Transaction costs come first. Across different markets, they may cover stamp duty, notary fees, registry costs, the cost of legal advice and agency commission. As a rough planning figure, set aside a meaningful percentage on top of the price, and confirm the exact rates locally.
Recurring property taxes follow. Assessment methods vary enormously, and some countries charge higher rates to non-residents. Where the property sits empty for long periods, additional levies can apply.
Building charges catch buyers out. An apartment in a managed building with shared gardens, a lift and a concierge generates monthly costs that keep coming regardless of occupancy. Obtain recent accounts from the management company prior to purchase, and check on scheduled repairs.
Distance creates a category of its own. A local manager has to handle keys houses for sale in mersin emergencies, accept mail and official notices, and arrange repairs. A management company normally charges a percentage of the rent, and managing remotely alone usually proves costly cheap houses in dubai the long run.
Insurance, utility standing charges and exit costs complete the picture. The tax due on a future sale may apply to non-resident sellers, occasionally at a higher rate. A good discipline is to build a five-year running-cost estimate before making an offer — the figure is usually higher than expected.
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