The Real Cost Of Foreign Property Ownership: Beyond The Purchase Price

Transaction costs arrive first. From one market to another, these can include transfer tax or stamp duty, notary fees, land registry charges, legal fees and agency commission. As a working assumption, budget a noticeable share above the purchase price, and verify the actual local figures.



Annual property taxes follow. Rates differ substantially, and some countries charge higher rates to non-residents. If the home stands vacant zabljak real estate for sale long periods, additional levies may apply.



Building charges catch buyers out. A unit in a development with a pool, a lift and a concierge carries regular fees that keep coming whether you are there or not. Obtain the last two or badalona real estate three years of accounts prior to purchase, and check on any planned major works.



Remote ownership introduces a category of its own. Someone must be available repossessed 3-bed flats for sale anavargos leaks and repairs, receive mail and official notices, and organise routine maintenance. A management company usually takes a monthly fee, and doing without it usually proves expensive in a different way.



Insurance, utilities and eventual selling costs round out the picture. Capital gains tax can apply when a non-resident sells, sometimes at a different rate. A useful exercise is to build a five-year running-cost estimate before making an offer — the result tends to exceed what the buyer imagined.