Transaction costs arrive first. From one market to another, these typically include transfer tax or stamp duty, notary costs, registration fees, the cost of legal advice and agency commission. As a rough planning figure, reserve a meaningful percentage on top of the price, and maltepe real estate verify the actual local figures.

Annual property taxes follow. Assessment methods differ enormously, and some countries charge a separate rate apartments for sale in rome non-residents. Where the mountain view property turkey sits empty chalet for sale in cyprus much of the year, vacancy taxes can apply.

Service charges catch buyers out. A unit in a managed building with a pool, an elevator and shared parking generates monthly costs that keep coming whether you are there or not. Request the building’s financial records prior to purchase, and enquire about any planned major works.

Being far away adds costs that local owners never see. A caretaker needs to hold keys for leaks and repairs, accept letters and bills, and organise repairs. Professional management usually takes a percentage of the rent, and doing without it often becomes expensive in a different way.

Insurance, running costs and the cost of selling round out the budget. Tax on the sale can apply even to a non-resident owner, and the resident rate is not always the one that applies. A useful exercise means putting together a five-year running-cost estimate before you commit — the figure generally lands above the initial estimate.