![]() That means, you as the buyer are responsible for the 20% down payment, plus additional upfront costs. Spain: In Spain, lenders will generally let you borrow up to 80% of the appraised value of the property. The notary expenses are also borne by the buyer and can cost between €1500 and €3000, depending on the price of the house. But that’s not all-the agent fees and non-resident registration tax make up another 20% of the purchase price in transaction costs. In most cases, you’re required to pay a 5% deposit on your purchase offer and another 20% when signing the sales agreement. Italy: If you’re planning to purchase a property in Italy, you’ll need quite a bit of cash in the bank. And notary fees are generally around 8% of the property purchase price and cannot be covered by the mortgage. The agency fees are often included in the advertised cost of the property, meaning the mortgage will cover those, too. Your nationality and country of residence might also play a role in the final decision. The offer will be determined by a couple of factors-namely, your monthly income and the duration of the mortgage. ![]() ![]() Here’s a look at the cost breakdown country by country.įrance: In France, most lenders will agree to lend 40% to 80% of the value of your chosen property. In most European countries, the notary fees are tied to the value of the chosen property-the more expensive the house, the higher the fee. Other upfront costs may include broker or agency fees and notary expenses. Depending on your chosen dream home, it may be the most considerable expense attached to a home purchase. While mortgage policies vary across Europe, the required down payment tends to be in the range of 15–20% of the property value. A deposit or down payment will most likely be the heftiest upfront cost when it comes to buying a house.
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