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Buying a home involves more costs than just the purchase price. Think of transfer tax, notary fees and other expenses that can add up quickly. Do you know what to take into account? Find out here and avoid surprises!
The abbreviation “k.k.” (buyer costs) after the asking price of a home indicates that there are additional costs in addition to the purchase price. These can be mandatory costs, such as transfer tax, notary fees, but also additional costs for, for example, an architectural inspection or a purchasing agent. Some of these costs are tax deductible. In some cases, you can co-finance the buyer's costs. Newly built homes often have “free in name” (v.o.n.), which means that you do not pay transfer tax, because the home is transferred directly from the developer to you.
The notary will send you a detailed invoice with all costs. Before the transfer of ownership takes place and you receive the key, the full amount of the buyer's costs must be in the notary's account. It depends on your funding whether it can be co-financed or the amount has to be paid all at once, so you cannot pay in installments.
When the financing need (the total amount of money you need for everything) exceeds the home value, you, as a buyer, will have to pay the remainder yourself. But what are those costs exactly? Here are the most important mandatory costs:
- Transfer tax
The transfer tax amounts to 2% of the purchase price. If you are under 35 years old and you buy a home under 510,000 euros (in 2024), you will not pay tax. This limit will increase to 525,000 euros in 2025, another condition is that you have not made use of the starter exemption before.
- Notary fees
Notary fees are mandatory for the transfer of the property. You usually pay between 500 and 1,200 euros for the mortgage deed, and between 800 and 1,600 euros for the transfer deed, depending on the notary.
In addition to mandatory costs, there are additional expenses that you may have to take into account. Here are the main additional costs:
- Appraisal costs
For a mortgage, you often need a valuation report. A desktop valuation costs between 90 and 250 euros, but not every mortgage lender accepts it. A complete, validated valuation report by a licensed appraiser costs between 600 and 900 euros.
- NHG warranty costs
The National Mortgage Guarantee (NHG) still costs 0.6% of the purchase price in 2024, but this will be 0.4% in 2025. The maximum purchase price with NHG is 435,000 euros in 2024 and 450,000 euros in 2025.
- Deposit or bank guarantee
The deposit is usually 10% of the purchase price. If you don't have your own money, you can arrange a bank guarantee via the bank. This costs 0.1% of the purchase price. However, there are also collaborating parties that use a different rate, which is often half of the other option.
- Purchasing agent costs
You pay a commission for a purchasing agent. This is usually a fixed rate or between 1% and 2.5% of the purchase price.
- Structural inspection
An architectural inspection provides insight into the condition of the home. The costs range from 350 to 600 euros.
- Advice and mediation costs
For mortgage advice and mediation, you pay an average of between 1,500 and 3,500 euros, depending on the advisor.
Copper costs can be considerable, but luckily you can deduct some of these costs when you file a tax return. This applies to:
- Mediation costs
- Part of the notary fees
- Appraisal costs
- Costs for the NHG application
Buying a new home remains exciting, whether this is your first time or not. We are happy to help you with this! Even with questions you didn't know you were going to ask. Contact one of our advisors and do the Free Mortgage Check. Based on your personal situation, we calculate the maximum mortgage. At Van Loon, we are happy to provide you with the right advice.