Consider ancillary costs

You need to take into account all ancillary costs that are incurred once when purchasing a property. These include: Real estate transfer tax: Depending on the federal state, 3.5 % to 6.5 % of the purchase price Notary costs: Estimated 1 % of the purchase price Land register entry: approx. 0.5 % of the purchase price Development costs: Only relevant for those who are biulding a house. Properties under construction still need to be connected to the electricity, water, telecommunications, gas and sewerage networks. The municipalities can demand that you cover up to 90 % of the costs. Moving costs: Are incurred if you hire a moving company. Here you should calculate in about 500 to 2,000 €. Brokerage fee: This can amount to up to just over 7 % of the purchase price. Renovation costs: Depending on the respective effort, these costs must also be taken into account. Furthermore, it is also necessary to include the running costs for the maintenance of the residential property in the evaluation. These include: Electricity, water, gas: Keep in mind that due to the transformation of the energy policy and the associated tax increases or the possible introduction of new taxes, rising costs in this area can be expected in the coming years. Property tax: In contrast to the one-time real estate transfer tax, the property tax is due every year. It is collected by the municipalities and is the national average of just under € 134. Maintenance costs: You may also have to take into account maintenance and repair costs for heating or solar systems.