What expenses are deductible when you buy a home?

by | May 23, 2019 | Purchase realtor, Taxes

When buying a home, you incur many expenses. The real estate agent, obtaining the mortgage, the notary, the land register, etcetera. But exactly what costs of this are tax deductible? Below you will find a clear overview of the costs that are and are not deductible when purchasing a home:

Cost Deductible or not
The costs of your buying agent Not deductible
The advice and mediation costs of your mortgage deductible
Ground lease redemption fee (if co-financed) deductible
Closing Provisions deductible
Preparatory commission (when extending validity of mortgage offer) deductible
Construction interest up to the date of conclusion of the purchase/construction contract Not deductible
Construction interest after the date of conclusion of the purchase/contracting agreement deductible
Building inspection Not deductible
Structural Inspection if for National Mortgage Guarantee deductible
Charges for National Mortgage Guarantee (NHG) deductible
Notary fees – title deed and land registry registration Not deductible
Notary fees – mortgage deed and registration at the land register deductible
Completion inspection Not deductible
Transfer Tax Not deductible
Acquisition of movable property Not deductible
Valuation costs for obtaining financing and/or NHG deductible
Building depot for renovation costs deductible

If you are just going to sell your home, check here to see what expenses are deductible when selling your home.

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