What are the costs to buy a house in the Netherlands?

The costs of buying a house

The price of a home in the Netherlands is determined by a number of factors, including the property's location, size and condition, and the situation of the housing market. Some of the expenses you might anticipate when purchasing a home in the Netherlands are as follows:

1. The purchase price:

This is the amount you have agreed with the sellers to pay for the property. The purchase price is usually decided by the property's valuation as established by a competent appraiser and the market price compared to other properties in the neighborhood.

2. Mortgage fees:

If you are financing your home with a mortgage, you will be required to pay mortgage application fees and an appraisal report charge.

3. Notary fees:

To settle the acquisition of a property in the Netherlands, you must get in touch with a notary. The notary will charge a fee for their services, which will vary per notary office.

4. Transfer tax:

When you buy a property in the Netherlands, you must pay the government a transfer tax (overdrachtsbelasting). The tax is calculated based on the property's purchase price and is normally 2%.

5. Moving costs:

If you are relocating to the Netherlands from another country, you may be required to pay for the expense of shipping your goods to your new residence. This might include the expense of hiring a moving company, renting a storage space, or buying packing supplies.

6. Home inspection:

Before purchasing a home, it is a good idea to have a professional valuator/ technical inspector check its condition. This will allow you to discover any possible issues that need to be solved and, if required, negotiate a lower price. A technical house inspection might cost around € 500.

7. Furnishings and renovations:

Depending on the state of the property and your particular preferences, you may need to invest on furnishings, appliances, and other items to make the house seem like home. If the property requires maintenance, you may need to budget for upgrades or repairs.

A summary of the total costs and what you can expect

Let's assume that you have found a property in Amsterdam for € 500.000 that you would like to buy. The costs are as follows:

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1. Purchase price: € 500.000

2. Transfer tax: € 10.000

3. Notary fees: € 1.600

4. Valuation fee: € 850

5. Mortgage application fee: € 2.495 (starter fee)

6. Real estate agent fee: € 3.000

Total costs: € 17.945

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Keep in mind that the market value is an important factor including your income, which will determine what your maximum mortgage capacity is. If the market value is higher than the purchase price, then you are able to finance up to 100% of the market value and use the remaining amount for the financing fees.

Get in touch with our advisors to discuss your options.