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Additional costs

Additional costs

It is important to remember that in addition to the property price, purchaser bears other expenses as well, such as tax payments, notary fees and other fees.

Additional expenses are:
Property purchase tax (Grunderwerbsteuer) currently 5-6% of the amount specified in the purchase agreement (depending on the federal state). 
Brokerage commission is prearranged percentage to intermediary (broker) of the purchase price (depending on the federal state it ranges from 3 to 7%).
Notary rate is 1-2% of the value specified in the purchase and sale agreement.

Taxes and Homeowners Association Fee:
The land tax is 0.5-1.5% per annum of the real estate market value.
Community charges: electricity (rate is from 0,20 € / kWh), gas heating (from 0,05 € / kWh), water (from 2,50 € / m3) as well as services such as garbage collection, cleaning, etc., prices on which are set by the Municipality on a case-by-case-basis.
Property insurance: payment amount depends on the insurance type, the property size and ranges from € 200 per year.

Real Estate Germany

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