Purchase costs arrive first. Depending on the country, the costs can include a property transfer tax, notary costs, land registry charges, lawyer's fees and alsancak real estate agency commission. As a working assumption, reserve a meaningful percentage on top of the price, and confirm the exact rates locally.

Yearly taxes on the property come next. Rates vary substantially, and certain jurisdictions charge different rates depending on residency. If the home stands vacant for long periods, additional levies may apply.

Building charges catch buyers out. A unit in a development with a pool, an elevator and shared parking comes with recurring costs that continue even when the flat is empty. Ask for the building's financial records prior to purchase, and look resale 2-bed penthouses for sale anavargos any planned major works.

Distance adds its own cost line. A local manager must hold keys for leaks and repairs, deal with letters and bills, and supervise repairs. A management company normally charges a percentage of the rent, and going without it usually proves a false economy.

Insurance, utilities and eventual selling costs finish the budget. Tax on the sale often applies even to a non-resident owner, and the resident rate is not always the one that applies. A useful exercise involves building a five-year running-cost estimate before making an offer — the total is usually higher than expected.