Transfer tax 2021: what exactly does it mean?

Navigating the complexities of transfer tax can be daunting for potential homebuyers, with rates varying based on age and the intended use of the property. Understanding these nuances can help you avoid unexpected costs and make informed decisions, while a professional building inspection ensures peace of mind and prevents unforeseen expenses post-purchase.

Transfer tax has been partially abolished since 2021. Some homebuyers no longer have to pay transfer tax, while others do. Are you considering buying a home? Your age and the purpose of the purchase will be taken into account. Based on these factors, the transfer tax amount you must pay will be determined. This could be 0 percent (nothing), or 2 or 8 percent. Want to ensure you won't face any unexpected costs shortly after purchasing the home? Request a building inspection from Homekeur.

Who no longer has to pay transfer tax?

Are you buying a home and intend to move in yourself? Then you don't have to pay transfer tax if you're between 18 and 35 years old. Whether it's your first home purchase doesn't matter. If you're over 35 and have already used the exemption, you'll have to pay 2 percent transfer tax. Of course, there are also people who buy a home and don't live in it themselves. These are, for example, investors. They have to pay 8 percent transfer tax. This also applies, for example, to people buying a home for someone else, such as parents for their child. In all cases where the home is not occupied by the buyer, an 8 percent rate will be charged. The tax authorities conduct audits on this.

Exemption limit is 400,000 euros

The exemption is subject to some conditions. For example, an exemption threshold has already been set, effective April 1, 2021, at €400,000. If you intend to purchase a home for less than €400,000, the full exemption applies if applicable. Is the home more expensive? Then you must pay 2% transfer tax on the entire purchase price, not just on the amount exceeding €400,000. This arrangement only applies to homebuyers who intend to live in the home themselves.

The transfer tax is personal

It's important to know that the transfer tax is paid personally. However, the exemption is also personal. Are you 32 years old, your partner 36, and you want to buy a house together to live together? Then this means your partner has to pay 2 percent transfer tax , and you are exempt from paying transfer tax. This is based on a house with a price below €400,000.

Avoid additional costs after purchasing a home

There are many costs involved in buying a home, whether you have to pay transfer tax or not. Buying a home is expensive. It's especially important to ensure you don't face high, unexpected costs in the near future. Therefore, have a building inspection carried out by Homekeur. You can schedule an appointment online. Would you like more information or personal advice first? Feel free to contact us.

Would you like to make an appointment for a building inspection?

The cost of a building inspection (up to 250 m²) is only €489 including VAT. We'll conduct a comprehensive building inspection and you'll receive a building report. Do you have any questions? We're happy to help and can schedule an appointment with an expert inspector right away if you wish!

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