Are you under 35 and looking to buy your primary residence? Do you have children in your care? your income does not exceed 37,800 € gross per year? If you can answer “yes” to two of these three questions, this information is of interest to you.

The Government has approved a State guarantee for the sale and purchase of housing that will be in force until December 31, 2025, with the possibility of being extended for two more years. Endowed with 2.5 billion euros, this guarantee, which is neither a subsidy nor a non-refundable aid, will enable buyers to access more favorable financing for the purchase of their primary residence.

Pending the signing of the corresponding agreements, when it definitively enters into force, the State guarantee will cover up to 25% of the value of the property if the Energy Efficiency Certificate (CEE) is rated D or higher, and 20% if it is lower. In addition, this amount will increase slightly for each child dependent on the buyer, totaling €2,520 gross per year for each of them. In the event that the home is purchased by two people, the income limit will be doubled, i.e., a maximum of €75,600 gross per year between the two members of the couple, plus the aforementioned €2,520 gross per year for each dependent child. In the case of single-parent families, the limit may be increased by an additional 70%.

The aim is to facilitate access to purchase for those people who do not comply with the “standard conditions” that banks have been requesting for the granting of mortgage loans: savings of 20% of the value of the property, plus the corresponding expenses. With the entry into force of these guarantees, it will no longer be necessary to have such high savings to be able to buy your home.

It is important to bear in mind that there will be a maximum limit on the price or appraisal of housing that has yet to be determined and that will not be the same for all the Autonomous Communities. The term of the guarantee granted by the Government will be for a maximum of 10 years, regardless of the loan repayment period and whether or not there is a grace period. This endorsement by the State is a great opportunity for buyers who meet the established requirements.

At HogarAbitat, we are committed to our clients and we will make sure you know all the options available to help you find your ideal home. Do not hesitate to contact our partners for more information.

La entrada ICO guarantees for home purchase and sale: A GREAT Opportunity se publicó primero en El Blog de HogarAbitat.

1. Start saving

If you haven’t started saving for a down payment yet, now is the time to start. The more you can save, the easier it will be to get a mortgage and the more affordable your monthly payment will be.

2. Determines the budget

Before you start looking for houses, it is important to have a clear idea of your budget. Consider your income, current expenses and future goals to determine a reasonable price range. If you have any doubts, your bank or your trusted real estate agent can offer you free advice to guide you in this regard.

3. Beware of pre-loans

As we said, if you are going to need a mortgage, the bank will study your income to determine your ability to pay and what home you can afford to buy with that ability. If you have personal loans (car, credit cards, etc.) your ability to pay will be reduced. Avoid if possible applying for any type of personal loan if you have in mind to start looking for your new home.

4. Get pre-approved for a mortgage

A mortgage pre-approval can make your offer more attractive to sellers and give you a better idea of what you can afford. Contact several banks to compare conditions or ask your real estate agent for a study to start the process.

5. Do your research

Start researching the areas you would like to live in, the features you want in a home, and the approximate price range for that type of home in that particular area. This will help you refine your search, make more effective use of your time and have a realistic view.

6. Hire a Real Estate Agent

A real estate agent can be an invaluable aid in the process of finding your new home. A good professional will help you find homes that meet your criteria, negotiate offers and, above all, provide you with information, peace of mind and legal security throughout the entire process.

7. Be patient and keep an open mind

Finally, remember to be patient. Buying a home is an important step and can take time. You may not find the perfect home right away. Be constant and try to keep an open mind and introduce small changes (area, features, budget, etc.) as time goes by. It will prevent you from feeling frustrated and, more importantly, you will be able to discover opportunities that you had not even contemplated at the time.

We hope these tips will help you prepare to find your home in 2024. At HogarAbitat we are always here to help you every step of the way. We offer you totally free financial advice, an offer of more than 1,100 homes on our website and the guarantee that, if we do not have what you are looking for, we will find it for you. We are waiting for you to make your dream come true!

La entrada 7 tips for buying your home in 2024 se publicó primero en El Blog de HogarAbitat.

It is important to bear in mind that there will be a maximum limit on the price or appraisal of housing that has yet to be determined and that will not be the same for all the Autonomous Communities. The term of the guarantee granted by the Government will be for a maximum of 10 years, regardless of the loan repayment period and whether or not there is a grace period. This endorsement by the State represents a great opportunity for buyers who meet the established requirements.

At HogarAbitat, we are committed to our clients and we will make sure you know all the options available to help you find your ideal home. Do not hesitate to contact our partners for more information.

La entrada State guarantee for home sales and purchases: a GREAT opportunity for homebuyers se publicó primero en El Blog de HogarAbitat.

We firmly believe that professionalism must go hand in hand with a personal, more humane treatment, because our clients are not numbers, they are people who trust us to help them in one of the most important decisions of their lives. With HogarAbitat you will have a professional team during the whole process of searching and buying what is going to be your new home. We adapt to your schedule, including weekends and holidays.

