Droits de mutation, frais de notaire, garanties : les coûts cachés d’un achat immobilier
When you start buying a property, whether it is a main residence or a rental investment, the price displayed on the ad is only the tip of the iceberg. In reality, the buyer must plan for a set of additional costs that are sometimes unknown: notary fees, transfer taxes, bank guarantees, application fees, etc. These "hidden costs" can represent up to 10% of the total amount of the operation. Anticipating them is essential to avoid unpleasant surprises and to correctly calibrate your financing.
Notary fees: what they really cover
- Transfer taxes (or registration fees)
- These are taxes collected on behalf of the State and local authorities, representing about 5.8% to 6% of the price of the property in the old property. These fees are reduced to around 1 to 2% in new buildings (VEFA), which is a lever for optimisation for certain buyer profiles.
- The notary's fees
- Set by decree, they vary according to a progressive scale applied to the sale price. They represent about 1% of the price.
- Disbursements
- These are the costs advanced by the notary to obtain official documents, publication costs, etc.
Example : for the purchase of an old apartment for €400,000 in Douvaine or Divonne-les-Bains, the notary fees will reach around €27,000.
Bank guarantees: a cost that is often underestimated
- The mutual guarantee (Crédit Logement-type organisation)
- Cost: about 1 to 1.5% of the amount borrowed, part of which can be repaid at the end of the loan.
- The mortgage or lender's privilege (PPD)
- Cost: about 1-2%, but not recoverable, with a release fee for early resale.
Application fees, creditor insurance, diagnostics: other items not to be neglected
Bank file fees
They vary depending on the establishment, generally between €500 and €1,000. Sometimes negotiable or offered as part of a commercial campaign.
Mortgage insurance
It is mandatory and covers the borrower in the event of death, disability or incapacity for work. Its cost depends on age, state of health, the amount borrowed and the duration of the loan. It can represent up to 0.30% of the borrowed capital per year, i.e. several thousand euros over the entire term.
Technical diagnostics to be provided by the seller
Although paid for by the seller, these documents (DPE, asbestos, lead, electricity, etc.) may also be of interest to the buyer to assess any work to be planned and anticipate a future budget.
Work and furnishings: planning for the post-acquisition period
- Upgrading or refreshment work
- Moving expenses
- Furniture or appliances
- Trustee fees (in the case of a co-ownership)
So many budget lines that can add up quickly, especially in tense areas such as Greater Geneva where properties sometimes leave with little negotiation.
How can you anticipate all these costs effectively?
- Ask your notary for a precise detail of the fees in advance, depending on the type of property (old or new).
- Make a loan simulation including guarantees and insurance.
- Make a sufficient deposit to cover these additional costs (they can only rarely be financed by the loan).
- Call on a local professional, such as the Imogroup Grand Genève team, to support you and avoid oversights in your provisional budget.
A real estate purchase cannot be improvised. In addition to the displayed price, you must include all the peripheral costs to assess the real overall cost of your acquisition. Good anticipation, accompanied by informed advice, will allow you to keep control of your project, avoid unforeseen financial events, and move forward serenely in your acquisition process.
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