Quick Guide

Hidden Costs of Buying Your Home

When buying a brand new property in Peru, there are additional costs beyond the sale price. This guide explains what they are and how to plan for them without surprises.

Buying a house is a big step. Beyond the sale price, it's important to understand the additional costs that arise during the process.

1. Down Payment or Reservation

Normally between 10% and 30% of the property value.

  • To reserve the property: S/. 500 - S/. 10,000
  • Balance of down payment: Generally payable in 30-60 days

2. Credit Study Fees

Evaluation of your borrowing capacity by the financial institution.

  • Title search: S/. 200 - S/. 500
  • Property appraisal: S/. 300 - S/. 700
  • Administrative costs: S/. 250 - S/. 500

3. Notary Fees

Legal formalization of the purchase before a public notary.

  • Public deed: S/. 500 - S/. 1,500
  • Registry lock: S/. 40 - S/. 60
  • Document legalization: S/. 100 - S/. 300

4. Registration Fees

Registration of the property in the Public Registry (SUNARP).

  • Registration fee: 0.75% of one UIT + 3/1000 of property value
  • Mortgage registration: S/. 35 + 0.75/1000 of credit

5. Alcabala Tax

Municipal tax for property transfer.

  • Equivalent to 3% of the transfer value
  • Deductible: 10 UIT (S/ 51,500 for 2024)

6. Bank Commissions

Costs associated with the mortgage credit.

  • Life insurance: monthly balance percentage
  • Property insurance: annual value percentage

Extra Costs Summary

Down payment 10% - 30%
Legal fees S/. 1,000 - S/. 3,000
ESTIMATED TOTAL (extra) 2% to 7% of property value

Buyer Benefits in Peru

Benefit

Housing Subsidies (Bonos)

  • BBP: Direct subsidy for your down payment.
  • Bono Verde: Extra discount for eco-friendly homes.
Benefit

AFP Withdrawal

Withdraw up to 25% of your AFP funds for the down payment or mortgage repayment for your first home.

Benefit

Tax Benefits

Income Tax refund for mortgage interest and deductions for independent workers.

Ready to calculate your budget?

Use our advanced calculator to get a realistic estimate of all costs and find your dream home.

Go to Calculator