Bulgaria Ski discussion board
Phoenix II Bansko
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posts : 13 (Beginner)Date : 04-20-08 20:32Phoenix II Bansko
I would really appreciate hearing from anyone who has bought an apartment in Phoenix II. If you have - PLEASE DO NOT sign the Maintenance Agreement yet as they are asking too much and the place is not even finished.To anyone out there I recommend Furniture Box for all your furniture needs and Backup if you need a really good Managing Agent.
re: Phoenix II Bansko
ive brought in victoria.should of been finished december,looks like july,but thats without pool and gym they say should be done by november!how are we supposed to feel,we were stitched up with english estate agenets,promising golf courses and horse riding a year round destination,,,crap,,,sorry but a lot of people have used all there savings and seen this as a way to make a bit of money to pay for itself and have a pension out of it,,how can you not get frustrated......and yeah there is ...
ive brought in victoria.should of been finished december,looks like july,but thats without pool and gym they say should be done by november!how are we supposed to feel,we were stitched up with english estate agenets,promising golf courses and horse riding a year round destination,,,crap,,,sorry but a lot of people have used all there savings and seen this as a way to make a bit of money to pay for itself and have a pension out of it,,how can you not get frustrated......and yeah there is mafia,,2 big beefy blokes wiyth shades and phill mitchell style leather jackets tried to run me off the road.! gosh i could say some bad stuff about the place, but to be honest there is good and bad everywhere........some countries just worse than others...hint hint
re: Phoenix II Bansko
I know what you mean, we bought it as an "investment and pension" but hey, we've got to give them time to get it right. If they get it wrong we are not the only ones who suffer. We have been lucky, apart from the problems we have experienced with the apartment we have met good people.
Let's face it - the UK is getting bad lately with all the stabbings, etc. We need to clean up our act too.
Fingers crossed all will be OK in the end but we will have to wait a while.
Backup is great, ...
Let's face it - the UK is getting bad lately with all the stabbings, etc. We need to clean up our act too.
Fingers crossed all will be OK in the end but we will have to wait a while.
Backup is great, ...
I know what you mean, we bought it as an "investment and pension" but hey, we've got to give them time to get it right. If they get it wrong we are not the only ones who suffer. We have been lucky, apart from the problems we have experienced with the apartment we have met good people.
Let's face it - the UK is getting bad lately with all the stabbings, etc. We need to clean up our act too.
Fingers crossed all will be OK in the end but we will have to wait a while.
Backup is great, Martin Netov runs it, doesn't charge a fortune and is extremely trustworthy!! [email protected]
Good Luck
Let's face it - the UK is getting bad lately with all the stabbings, etc. We need to clean up our act too.
Fingers crossed all will be OK in the end but we will have to wait a while.
Backup is great, Martin Netov runs it, doesn't charge a fortune and is extremely trustworthy!! [email protected]
Good Luck
re: Phoenix II Bansko
Kellie - an investment is an investment, unless its cash in the bank then there is risk involved. Everyones acceptance of risk is different.
From your post it looks like you may have bought within what 2 years? And not fully paid over the final instalment yet. Property is a LONG term investment in any country - in the UK over the last 10 years he boom may have clouded that reality but that is the case.
Id suggest to anyone who is that hard up now and still has say the final 55% ...
From your post it looks like you may have bought within what 2 years? And not fully paid over the final instalment yet. Property is a LONG term investment in any country - in the UK over the last 10 years he boom may have clouded that reality but that is the case.
Id suggest to anyone who is that hard up now and still has say the final 55% ...
Kellie - an investment is an investment, unless its cash in the bank then there is risk involved. Everyones acceptance of risk is different.
From your post it looks like you may have bought within what 2 years? And not fully paid over the final instalment yet. Property is a LONG term investment in any country - in the UK over the last 10 years he boom may have clouded that reality but that is the case.
Id suggest to anyone who is that hard up now and still has say the final 55% payment to make and you have such bad future prospects take the hit and lose the 45% you have already paid - why send good money after bad. If you & others truely believe the negatives then that is exactly what you should do. It may hurt like hell but it will be better than huirting along with the extra 55% with possibly zero chance of selling.
Remember for what you paid you could have bought a nice BMW 330d probably and a fiesta as well with the spare but you choose to buy here.
I bought as I like the place - its different, food is enjoyable, I wanted to try skiing and I was fed up with finding different holiday resorts year on year - now all I do is book the flights thats it. I play golf and may have the odd game while there, Ill certainly use the pools/tennis courts and have already enjoyed the summer there (Jazz & beer fest are really good fun).
