When planning to buy a house, the most widespread idea is that it is enough to put together 10% of the property value (since the bank finances a maximum of 90%) to close the deal.

However, in most cases, those who proceed to sign a Promissory Purchase and Sale Agreement (PPSA) with only this amount in the account risk losing the deposit and the opportunity of their life.

The equity capital needed to execute the deed is actually substantially higher than those initial 10%.

Urgent additional charges cannot be delayed

The buyer must necessarily add the tax and procedural charges to the down payment. The IMT and Stamp Tax are paid days before the deed.

In addition, the expenses of the banking process (opening commissions, evaluation) and notarial records usually range between 1,500 to 3,000 additional euros.

For example, in a house of 200,000€, the down payment will be 20,000€, but extra expenses could exceed 7,000€. In other words, the buyer needs immediate liquidity close to 27,000€.

The exception to the rule: the Public Guarantee of the State

The great exception to this scenario applies to young people up to 35 years old who buy their first Permanent Home. Through Public Guarantee, the State legally acts as a guarantor of up to 15% of the transaction, allowing banks to provide financing for 100% of the home value, eliminating the barrier of the initial entry.

In addition to not needing the 10%, young people benefit from full exemption from IMT and Stamp Duty (for properties up to a certain maximum limit). However, 100% credit does not mean buying a house "at zero cost". It will still be necessary to have savings available to pay the initial bank fees (dossier and appraisal), formalize the deed at the notary, and the first premiums of life and multi-risk insurance.

The safe formula for savings

If you are not eligible for state support, follow this structure to avoid stress: [link]

Aim for 15%: Instead of 10%, plan to save 15% of the property value to cover down payment and taxes.
Money for insurance: Save a margin to pay the first premium for Life and Multirisk insurances.
Reserve a fund for works: The house may need minor repairs or basic furniture in the first few months.

Clear vision before the bank says yes.

Real purchase planning requires a comprehensive view of all costs. The deposit is just the door; taxes and expenses are the keys. The better prepared you are, the smoother the process will be with the financial institution.