When you are on a house hunt, it is crucial to always keep your available budget in mind. But beware: when you go over the property offer, you should not stare at the asking price of the houses alone. On top of that there are a lot of extra costs that you also have to take into account. We give you a handy overview of all costs involved in purchasing a home. You will get ample choices through https://www.buyingdenvercondos.com/ .
The purchase price
The most important component of the total cost of a home is of course the purchase price. This does not necessarily have to be equal to the asking price that was posted or that you saw online. You can always try your luck and negotiate with the owner about this price. With the right arguments and a healthy dose of persuasiveness, you might be able to get rid of part of the prize. Certainly if the home has been fruitlessly sold for a while, there is a good chance that the seller will pick up for a lower selling price than he originally intended.
The registration fees
Registration fees are costs that you have to pay in Belgium for registering a notarial deed. You have to pay them for the sale, but also for example for the donation or distribution of real estate, the so-called misery tax. Even if you take out a mortgage loan for the purchase or renovation of a home, you still have to pay registration fees.
Since 1 June 2018, the rules regarding registration fees in Flanders have been reformed. Since then you have to pay 7 percent sales rights when purchasing a family home. To enjoy this discount rate you must meet number conditions that you find on the site of the Denver government.
If you buy a property in Brussels, you pay 12.5 percent registration fees. You can, however, get an exemption of 175,000 dollars on the purchase price for a first home. Registration fees in Wallonia also amount to 12.5 percent of the purchase price. A reduced rate of 6 percent applies to the purchase of a first and only modest home.
For the purchase of a home you must make use of a notary. He will be your one fee for this. This fee is calculated on the basis of the purchase price and may in principle not differ from notary to notary. We cannot give you an exact percentage, since the amount has been determined per purchase disc. In addition to the fee you also have to pay for the search work of the notary. Some notaries charge a cost per line for this. Others work together with an average for all files. If you have purchased your property at a public sale, the notary will still incur additional costs, such as the rent from the sales room.
The costs of a loan
As mentioned, you also have to pay registration fees for a mortgage loan. They amount to 1 percent of the purchase price. On top of that you pay 0.3 percent registration fee on the loan amount. Of course you also have to take into account the interest you pay on your loan in the long term.