As you say there is good & bad everywhere (try Bethnal Green most nights....)
From your post it looks like you may have bought within what 2 years? And not fully paid over the final instalment yet. Property is a LONG term investment in any country - in the UK over the last 10 years he boom may have clouded that reality but that is the case.
Id suggest to anyone who is that hard up now and still has say the final 55% payment to make and you have such bad future prospects take the hit and lose the 45% you have already paid - why send good money after bad. If you & others truely believe the negatives then that is exactly what you should do. It may hurt like hell but it will be better than huirting along with the extra 55% with possibly zero chance of selling.
Remember for what you paid you could have bought a nice BMW 330d probably and a fiesta as well with the spare but you choose to buy here.
I bought as I like the place - its different, food is enjoyable, I wanted to try skiing and I was fed up with finding different holiday resorts year on year - now all I do is book the flights thats it. I play golf and may have the odd game while there, Ill certainly use the pools/tennis courts and have already enjoyed the summer there (Jazz & beer fest are really good fun).
As you say there is good & bad everywhere (try Bethnal Green most nights....)
re: Phoenix II Bansko
welshy,so you reckon i should lose 30 grand¬! and not pay the other 20,,,,yeah good idea mate ,,thanks,you should be a mortgage adviserre: Phoenix II Bansko
welshy,so you reckon i should lose 30 grand¬! and not pay the other 20,,,,yeah good idea mate ,,thanks,you should be a mortgage adviserre: Phoenix II Bansko
Well being blunt if you seriously think there islittle chance o any growth in the area & selling might be excpetionally difficult - I ould say yes take the £30k hit,
Remember if you put in a further £20k (given you believe what you posted) then its money down the drain & interest alone on £20k a year will be an additional £1,300 ,
Put it in a different way say there was Civil war in a country where you had paid in £30k but needed a further £20k Im assuming all common sense would stop ...
Remember if you put in a further £20k (given you believe what you posted) then its money down the drain & interest alone on £20k a year will be an additional £1,300 ,
Put it in a different way say there was Civil war in a country where you had paid in £30k but needed a further £20k Im assuming all common sense would stop ...
Well being blunt if you seriously think there islittle chance o any growth in the area & selling might be excpetionally difficult - I ould say yes take the £30k hit,
Remember if you put in a further £20k (given you believe what you posted) then its money down the drain & interest alone on £20k a year will be an additional £1,300 ,
Put it in a different way say there was Civil war in a country where you had paid in £30k but needed a further £20k Im assuming all common sense would stop you from throwing the additional £20k away.
The market in Bansko (and I have bought 2) is oversupply & with the global credit crunch and forthcoming recession globally [which some economists predict could be as bad or worse than the 1920's crash - which took 35 years to recover (although WW2 did happen)]. The credit crunch will stop people buying more & more properties especially from the UK and Ireland - this is a worry for me and Id assume a worry to anyone who owns an asset there.
Oversupply of new properties means there is no resale market as such - I dont know of how the market economics works wih everything being built new and "no restriction" on supply - and the point being why buy used when you can buy new? (a question I didnt think about when I bought).
Finally Im guessing that you invested in a place you like to visit yourself and somewhere you will use say for 2 holidays a year summer & winter (if not that is a lot of eggs in one basket).
Last last point - how much research did you do before buying? How many other countries did you visit (to seriously consider buying) or was this the sole choice due to "low" purchase price?
If you cannot afford the £30k financing costs then dont put in any more as (Im assuming you are stretching to buy this place on top of your UK place) as it could worst case cause you to lose your UK residential place which would be terrible. Think hard & good luck.
Remember if you put in a further £20k (given you believe what you posted) then its money down the drain & interest alone on £20k a year will be an additional £1,300 ,
Put it in a different way say there was Civil war in a country where you had paid in £30k but needed a further £20k Im assuming all common sense would stop you from throwing the additional £20k away.
The market in Bansko (and I have bought 2) is oversupply & with the global credit crunch and forthcoming recession globally [which some economists predict could be as bad or worse than the 1920's crash - which took 35 years to recover (although WW2 did happen)]. The credit crunch will stop people buying more & more properties especially from the UK and Ireland - this is a worry for me and Id assume a worry to anyone who owns an asset there.
