The real costs of buying a home: complete guide for buyers in Romania

The real costs of buying a home: complete guide for buyers in Romania
The real costs of buying a home: complete guide for buyers in Romania

Why the price in the listing is never the final price

When you are looking for a home, all your attention naturally goes to the price shown in the listing. However, between the amount on the property portal and the amount you will actually pay at the end of the transaction there is usually a significant difference. This comes from notary fees, land registry fees, VAT (for new homes), any agency commission, as well as the recurring expenses you take on as an owner.

In addition, many of these costs are regulated by official orders and decisions, not by “arrangements” with the notary or the agent. Therefore, an informed buyer builds a total budget from the outset, and does not just look at the sale price.

For an apartment of around 100,000 euro, the total additional costs (fees, commissions, VAT where applicable) can easily reach several thousand euro if you include them all in the budget.

Notary and registration fees: the most important additional cost

The notarial fee for the sale and purchase agreement is calculated as a percentage, on a sliding scale, in brackets, from the declared value of the transaction, based on the Norm on minimum fees approved by Order of the Minister of Justice no. 177/C/2024, applicable from 2024 for notarial acts and procedures, including real estate transactions. (uniuneanotarilor.ro) Although the exact percentages differ by value bracket, in practice, for a typical home, the fee usually comes to below 1% of the transaction value, but can mean thousands of lei for more expensive properties.

The reference value for the calculation is not always just the price in the contract, but also the minimum value in the “notaries’ grid”, that is, the indicative values set annually by Uniunea Națională a Notarilor Publici and published, including in the economic press. For București, the press has shown how these grids are used both for fees and for the taxes owed to the state. (economica.net) If the price in the contract is below the value in the grid, the notary is obliged to take into account the higher value.

The rules adopted in January 2024 also provide that the fee includes a whole series of operations: verification of documents, drafting and notarization of the contract, obtaining the land register excerpt for authentication, as well as sending the document to the land registry office. (legislatie.just.ro)

In addition to the fee, there are also the cadastral and registration charges, paid to ANCPI, usually through the notary. The rates are set by ANCPI order and, for the registration of the ownership right of individuals, are calculated as a percentage of the value of the property (for example, for certain types of entries, the tariff order provides percentage rates, such as 0.15% of the value in the deed). (ancpi.ro) On top of this there is the fixed fee for the land registry excerpt for information, a service separately charged by ANCPI, usually a few dozen lei per excerpt, according to the official payment platform and public information on land registry services. (epay.ancpi.ro)

In practice, for a home priced at around 100,000 euro, the combination of notary fee and ANCPI charges often ends up being the largest additional cost after the purchase price, easily exceeding the equivalent of 1,000 euro, depending on the fee structure chosen by the notary and the exact applicable rates.

VAT on homes: 5%, 9% or 19% and why it matters in your budget

If you buy a new home from the developer, VAT can substantially change the bill. From 2024, the VAT regime for homes is differentiated, with rates of 5%, 9% and 19%, depending on the type of property, its value and the buyer’s situation. Ministerul Finanțelor and ANAF have published clarifications and examples on the application of the reduced rates, including in information materials for taxpayers, which show the application of the 5% and 9% rates and, in certain cases, the standard 19%. (static.anaf.ro)

Essentially, the reduced VAT rate applies only to homes that simultaneously meet certain conditions of floor area, maximum value and use (as a home), and the application of this reduced rate is limited to a certain number of purchases for the same individual. Recent real estate analyses have summarized the situation as follows: in 2024, VAT rates for real estate are 5%, 9% and 19%, and the reduced rate is applied once only for the purchase of a single home that meets the criteria, the rest of the transactions following the standard regime or other rates, as the case may be. (wise.com)

If the new home you are buying has a price close to the ceiling for which reduced VAT applies, any adjustment above this threshold can mean thousands of euro extra. That is why it is essential to discuss explicitly with the developer and the notary about:

  • which VAT rate applies specifically to your home;
  • what the tax base is and whether or not parking spaces or annexes are included;
  • whether you have previously benefited from the reduced rate for another home.

Real estate agency commission: when, how much and for whom

In addition to legal costs, many buyers face one more line in the budget, the real estate agency commission. Its level is not regulated by law but is set by the contract concluded with the agency. In practice, the market includes both models where the commission is paid exclusively by the seller and situations where the buyer pays, or both parties contribute.

