Transaction costs arrive first. Depending on the country, these may cover a property transfer tax, notary costs, land registry charges, 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.

Annual property taxes apply every year afterwards. Rates vary from place to place, and some countries apply a separate rate for non-residents. Where the property in budva sits empty for much of the year, extra charges can apply.

Service charges are often overlooked. A flat in a development with a swimming pool, landscaping and shared parking generates regular fees that keep coming regardless of occupancy. Obtain the last two or three years of accounts before signing, and enquire about any planned major works.

Distance introduces its own cost line. A local manager needs to hold keys for maintenance visits, receive letters and bills, sestri levante property for sale and arrange repairs. Property management usually takes a share of rental income, and managing remotely alone tends to become costly in the long run.

Insurance, utility standing charges and exit costs round out the budget. Tax on the sale often applies to non-resident sellers, occasionally at a higher rate. A useful exercise involves building a five-year cost model before you commit — the result tends to exceed what the buyer imagined.