Buying a house in the Netherlands: Cost of ownership

If you're considering buying a house in the Netherlands or just toying with the idea, there's enough information about home-buying available, including on my channel. However, not many discuss the total cost of homeownership.
Knowing the costs upfront is crucial to understand the implications of this significant decision. In this video, I delve into the details of tax refunds related to owning and purchasing a house and the costs associated with homeownership.
Let's dive into this together.
------------------------------------------------------------------------------------
🏡 LINK TO PRE-ORDER "THE GUIDE TO BUYING A HOUSE": slowandsteadyblog.com/buying-...
------------------------------------------------------------------------------------
Requirements for mortgage tax relief: www.belastingdienst.nl/wps/wc...
Video where I talk about the issue with our house: • Buying a house in the ...
------------------------------------------------------------------------------------
Videos about housing in the Netherlands: • housing in the netherl...
All videos about the Netherlands: • everything about the n...
------------------------------------------------------------------------------------
My links:
🚑 Medical insurance for digital nomads: slowandsteadyblog.com/go/sw-i...
💸 Bank Wise for expats and travellers: slowandsteadyblog.com/go/wise (Send money to over 160 countries)
🏦 My bank (Revolut): slowandsteadyblog.com/go/revolut
💵 Investment platform Interactive Brokers: slowandsteadyblog.com/go/ibkr (free stocks up to $1000)
🇳🇱 Learning languages at Italkie: slowandsteadyblog.com/go/italki
------------------------------------------------------------------------------------
💌 Subscribe to my newsletter: dpashutskii.substack.com
☕️ Support the channel: slowandsteadyblog.com/go/coffee
------------------------------------------------------------------------------------
00:00 Intro
00:30 Refunds for your mortgage and house purchase
04:44 Costs of the house
09:43 Ending
------------------------------------------------------------------------------------
Some links in the description are referrals. I earn a small commission if you purchase through them at no extra cost. Your support is appreciated!
🧑‍💼 Collaboration or advertising: [e-mail]
#buyingahome #housecost #netherlands

[@dpashutskii]

What else would you like to know about owning or buying a house?

[@RealConstructor]

It is good to know that if you own an apartment, you pay a service fee like you told in the video, but a big part of the service fee goes to the reserve fund for future maintenance. And your share of this fund is taxable for income tax. The exchequer or tax office considers this a savings account, so you need to fill this amount (not the whole amount, only your share of the reserve fund) on your tax return. The administrator of the VvE (home owners association) will mail you (or you can download it from their website) the amount every year for your tax return. Your share of the amount is comparable to your apartment share (appartementsrecht in Dutch) as stated in the notary deed. For example: If all apartments have the same floorspace, and you bought an apartment, you have 1 apartment share of the total, in case of 25 apartments, it is a 1/25th share. So your taxable share of the reserve fund is 0.08%. If apartments have different floors spaces, you have an apartment share of your apartment’s floor space of the total floor space of the building. So if your apartment has a floor space of 120m2 and the total of all apartment floor spaces is 6,000m2, you got a share of 120/6,000th. So your taxable share of the reserve fund is 0.02%. Your neighbors can have an apartment of 150m2, which means they have an apartment share of 0.025%. These apartment shares are mentioned in the notary deed of the purchase of the apartment. Beware that the administrator has to deposit the VvE annual financial papers at the Chamber of Commerce and can be looked into by the tax office.

[@GauravSehrawat8888]

Excellent point.

[@dpashutskii]

Wow! I didn't know that. Thank you so much for the comment. Extremely useful.
Where does VvE store the funds? On savings accounts or just in cash?

[@RealConstructor]

@@dpashutskii Mostly on a savings account, but sometimes they keep it on a bankaccount. You can see this on the annual financial rapport, all bankaccounts of the VvE are registered in this rapport.

[@davidcollier6520]

Many thanks, that was very useful!

[@dpashutskii]

Thank you, David!