The Czech property running costs

The Czech property running costs
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The purchase price and mortgage conditions are not the only things to bear in mind when calculating the affordability of a property. Here are some of the additional costs you are facing when buying a house or flat in the Czech Republic.

Real estate tax

The real estate tax is raised on both land and buildings. It depends on the type of land, such as business, residential etc. Generally the tax is charged to the owner of the real estate and is independent of his income. There are also building tax and land tax to remember about.

Insurance

As a home owner in the Czech Republic you have to be insured against burglary as well as fire and other disasters. Therefore you have the choice between various levels of insurance protection for your home. It is also a good idea to have home-owner insurance which covers for damages to the building itself and its contents in the event of fire, flood, theft, vandalism, storms, hail and lightning. In addition you could take out insurance against natural disasters. There are many reputable insurance companies in the Czech Republic providing the same coverage in their home-owner insurance. It is advisable to check all of them out before deciding which one to choose.

Utility costs

When you have bought a new home in the Czech Republic you have to make sure that all connections for electricity, water and natural gas are available and usable on your property. The registration for utilities itself is quite easy. You will need to register with the company that provides the service in your area. The amount you’ll have to pay is estimated on either the previous consumption or the number of people living in the house and the size of the house. The payment is usually on a monthly basis.

You will also have to register for waste removal with the local company that is responsible for your area. You will need to specify the size and number of containers needed. There are separate containers for paper and glass in the Czech Republic.

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