Purchasing a residential property is a significant investment, especially if you intend to make it your long-term home or rent it out to tourists. However, owning a home comes with additional costs that go beyond the purchase price, such as property taxes, regular maintenance, repairs, and insurance coverage. It's important to consider these expenses before making a decision. Real estate market values can also fluctuate unpredictably, which may adversely affect the return on your investment. Therefore, it's crucial to research and carefully evaluate your options before investing in a property.