Oversupply of new properties means there is no resale market as such - I dont know of how the market economics works wih everything being built new and "no restriction" on supply - and the point being why buy used when you can buy new? (a question I didnt think about when I bought).
Finally Im guessing that you invested in a place you like to visit yourself and somewhere you will use say for 2 holidays a year summer & winter (if not that is a lot of eggs in one basket).
Last last point - how much research did you do before buying? How many other countries did you visit (to seriously consider buying) or was this the sole choice due to "low" purchase price?
If you cannot afford the £30k financing costs then dont put in any more as (Im assuming you are stretching to buy this place on top of your UK place) as it could worst case cause you to lose your UK residential place which would be terrible. Think hard & good luck.
re: Phoenix II Bansko
welshy,thanks for reply,,,,but i dont think im gonna give greedy bulgarians 30,000 for jack shit,so i will pay the other 20,000,and get my apatrment.....the 6grand im not going to send them to ripp me off for a furniture package(ill do that myself) ill spend on getting a boob job and become a lap dancer,....make shit loads of money like my mate julie!!!! anyway dont worry i dont have kids to worry about and yeas i did my research on other countries...spain ,turkey,goa,greece...good luck to ...
welshy,thanks for reply,,,,but i dont think im gonna give greedy bulgarians 30,000 for jack shit,so i will pay the other 20,000,and get my apatrment.....the 6grand im not going to send them to ripp me off for a furniture package(ill do that myself) ill spend on getting a boob job and become a lap dancer,....make shit loads of money like my mate julie!!!! anyway dont worry i dont have kids to worry about and yeas i did my research on other countries...spain ,turkey,goa,greece...good luck to you 2 least ive only brought 1!
re: Phoenix II Bansko
Im not intending to sell much before 10 years (circumstances depending) and then probably only 1. Or reassess and if they are self financing by then then keep them going.
I intend to use them once to twice a year.
When/if we have a family this will make overseas holidays far more affordable.
One word of caution about the furniture packages (one which I need to consider too for one of my places - still not yet decided) is that if you dont go with their own offerings and then use them ...
I intend to use them once to twice a year.
When/if we have a family this will make overseas holidays far more affordable.
One word of caution about the furniture packages (one which I need to consider too for one of my places - still not yet decided) is that if you dont go with their own offerings and then use them ...
Im not intending to sell much before 10 years (circumstances depending) and then probably only 1. Or reassess and if they are self financing by then then keep them going.
I intend to use them once to twice a year.
When/if we have a family this will make overseas holidays far more affordable.
One word of caution about the furniture packages (one which I need to consider too for one of my places - still not yet decided) is that if you dont go with their own offerings and then use them or another for letting out you have issues i.e. different bed linen/towels, also if something gets broken then they cannot replace it as they dont know where you bought it so you will have to claim back through your insurance - which is a pain and time consuming + you will have to replace the item yourself or pay them to go out to buy it...
That is my concern - in addition to that they may favour rooms which have their own furniture to others when letting them out and unless you checked the occupancy of the hoteland other rooms you'd never know...
The £6k one Im going for includes full kitchen, dishwasher, washing machine TV's beds sofas and all the other small items. Now I know £6k sounds a lot but for you to take annual leave to go out there to do it yourself (and it may not turn up on time/on the correct days/be damaged upon delivery) may mean that you entire leave is used up on sorting out the logistics. Remember what Sarah Beany always says leave certain jobs to the pros as the opportunity cost of not doing so is higher & longer to you.
I intend to use them once to twice a year.
When/if we have a family this will make overseas holidays far more affordable.
One word of caution about the furniture packages (one which I need to consider too for one of my places - still not yet decided) is that if you dont go with their own offerings and then use them or another for letting out you have issues i.e. different bed linen/towels, also if something gets broken then they cannot replace it as they dont know where you bought it so you will have to claim back through your insurance - which is a pain and time consuming + you will have to replace the item yourself or pay them to go out to buy it...
That is my concern - in addition to that they may favour rooms which have their own furniture to others when letting them out and unless you checked the occupancy of the hoteland other rooms you'd never know...
The £6k one Im going for includes full kitchen, dishwasher, washing machine TV's beds sofas and all the other small items. Now I know £6k sounds a lot but for you to take annual leave to go out there to do it yourself (and it may not turn up on time/on the correct days/be damaged upon delivery) may mean that you entire leave is used up on sorting out the logistics. Remember what Sarah Beany always says leave certain jobs to the pros as the opportunity cost of not doing so is higher & longer to you.
