Second home: your handy checklist!

By the sea, in the mountains or in the countryside, buying a second home is sometimes a dream come true. A real estate project is always a major investment that requires a reliable financial partner and careful preparation. Use this checklist to make sure that you have properly covered the main financial aspects involved.

Experts at your side

• Local notary
• Bank adviser
• Real estate expert/architect (assessment of the condition of the property)

Banking aspects

• Type of interest rate and type of loan, i.e. fixed or variable rate mortgage
• Mortgage insurance
• Fully comprehensive home insurance

Other financial aspects

• Mortgage deposit
• Collateral to be provided
• Monthly repayments

Other costs arising from a property purchase

• Application and mortgage fees
• Deed of sale (notary’s) fees
• Registration duties or VAT
• Any renovation work
• The cost of moving in and decorating (painting, flooring, etc.)
• Cost of household equipment (appliances, television, etc.)

Recurrent expenses

• Home insurance
• Taxes, property tax, municipal taxes (collection of household refuse, etc.)
• Tax on rental income (variable depending on the country where the property is located) if you rent out your second home
• Condominium fees
• Maintenance costs (garden, swimming pool, chimney, etc.)
• Various bills (water, electricity, gas, telephone, etc.)