Plan your home purchase in any EU country. Calculate how much you need to save, how long it will take, and how currency movements might affect your timeline.
In Wealthos, these values come automatically from your added accounts, tracked income, expenses, and goals.
Wealth in 10 years
60k
Total saved
31k
Earned interest
+14k
Down payment requirements vary significantly across Europe: 10% in the Netherlands, 15-20% in Germany, 20-30% in France, and as little as 0% in Denmark for residents. As an expat, you may face stricter requirements — some banks require larger deposits from non-nationals or non-residents. Research your target country's norms early so you set the right savings goal from day one.
If you're earning in GBP but planning to buy in EUR, currency risk is a real factor in your timeline. A 10% weakening of GBP against EUR could add months to your savings plan. Consider saving directly in the target currency to eliminate this risk, or use a forward contract to lock in an exchange rate once you're within 6-12 months of your target. Track your progress in the purchase currency, not your earning currency.
Beyond the down payment, budget for: notary fees (1-3% in most EU countries), property transfer tax (3-10% depending on country), legal fees, surveyor costs, and mortgage arrangement fees. In total, closing costs can add 5-15% on top of the purchase price. Factor these into your savings target — you need the down payment plus closing costs, not just the down payment alone.
Enter the home price and your desired down payment percentage to set your savings target. The calculator projects how long it will take to reach that target based on your current savings, monthly savings rate, and the interest on your savings. Adjust the home price and down payment percentage to see different scenarios.
For a $350,000 home with 20% down, you need $70,000. With $15,000 saved, contributing $2,000/month at 4% interest, you'd reach $70,000 in about 26 months. Dropping to 10% down ($35,000) cuts the timeline to roughly 10 months — but adds PMI to your future mortgage payment.
Remember to budget 2-5% of the home price for closing costs on top of your down payment. On a $350,000 home, that's an additional $7,000-$17,500.
Compare 10% vs. 20% down scenarios. The PMI cost on 10% down is typically $100-$200/month — sometimes worth it if home prices are rising faster than you can save.
If home prices in your area are rising 5%+ per year, waiting 2 more years to save a bigger down payment may actually cost you more than the PMI you'd avoid.
Look into first-time homebuyer programs in your state — many offer down payment assistance grants or reduced-rate mortgages that can significantly lower your savings target.