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The average size of a mortgage loan for the construction of a house varies between 140,000 and 300,000 BGN, according to experts, in the last 5 years growth has doubled due to higher family income. BGN per month. There are exceptions with more luxurious houses, for which the loan reaches 500-600 vouchers.
This type of loan appeared in our country in 2004-2005, but the interest in it is weak. “Most people don’t like it because it’s a serious compromise, and that’s why there have always been more deals with manufactured homes,” Monitor was quoted as saying by loan consultant Tihomir Toshev. Usually, they decide to build those who do not like the prefab properties on the market, so they go to build their dream home.
The loan amount is generally delivered in installments.
Among the main advantages of this method are that we can choose where the house is and what distribution to have. We can equip you with the latest energy efficiency technologies or security systems. In addition, we have almost total control over the construction materials used. Another advantage is the value for money, because maintenance and repair costs are lower for at least the first seven to ten years.
Some banks offer financing options by providing real estate secured with a use permit, says credit consultant Lachezar Chizmarov. According to him, the procedure is the same as for a standard mortgage loan: a market appraisal is prepared, 75% of it is financed, the necessary documentation is provided and once the loan is approved, it is passed to a notary to process the documents mortgages in favor of the borrower. Bank. Once registered, the bank lends the full amount at once or it can be repaid gradually with the builder. People who have opted for this type of financing
more and more choose the house to be outside the big city
in small settlements up to 30 km from Sofia, for example due to cheaper plots. Property has a minimum of 3 bedrooms and a 2 car garage, spacious living rooms and kitchens. According to Tihomir Toshev, there are quite a few people who do not estimate costs well and money is not enough to complete repairs and furnishings. “A precise budget must be made so that we do not run out of funds during construction,” the expert advised.
If we choose to build a house, we must not forget that this can only happen on regulated land, for which there is a detailed development plan.
Sofia, Bulgaria
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