Additional costs when buying a flat

Buying residential premises is undoubtedly a considerable investment. Unfortunately, the cost of purchase must include not only the price of the property but also other expenses. Learn about the additional costs of buying a flat on the secondary and primary markets.

Flats from the primary market

First, we want to focus on the additional costs of buying a flat in developer's standard (stan deweloperski). This information will let you draw up a reliable cost estimate and choose a suitable mortgage amount. Let us start with VAT. It is a compulsory charge. For a new flat it has been lowered to 8%. This rule, however, does not apply to every property. To benefit from the lower rate of tax, we must consider only flats whose floor area does not exceed 150 square metres. For a house, the limit is 300 square metres. During talks and negotiations with the developer, pay particular attention to the gross price!

When carrying out transactions on the primary market, we must also take care of several notarial formalities. One of them is opening a land and mortgage register (księga wieczysta) – a compulsory step that incurs a fee.

The court fees are fixed. Opening the land and mortgage register costs 60 PLN. Entering the ownership right costs 200 PLN, and entering a claim under the developer agreement in the land and mortgage register costs 150 PLN. Registering a mortgage also incurs a fee.

Additional costs when buying a flat – civil law transactions tax

Another charge to take into account when buying a flat is the civil law transactions tax (PCC). It is 2% of the market price of the premises. This amount is calculated by the notary. When buying on the secondary property market, you must also pay the fees connected with a visit to the notary. Other circumstances may also arise. If we use the help of an estate agency, the agency's commission is agreed before the purchase. If you decide on a loan, also take into account the costs connected with it. This is an important element that cannot be left out of the cost estimate for the years of its repayment.
Do you need other information related to the additional costs of buying a flat? Contact an estate agent from the REMAX Gold office. We will dispel your doubts and give you the necessary advice on property transactions.

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