From public discussions and cases reported by buyers on forums and social networks, it can be seen that some agencies charge commissions of 2% 3% of the transaction value from the buyer, while others work with commission only from the seller. (reddit.com) What matters is that these terms must be negotiated and clearly stipulated before multiple viewings or the signing of a representation contract, in order to avoid surprises at the end.

Practical recommendation: if the agency asks you to sign a service contract before viewing, read carefully the clauses on the commission, when it becomes due (on signing the preliminary contract or on completion of the sale) and what specific services you get in return.

Recurring expenses after purchase: costs ignored at the beginning

The real budget of a home does not stop on the day the contract is signed. From that moment on, as an owner, you will bear recurring expenses which, added up over a few years, can easily exceed the initial transaction costs. Among the most important are:

  • The annual tax on the building and land, set by the town hall depending on the use of the property (residential or non-residential), the taxable value and the decisions of the local council.
  • Maintenance costs and the repair fund for the owners’ association, essential especially in older blocks of flats, where the costs of major repairs can be significant.
  • Mandatory and optional home insurance, a cost which, although not strictly imposed in the same way for all types of homes, becomes practically mandatory if you have a mortgage.
  • Any costs for updating the cadastral documentation and registration over time, if you make major changes (extensions, re-partitioning) that require updating the data in the land register, operations which again attract ANCPI fees and fees of authorized specialists. The tariffs for land registry services are published by ANCPI and updated by periodic orders, with different values depending on the type of operation. (bt.ancpi.ro)

These recurring expenses do not appear in the sale and purchase contract, but they directly affect your ability to support the cost of the home in the long term and must be modelled from the search phase.

How to calculate your full budget for buying a home

Before you make an offer or sign a preliminary contract, it is worth drawing up a complete cost table, using official data and up-to-date calculation tools. There are specialized platforms that centralize the relevant legislation, such as the 2024 Order on notary fees, notarial grids and ANCPI orders on taxes and tariffs, and provide an indicative estimate of notary fees, tax owed to the state and ANCPI charges for any real estate transaction. (casax.ro)

In practical terms, when drawing up your budget, explicitly include:

  • the negotiated price of the home (with or without VAT, as applicable);
  • the estimated notary fee, checked against the official rules and the notarial grid applicable to the area and type of property;
  • the registration fees and other ANCPI charges related to the registration of your ownership right;
  • the agency commission, if any and if payable by you as the buyer;
  • any costs of valuation, additional cadastral documentation or bank commissions in the case of a mortgage;
  • an annual estimate of local taxes and recurring expenses related to the maintenance of the home.

Once you see all these amounts in one place, the price in the listing takes on a different meaning and you can decide in full knowledge of the facts whether that home does or does not fit into your real budget.

Sources

Întrebări frecvente

Cât reprezintă, în medie, taxele notariale la cumpărarea unei locuințe?

The notary fee for a sale and purchase agreement is calculated on a sliding scale, depending on the transaction value, according to Order 177/C/2024. In practice, for a typical home, the cost usually comes to below 1% of the price, but can mean thousands of lei, to which ANCPI fees for registration and the land registry excerpt are added.

Cum aflu ce cotă de TVA se aplică locuinței pe care o cumpăr?

You need to check whether the home is new, what its value is, what floor area it has and whether it meets the conditions in the Fiscal Code for the reduced rate. Ministerul Finanțelor, through ANAF guides, explains the application of the 5%, 9% and 19% rates. Discuss explicitly with the developer and the notary and ask to see in writing the rate and the tax base.

Este obligatoriu să plătesc comision agenției imobiliare ca și cumpărător?

There is no single rule on who must pay the commission. Everything depends on the contract concluded with the agency. Some agencies charge a commission from the buyer (for example 2% 3% of the price), others only from the seller. Read the service contract carefully and negotiate clearly before continuing the collaboration.

Cum pot estima rapid toate costurile la achiziția unei locuințe?

You can use an up-to-date notary fee calculator that takes into account Order 177/C/2024, the notarial grids and ANCPI tariffs in order to obtain an indicative estimate of the fee, the tax and the registration charges. Then you add the agency commission, any bank costs and the recurring expenses (local tax, maintenance, insurance).

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