Purchase costs come first. Depending on the country, the costs may cover a property transfer tax, notary fees, registration fees, the cost of legal advice and the agent's commission. villas for sale in mil-palmeras budgeting purposes, set aside extra funds beyond the price itself, and confirm the exact rates locally.
Yearly taxes on the property come next. Rates vary enormously, and some countries levy different rates depending on residency. Where the property sits empty for much of the year, additional levies may apply.
Building charges are easy to underestimate. A unit in a complex with a pool, a lift and round-the-clock security generates regular fees that run on whether you are there or not. Obtain the last two or three years of accounts prior to purchase, and check on upcoming renovation projects.
Being far away creates a category of its own. A local manager must handle keys for maintenance visits, receive letters and bills, and esentepe sea view flats supervise the work of contractors. Professional management typically charges a percentage of the rent, and going without it often becomes a false economy.
Insurance, utility standing charges and exit costs finish the picture. Capital gains tax often applies even to a non-resident owner, sometimes at a different rate. A useful exercise means putting together a five-year cost model before making an offer — the result is usually higher than expected.