Posts Tagged ‘purchase of housing’
Tax on the purchase of housing
When buying a house, plus the price of it, we take into account the expenses and taxes arising from the purchase, in order to have enough money to meet these charges and taken into account to determine how much Money has to apply for a mortgage.
As a general rule, expenses and taxes for the purchase of a home mean 10% of the cost of housing. If we also note that financial institutions generally accorded more than 80% of the floor, when we choose our ideal home, we must have enough money to afford the 30% of the floor at the time of writing.
That 10% of the costs could be reduced if you meet certain conditions and benefit from certain tax advantages. Let’s check each of these taxes that we pay at the time of purchase.
VAT (Value Added Tax): You pay only when buying a new home (first transmission). The rate applied to free housing is 7% and the VPO (social housing) is 4%.
ITP (Property Transfer Tax): This tax is levied on resale properties and its type is between 6% and 7% depending on the Autonomous Communities.
AJD (Stamp Duty Tax (AJD): Gravel notarial documents, in this case is the deed of sale and the rate applied is 0.5%.