With which costs should i as a buyer take into account when purchasing my property?
In addition to the cost of the land and the building, as a buyer, you will pay registration fees and the notary's fee. If these terms sound a bit too technical for you, no worries, we'll make it crystal clear here:
1. Registration fees: Registration fees are taxes that you, as a buyer, must pay in the context of the sale of real estate. They represent a percentage of the value of your property and vary from region to region. In Flanders, the registration fees for existing homes have been set at 3% of the sale price as of January 1, 2022, in the case of a first purchase (if the buyer meets certain conditions). If you are buying a second property, the taxes amount to 12% of the sale price.
2. Notary's fee: When you buy a house or an apartment, you need to engage a notary. The notary charges you a fee for their services. These fees are determined by a Royal Decree and are calculated based on the purchase price of your property, according to certain percentages. The higher the sale price, the lower the percentage. As a buyer, you are the one who pays the notarial fees.