Purchase additional costs calculator – The purchase additional costs are neglected very gladly in the context of the construction financing. At the latest with the financing discussion and the discussion of the financing offers the additional expenses come then on the table. Many builders and real estate buyers calculate only with the price for the construction of the house and the outbuildings and the design of the garden. However, depending on the size, location and features of the property, the service charges can account for quite a large percentage. Often a five-figure sum comes together, which is due with the move into the house.
The most common questions include:
- What are the costs of buying real estate?
- How high are the ancillary purchase costs for a property?
- What are the costs of owning a condo?
- How much is the land transfer tax?
Big differences: land transfer tax in Germany
It is easily overlooked: The land transfer tax when buying a house, an apartment, a plot of land! Although each buyer pays this tax only once – namely when buying – but it can be up to 6.5% of the purchase price. Thus the purchase additional expenses are driven up substantially. Because this tax lies in the sovereignty of the respective federal state, there are considerable differences in the land transfer tax in Germany. With 3.5%, Bavaria and Saxony are the most favorable. If you want to buy a house in Hesse or North Rhine-Westphalia, for example, you have to pay the top rate of 6.5%.
The purchase cost calculator calculates which additional purchase costs are incurred when purchasing a property. Because with every purchase of real estate, regardless of whether it’s a condominium, single-family or multi-family house, ancillary purchase costs are incurred, some of which are not insignificant. In view of the large sums and amounts involved in the purchase of a property, the ancillary purchase costs can quickly accumulate when buying a house. Therefore, calculate in advance of the real estate purchase on your purchase incidental expenses that will arise.
Recommendations for ancillary purchase cost calculators
If you are planning a construction financing, it is advisable to realistically calculate the costs in advance. The ancillary purchase costs calculator will help you to determine the individual items. If you include this sum in your construction financing, you will not get into financial difficulties after moving into your house and can start your life in your own house in a relaxed manner.
Calculate ancillary purchase costs realistically
With the ancillary purchase costs calculator, you can break down the ancillary costs and integrate them into the planning of your construction financing, even without prior knowledge. Construction financing is based on various pillars. In addition to the classic bank loan, you can include a subsidised loan, a building savings contract and equity capital in the financing. It is important to know that the bank loan is only applied for when all other options have been exhausted. With the bank loan, you are opting for a very expensive form of financing. A development loan and a building society loan are more favourable in terms of interest rate. Equity is very important to secure the financing. Ideally, you should bring 25% of the total amount.
Building subsidy: This is how the subsidy helps you with financing
The Baukindergeld is another government measure to promote home ownership. The corresponding law was introduced in 2018 and expires on 31 December 2020. This means that only families who submit a building permit or purchase contract by 31 December 2020 can still receive Baukindergeld. Up to €12,000 is available per child over a period of ten years. Whether and how much Baukindergeld can be included in the financing depends on the owner’s income.
Here are the most important key points of the Baukindergeld:
- The “Baukindergeld” is the state subsidy for owner-occupiers. The subsidy amounts to 1,200 euros per year per child up to the age of 18 for a period of ten years.
- Income limits of 90,000 euros for a family with one child may not be exceeded. For each additional child, the tax-free amount increases by 15,000 euros.
- The incentive applies to properties acquired between 1 January 2018 and 31 December 2020. For new buildings, the date of the building permit is relevant.
- The evidence required for the application can be uploaded to KfW’s grant portal since the end of March 2019. After a successful review by KfW, the first partial amount will then be paid out.
Building blocks of ancillary purchase costs at a glance
The ancillary purchase costs represent an important part of this total sum. You add these costs to the total for the purchase of the house and the land. The ancillary purchase costs are made up of various items. These essentially include:
- Notary fees
- Brokerage fees
- Costs for the land transfer tax
- Insurance costs for construction and renovation work
- Costs for interim financing
- Costs of double payment of rent and financing instalments
With many construction loans, a five-digit sum is added to the purchase price of the property from the ancillary purchase costs. With the ancillary purchase costs calculator, you can determine these costs very accurately, because you can adjust the calculation to your individual requirements and get a very realistic result.
Simply use the ancillary purchase cost calculator
In the purchase costs calculator, all possible costs and fees that may be incurred in connection with the purchase of a house are clearly listed. Enter the items that realistically arise in your individual case. Find out in advance about the actual amount of the costs, because only then can an accurate assessment of the costs be made by the purchase costs calculator. Simply leave the fields for items that you do not have to pay empty. At the end of the calculation, you will see a value that approximates your actual incidental purchase costs. Add this value to your construction financing and apply for the loans based on the amount calculated in this way.
It is recommended that you allow for a buffer of at least ten percent. Many are looking in the context of incidental purchase cost calculator in particular for:
- House purchase and house valuation
- Tax deduction of incidental purchase costs
- Real estate transfer tax
Calculator at a glance
Calculator – Exact planning of the construction financing
Calculators are necessary in relation to construction financing in order to accurately determine the cost of purchasing or renovating a property. A calculator is also used to determine the cost of the loan. The credit costs are composed of the interest and the repayment portion for the current loan amount. The interest plays an important role. Since the term of a real estate loan is usually ten years, the interest payment is spread over a long period. If an offer from a bank is only half a percentage point cheaper in their interest, you can already save several hundred euros a year. This is also due to the high loan amounts, which for most construction financing a six-digit amount. Before taking out a loan, an individual consultation is important. Often the construction financing consists of several pillars and not just a single loan. A building savings contract, equity capital and development loans come before taking out the classic bank loan. The reason for this is that these financings are significantly cheaper than the bank loan in terms of their costs. The calculator helps you to divide the financing into different elements and thus determine the costs with certainty.
- Learn more about the calculator.
Interest calculator – Construction financing
The interest rates are a very large item in a construction financing. It is recommended that you compare the various offers and conditions well in advance. In this way, you will find out which construction financing is particularly favorable. Since the interest is a very large part of the monthly loan payment, especially in the first years of real estate financing, it is important that you try to save costs.
- Learn more about the interest calculator.
Budget Calculator – Equity & Income
Before the purchase of a house, a comprehensive renovation or a new building can be planned, it is very important to determine the available budget. Construction financing is planned over a period of many years. Financing between ten and 25 years is possible. It is important that the financing is planned from the beginning on a secure foundation. The basis for the budget that is available to you for the conclusion of a construction financing is your income.
- Learn more about the budget calculator.
Offer comparison calculator – advice & options
The offer comparison calculator is an important tool when it comes to choosing a partner for taking out construction financing. Many builders are dependent on taking out a classic loan at a bank or savings bank, because the funds from the equity, a building savings contract and a subsidized loan are not enough. Although the comparison possibilities of the indication by the Internet are very simple and transparent, many owners trust only in the offer of their house bank.
- Learn more about the
quote comparison calculator.