Closing costs are the expenses you pay when taking out a mortgage. These include mortgage advice and brokerage fees, notary fees for drafting the mortgage deed, possible appraisal costs for valuing the property, and any fees for applying for the National Mortgage Guarantee (NHG).
Closing costs are tax-deductible, which means you can deduct them from your taxable income. This allows you to reclaim part of these costs through your tax return.
It’s important to factor closing costs into your budget planning when buying a home.