Hidden costs when buying a house: Expenses many forget.

The illusion of own capitals.

When thinking about buying a house, most families focus exclusively on saving the minimum, such as the 10% (or 15%, in some cases) of the property value required for the down payment. However, the acquisition process and formalization of housing credit involve a set of 'hidden costs' that arise in the first few weeks.

If you do not have liquidity to support these expenses, the process may stall halfway, putting at risk the money already advanced in the promise contract.

Bank commissions and property evaluation

Before the bank gives the final 'yes', you will have to pay the process expenses. The dossier commission and the property evaluation are charged right from the start, whether the credit is approved or not. We are talking about amounts that can range between 500 and 1,000 euros, depending on the financial institution.

In addition, at the time of writing, you will have to bear the costs of the notary, mutual registration and taxes, which cannot be diluted in the installment.

How to prepare the wallet for the process

To avoid last-minute financial panic, consider these rules:

• Count on 20% savings: Instead of saving just 10% or 15% of the down payment, plan to have about 20% of the value of the house.

• Request the Standardized Information Sheet (SIS): Carefully read all the fees charged by the bank.

• Leave room for changes: Remember that you will need money for the moving and small repairs.

Planning is the antidote to surprises

Buying a house requires a strong and detailed financial planning. Knowing all the items and not focusing only on the monthly payment is the only way to ensure a smooth process until the key delivery.

Want to make sure you choose the bank with the lowest initial fees?

Talk to the experts at Poupança no Minuto. We help you compare proposals and find housing credit with the best conditions and lowest processing costs.