and although these people laid out more money their gains will be far greater.Good luck in whatever you do.

[SpudHead]

i cant believe over 140 people have viewed this and only 8 have voted.

it wont bite

[Kyle]

Its the nature of forums, the vast majority of people like to read, rather than take part. Just like sports, really.

[SpudHead]

are you kyle from fn-owners.co.uk ?

if so, then thanks for setting that forum up. its been very helpful.

if you are not that kyle then nevermind

[Charlie&Elaine]

Hi
There is always a risk. Yes the development is a distance from the main beach etc. and on the edge of the Town at present. but the surrounding area is to be developed so where will it be in 6 or 7 years time ? when if you sell then you will not be liable for capital gains tax. It also next to the water park, and when you look at some other holiday destinations i.e. Spain (say Bennidorm) it is not that far from the beach. So it may not fetch the premium of the beach side apartments but may rise in line as London and the surrounding areas. Good Luck

[Greg&Claire]

Hi I have purchased a studio apartment here approx 12 months ago. My personal opinion is that I did not want to be on the sea front in the thick of the action and therefore decided to buy here as it is only a short walk to the beach. The other deciding facter for buying here was it was close to the water park which will be fantastic for my son, plus a stones throw away we have the use of a golf course on Nessebar Fort Golf Club.
I think it will increase in value over the years but my main reason for buying was the price.
I think you need to decide on what you want out of this i.e. investment or holiday home.

Good luck in what ever you decide.