Calculation of the purchase price including additional costs – What is the final purchase price of a property? How high are the additional purchase costs and how is the agent’s commission divided? In addition to the transfer tax, costs are also due for the notary, the registration in the land register and the agent. Find out here how you calculate the final purchase price of your home, with a checklist and an example.
Additional purchase costs: transfer tax, real estate agent & Co.
Niet alle bijkomende aankoopkosten zijn in alle federale staten gelijk. Sommige bijkomende kosten, zoals de belasting op de overdracht van grond, verschillen van de ene federale staat tot de andere. Soms hangt het er ook van af of u een huis, een flat of een appartementsgebouw koopt. De beleggingsstrategie, d.w.z. inkomenseigendom of vastgoedbelegging, kan ook een verschillend effect hebben op de bijkomende aankoopkosten. Als u ook via een makelaar koopt, zult u ook een makelaarscourtage moeten betalen, die eveneens verschilt naar gelang van de deelstaat.
Real estate agent commission (3.57-7.14%; 50:50 when buying from a private seller)
in your own house in a dreamlike environment. How high are the additional purchase costs here?
Example: Buying a house in NRW including additional purchase costs
This short example shows how these additional purchase costs add up to the original purchase price. Suppose you want to invest in a detached house in NRW. Let’s, for simplicity, assume that after technical and commercial inspection the purchase price amounts to 100,000 euros.
Purchase price for a house in NRW: 100,000 euros
Calculating transfer tax in NRW
Depending on the state, the tax on the transfer of land ranges from 3.5% to 6.5%. Our property is located in NRW. One look at the table shows: the real estate transfer tax in NRW is 6.5%.
Land transfer tax in NRW (6.5%): 6,500 euro
Notary fees: Sealing of the purchase contract
You will also have to pay notary fees. The purchase contract must indeed be sealed. You can estimate this amount at 1.5% of the purchase price of the real estate.
Notary fees (1.5%): 1,500 euro
Land registry registration: Transfer of ownership
The transfer tax has been paid, as well as the notary? Great. After that comes the land registry registration. Here, the property you have purchased is now registered as your property. You must allow 0.5% for this transfer.
Land registry registration (0.5%): 500 euro
Real estate agent fees: Commission and distribution
As he is involved with a real estate agent, the agent’s commission is due in the final step. It is important to note here: If it is about the purchase of private property, the agent’s commission is split 50/50 between buyer and seller. If the purchase of real estate, however, is a commercial purchase (for example on behalf of a company), then the commission and its distribution are negotiable. The amount of the agent’s commission varies depending on the federal state. In NRW, it is 3.57%.
Real estate agent commission (3.57% [3.570 / 2]): 1,785 euro
Conclusion: Purchase price and additional purchase costs at a glance
The actual purchase price of the property is therefore 100,000 euros. When the additional purchase costs are added to this, we arrive at a total investment of 110,285 euros. Our tip: Create a concise checklist of the additional purchase costs you will incur from the beginning and add this to the original purchase price. This prevents unpleasant surprises regarding financing.
You want to invest in real estate and are looking for a suitable guide? Find everything from A to Z here: buying or renting, financing an apartment, searching for apartments, real estate portals, real estate agents, appraisals, purchase prices, negotiations, and taxes. Expert knowledge and experience, all in one guide.
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