If you are ready to make Bansko your permanent home, then consider the following important points before buying a place:
- If you stay in Bansko less than 6 months per year owning may not be cheaper than renting after you consider maintenance, property taxes, repair, and depreciation.
- €300-€350 per m2 is a good price, despite what the agents will tell you. You could buy directly from an owner without agent fees, but still budget about 5% closing cost for notary, lawyers and taxes. Agent fees are around 3%, often a minimum of €2000.
- DO NOT buy the first one. Bansko is a buyers’ market and there are usually many available units in the same complex. Talk to multiple agents once you have found an apartment you like and see what other similar units are available.
- Ask about maintenance fees. The typical range is €5-€10 per m2 per year.
- Make sure the water/electricity bill will be in your name and NOT paid to the complex.
- Check if the facilities work in the low season as well. This includes elevators and the general state of the complex. Is the pool heated/working? Does your fireplace work?
- Heating can be expensive in winter depending on the insulation of the building and the heating method used but the difference will be only a few hundred EUR in cost for the whole winter. So be smart when weighting higher quality build against purchase costs.
- Unfurnished and requiring construction (painting walls, installing floors, plumbing, etc.) can be a lot of work and extra money. Better buy furnished you can live in and replace furniture over time, unless you get a great deal.
- DO NOT expect you will be able to rent out your apartment or you will be able to sell it at a profit, regardless of what the agents tell you. It is VERY difficult to generate rental income that covers more than the annual maintenance cost because of high competition that keeps rents low, the legal situation for short-term rentals and the fact that as a foreigner you probably need to rely on a local middleman for everything. If you have more questions, please talk to Coworking Bansko members that have moved to the area about their experiences.
This is a list of the main Real Estate agents in Bansko:
Real Estate agents in Bansko
Once you have an apartment, here is a list of various contractors that you might need for your home improvement projects.
The Essential Contacts in Bansko for home improvement projects
Also refer to the list in our Wiki for Essential Contacts for Home Improvement Projects.