Apartment complex or residential building-what to chose – advantages and disadvantages

As a rule Residential buildings, are built mainly, in large cities and are intended to live in there permanently-all year round . They are many storey buildings with n additional  facilities, such as security, swimming pool ,gym,etc.These are bought mainly from the local people. They are typical for the big cities as Sofia, Burgas, Varna, Plovdiv, but in the last few years – have become very popular amongst foreign buyers, who intend to move in Bulgaria, after retirement.

The lack of facilities in these building is determined from the fact that in the central parts of the cities, there are not big plots of land , on which to built on , and the investors striveto build ,as much as ,residential premises, as possible.

Originally on the ground floors of the residential buildings are located commercial areas, such as supermarkets, offices, beauty centers etc.

On the Bulgarian Black Sea coast, ski and spa resorts of the country are being built mostly apartment complexes, that offer to their tenants ,many facilities ,luxury and comfort – 24/7 security ,indoor and outdoor swimming pools, gym, spa, underground parking.

Typical for these complexes is that they are located on large plots of land . Over the past three years in some cities also appeared such elite complexes, but they usually are either out of town or too far from the city center.

If you have decided to buy an apartment in a complex, you should know that every year you will have to pay a maintenance fee . It varies form 6-12 Euros per square meter yearly, depending on the facilities ,that your complex  offers .The fee is calculated on the total area of the apartment. The more luxury the building is, the more facilities it offers to the owners, the more expensive the service charge will be.

The fee includes security of the complex, maintenance of common areas - gardens, pools, corridors.

From one side ,having holiday apartment in a closed  complex is an extremely convenient, especially if you're planning to live in Bulgaria for a few months only, because there is always someone to take care of your property during your absence. Common areas are always well kept in, in good condition, gardens and pools are clean and maintained. Very often management companies offer additional services, such as cleaning of your apartment, before your arrival, payment of your electricity can be ordered by email to the management company and cots additional payment.

 In the residential buildings, there is no such a maintenance fee.  All the owners on a monthly basis collect small amounts of money / not more than 5 Euros per apartment/ for paying the electricity and water bills of the common areas, the lift maintenance, the fee for a cleaner, etc. Usually in such buildings there is a manager /originally a local resident, who have retired and have the time and the willingness to deal with these issues. When serious decisions have to be taken - for example, repainting the entrance, cosmetic repairs, replacement of lighting etc, a general meeting is gathered between the owners, who vote and by the vote of the majority take common decisions, related to the future operation and maintatnce of the building .This is regulated with the so called Law of the floorage ownership.

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