Anyone fulfilling their dream of owning their own home and purchasing an existing property should not focus solely on the advertised purchase price. Although this represents the basis, it only reflects part of the actual expenses. In addition to the mandatory ancillary costs, modernization, maintenance, and adaptation to current living and energy standards play a decisive role. Without careful calculation, unpleasant financial surprises may await you later on.
Below you will find an overview of the most important cost factors that should be realistically taken into account when buying a used house.
In addition to the actual purchase price, there are expenses that cannot be avoided and are often underestimated. Depending on the region, these can quickly add up to 10 to 15% of the purchase price:
Real estate transfer tax: between 3.5% and 6.5%, depending on the federal state
Notary and land registry fees: approx. 2% on average
Brokerage commission: highly variable, in some cases up to 7.14%
Example:
For a purchase price of €400,000, additional costs of between €46,000 and €60,000 are incurred – on top of the purchase price.
Hardly any older house can do without modernization. Even if the property appears well maintained, costly work may be hidden. Typical items include:
Renovating the roof, windows, or heating system
Checking pipes, insulation, and facade and replacing them if necessary
Interior work such as bathrooms, floors, kitchen, or painting
Energy efficiency measures: insulation, heat pumps, photovoltaics, or efficient heating systems—especially in view of rising energy costs and stricter legal requirements.
Depending on the age and condition of the house, modernization costs can quickly run into five figures.
Even after purchase and renovation, recurring costs must not be forgotten. These have a regular impact on the household budget:
The purchase price alone reflects only a fraction of the financial reality. Anyone wishing to purchase a second-hand property should include ancillary costs, renovations, and ongoing expenses in their planning from the outset. This makes the path to home ownership calculable—and the dream of owning your own home does not become a cost trap, but a sound long-term investment.