We select the best opportunities for you based on your criteria and needs, adjusting to your budget and saving you time.

Our mission is to cover any possibility you may have. Do you need advice for your renovation or do you want to change the distribution? We can get you quotes from reliable specialized companies.

What does your dream home look like?

We negotiate the best conditions for you, with transparency and legal certainty, achieving a fair deal between buyer and seller. With HogarAbitat you will have legal support in earnest money contracts, notarial deeds, appraisals, inheritances, donations, registry registrations and many more.

Your signature in a notary’s office with all the guarantees.

Do you need financing? We offer you all the facilities with professional advice to solve your doubts.

Did you know that in many cases we can get you up to 100% financing plus expenses, without collateral?

You are already an owner, you have fulfilled your dream! Our work does not end here, we offer you an after-sales service for the processing of new or change of ownership of supplies, licenses and removals. decoration and interior design projects… In HogarAbitat you have at your service professionals from different fields whose goal is to make the purchase of your home clear, simple and transparent.

You set the goal. We accompany you and make the road easier. Call us and check it out!

La entrada Dream factory se publicó primero en El Blog de HogarAbitat.

Notary. Notary fees are regulated by the State and are set in relation to the value of the property. The usual cost ranges between 600€ and 1.000€.

Management. In case of buying the property in cash, it would be optional, although it is advisable that all the processes, such as tax liquidation and registration of the title of sale, are entrusted to specialized professionals.

Land Registry. It is the final step of the sale and purchase process and the one that guarantees the greatest legal certainty. Their fees are set by regulation and depend on the price of the property.

The largest expense derived from the purchase will be the related taxes. In the case of new buildings, the tax is VAT, which in the Valencian Community amounts to 10% of the value of the property. A second tax must be added, the stamp duty (IAJD), which in our case is 1.5%, with a reduced rate of 0.1% if the property we buy is going to be our primary residence.

For second transfer properties, the most important tax is the Transfer Tax (ITP), at the general rate of 10%. in the Valencian Community and 8% in the Region of Murcia. However, there are reduced rates of 8% and 4% for VPO, large families, people under 35 years of age and the physically or mentally handicapped (for information on reduced rates in regions other than the Valencian Community, please contact us).

Mortgage expenses

Since the entry into force of the new Mortgage Law in June 2019, it is the banks that assume the costs of IAJD, notary, agency and Land Registry fees derived from the mortgage deed, which were previously paid by the buyer. Thus, the only additional expenses in the case of a purchase with a mortgage loan would be two.

The law requires that the property be appraised by an appraisal company before the mortgage loan is granted. It is this appraisal report that the bank will use to determine the approved mortgage amount. The price of the appraisal varies depending on the appraisal company and the characteristics of the property.

On the part of the bank, you may be charged an origination fee, which usually ranges from 0.5 to 2% of the capital granted. However, there are many entities that do not apply this fee.

Do you have any questions or would you like more information? Ask us for a free personalized consultation!

La entrada What expenses will you incur when you buy your home? se publicó primero en El Blog de HogarAbitat.

What does this mean exactly? In addition to the obvious, which is the magnificent profitability for those who wish to invest in housing and then allocate it to the rental market, there is also a second, very positive reading for those who are looking for housing for their own use, with no investment intentions. The aforementioned study shows that Valencia and its metropolitan area have a real estate market in which it is still more profitable to buy a home than to rent, or in other words, the monthly mortgage payment for a home is cheaper than what we would pay as monthly rent for the same home.

And if you want to take the step of finding your new home or looking for a new investment, find out at HogarAbitateverything we can offer you.

Source: Idealista.com

La entrada Valencia is the most profitable city in Spain for housing and the second most profitable in Europe se publicó primero en El Blog de HogarAbitat.

2. Once you have reviewed your needs, analyze what is your real capacity to satisfy them. What is essential for you? What could you give up? In the end, your ideal home will be a balance between what you like and your budget.

3. Decide on your type of home: new or second hand? Reformed or original? There are no wrong choices, only personal circumstances.

4. In addition to the house itself, think also about its location and surroundings. The neighborhood should fit your personality and needs Are there schools? Public transportation? Are you close to work?

5. Also assess the condition of the building and ask if there are any outstanding charges that may cause you future expenses. Find out the community expenses: we all like residential homes with swimming pool, sports area and garden; but think that the more services, the more expenses.

6. Find out if the home has encumbrances. It is usual that the property for sale has a mortgage or some kind of encumbrance, but you must make sure that all of them are cancelled at the moment of the notarial signature.

7. Find out about all the procedures and expenses that you are going to face, beyond the price of the house. Make sure you have the necessary information about financing if you are going to apply for a mortgage loan.

8. It has the support of professionals. It is difficult to cover all the possibilities in the market. Having qualified professionals simplifies the process, gives you greater security and allows you to access a wider range of products and services.

La entrada The 8 keys to make your home purchase a success se publicó primero en El Blog de HogarAbitat.