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Which costs are deductible if I buy a house in the Netherlands?
If you own a property in the Netherlands and you use it as your main residence then you may be able to claim some tax deductions. These deductions can be claimed in your tax return. Deductible are costs related to the mortgage.
You can also claim a provisional monthly refund. This has to be done every year again.
The costs can be divided in one time only costs and annual costs.
One time only costs
- Notary costs and ‘kadastrale rechten’ for the mortgage deed
- Valuation costs in order to get a mortgage
- Bank commission called ‘afsluitprovisie’ in Dutch. This is normally 1% of the mortgage but can vary between 0% and 1.5%
- Costs related to the National Mortgage Guarantee
- Fine which has to be paid because of early repayment of the old mortgage (when you decided to change mortgage provider)
- Interest paid on a mortgage for a maximum of 30 year
- So called ‘erfpacht’ payments
- Interest paid on other loans used for the main residence
Not deductible (costs related to the property itself)
- Costs of the purchase deed
- Notary costs for the delivery of the property
- The transfer tax
- Repayments of the mortgage
- Costs of maintenance and renovation
- Interest on (part of) the mortgage if it’s not used for the property but just to ‘consume’