Buying your first home, a time in life full of joy and emotion, but also of decisive choices and details to pay attention to. The choice of a house must first of all start from a place that makes you feel good. Your feelings can be triggered as soon as you see a property advert. Once the first impression has been confirmed in person, a process begins with a number of stages to be respected so as not to miss the opportunity. The process of buying your first home is certainly easier and safer if you are supported by professionals such as those of Engel & Völkers Lago Maggiore and Lago d'Orta. Here is some advice on buying your first home.
The first thing to do when you have decided to buy your first home is to know what is on offer. It is a good idea to establish a few criteria that correspond to the buyer's needs. First of all, the area, then the type of house and a budget range. This allows you to narrow down the choice immediately and avoid wasting time in searches that are not appropriate.
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Once you have selected a listing that matches your expectations, the next step is to visit the house in person to see it. During the visit it is important to feel the impressions of the house, but also to consider certain details with a clinical eye. Some examples? The location and brightness, for example, should be considered, as well as the general condition of the house. It is important to know whether the installations are up to standard and whether any work needs to be done. It also makes a difference to better understand the area in which the house is located and whether and how it is served. It is useful to make a proper check list of costs.
When it comes to costs, there is one aspect that needs to be considered when choosing the right home for your first home purchase, and that is the total budget for the purchase. The total amount of the expenses for the first home is not limited to that expressed in the ad, but includes other, such as the cost of the notary, taxes, the cost of a possible mortgage and renovation work if necessary. Evaluating all these items is essential to get a clear idea of how much it will cost to buy your first home.
The notary is a key player in the practice of buying a first home. His role is fundamental in order to carry out all the necessary checks so that the purchase of the first home does not present unexpected or real obstacles. Among other things, the notary verifies that the seller has the full rights to sell the property, checks that the building for sale complies with regulations and that there are no outstanding issues to be resolved. The notary also draws up and presides over the sale contract, takes care of its registration and payment of taxes. The cost of the notary for the purchase of a first home can be a significant item, but the notary's work is a guarantee for the success of the purchase.
If you have just visited a house that meets your expectations and you have assessed the costs, the advice is not to wait too long to make an offer to buy. While it is good to visit more than one house before getting a final idea, you need to know when to proceed. The moment of selection, when you do not set yourself a target, can last many months or even years. You should avoid being preceded by other buyers when you realise that you are looking at a house that meets your expectations, your budget and gives you emotions.
When you are about to buy a house, you should know that you are entitled to certain tax breaks on the purchase of your first home. These taxes are paid directly by the notary, who adds them to his fee. In the case of a first home purchase the registration tax is reduced from 9% to 2% on the value of the property. Mortgage tax and cadastral tax drop from 200 euros each to 50 euros. Among other things, it is good to know that the property acquired as a first home must be located in the municipality of residence of the buyer, and that you can buy a property with first home benefits even if you already own a first home, provided that the first home owned is sold within one year of the second purchase. The Italian Government's 'Decreto Sostegni bis' also introduced a number of additional benefits, including exemption from paying first home taxes for young people under 36. These benefits have been extended by the Budget Law until the end of 2022.
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