Home Buyer

How long after the purchase can I sell my first home?

One of the questions my clients often ask me is how long after the purchase they can sell their first home. The question is legitimate, because we know that after buying a house a thousand and one life and work events can happen. From a move to the desire to move to another area of ​​the city, from the birth of a child who requires more space, to natural evolutions in living tastes.

Whatever the reason, the point is that the first home can also be sold immediately, but the deadline for not losing the benefits is 5 years https://propertyleads.com/how-to-find-houses-to-flip/

Let’s see in detail how it works.

Selling your first home without losing your benefits

Let’s take a step back: the concessions for the purchase of a first home are illustrated on this page of the Mef and we are talking about the 2% registration tax and the fixed mortgage and cadastral tax of 50 euros.

In case of purchase from a company, VAT is reduced to 4% instead of 10% and a fixed amount for registration tax, mortgage tax and cadastral tax of 200 euros each.

Luxury homes are excluded from the benefits and the conditions for accessing the benefits are clear:

The purchased property must be located in the municipality of residence , which can also be established within 18 months of purchase if the buyer is a resident of another municipality;

Whoever buys his first home cannot be the exclusive owner (or in communion with his wife or husband) of the property, usufruct and habitation rights of another house which is located in the municipality where the first home is located;

Whoever buys must not be the owner – not even by shares or even under a legal community regime – of property rights, use, habitation, usufructuary and bare ownership of a house purchased by him/her or by the spouse in the national territory. In other words, those who buy their first home must not have another home or enjoy other property rights in order to access the first home benefits.

Terms for benefiting from the concessions

The legislation sets specific terms to be able to benefit from the concessions for the first home.