Build your budget from the specific property and transaction, rather than adding a standard percentage to the asking price. For each amount, record its currency, supporting evidence, payer and payment trigger. Leave unresolved costs visible instead of treating them as zero.
Establish the price and payment basis
Request a written offer identifying the exact unit, seller, sale price, payment currency and included items. List furniture, appliances, parking and storage separately, with supporting ownership or usage information where relevant.
If the advertised currency differs from the payment currency, ask how conversion will be calculated and who carries exchange-rate changes. Distinguish the advertised price, agreed consideration and any value used for an official assessment; ask the responsible adviser or authority to explain the basis for each.
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Create a purchase-cost ledger
Use the following as enquiry categories, not a list of charges or documents that apply to every buyer.
| Budget line | Evidence to obtain |
|---|---|
| Purchase tax treatment | Written case assessment, including whether the quoted price includes any applicable tax |
| Registry-related amounts | Transaction-specific assessment and payment instructions from the responsible office |
| Advice and representation | Engagement quote describing scope, exclusions and additional work |
| Translation, document preparation and valuation | Confirmation of what this transaction needs, followed by itemised quotes |
| Banking and currency conversion | Bank quote identifying conversion spread and transfer charges |
| Insurance and initial repairs | Property-specific insurance terms and repair estimates |
For every entry, record the quote date, validity, currency, agreed payer, tax inclusion and exclusions. Ask who must refresh the figure if the transaction changes. Use the official property acquisition guide to frame transaction questions and the GIB publications directory to locate tax guidance for your adviser.
Separate ownership costs from purchase cash
Ask building management for the current budget, recent accounts, payment record for the unit and proposed major works. Separate routine shared charges from owner-specific repairs and possible extraordinary contributions.
Add utilities, insurance quotations, maintenance and any management service you intend to use. Request a case-specific assessment of recurring taxes. Keep rental receipts and operating expenses in a separate worksheet; projected rent should not silently fund the purchase budget.
Maintain a third worksheet for a future sale, including sale costs and a separately assessed tax estimate.
Test the budget under changed conditions
Recalculate using your own assumptions for adverse currency movement, additional repairs and delayed completion. Identify which costs continue while you wait, such as accommodation, financing or repeated professional work.
Keep contingency money separate from assessed charges. It is a planning reserve, not a fee. Record how much additional cash you could provide without depending on rent or a quick resale.
Resolve payment conditions before committing
Before any reservation payment, document its recipient, purpose, treatment against the price, release conditions and agreed withdrawal or repayment terms. Have an adviser examine those terms; the label alone does not establish their effect.
Finish with a written open-items list naming each missing assessment, responsible person and decision affected. Pause the relevant payment until those conditions are resolved or you have explicitly decided how to handle them.