Like Scott Nordheimer you consider becoming an owner, you should bear in mind that the costs of buying a house can represent more than 30% of the value of the home you want to buy. In SCOTT NORDHEIMER we give you all the details so you can take accounts.

What are the costs of buying a home?
What are the expenses of mortgages?
Costs of buying a home (summary table)
Can I buy an apartment without having anything saved?

 

If you are thinking about buying a house, it is essential that you take the calculator. And more if you need to ask for financing. Although in some banks you can get mortgages at 100%, it is normal that most do not lend you more than 80% of the value of the home you want to buy: that is, if the house of your dreams is worth 100,000 euros, in rare cases you will get give you more than 80,000 euros. Hence, the first thing that you should consider before thinking about being an owner is if you are able to have saved the 20% that an entity will not leave you.

When you have ascertained that you have that amount, you are sure to have more questions: what expenses and taxes do you have to pay to buy a home? Will the bank charge me something for hiring a mortgage? To get rid of doubts, at Kelisto we have set up accounts to know how much these expenses amount to and, in total, how much you should have saved to buy a house. For this, we started from the figures of an average mortgage in Spain (around 120,000 euros, according to data from the National Institute of Statistics), which would be used to buy a new house of about 150,000 euros in the Community of Madrid, although with the indications that we will give you, you can make numbers for your particular case.
What are the costs of buying a home?
1. Taxes:

If you buy a new home:

Those who buy a brand new home will have to pay two types of taxes:

VAT, which will be 10% (that is, 15,000 euros for an example like ours).
The Tax on Documented Legal Acts (AJD), which varies according to the autonomous community, although it usually ranges between 0.1% and 1% of the value of the house. For a case like the one analyzed, I would have to pay 0.5%, that is, 750 euros.

If you buy a second-hand home:

In this case, you only have to pay a tax: the Transfer Tax Patrimonial, which depends on the autonomous communities and ranging from 5% to 10% of the deed price of the house.
2. Other expenses:
Notary fees:

To be able to write and certify the purchase of a home you will have to go to a notary, who will charge you a fee for the procedures. These vary depending on the price of the house and other factors, such as the length of the deed or the number of copies, although it is usual to oscillate between 0.1% and 0.5% of the price of the property. In our case we would be talking about a maximum of 750 euros.
Registration fees:

The registration costs are divided into two parts:

The payment of the simple sheet, which serves to verify the ownership of the house and its charges (for example, if there were unpaid taxes or an associated mortgage): around 20 euros.
The registration of the deed of sale in the register: about 160 euros.

Management expenses:

The administrative expenses are not limited by law and vary according to what each one establishes, although they tend to move between 150 and 300 euros. With these fees you will be paying for tasks such as registering the property or paying taxes.
What are the expenses of mortgages?

One of the keys to the new mortgage law, which entered into force on June 16, is that it clarifies who will have to pay the expenses of mortgages and, as a result of this new distribution, reduce the costs that the consumer, who will only have to take care of two:

The expenses of appraisal.
The corresponding notarial fees, in case you want an extra copy of the deed.

The bank, therefore, will have to assume the rest of expenses of the mortgage, that is to say, those of agency, notary, and registry, in addition to the tax of Documented Juridical Acts (AJD). Of course, there are some who even take care of the costs of the notary, as is the case with Bankia, Bankinter, COINC (its digital platform), Ibercaja and Unicaja.

Mortgage Without Variable Commissions (Income ≥ 3,000 €)
Product Mortgage Without Variable Commissions (Income ≥ 3,000 €) of Bankia
Interest

0.99%
+ Euribor -1.89
TIN Output

1.99%
C. Opening

€ 0
Go to the offer
More details
No Mortgage
Bankinter Without Bankinter Product
Interest

0.99%
+ Euribor -1.89
TIN Output

1.99%
C. Opening

€ 500
Go to the offer
More details
Variable Mortgage
Product Variable Mortgage of COINC
Interest

0.99%
+ Euribor -1.89
TIN Output

0.99%
C. Opening

€ 0
Go to the offer
More details
Hipoteca Vamos Variable (up to 60% of the VT)
Product Hipoteca Vamos Variable (up to 60% of the VT) of IberCaja