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Do you want to buy or have the house of your dreams built? It is essential to take into account all the costs related to your future investment. To avoid any unpleasant surprises, have all the cards in hand to determine what your home will really cost and your maximum budget not to be exceeded. Find more articles on the theme: Quote work for a house construction
The purchase price, agency and notary fees
It sounds obvious, but the purchase price of a property will affect the final cost. The purchase price of the land, the cost price of the construction or the price of a property already built condition the related costs, the amount of the amount to borrow, the agency commission, the notarial costs. Hence the interest in negotiating as best as possible to obtain the lowest possible purchase price. The period is currently favorable to take advantage of downward trends in real estate prices. A decrease of 10% can save you more than 20% on the final cost. Whether you buy new or old, you must pay notarial fees which will amount to approximately 6 to 7% of the purchase price of a property in the old and 2 to 3% for a property. new. Do you want to go through a real estate agency? You will have to pay agency fees freely set by the real estate agent. There can be big differences from one agency to another. Given the current real estate crisis, it's time to negotiate down agency fees.
Once your personal contribution has been removed, you will have a certain amount of money left to borrow. The final cost of your loan will depend on the interest rate obtained and the term of the loan. Within the limit of a maximum debt ratio of 33% opt for the shortest possible term (15 years is ideal). The more the loan is spread over time, the more it costs! For example, a loan of 100,000 euros over 20 years at 3% will cost you 40,400 euros of interest (excluding insurance). Taken over 25 years at the same rate (the rate is often higher), it will cost you 51,200 euros (excluding insurance), or 10,800 euros in additional interest. If you have an excellent customer profile, don't hesitate to negotiate the rate. In addition to the cost of borrowing, administration fees which vary from bank to bank. Like the rate, if your profile is "reassuring" you can get a lower rate. Count between 500 and 1000 euros in administration fees, to which are added the warranty costs (mortgage, privilege of lender of money, etc.) representing around 1% of the capital borrowed for old property and 2% for new property. Insurance is compulsory to obtain the granting of a loan. However, the MURCEF law allows you to compete. You are not obliged to take out the insurance offered by the lending organization as long as the one you have chosen offers the same guarantees. It's up to you to compare to get the most attractive rate.
Costs related to the enjoyment of the property
If you buy in the old or as part of a renovation, estimate the amount of work and upgrading. If the property is new, plan an annual budget for the current maintenance of a detached house. As an owner, you will have to pay a property tax. The price depends on the surface area of your accommodation and the tax rate fixed by the municipality. Two neighboring municipalities can tax at very different rates. It can be interesting sometimes to buy 500 meters further! Also take into account the costs related to daily transport to get to your workplace. A more expensive accommodation but which will allow you to move around on foot can be more interesting than a more attractive property which will require a monthly transport subscription or additional fuel costs…