Attention when buying real estate: consider additional costs!

Who buys a property, not only pays the pure purchase price: In addition, there are some additional costs, which can add up to several thousand euros. Home buyers should consider all costs right from the start, so that the financing is on a solid footing.

Additional costs when buying a property: an overview

Overall, the additional costs for a real estate purchase add up to about 10 to 20 percent of the purchase price. Realtor, notary, land registry, tax and ancillary costs: You must count on these amounts!

  • Brokerage brokers: Brokers mediate much of the real estate available on the current market, the bill usually pays the buyer. The commission is usually between 3 and 6% of the purchase price.
  • Costs for the notary: Homebuyers are not around the notary bill, the German legislation sets it so. The notary sets up a sales contract, verifies the purchase and arranges the land register entries. He receives about 1.5% of the purchase price.
  • Invoices of the Land Registry Office: After the purchase of real estate further bills flutter into the house: The Land Registry Office makes its demands for the changes made in the land register. The purchase price is 0.5% of the purchase price, the registration as the owner and the land charge entry per 1%.
  • Land transfer tax: Each federal state sets its own rate for the land purchase tax, this amounts to approximately 3.5 to 5% of the purchase price.
  • Credit Expense: Also keep in mind that you will probably have to pay a professional appraisal fee to get your loan. The price for this is about 0.5% of the loan amount.
  • Commitment Interest: If the bank provides you with the loan before you finally call it, you pay commitment interest. These amount to about 0.1 to 0.25% of the total loan amount per month.

Example of real estate purchase: indicative of additional costs

A couple makes a real estate purchase. The house in the most beautiful downtown location on the edge of the pedestrian zone costs 230,000 EUR, a broker helped with the mediation.

Cost overviewprice
1st brokerage10,350 EUR
2. Notary fees3,450 EUR
3. Land Registry5,750 EUR
4. Property transfer tax9,200 euros
5. Additional costs for the loan16,100 EUR
total44,850 euros

Private purchase: save brokerage commission

The most significant savings option in the context of real estate purchase additional costs offers the brokerage. Those who take the trouble to look for direct selling houses can save a lot of money. Because: The brokerage fee normally still pays the buyer!

Tips & Tricks

The additional costs for the purchase of real estate are not considered to be low, you plan carefully in your financing with: If you do not have the full amount at hand, talk to your bank, if there is a possibility to increase the loan amount accordingly.

Video Board: What To Expect When Buying A Home - Southern California Real Estate Agent