To help you anticipate the costs that may come with buying a house, here is a helpful checklist of all the expenses you might expect.
Initial expenses
- Deposit
- Down payment
- Commission (if any)
- Moving costs
- Others: Document checking fee from the Land Department or the Ministry of Commerce, registration fee, photocopying etc
Payments to the bank
- Property appraisal fee
- Management fee
- Stamp duty
Land Registry Fees
- Property ownership transfer fee (2% of appraisal value)
- Mortgage registration fee (1% of the mortgage value)
Insurance Premiums
- Fire insurance premium
- Credit insurance premium (which ensures the insurance company will take charge of the loan in the event of the borrower’s death or disability)
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