Published by carratelli4 years ago

Buying a first home: what are the incentives available for purchasing in 2022? Ordinary tax incentives and the First Home Bonus for under 36s: the requirements.

Buying a first home and concessions: what are the prerequisites?


What is meant by first home purchase And what are the tax breaks available in 2022? If you were to buy a castle as your first home, this property type isn't actually included in the government's tax incentives. Let's see why and, more importantly, how many and what these breaks are.


To take advantage of the legal benefits for purchasing a property to use as a "First Home," it's important to understand the deadlines. 


It can be considered as a First Home:
   * a property purchased in the municipality of residence or workplace of the buyer or to which the buyer wishes to move within and no later than 18 months from the purchase
   * a house or apartment registered as A/2 (residential dwellings), A/3 (affordable dwellings), A/4 (residential dwellings), A/5 (ultra-popular dwellings), A/6 (rural dwellings), A/7 (cottages), and A/11 (typical local dwellings and accommodations). Therefore, the cadastral categories A/1, A/8, and A/9, respectively, stately homes, villas, and castles (the typology mentioned at the beginning), are excluded. 


Finally, to access the tax breaks, the buyer must not own any other properties anywhere in Italy purchased with the First Home Buyer tax break. There is one exception: the tax breaks are available if the property owned as a first home is sold within one year of purchasing the new property.


The first home benefits 2022 


For those seeking houses for sale and apartments for saleThe incentives available for a property that meets the "First Home" requirements are decidedly attractive. Here are the details.


Buying a first home discounts if you buy from a private seller:


  •    * registration tax reduced from 9 to 2% of its cadastral value 
       * fixed mortgage tax 50 euros
       * fixed land registry tax of 50 euros


If you purchase from a company (sale subject to VAT):


  •    * VAT from 10 to 4% 
       * fixed mortgage tax 200 euros
       * fixed land registry tax of 200 euros
       * fixed registration tax 200 euros


The benefits described also apply to appurtenances intended for the permanent use of the home (cellars, attics, sheds, garages, carports, parking spaces, etc.).


First home purchase 2022First Home Bonus for those under 36


The 2022 Budget Law introduced special tax incentives for young people under 36, to encourage them to access the real estate market and achieve independent living. 


By December 31, 2022, the expiration date for this exceptional measure, all young people under 36 with an ISEE of less than €40,000 are eligible for the benefits.


What are the benefits foreseen for this category, provided that the requirements for buying a first home described above?


The first advantage is easier access to credit, which translates into the possibility of having a government guarantee covering 80% of the mortgage. In other words, the government guarantees the amount, provided the mortgage does not exceed €250,000.


You also get:


  •    * complete exemption from registration tax, mortgage tax and land registry tax
       * a 50% reduction in notary fees
       * if you purchase from the manufacturer, 4% VAT is recognized as a tax credit


For further information on First Home benefits, please refer to Official guide from the Revenue Agency.


If you are looking for apartments for sale the houses for sale In Rome or Florence, or in another city in Tuscany, discover the real estate offers Carts. Contact usWe guarantee transparency, discretion, and professionalism! 

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