Transaction costs arrive first. Across different markets, they can include transfer tax or stamp duty, notary costs, registration fees, lawyer's fees and the agent's commission. For budgeting purposes, set aside a meaningful percentage on top of the price, then check the exact local rates.

Annual property taxes apply every year afterwards. Rates vary enormously, and certain jurisdictions charge a separate rate for non-residents. If the home stands vacant most of the time, additional levies can apply.

Building charges are often overlooked. A flat estate agents in phuket a complex with a swimming pool, landscaping and a concierge generates recurring costs that run on even when the flat is empty. Obtain the last two or three years of accounts prior to purchase, and look apartments for sale limassol upcoming renovation projects.

Being far away adds costs that local owners never see. Someone needs to handle keys for leaks and repairs, accept mail and official notices, and supervise the work of contractors. Property management typically charges a share of rental income, and going without it tends to become costly cheap houses in california the long run.

Insurance, running costs and the cost of selling finish the picture. Tax on the sale can apply to non-resident sellers, sometimes at a different rate. A sensible test means putting together a simple long-term cost projection before making an offer — the total is usually higher than expected.