About to buy your first home and wondering how much you will pay in taxes? You don’t have to bear the same costs as someone buying a second home: the first-home tax benefits are there for you.
They are a valuable tool for first-time buyers, because they significantly reduce the taxes owed to the State on the purchase deed. But they must be claimed with awareness, checking before you sign that you meet all the requirements.
In the video, Notary Maria Teresa Pelle explains in simple terms what they involve and how much you save.
What are the first-home tax benefits
Anyone buying a home for the first time can apply for the so-called first-home tax benefits. The taxes payable to the State on the purchase are very different, and very competitive, compared with those that apply to a second home.
Buyers who meet the specific requirements can benefit from a reduced rate, depending on who is selling the property.
Taxes compared
- Purchase from a private seller: with the first-home tax benefits, registration tax is 2%, instead of the 9% that applies to a second home
- Purchase from a builder: where the first-home requirements are met, VAT is 4%, instead of the 10% that applies to a second home
Planning a purchase and want to check the requirements? Our firm is at your disposal: request a quote.
The information on this page is of a general nature and does not replace personalised notarial advice.
