For people who have a certain amount of money but not their own home, the question of whether to buy their own home or to wait and put the money into bitcoins, for example.
The purchase of a home (note ed. not for investment purposes) is the biggest liability. “You buy it and start paying for everything – credit, insurance, repairs, maintenance, common parts. Most people attribute it to the emotional effect of buying their own home, but they are not used to the financial part of things and for them this expense turns out to be quite a serious shock, says Miroslav Yazov, manager of a real estate agency.
On the other hand, for many people (mostly born after 1990) buying a home is not a TOP priority. “They prefer (influenced a lot by American culture, which is very unpleasant for me) to invest in bitcoins, stocks. They become quite boring and monotonous in their daily lives and conversations. They say what will be done, what will be invested in, but no one takes the first step. So, if you decide not to buy a home, but to invest in shares, be careful not to become like the Americans who, morning, noon and night, only have money in their heads, warns Yazov.
However, the big plus of putting your money into Bitcoin as opposed to housing is that you are flexible. “If you buy a home, you look for work around the place where you live. Whereas, if you decide to invest the money and live in a rental, it is easier to change your place of residence. The big minus in this case is that if you have a family, it is good to have your own home”, concludes Yazov.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE