Details Of The Cost Of Buying A House – The sale and purchase transaction of a house involves many price components in it. The cost of buying and selling a house is not only the amount of down payment or down payment and the nominal installments per month that must be paid. You still have to prepare other “hidden” costs, especially for administrative and legal matters according to applicable regulations.

Therefore, don’t be in a hurry when buying a house, especially if you find tempting advertisements such as massive discounts. Prepare fund posts carefully so as not to mess up your financial condition now and in the future.

List Of Details Of The Cost Of Buying And Selling A House

Quoting from Kompas, here are some components of the cost of buying and selling a house:

Booking Fee Or Token Money

This is the first cost you have to pay, especially when buying a house through a developer. The booking fee becomes the money of the agreement and commitment that you will buy the house and fulfill other obligations. The developer is also not allowed to give the unit that you have chosen and pay the token fee to another party.

The amount of the booking fee varies according to the provisions of each developer. The booking fee is different from the down payment alias DP. Even so, some developers will cut the amount of down payment you have to pay according to the amount of the booking fee that has been paid.

Down Payment (DP)

You need to prepare these costs, especially when buying a house on credit. DP is a number of funds from the total price of goods (houses) as a whole which was paid at the beginning. The seller also generally gives certain limits on when the DP must be paid off.

Usually, the down payment is about 10 to 30 percent of the house price. However, it’s generally okay if you pay more than what is required. This will also reduce the amount of installments that you have to pay later.

Notarial Deed

The process of buying and selling a house that you do requires approval so as not to cause disputes in the future. In this case, you need the role of a notary as an authorized official according to the laws and regulations. The amount of the notary fee varies depending on the price of the notary service and the complexity of the document.

Check Certificate

Do a certificate check at the local land office. This is to minimize problems such as duplicate certificates, problematic properties, and other detrimental things. The cost is not too big, but more or less ranges from IDR 50,000 to IDR 300,000.

Transfer Of Title

One more component of the cost of buying and selling a house that should not be missed is the transfer fee. This also includes if you buy a new home from a developer. The amount of the property transfer fee is generally around 2% of the transaction value.

Home Sales Tax

Like other transactions in general, you also will not escape the tax obligations. Both the seller and the buyer have the following obligations for taxes.

Income Tax

This type of tax is the responsibility of the seller. According to PP No. 34 of 2016, the amount of PPh on the sale of a house is 2.5% of the total price agreed upon at the time of the transaction. PPh must be paid by the seller before the Sale and Purchase Deed is issued.

Property Tax

The next tax is the land and building tax aka PBB. PBB is actually an obligation of every homeowner which is paid once a year. This tax should be paid by the seller before selling it to another party. The amount of PBB is 0.5% of NJKP multiplied by NJOP.

Value-Added Tax

This type of tax needs to be met by buyers who buy homes. If you buy a house from a developer or other party belonging to the PKP group, then the purchase price is added with VAT of 11%. However, if you buy from an individual such as a used house, then you have to deposit VAT yourself into the state treasury.

With this much cost component, of course it would be wiser if you prepared from the start. That way, you won’t be stuck in the end and your finances can stay safe.

Tax Costs To Be Incurred By The Seller

In general, home sellers are required to issue three types of taxes. The first is income tax or income tax obtained because the seller receives some money from the buyer. Based on PP No. 34 of 2016, the amount of PPh for the transfer of land and building rights is 2.5% of the price of the object sold.

The second tax that must be paid by the seller is PBB (Land and Building Tax) in the last year. The value is around 0.5% of the NJKP (Taxable Selling Value). The NJKP of houses that are priced below Rp1 billion is 20%, while those above Rp1 billion are 40%.

The third fee that needs to be paid by the seller is the notary fee/PPAT. These costs are not absolutely the responsibility of the seller. The seller can negotiate with the buyer to bear these costs together.

Tax Costs That Must Be Paid By The Buyer

Compared to the seller, the buyer needs to pay a little more. These costs include certificate checks, VAT, to the cost of changing the name of the certificate of the house purchased. Check out the details as follows!

Certificate Checking Fee

Before making transactions and paying the house sale and purchase tax, as a buyer you need to check the authenticity of the certificate of the house to be purchased. The cost is around Rp. 100 thousand (this fee is not fixed).

VAT (Value Added Tax)

If you buy from an institution or developer that is registered as a PKP (Taxable Entrepreneur), then there is VAT that must be paid, which is 10% of the land price. If the house purchased is a used house, the VAT payment is made directly by depositing it into the state treasury with the same value (10% of the house price).

BPHTB (Duty For Acquisition Of Rights On Land And Buildings)

If the seller is obliged to pay PPh, then the tax that must be paid by the buyer is BPHTB. Both have more or less the same function. The tax amount is 5% of the selling price of the house after deducting NPOPTKP (Non-Taxable Tax Object Acquisition Value). The amount of the NPOPTKP usually varies, depending on the policy of the local government where the house is located.

Cost Of Making AJB

The cost of making AJB is 1% of the total value of the sale and purchase transactions carried out. Generally, the buyer bears these costs, unless there is a different agreement between you and the seller.

In some cases, the on-duty PPAT may charge more than 1%. However, you can still negotiate it, especially if the house price is quite expensive.

Rename Fee

After buying a house from a seller, the buyer usually has to immediately take care of the transfer process (unless you bought the house directly from the developer). The transfer fee is usually around 2% of the total transaction value or based on local government regulations. The transfer of name requires a number of files, including proof of payment of the BPHTB SSB that has been paid by the buyer.