The purchase price is only part of the cost of buying property abroad.
Taxes, legal fees, registration costs, currency transfers, renovation and ongoing ownership expenses can all affect the real cost of a property.
Here I look at the costs you need to consider when buying and owning property abroad, with practical information from my five main destinations: Montenegro, Medellín, Cuenca, Chiang Mai and Bali.
Table of Contents
What Does It Really Cost to Buy Property Abroad?
When you’re comparing properties overseas, it’s easy to focus on the asking price.
But you’ll usually need to budget for additional costs such as:
- Purchase or property transfer taxes
- Legal and notary fees
- Registration costs
- Currency exchange and international transfers
- Renovation and furnishing
- Annual property taxes
- Maintenance and property management
- Rental and income taxes if you let the property
The exact costs vary considerably between countries, which is why it’s important to understand the local rules before you commit to a purchase.
🇲🇪 Montenegro
Montenegro is the destination where I have the most personal experience. I bought my own property in 2024, completed the renovation in 2025 and have been renting it out since spring 2025.
Here are some of my most useful guides covering the costs involved.
Property prices, taxes and fees to consider when buying in Montenegro.
A practical guide to the buying process, including taxes and other purchase costs.
My own experience of buying a property, including some of the actual costs I encountered.
🇨🇴 Medellín
Buying property in Colombia involves a number of costs beyond the purchase price, from professional fees and registration to property and other taxes.
Property prices and the taxes and fees you need to consider when buying in Medellín.
A guide to buying in Colombia, including notary, registration, legal and other costs.
🇪🇨 Cuenca
I don’t currently have a dedicated Cuenca tax guide, but my Ecuador property guides cover several of the costs that foreign buyers need to understand.
A practical guide covering the buying process, property taxes and transaction costs.
An overview of buying in Cuenca, including some of the taxes and costs associated with property ownership.
🇹🇭 Chiang Mai
Thailand has its own set of taxes and fees associated with buying and owning property.
Covers the main taxes and fees involved in buying property in Chiang Mai, as well as ongoing property taxation.
A broader Thailand guide covering property taxes and other costs for foreign buyers.
🇮🇩 Bali
Buying property in Indonesia involves different taxes and costs depending on the type and structure of the purchase.
Covers the main taxes and fees involved in buying property in Indonesia.
A look at some of the practical challenges and costs involved in buying property in Bali.
Don’t Forget the Costs Beyond the Property
Some of the biggest surprises when buying abroad can come from costs that aren’t included in the advertised price.
💶 Moving Money
Currency exchange and international transfer costs can make a significant difference when you’re moving a large amount of money.
My experience of managing a large international property payment.
My experience using Wise for international payments.
Renovating a Property
If you’re buying an older property, renovation and furnishing can add considerably to your overall budget.
My experience of renovating a property in Montenegro and the practical issues involved.
Plan Your Property Budget
Before you start making offers, I would highly recommend working out what you can realistically afford including the costs beyond the purchase price.
I’ve created a free International Property Budget Planner to help you do this.
A Note About Tax Advice
Tax rules vary between countries and can change over time. Your own position may also depend on where you live, whether you become tax resident elsewhere and how you use the property.
The information on this website is based on my research and experience and is intended as practical guidance. For a significant purchase, I recommend getting professional legal or tax advice specific to your circumstances.
Keep Exploring
Taxes and costs are only one part of buying property abroad.
You also need to consider where you want to live, healthcare, safety, residency, property prices and what everyday life will actually be like.
Explore the destination guides and start comparing the places you’re considering.