- What are the additional costs with new construction?
The additional costs that come on top of the purchase price and surcharge are, for example, notary fees. Construction interest is also an additional cost you need to consider. In addition, you may need a bridging loan to pre-finance the surplus value of your old home. You will pay interest for this.
- What do you pay during construction in new construction?
Mortgage
During the construction of your new home, you often still live in your old home for sale or rent. These fixed expenses continue until you turn in the key to this old home. In addition, you will also be paying the mortgage (interest and repayments) for the new home during construction. Also consider costs for bridging the surplus value of your old home. You only pay interest for this and you repay this loan immediately after selling the old house.
Construction interest
In addition to the mortgage you pay construction interest during construction. The construction interest can often be co-financed. Want to know what is possible for you? Pan then make an appointment with one of our financial advisors.
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- What about double charges with new construction?
Because it often takes a long time for your new home to be completed, you will continue to live in your old home for some time. However, you do pay the mortgage for your new home from the beginning of construction. As a result, you will temporarily have two homes and therefore double your expenses. We are happy to tell you how these charges will develop. Feel free to schedule an appointment with us so we can tell you how the double burden will be for you.
- Do you need your own money for new construction?
For a new home, you can borrow up to the home value. Additional work, or extra options, can often be financed in your mortgage. Other costs, such as advice and notary fees, are paid out of your own money. You often need less of your own money with new construction. Because you do not pay transfer tax for a new home, the buyer's costs are often lower than for an existing home.
- From when do you pay mortgage on new construction?
Once you have gone to the notary to put the new home in your name, you will start paying the mortgage interest and repayments. The money for the construction of the new home is transferred to the construction deposit by us. On the amount in the deposit, we will repay your interest. Because the balance on your construction deposit is high in the beginning, we will pay you a lot of interest in the beginning. This becomes lower and lower as the installments for the construction of your home are paid and the balance becomes lower and lower.
