Closing costs come first. Across different markets, the costs typically include transfer tax or stamp duty, notary fees, registration fees, lawyer's fees and the agent's commission. As a rough planning figure, budget a noticeable share above the purchase price, and verify the actual local figures.

Annual bodrum property prices taxes apply every year afterwards. Assessment methods differ from place to place, and a number of markets charge a separate rate houses for sale in croatia non-residents. Where the buy property in corcubion sits empty most of the time, vacancy taxes may apply.

Service charges are often overlooked. An apartment in a managed building with a pool, landscaping and a concierge carries recurring costs that run on even when the flat is empty. Obtain recent accounts from the management company prior to purchase, and kotor real estate look for upcoming renovation projects.

Distance introduces costs that local owners never see. A caretaker needs to be available for emergencies, deal with mail and official notices, and arrange routine maintenance. Professional management usually takes a percentage of the rent, and doing without it often becomes a false economy.

Insurance, utilities and eventual selling costs finish the budget. Capital gains tax often applies even to a non-resident owner, and the resident rate is not always the one that applies. A useful exercise is to build a simple long-term cost projection before making an offer — the total is usually higher than expected.