Buying a property: it takes preparation. Determining your borrowing capacity, finding your property, finding your loan... Your special acquisition to-do list is probably already well filled. But have you thought about all the additional costs that may be involved? Notary fees, mortgage fees and housing costs, we tell you more in this article! 

The essentials of a property sale: notary fees 

It is a box that we must pass through to see our real estate project become a reality. The notary's fees are made up of several types of fees. On the one hand, there is 7%, which is the registration fee minus the Bellegen Akt, and on the other hand, the notary's fee.

The costs of the mortgage 

It is no secret that when we borrow from the bank, whatever the project, we pay interest. But in addition to the interest, we have to think about the mortgage costs. A mortgage on the property being purchased is required by the bank. It is a guarantee for the bank in case of inability to repay the loan. The notary is responsible for registering it at the Mortgage Office.

It is also advisable to take out outstanding balance insurance. This is not compulsory, but it is a protection for customers, generally in the event of death. The insurance will take over the loan, especially in the case of a couple, so that the co-borrower does not have to pay the entire loan. 

Note that the bank's administration fees, mortgage fees and outstanding balance insurance are deductible from your tax return.

Housing purchased: should I expect other costs? 

In addition to the usual costs such as home insurance, water, electricity and gas, there are other costs to consider.
Some communes charge an infrastructure fee and a connection fee, check with your future commune.

Becoming a homeowner also means having to deal with certain unforeseen events or renovation work. This is why it is often preferable to include a special budget for renovation work in your purchase budget. Don't hesitate to contact your broker who will advise you on the budget to allow for your project.

If you have already identified a property that you would like to work on, get free quotes from luxembourg craftsmen

Our brokers, thanks to their expertise and experience, are also at your disposal to establish with you a budget adapted to your real estate project. Make an appointment!