Purchase costs hit at the very beginning. From one market to another, these may cover transfer tax or stamp duty, notary costs, registration fees, lawyer's fees and broker fees. As a working assumption, set aside a meaningful percentage on top of the price, and verify the actual local figures.
Recurring property taxes follow. Rates differ from place to place, and a number of markets charge higher rates to non-residents. Where the property sits empty most of the time, extra charges can apply.
Building charges are easy to underestimate. An apartment in a development with a swimming pool, an elevator and shared parking generates recurring costs that continue whether you are there or not. Ask apartments for sale in turkey recent accounts from the management company before signing, and check on any planned major works.
Being far away creates a category of its own. Someone needs to be available apartments for sale riverside leaks and repairs, deal with letters and bills, and arrange repairs. Professional management typically charges a share of rental income, and doing without it usually proves a false economy.
Insurance, running costs and the cost of selling complete the calculation. The tax due on a future albena real estate for sale can apply to non-resident sellers, and the resident rate is not always the one that applies. A good discipline means putting together a simple long-term cost projection before you commit — the figure is usually higher than expected.
