Buying a new home is one of the most important financial decisions a person makes. When it comes to buying a property directly from a developer, the decision usually involves not only choosing an apartment, but also assessing the project, the developer, the stage of construction, the contract, deadlines, documents, and future costs.
From our experience at BLD, we know that a well-informed buyer makes a calmer and more confident decision. That is why, in this guide, we have gathered the most important points: what to check, how to think about the price, which documents matter, and which mistakes are best avoided before signing a contract.
This text is for informational purposes and does not replace individual legal consultation. For a specific transaction, it is advisable for the buyer to work with a lawyer or notary, especially when buying at an early stage of construction.
What are the advantages of buying a property from a developer?
One of the main advantages of new construction is that the buyer receives a home designed according to modern standards for comfort, energy efficiency, and functionality. New buildings usually offer better insulation, more modern installations, elevators, underground garages, access control, and better-planned common areas.
Another advantage is the opportunity to choose. When buying at an earlier stage, the buyer often has a wider choice of floor, orientation, layout, garage, or parking space. This is especially important because a good home is not just about square meters. It should match a person’s lifestyle: working from home, a family with children, the need for more light, a view, convenient access, or the possibility of future rental income.
The early stage can also bring a price advantage. Usually, prices in the initial phases of a project are more competitive, and as construction progresses and the number of available homes decreases, the price may change. Here, however, balance is important: the lower price should not be the only argument. The earlier the stage, the more important it becomes to check the developer, the documents, and the contractual terms.
How to choose the right property from a developer?
The first check is not of the apartment, but of the developer. The buyer should see who is behind the project, what completed buildings they have, what the quality of execution is, whether there is a clear portfolio, and how the investor manages the process. Not only deadlines matter, but also transparency regarding documentation, construction stages, transaction terms, payments, and commitments after the building is completed. In new construction, trust in the investor is part of the property’s value.
The next step is the documentation. Depending on the stage of the project, it is important to check the ownership right over the land or the right to build, the building permit, the approved investment projects, the construction documentation, the certificate of encumbrances, and the cadastral data. The certificate of encumbrances shows whether there are registered mortgages, attachments, or other third-party rights over the property. A check in the Property Register and the cadastral map is a normal part of reasonable preparation.
The stage of construction should also be understood correctly. Act 14 is usually associated with reaching the rough construction stage and completing the structure. Act 15 certifies that the construction has been completed and is ready to be accepted by the contracting authority.
Act 16 is an important reference point when buying new construction because it provides clarity about the final stage of the building and its commissioning. Regardless of whether, according to the building category, the document is a permit for use or a certificate for commissioning, the buyer should know exactly at what stage they are buying, what deadlines have been agreed, and what commitments the investor has until the project is completed.
What should the preliminary contract include?
When buying a property from a developer before the notarial transfer, a preliminary contract is usually signed. It should be clear enough because it sets out the main terms of the future transaction.
The contract should accurately describe the property, the areas, the floor, the apartment number, the adjoining parts, the garage or parking space, the price, the payment method, the construction deadlines, the transfer deadline, penalties for delays, withdrawal conditions, the level of completion, and the documents the developer must provide.
The areas deserve special attention. The buyer should distinguish between built-up area, common areas, and total area. In new construction, the price is most often formed based on the total area, but for everyday use, the key factor is the functionality of the home itself. It is good to look not only at how many square meters are written in the offer, but also at how they are distributed.
Payments should also be tied to clear stages. Practice may vary, but the reasonable approach is for the buyer to know what they are paying for, when they are paying, and what they receive in return for each installment. When financing with a mortgage, it is important that the bank’s conditions are aligned with the construction stage and the transfer deadlines.
How does the area affect the future value of the property?
A good project cannot be separated from the area in which it is located. When a person chooses a property from a developer in Sofia, they should look not only at the building, but also at the surrounding environment. Transport, infrastructure, schools, kindergartens, parks, shops, medical services, and access to main boulevards affect everyday life and the future liquidity of the property.
There are areas that are already fully developed but offer a limited choice of new construction. There are also areas that are actively developing and can offer better prospects if infrastructure keeps pace with residential construction. That is why it is important to look not only at current conveniences, but also at future development: new streets, transport links, public spaces, schools, retail facilities, and green areas.
From our point of view, location is not just a marketing argument. It is everyday value. A good address saves time, makes daily organization easier, and makes the property more resilient in the event of future resale or rental.
What additional costs should you plan for?
One of the common mistakes is for the buyer to look only at the advertised price of the property. When purchasing, there are also additional costs that should be planned in advance. These usually include the local acquisition tax, notary fee, registration fee, bank fees for a mortgage loan, property valuation, insurance, costs for finishing works, furnishing, and a possible maintenance fee.
In new construction, it is also important to check whether the price includes VAT, what the level of completion is, and what it actually includes. The difference between an apartment delivered with plaster and screed and a fully finished apartment can be significant in terms of future budget.
It is good for the buyer to make a full calculation before signing the contract. Not only “how much does the apartment cost,” but how much the property will cost by the time it can actually be lived in.
What mistakes should you avoid when buying a property from a developer?
The most common mistake is focusing only on the price. A lower price may seem attractive, but if the area is inconvenient, the developer does not have enough experience, the documents are unclear, or the layout involves compromises, the real value of the property may be lower than expected.
The second mistake is skipping legal checks. The buyer should know who owns the land, whether a right to build has been established, whether there are encumbrances, what the stage of construction is, whether there is a valid building permit, and what exactly the preliminary contract promises.
The third mistake is underestimating future costs. Finishing works, furniture, fees, bank conditions, and maintenance can significantly change the final calculation.
The fourth mistake is choosing a home without thinking about the future. Today, a smaller apartment may be enough, but in a few years, needs may change. That is why it is good to think about the adaptability of the layout, light, orientation, parking, access, and resale potential.
Final tips before signing
Before signing a contract, take time for several key checks. See who the developer is and what projects they have completed. Check the documents with a lawyer. Carefully read the clauses regarding deadlines, payments, and penalties. Clarify the level of completion. Ask how the areas are calculated. Understand what additional costs await you. Explore the area not only during the day, but also during rush hour.
A good deal is not defined only by how attractive it looks at first, but by whether it remains a reasonable and valuable choice years later.
For us at BLD, buying a new home should be a process based on clarity, trust, and peace of mind. That is why we believe that an informed buyer is the best buyer. When you know what to check, what to ask, and how to evaluate the project, choosing a new home becomes much more secure.