If you are buying a property, you should understand, that in addition to the the price of the house we also will have to pay purchase expenses, such as taxes, notary, agency …
Normally it is calculated, that these costs are 12-13% of the property value. All depends on whether it is a new built property if it is resale, if we need mortgage or not.
The new build property is being purchased to the promoter / builder and you are the first owner.
In this case you must pay 10% VAT of the price of the house. Stamp duty – 1.5% (relevant only when buying real estate on the primary market);
The resale housing is being purchased to another owner who has already lived there. In this case, you must pay the Property Transfer Tax (ITP), which varies depending on where the property is. Usually it is 10% of the value of the sale.
The third tax applied on all purchases related to a mortgage, is the Tax Documented Juridical Acts (AJD). It is a regional tax, which is not calculated of the price of housing, but in relation to the mortgage liability.
Valuation.
If you request a mortgage to purchase your house, the creditor will require a valuation of housing. These costs range from 250€ – 400€ upwards.
Notary and registration fees.
Purchase and mortgage are two related but different contracts. You will have to pay two different fees separately (notary and registration fees.)
The cost for both is usually 1.5% of the mortgage liability.
Agency
By making the purchase with mortgage , the inscription procedures must be undertaken by an agency. The agancy charges between 100 and 200 euros for writing.
