Difference in ancillary employment costs between existing property & new construction

  • Erstellt am 2020-07-21 13:41:04

mjammjammjam

2020-07-21 13:41:04
  • #1
Hello,

to the old hands: are the ancillary acquisition costs cheaper with one of the two variants?

Best regards
 

face26

2020-07-21 13:44:40
  • #2
Yes, but it depends...
 

Altai

2020-07-21 13:45:28
  • #3
Clear answer: it depends. Real estate transfer tax applies to the acquired property according to the purchase price. If I buy a plot of land, the purchase price is likely lower than for an existing house. If I buy a "finished" house from the developer, it is more comparable. If a broker is involved, you also pay a commission on the purchase price - same argument. Conclusion: the property with the lowest purchase price incurs the least ancillary acquisition costs.
 

face26

2020-07-21 13:46:27
  • #4
And now seriously... What is the purpose of your question and what are you comparing? Same size or same purchase price? What comes to mind immediately is, if you don’t build with a developer but buy the land separately, then for the new build you only pay the property transfer tax on the land and not on the entire "volume".
 

Pinky0301

2020-07-21 14:17:31
  • #5
With an existing property, a small amount of real estate transfer tax can be saved if the inventory (e.g., fitted kitchen) is listed separately.
 

nordanney

2020-07-21 15:01:10
  • #6

However, this also reduces the value of the property for financing purposes and can lead to paying several times more interest due to worse terms than the amount saved on property transfer tax.
 

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