Primo-accedant

Real estate: conditions and advantages for the first-time buyer – challenges

Buying a property is easier when you are a first time buyer. Indeed, the state offers undeniable advantages, especially with regard to loans. The most important is definitely PTZ or Loan without rate, which facilitates access to real estate Tested by means (officially extended to the end of 2022), its close attribution loan under agreement (PC) remains independent of means. A PAS (Social Joining Loan) or Action Logement Joining Loan is also taken into consideration. Tax benefits enhance the interest to be a first time buyer, depending on income as well as the geographic location of the place of residence. Therefore, it seems advantageous to purchase a property under the title of a first-time buyer. You still have to meet some basic conditions.

First time buyer: a case linked to the principal residence

The status of the first-time buyer only relates toBuying a home. No need to consider doubling the premium loans for We offer you a second home on the coast For your next retirement or vacation: Only major dwellings come into play, in other words the single dwelling you live in for most of the year, where you receive your current bills and the address you declared for taxes. Any person or family can have only one basic housing. It is therefore important to carefully choose your property as a first-time buyer in order to optimize the advantages that this situation offers.

To be a first time buyer, it is not necessary to own any property. You just need to have no main housing. So you can fully claim first time buyer status if you already own:

  • rental investments
  • second homes
  • Earth;
  • garages…

It is better to be a first-time buyer when conditions are favorable for the purchase of real estate: interest rates remain low and the borrowing rate has been raised to 35%. Purchasing with a personal contribution is still highly recommended, as many banks refuse loans to first-time buyers who arrive without cash.

However, the status of the first-time buyer is not associated with any test of financial means. The latter occurs only when determining the granting of the loan, when the banks determine the amount they are willing to give you.

Can we be a first time buyer as a couple?

It is possible to buy a property as a first-time buyer alone, but also as a couple. Therefore, it is perfectly permissible to invest in your main residence as a couple. It is therefore essential that the two members do not already have a principal residence. In this case, it will not be possible to take advantage of the advantages of the status as a married couple. Only one member will benefit, which could mean a completely different financial arrangement to buy or build the property.

Because of the advantages associated with first-time buyer status, it is best for a married couple not to own a primary residence. Since the amount borrowed from the bank by one member of the spouses will necessarily be less, the amount of PTZ will therefore be less, and the interest rate higher …

How to become a first time buyer again?

First time buyer is not a one time case. In fact, if you haven’t owned your main residence for at least two years, you’ll again be considered a first-time buyer. Therefore, it is possible to enjoy the advantages of this status, even if you have already owned a main residence. Therefore, you can get banking and tax advantages during many real estate projects.

This requirement for first-time buyer status may also be of interest to couples who already have a member’s primary residence. Then it is enough to sell the property and wait 24 months before the situation is restored. Therefore, you are considered a first-time buyer in two cases:

  • You’ve never bought basic housing.
  • You have not owned your primary residence for at least two years.

If you are a renter of your main residence or you have been staying with someone free of charge for more than 24 months, then you therefore have every opportunity to reach this status, which will allow you to obtain various loans from banks. The first-time buyer is indeed a case not to be missed in order to optimize his investment in his main residence.

(by HREF Editorial Board)

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