A nice overview of the costs you need to consider.
Fixed costs
Transfer tax
The transfer tax on a home is 2% for buyers 35 years and older or for buyers whose home is not their first purchase. If you buy the property and then do not live in it yourself, you pay 8% transfer tax. However, there are exceptions to this for STARTERS, they pay 0% transfer tax under certain conditions. Starters are people who buy their first home to live in it themselves. There are a few conditions attached to this:
- The property must not cost more than €400,000
- It involves the purchase of a first home
- The buyer(s) are between 18 and 35* (i.e., not older than 34)
- The buyers must live there themselves
*The exemption applies to each buyer individually. Is one of the buyers 35 years of age or older and the other under 35 years of age? Then the person aged 35 or older pays 2% tax on his/her share. The person younger than 35 years of age pays no tax on his/her share (if he/she also meets the other conditions).
Notary
In the Netherlands, you are obliged to have the transfer completed at the notary.
The notary passes the deed of delivery/ownership and the mortgage deed. For this, notaries charge fees. The notary also incurs costs for fees, search costs and costs for registering the registers in the land register.
Optional costs
Financial advisor; advisory and brokerage fees
You pay fees for mortgage advice and the actual completion of the mortgage and related insurance.
Appraiser
Getting a mortgage on an existing home requires an appraisal report. So you get your home appraised and pay an appraisal fee for this. A mortgage lender always asks for an appraisal report. Your maximum mortgage is equal to the appraisal value.
Building inspection
You can choose to have an architectural consultant prepare an architectural report. The advisor will make an appointment with the selling broker to inspect the house. Any defects or things that require maintenance will then be highlighted in such a report.
NHG (National Mortgage Guarantee)
The National Mortgage Guarantee (NHG) gives you a guarantee on your mortgage, under certain conditions. Do you have to sell your house for less than you need to repay your mortgage? Then the guarantee can ensure that you do not have to pay this residual debt yourself. This could happen, for example, because you are splitting up for whatever reason.
To qualify for a mortgage with NHG, the following conditions are important:
- The limit for mortgages with NHG will be €355,000 in 2022
- If you want to go for home preservation, the limit in 2022 for a mortgage with NHG is €376,300
- It will cost you a one-time 0.6% on the total mortgage amount in 2022
- It should see a dwelling used as a principal residence
The benefits of a mortgage with NHG
- You pay a lower interest rate
- There is a conditional safety net for when you can no longer pay your mortgage
For current conditions and rules, please refer to the NHG site.
Security deposit/Bank guarantee
When you purchase your home, you enter into a purchase agreement. In most cases, the seller will require you, the buyer, to pay a deposit or provide a bank guarantee after signing the contract. This gives the seller more certainty that you will actually buy the property. A deposit is usually 10 percent of the agreed purchase price and must be paid within two weeks of signing the deed of sale. If you don't have the money or don't want to deposit it yourself, you can have a bank guarantee drawn up. The bank will then guarantee that amount. There is a charge for a bank guarantee.
Brokerage fees
You pay fees to the real estate agent for assistance in buying or selling a home. These costs are also called brokerage commission. Our commission is always a fixed price, namely € 6,000 including VAT if we have found the house ourselves and offer it exclusively to first-time buyers. If you have chosen one of our purchase assistance variants, we also charge a commission. You can find these rates on the buying guidance page.
