How much buying a flat will cost you besides the purchase price
· 5 min read
When buying a flat, most people focus on the purchase price and the size of the mortgage. But there is a range of other expenses around the transfer itself. If you count on them in advance, they will not surprise you at the last minute.
Your own funds
For a mortgage on your own housing, the bank lends a maximum of 80% of the property value, and up to 90% for applicants under 36. You must have the rest from your own money. Beware, the bank works from the value according to its own valuation, which may be lower than the purchase price.
Overview of additional costs
| Item | Indicative amount | Note |
|---|---|---|
| Entry into the cadastre (katastr nemovitostí) | CZK 2,000 | per application; with a mortgage also the entry of the lien |
| Property valuation for the bank | usually a few thousand CZK | some banks pay for it or give a discount |
| Lawyer's or notary escrow (úschova) | according to the fee schedule | protects the money until the cadastre entry |
| Signature verification | tens of CZK per signature | at a Czech POINT or a notary |
| Property insurance | according to the flat's value | mandatory with a mortgage |
| Moving and furnishing | individual | an often underestimated item |
What not to forget after the purchase
- Property tax (daň z nemovitých věcí): the return is filed by 31 January of the year following the purchase, then it is paid every year.
- Transfer of utilities and registration for waste collection.
- For a flat in an SVJ (owners' association) or a cooperative, monthly advances to the repair fund and for services.
How Tenaryia can help
We help you find a flat, calculate the total budget, arrange the mortgage and insurance and prepare a safe transfer. All with one contact. Consultations in Czech, Slovak, Ukrainian and Russian, free of charge.
Information is indicative and valid as of the publication date; specific conditions vary by bank or insurer.