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Stone ruin in Bogisici

Stone ruin in Bogisici. There is an old ruin for sale as a project for reconstruction. Area of the ruin is 124 sq.m. standing on a plot of 209 sq.m..

The ruin can be rebuilt on 3 levels with a total area of 190 sq.m. including an attic floor. Parking is on the border of the plot. Part of an old water tank can be rebuilt into a swimming pool. Amazing investment oprotunity overall. Price for the lot is 57.500 euro


Reconstruction of a stone house in Bogisici

I. Description

A plot of 210 sq.m. with a ruin in Bogisici village for sale. The ruin consists of walls, staircases, terrace, two separate sub-structured building, spacious outside terrace and an outside parking. The plot I is located in a calm and friendly neighborhood near Tivat (10 minute drive) and Lustica Bay (5 minute drive). The stone house can be reconstructed into a spacious house on three levels with closed with glazing terraces and in=roof mounted balcony-windows. The price of the plot is 57.500 euro. The total reconstruction into an economy class house is calculated at 105.250 euro with a revenue of at least 115.200 euro.


II. Basic data:

Plot area 209 sq.m.

Gross area now:

Main house with terrace:  163,8 м2

Net space now:

Main house with terraces: 128,2 м2

Planned area:

Gross house with terraces: 254 м2

Net house with terraces: 216 м2

III. An inside onto the property:

  1. The site is located in a calm settlement near Tivat, Lustica Bay and the biggest roundabout on the central coast, meaning it has an excellent road conditions, connecting the settlement with open sea, Bays and such cities as Tivat, Kotor, Budva, Cetinje and others.
  2. From the future to be third level of the house the Tivat bay is visible, meanwhile an opened sea can be seen from the 1st level of the house.
  3. The plot is surrounded by city councils land from every side, meaning that the side can be prolonged by a purchase of a bordering plot.
  4. There’s plenty of parking space around the house at what it is not located directly at a busy road.
  5. Electricity and water communications are connected to the plot and house itself.
  6. There is a separate shed type building at the plot which can be used as a summer kitchen or a place to store landscaping equipment.
  7. The plot has a built in old stone well with a 3*4 meters size which can be reconstructed into a swimming pool with a small additional investment.

IV. Ideas:

Main objectives of the build:

  1. Increase the livable space of the house to 204,5 sq.m. by adding another level under the roof,
  2. Make a stable reinforced concrete construction inside the stone ruin,
  3. Add balcony type windows onto the roof in order to get a modern touch to the building.
  4. Form two additional terraces on the 2d level of the house by using existing structures connected to the house,
  5. Increase the area of the windows in the outside walls and adding glazed fences on the stairs and outside terraces,
  6. Remodel an outside water-well into a swimming pool \ jacuzzi,
  7. Make a wine cellar under the ground floor slab,
  8. Add floor heating system based on water and roof water-boiler,
  9. Make all interior walls of drywall with hidden sliding doors,
  10. Make a personalized and well designed space fit enough for an art-gallery. 

V. Costs:

Here are two types of costs based on different materials, equipment and furniture used in the process.

Cost breakdown «business class»:

  1. Plot + purchase + notary + translator: 60.000 euro
  2. Electricity & water connections: 2.000 euro
  3. Reinforced concrete base of the house: 37.500 euro
  4. Finishing works «business segment»: 110.500 euro
  5. Furniture, accessories, plants, etc: 23.500 euro
  6. marketing\realtor fee: 23.500 euro

Total: 257.000 euro

Cost breakdown «economy class»:

  1. Plot + purchase + notary + translator: 60.000 euro
  2. Electricity & water connections: 2.000 euro
  3. Reinforced concrete base of the house: 37.500 euro
  4. Finishing works «business segment»: 65.750 euro
  5. Kitchen furniture, plants, etc: 8.000 euro
  6. marketing\realtor fee: 17.500 euro

Total: 190.750 euro

VI. Difference between economy & business:

  • Electrical sockets and switches from a well known brand,
  • Water based thermal heating with inflow pipes,
  • Hidden AC multi-split units,
  • Sun-heated water boiler,
  • Multicolored main, wallpaper, laminate mounted onto the walls,
  • Higher class of laminate and tiles on the floors and WC units,
  • In-wall mounted sanitary equipment,
  • Aluminium doors and windows,
  • Roof balcony doors,
  • Hidden doors, sliding into the walls,
  • Stone steps on the staircase,
  • Stone on the terraces,
  • Glazed fences on the terraces and border walls,
  • Telescopic tents above the terraces,
  • Full furniture set for every room, including accessories, towels and sheeting,
  • Led lights hidden in the ceiling niches,
  • Outside furniture,
  • Plants and automated irrigation system.

VII: Sales:

Here you can find two options of costs and profit depending on which type of construction and accessories is chosen. 

Sales & profit:

  1. «business class»:

Costs: 257.000€

Sales: 422.000€

Profit (tax not applicable for foreign investors): 165.000€

  1. «economy class»

Costs: 190.750€

Sales: 305.950€

Profit (tax not applicable for foreign investors): 115.200€