Calculating correctly: Costs incurred when buying a house
Private garden, modern kitchen and a living room with extra-large windows. You have long since finished building your personal dream home in your head. But have you also thought about the additional fees? Because these are incurred when buying a house. What additional costs should you expect when buying a house and why are the stars aligning favourably for new homeowners?
Additional costs when buying a house - what you should expect
Looking for your very own dream home? Whether it's a house on the water or a villa with a garden, if you prefer to buy rather than rent, you will have to factor in the following additional costs on top of the purchase price.
An overview of additional costs when buying a house:
- 3.5 % land transfer tax
- 1.5 % contract formation fee (plus notary's certification costs, cash expenses & VAT)
- Up to 1.2 % land register entry fee. New until 30 June 2026: no fees on the first EUR 500,000 of the purchase price!
Additional costs also include estate agent fees, which can account for up to 4% of the purchase price. But ...
Glor-ious tip! Don't want to pay estate agent fees? Neither do we! That's why we simply don't charge them for Glorit houses. Nevertheless, you can still enjoy excellent advice from our own experts, who know every house inside out. |
Is it wise to buy a house now?
The answer to this question is of course in the eye of the beholder, or rather in the eye of the buyer. In view of the decline in construction activity coupled with the steady increase in the population and the resulting shortage of supply on the property market, things cannot get any cheaper in the new construction sector. In addition, collectively agreed wage increases (2024: + 7.3 %) and rising property prices are also contributing to the cost increases.
Glor-ious tip Trends and forecasts on the development of property prices in Vienna can be found in this article: Quo vadis property market: How are property prices developing in Vienna? |
The KIM regulation, which was recently relaxed, could be amended again and thus simplify the utilisation of exceptional quotas. This in turn could make debt financing and property loans significantly easier.
The Austrian construction package also saves ancillary costs when buying a house; specifically, since the National Council resolution of 20 March 2024, the fees for land register registration have been waived for the next two years (1 July 2024 to 1 July 2026). From this perspective, it is fair to say that the stars are currently aligned quite favourably for buying a house.
