Large Newly Renovated House Split into Two Apartments (Rent or Sale/Exchange)

I saw this advertised on another website and recognised it as the house next door but one to me. So I made an enquiry about the property and discovered that it was actually the agent's family that owned it.

Initially it was for sale for 15,000 E but they agreed to sell for 13,500 E plus commission. Given that it is a large property, although in need of much work, I felt this was a fair price.

The ground floor has a conservatory type entrance hall, leading into a large central hall , where I would put a bathroom and then there is a kitchen and dining area with indoor sink and a further bedroom. I will likely make this into a large one bedroom apartment.

Enclosed, but separate stairs lead to the second storey, which is only at shell stage. There is no wiring or plumbing but it has a similar layout to downstairs and again will make a nice, large one bedroom apartment.

The stairs continue to a large loft space, possibly suitable for a second bedroom, or maybe just storage. Not sure yet.

There is a large plot of around 1000 sqm with a nice traditional mud brick barn. It is a corner plot.

February 2008: Deal completed and I have keys. A lot of furniture and stuff left so someone coming to help clear this out next week. Will then get quote to turn into 2 one bedroom apartments.

March 2008: Got an idea of costs to make this into two one bed apartments with bathroom on each floor. I am going to use individual tradesmen with someone employed as project manager and so far costs are coming in much cheaper than using full building company.

May 2008: EVN (electric company) have now been and fitted electric meter to outside of house in line with new regulations that will come in and in time all houses will have their meters switched to outside. Paying to have this down now means no need to alter electrics in the future.

July 2008: Have just been round house with electrician and work will start on this property within a month or so.

December 2008: Well work has progressed rapidly on this property. The roof has been completely redone, it has all been re-wired, plumbing all in for two bathrooms and kitchens, plaster boarded everywhere, painted peach outside with tiles along bottom, painted inside, railings on balconies, all new PVC windows in.

June 2009: Just waiting for builders to finish off bits of grouting and painting and little bits on roof. And for some reason the brand new electric meter that I paid 250 levs for has been taken by EVN, the electric company.

July 2009: Eventually just told the builders to go and I would sort out the bits and pieces left to do. Was getting nowhere. They kept saying they had finished and wanted rest of the money owed but had actually done very little - still bits of painting and plastering to do, small things to fix. The window people did come back to fit the mosquito nets that had been paid for but managed to break a window in the process so now trying to get that replaced.

Went to EVN to ask why the electric meter had disappeared and discovered that there is 110 levs outstanding on the electric and not been paid since 2003. This is the old owner's bill. Having faced this problem before I had specifically requested my lawyer at the time to ensure she was given the latest invoices for water and electric and they were both paid uptodate. EVN have taken the meter and cut off the electric supply until this bill is paid and in Bulgaria, debts such as utility bills and mortgages pass with the house - so BE CAREFUL! The electric and water board do not bother to chase up these Bulgarian owners for the money and let bills go unpaid for years and years. It is only when the new owner, usually British, comes along and tries to get a new account number etc, that they demand payment for the last 5 years. Too much hassle apparently to chase people up, they just wait for the new owners to come to them. Oh, and also discovered that I should not have paid 250 levs for each new electric meter. This appears to have been a con, even though I visited EVN before hand and was told by them to ring a certain guy to change the meters and pay him.

And same thing with the water - around 250 levs outstanding on the water bill from last owner plus there had been a leak during winter and so total of around 600 levs owed in water.

But garden slowly being sorted and landscaped.

August 2009: Outstanding electric bill paid and reconnection charge and EVN came next day and now have working electric. Eventually managed to get builder and window company back to look to replace glass they had broken when here previously.

September 2009: New water meter fitted so hopefully will be no more astronomical bills. All mud brick walls repaired. Rockery boundary built and just needs general tidying up of plot. Kitchens now fitted and just tiling to do.

October 2009: Gardens sorted with grass seed sown and starting to grow in most places, rockery/bush area at far end and rose bushes down fence.

And the finished house, ready for rent:

And video of house and plot:

Available for long term rent: 200 Euros/mth for whole property plus bills. Minimum rental period of 12 months and 400E deposit.

Available for Sale: 45,000 Euros o.n.o OR exchange for apartment along south Black Sea Coast (or possibly elsewhere)