Many overseas property buyers are not thinking about how much it can do the contents of a cottage in the Alps or an apartment in London. However, planning costs, we must consider not only the cost of samog? object, but also taxes, utilities, insurance and other costs.
Fee for service management company
When buying a home to rent can apply to services management company. Commission ranges from 10 to 15% depending on whether the company is engaged in finding tenants, or just keep order.
In the UK, with housing maintenance and surrender it to the rental management company will take at least 12% per annum of the value of the lease. When operating without a lease - from 4% of the estimated annual rental income.
There is also real estate owners on a quarterly basis to pay fees for building maintenance (Service Charge), whose size ranges from 500 to 3,500 pounds per year. The value of the service fees set either council tenants, or agent of the management company and depends on the package of services (concierge, security, CCTV, parking garages, etc.).
When buying an apartment in Germany, the owner automatically becomes a member of the community residents, which collects contributions for the maintenance and repair homes in public places (porch, roof, basement). Deductions for these purposes are typically about 40 cents per 1 m? per month. Community residents hired a management company whose services cost 20-35 euros per month.
Office of the elite real estate is expensive. Typically, in this case need to pay for additional services - for example, cleaning swimming pools and gardening. Thus, in France, Germany, Spain services company that operates a villa with pool and garden, cost of 2-3 thousand per year. The responsibilities of the firm includes a visit home once a week, entering into contracts with service personnel, maintenance of accounts. Weekly cleaning costs about 60 euros for the maintenance of the pool in a month it takes about 800 euros, about the same amount to pay for the services of a gardener. As a result, a year is spent for the maintenance of houses, tens of thousands of euros.
In most European countries, property owners pay an annual property tax. It is calculated on the basis of valuation, rather than the market value of the object, and ranges from 0,1 to 3,5%.
Typically, the estimated (or inventory) cost significantly less than the market as calculated by the technical indicators, such as, for example, the degree of wear. It is usually determined by an independent appraiser. When calculating the market value plays an important role not only state of the object, but also other factors: the object's location, infrastructure, transport. Market value is determined by the balance of supply and demand.
In Spain, the rate of property tax is 0,4% in urban areas and 0,3% in rural areas.
In Montenegro, the rate depends on the size of the object, and ranges from 0,08 to 0,8% of the cadastral value.
In Germany, for the property are paid an average rate of 1.9% of cadastral value. Not taxable items less than EUR 120 thousand for individuals and 20 thousand cheaper for businesses.
In Finland, the tax rate on homes ranging from 0.32 to 0.75% of the value of the object.
In France there are two types of real estate tax: taxe fonci? Re (subject to a house with land) and taxe d'habitation (building only). The amount of tax depends on the area of real estate. So, for a flat 90 square meters? need to pay around 400 euros for a house of 120 m? 100 m? land - about 1,000 euros per year.
In some countries - such as Croatia and Ukraine - the property tax there.
In the UK there is also no single tax on real estate, but property owners must pay an annual council tax (Council Tax), which goes for police, fire service, municipal property, schools, libraries and on street cleaning. This tax can be paid once a year, quarterly or monthly. The amount of tax varies from 200 to 2,500 pounds per year. The amount varies by region, the number living in the home and the object class. All the houses in the UK recorded in the register under one of the eight categories (from A to H), where H is the most expensive.
In Spain, apart from property tax, property owners pay taxes on the state at a rate of 0,2% (on property worth up to 193,000 euros) to 2,5% (in real estate more expensive than 12,316,000 euros).
The size of utility bills depends on consumption, since most houses are set timers.
In general, the countries of Western Europe pays for gas, water and electricity are higher than in the south.
In Britain, water charges an average of 450-460 pounds per year for electricity and gas - 1,400 pounds per year. Utility bills for two-bedroom apartment in London can reach 300 pounds per month.
In France, charges for public utility services in the two-room house is about 1,200 euros per year. In this country, especially the costly maintenance of gardens and gardening, central heating, pool heating, cleaning, air conditioning.
In Germany, utilities are expensive, too. Monthly costs for an apartment of 70 m? is 100-120 euros.
In Finland, the contents of the cottage area of 150 m? costs 120-150 euros per month. This amount includes the cost of water, electricity, fees for garbage collection and road maintenance.
Utilities in Spain below. For example, the cost of maintaining the apartments of 100 m? are 650-850 euros per year.
In Croatia, you can save even more. Here, a family of two people spends on housing, on average 750 euros per year.
Do not forget that almost all European countries, home insurance is mandatory, so a fee for insurance is also necessary to include in the list of expenses. The amount of contributions depends on the value of the property, its location, age, wear and other factors.
One of the most expensive countries in terms of the cost of the homes - France. Here, in the year for housing goes to 2-3% of project cost, including local property taxes, insurance and utilities. For comparison, in the UK, this value is about 1%. In Germany, a nice home, too expensive because of high tariffs on utilities. However, given the median income, such prices do not beat the affordable to local residents. Cheaper housing maintenance in Montenegro, Croatia and Finland.