Quanto ti costa COMPRARE CASA? | Tutti i costi 2024

Summary

This video script delves into the financial aspects of purchasing a home in Italy. It covers the average real estate agency fees, mandatory contract registration costs, and various taxes applicable based on the type of property and buyer status, such as first homebuyers or purchases from a builder. The script also touches on notary fees, mortgage-related expenses, and the potential additional costs for those buying a property through a company. It concludes with an example calculation to estimate the total extra costs beyond the purchase price, highlighting the importance of understanding all financial implications before buying a home.

Takeaways

• 🏠 The average real estate agency commission in Italy is between 3% to 4% of the purchase price, but this can vary depending on the agreement between the parties.
• 📝 The registration of the preliminary contract is mandatory and incurs a flat fee of €200 plus €16 for stamp duty per every four pages or every 100 lines of the contract, with an additional 0.5% of the purchase price.
• 🔄 The 0.5% paid during the registration process is later deducted from the total registry tax paid to the notary, so it's not an actual cost but a prepayment.
• 📜 If a preliminary contract is to be transcribed, additional costs will apply, including a notary fee for transcribing the contract into the Land Registry.
• 💰 The tax implications for purchasing a property differ based on whether it's the first or second home, and if purchased from a builder within the last 5 years, VAT will be applied.
• 📈 For a first home purchase, the registry tax is reduced to 2% of the revalued cadastral income, with additional municipal and mortgage taxes of €50 each.
• 🏢 When purchasing from a construction company, VAT is applied at 4% for a first home and 9% for a second home, based on the purchase price, not the cadastral value.
• 🤔 The notary's fee for the preliminary contract and its transcription can vary widely and is typically around 1% of the property value for lower-priced properties.
• 💼 The notary's fee and other transaction costs are usually paid by the buyer, although this is a common practice and not a legal requirement.
• 🏦 If a mortgage is involved, there are additional costs including the bank's loan setup fee, property appraisal, and a substitute tax on the mortgage amount.
• 📊 The total cost of purchasing a property can be estimated at around 10% for a first home and up to 15% for a second home, with potential additional costs when buying from a builder.

Q & A

What is the average percentage of the real estate agency fee in Italy?

The average agency fee in Italy is 3% of the purchase price, but it can vary up to 5% or 6% depending on the services provided and the agreement between the agency and the client.

How is the real estate agency fee determined if there is no prior agreement?

If there is no prior agreement on the agency fee or if there are discrepancies, it is determined according to customary practices, which are listed by each Chamber of Commerce and province.

What is the registration fee for a preliminary contract in Italy?

The registration fee for a preliminary contract is a flat rate of €200, plus €16 for stamps every four pages or every 100 lines of the contract, plus 0.5% of the purchase price.

What is the purpose of registering a preliminary contract?

The registration of a preliminary contract is mandatory and serves to ensure that taxes are paid. It does not, however, prevent others from registering mortgages or other deeds on the property.

What is the purpose of transcribing a preliminary contract?

Transcribing a preliminary contract reserves the property for the buyer, preventing others from registering deeds such as mortgages or other sales acts on the same property.

What are the tax benefits for purchasing a first home in Italy?

The tax benefits for purchasing a first home include a reduced registration tax of 2% on the revalued cadastral value, and a cadastral tax and mortgage tax of €50 each.

What is the registration tax rate for purchasing a second home in Italy?

The registration tax rate for purchasing a second home is 9%, and the taxable base is calculated by multiplying the cadastral income by 126 instead of 115.5.

What is the difference in VAT application when buying a property from a construction company versus a private individual?

When buying from a construction company, VAT is applied to the purchase price: 4% for a first home and 9% for a second home. In contrast, purchases between private individuals are exempt from VAT.

What are the common notary fees for a property transaction in Italy?

Notary fees can vary based on the professional, the area, and the type of property. For properties valued at 100,000 to 300,000 euros, notary fees might be around 1% of the property price.

Who typically pays the notary fees and taxes in a property transaction in Italy?

It is common practice in Italy for the buyer to pay the notary fees and taxes, although this is not a legal requirement and can be negotiated differently between the buyer and the seller.

What are the additional costs associated with obtaining a mortgage for a property purchase?

Additional costs associated with a mortgage include the mortgage application fee, property appraisal fee, and a substitute tax on the mortgage amount, which is 0.25% for a first home and 2% for a second home.