Consider the property's maintenance costs before investing
September 29th, 2007
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Maintenance cost is an issue you have to think carefully about as it might affect the value of the property. Higher maintenance will make it harder to rent and less attractive for potential buyers.
If you look to invest in medium price property maintenance cost must remain within €50-150 per month. The limit will be higher for properties targeting the top level of the market, with cost up to €1000 per month for a luxurious apartment in north Bucharest.
Be careful when investing Off Plan
For a new development the cost will be higher because it includes the common property around the building, security, parking space, playground, inside roads and other services. It is common for developers to sign contracts with a companies that will take care of the common space of the rezidential complex. The new owners will be able to renegociate this contract or to find another company only after it's expiration, in several years.
The maintenance cost for a new rezidential complex is usually higher than the cost paid for old apartments build in former communist regime.
More about investing in Romanian properties in the Independent Guide
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