Thursday, November 15, 2012

Buying a Property in Eastern Europe: Rent - Try Before your Buy

Buying a property anywhere outside your own city borders can be a time-consuming and frustrating business, and buying abroad often adds more layers of complexity with almost certain additional delays.

You may not know exactly where in your chosen country you want to buy, or you may even be less than certain about the country itself. Renting – or finding some other way to stay in a country for a few weeks or months – is one option that can enable you to make informed purchasing choices.
However, renting carries some notable risks and complexities. For example, renting almost always has tax and legal implications. Here we review the pros and cons of renting in your chosen country so that you can decide whether it is the right course of action for your needs. we also look at the profit potential and possible pitfalls of renting out both your new property and the one you are leaving behind.
Both are ways to generate some valuable cash, but finding good tenants and maintaining a rental property from a distance can be daunting endeavors.

Renting before Buying
The most compelling reason for renting before purchasing property in Eastern Europe is that you can try before you buy. If, even after careful research, you find that the region, country, or even the type of property you thought was right for you is less than ideal, you can move out of temporary rented accommodation with relatively little pain or cost.
Taking short-term or holiday rentals in several countries that are on your short list of desirable locations gives you a chance to compare and contrast. Renting enables you to be more certain that the area you choose to buy in is a good long-term bet for you.

An effective way to use renting to refine your property research process is to return to the same area at different times of the year, perhaps renting different types of property. A highly desirable country location that is bustling with people in the summer may turn into a very lonely place in winter when the visitors have gone and the restaurants and bars have shut down.
Another big advantage of living in an area temporarily while looking for a property to buy is that you have a better chance of widening your network of contacts in the housing market. Spread the word that you are looking for a particular type of property, and in no time the owner of your favorite restaurant may introduce you to properties that his friends and relatives are thinking of putting on the market and so give you a slight lead before they come on to general release.

The principal disadvantage of renting really only comes into play if you are investing in property in a sharply rising market or one with a great scarcity of the type of property you are looking for. In these markets, you may miss out on the type of property you're most interested in purchasing, or maybe the type of property you're seeking just doesn't exist yet. The followings offer advice for locating rentals – as well as non- traditional ideas for temporarily locating to an area in which you're interested in purchasing property.

Searching for rental properties
Throughout Eastern Europe, properties for rent are advertised in the local papers and in estate agents' windows. Also check out small ads in shop windows and notice boards in supermarkets, colleges, and universities for desirable proprieties.
Of course, you don't have to wait until you get to your chosen country to hunt out a place to rent short or long term. Look at any of the newspapers, magazines, and Web sites you're using to find properties to buy for help in identifying potential rentals.

When I bought my first overseas property, I asked a local estate agent to find me a house to rent while I looked around the region. The agent appreciated my request because he was able to do one of his clients a favor by finding them a temporary tenant. And he eventually did himself a favor by selling me a house. So consider pumping your lawyer, estate agent, or anyone else you are going to use as part of your house-search team to help you locate rental properties.

If you think you may need months rather than weeks to find a property to buy, consider your creature comforts carefully. You don't want your first experience of living in a new country to be soured by renting unseen a place that turns out to be a disaster. Consider taking a room at a reliable hotel or renting a holiday apartment for a week or two while you look around for somewhere to rent longer term.

Exploring other temporary residence options
If renting a home or any property doesn't make sense for your circumstances – perhaps you plan to move around a country frequently – you can consider other ways to find short- to longer-term lodgings in Eastern Europe by living in a hotel, agreeing to house sit, or participating in a house-swap program.

Living in a hotel
If you want to see and experience a number of different areas of a country or countries before you settle down to the serious business of buying a property, you can always stay in hotels. Most of the countries(With little research) are awash with inexpensive places to stay for a few days, weeks, or months – without having to commit yourself to renting an apartment or villa for months at a time. At the lower end of the scale, staying in a room in a private house can cost as little as €5 (£3.5) a night, while a two-star hotel with half board runs to €15–€35 (£10–24) a night. You can knock off as much as 40 per cent of these costs by staying for a week or more outside of high season. You can also check for bargain hotel breaks on Websites such as the following:
Some new search engines – operating on the principle of 'search with us, book with them' – offers even more efficient at sniffing out bargain hotel rooms. These sites include:


  1. Hello!

    I would like to offer you one commercial property!

    The building is situated in the industrial area near Kyiv in Pogreby (Brovarskyy District, Sofiivska Street 30, 32). It is an office with the warehouse which was constructed according to the European experience in building offices with warehouses and service centers.

    The building is situated on the land which is 0,63 hectare and it is a private property(two state deeds for the land; the purpose of the land: “Construction of the service centers and offices with warehouses”).

    Documents: Certificate of Ownership, extract from the register of the proprietary right of estate property.

    Building area - 1413,9 m².
    Office - 507,8 m² (two floors; lavatories one the every floor).
    Warehouse - 906,1 m².


    - industrial power supply ( own transformer substation 10 kilowatt/0, 4160 kilowatt with the opportunity to magnify to 1000 kilowatt); provider – KYIVENERGO;

    - gas (average pressure - the gas distribution point);

    - heating – gas (own heating);

    - water – own well (official);

    - autonomous cleaning station BioBox4;

    - drainage system;

    - land drainage system;

    - air – conditioning and ventilation of all offices;

    - video surveillance;

    - 10 city phone numbers(Kyiv), operator – OPTIMA TELEKOM;

    - computer network;

    - separate room for server;

    - separate room for the rest and changing of one’s clothes, lavatories and a shower room;

    - fire alarm system;

    - reservoir for rain water;

    - light for the property;

    - fire reservoir with capacity 300 cubic meters;

    - near a grocery store (100m).

    PRICE : $ 2 550 000.


    Kind regards,

    Galyna Bozhok

  2. For the past few years the property market in Europe has been volatile. the worth of property has been badly affected, however that simply means that you'll notice a beautiful home abroad at a cut {price} price.

    Advance Properties Bulgaria

  3. I personally prefer to those accommodations that are near to main city or in major areas of the city. With the help of letting agents it is not difficult to get accommodation according to your standard.

    Student apartments in Huddersfield | Unite Snow Island


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