Buying a 200,000 euro home in 2026 requires having quite a bit more than 40,000 euros in the bank. That amount would cover the down payment if the entity grants a mortgage equivalent to 80% of the appraised value, but the buyer will still have to face the purchase taxes and other costs associated with the transaction. The bill, moreover, changes depending on whether a new or second-hand home is purchased.
The entities link the amount they are willing to lend to the appraised value of the property and usually finance up to a maximum of 80% of that value. For a home valued and purchased at 200,000 euros, this would mean a mortgage of 160,000 euros and would require the buyer to contribute the remaining 40,000 euros.
However, that 40,000 euros does not include taxes. A new home generally taxes at a 10% VAT, while a used home is subject to the Property Transfer Tax (ITP), the payment of which corresponds to the Treasury of the autonomous community where the property is located.
The down payment: 40,000 euros if the bank finances 80%
The first calculation starts from how much money the bank lends. If the entity grants 80% financing, to buy a home for 200,000 euros, 160,000 euros of mortgage would be necessary.
The other 40,000 euros would have to be provided by the buyer. This is 20% of the price that is outside of the financing and constitutes, in a typical scenario, the main barrier to entry for accessing a home.
However, the 80% is not a right of the client nor an amount that all banks are obliged to grant. The financing will depend on the appraisal, income, job stability, indebtedness, and the solvency analysis carried out by each entity.
A new home of 200,000 euros adds 20,000 euros of VAT
The difference between new and used homes mainly appears in the taxes. When it comes to a first delivery acquired from the developer, the new home is generally subject to a VAT of 10%.
In a house of 200,000 euros, this means paying 20,000 euros just in VAT. Therefore, the down payment of 40,000 euros and the VAT would already raise the cash needs to 60,000 euros.
To that amount, the Tax on Documented Legal Acts (AJD) corresponding to the purchase must be added, the rate of which depends on the autonomous community, in addition to other possible costs associated with the operation. Therefore, there is no single valid amount of savings for all of Spain.
How the calculation changes if the home is second-hand
The used home has a different taxation. Instead of paying the VAT applicable to a new home, the buyer must face the Tax on Onerous Property Transfers (ITP).
The percentage is not the same throughout Spain because it is a tax assigned to the autonomous communities. There may also be reduced rates and tax benefits depending on circumstances such as the buyer's age, the acquisition of a primary residence, disability, or large family, depending on the regional regulations.
For example, an ITP of 6% would mean 12,000 euros for a home of 200,000 euros. Added to the 40,000 euros down payment, the buyer would need at least 52,000 euros before incorporating the rest of the costs. If the applicable rate were higher, the necessary amount would increase.
How much savings is required for a home of 200,000 euros
| Concept | New home | Used home |
|---|---|---|
| Price of the home | 200,000 € | 200,000 € |
| Estimated mortgage (80%) | 160,000 € | 160,000 € |
| Down payment (20%) | 40,000 € | 40,000 € |
| Main tax | VAT: 20,000 € (10%) | ITP: depends on the autonomous community |
| Minimum savings before other expenses | 60,000 € + AJD and other expenses | 40,000 € + ITP and other expenses |
What mortgage expenses the buyer no longer has to pay
It is advisable to differentiate the expenses of buying the home from the expenses of establishing the mortgage. Since the entry into force of Law 5/2019, the distribution of the latter changed significantly.
The buyer must assume the appraisal of the property and, if requested, the copy of the loan deed. The bank, on the other hand, pays the management fees, the notarial fees corresponding to the loan deed, the registration of the guarantee in the Registry, and the taxes associated with the establishment of the mortgage.
This does not mean that the bank pays the expenses derived from buying the house. This distribution refers to the formalization of the mortgage loan and not to the purchase and sale.
Not all buyers need exactly the same savings
The well-known recommendation to have approximately 30% of the price of the home can serve as initial guidance, but it does not provide an exact figure. For a new home of 200,000 euros, just the down payment and VAT already reach that 30%: 60,000 euros.
In a used home, the result will especially depend on the ITP of the autonomous community and possible bonuses. Financing will also influence: a bank that grants more than 80% reduces the money needed for the down payment, while lower financing requires more savings.
In addition, the appraisal value is of special importance. The amount of the loan is directly linked to that valuation, so the advertised price of a home is not enough by itself to know how much the bank will ultimately grant.
Meta title: How much to save to buy a house of 200,000 euros in 2026
Meta description: How much money do you need to buy a home of 200,000 euros in 2026? We calculate down payment, VAT or ITP, mortgage, and expenses for new and used homes.