Housing Purchase Assistance
May 23, 2024
If you are thinking of buying a house this year, it is essential that you know the housing purchase assistance currently available. In this article, we share with you all the information you need to acquire the home of your dreams in an accessible way.
Government Assistance for Housing Purchase
Currently, there are several government initiatives that aim to promote the acquisition of decent housing throughout the territory, offering favorable conditions for population groups with difficulties accessing the purchase of a home. Various profiles can access government assistance for housing purchase, such as young people, large families, and people with disabilities.
Some of the government assistance for housing purchase are the following:
- Guarantee of 20% of mortgage for young people and large families.
- Reduction of taxes related to the sale of a house: Discounts on the Tax on Documented Legal Acts and on the Property Transfer Tax.
- Support for mortgage payments: Aid for families with economic difficulties derived from the rise in interest rates.
Housing Purchase Assistance for Young People
The State Plan for Access to Housing 2022-2025 offers housing purchase assistance for young people under 35 years of age who want to acquire a habitual residence in municipalities with a census equal to or less than 100,000 inhabitants. This subsidy, managed by the autonomous communities, aims to promote the acquisition of habitual and permanent homes in municipalities with reduced populations.
To access this assistance, the annual income of applicants must be equal to or less than 25,200 euros, 33,600 euros for people with disabilities, and 42,000 euros for people with certain degrees of disability. The price of the house cannot exceed 120,000 euros, and a purchase contract must be signed for a minimum of 5 years.
The maximum amount of the housing purchase assistance for young people is up to 10,800 euros, with a guarantee limit of 20% of the purchase price.
Housing Purchase Assistance for Large Families
Large families can enjoy a wide range of state and regional aid to cover the needs related to family well-being. In the field of property acquisition, they can benefit from the discount on the Property Transfer Tax, reducing it to 4% in the acquisition of second-hand homes.
It should be noted that in the regional sphere, there is a wide range of alternatives and housing purchase assistance for large families and young people under 35 years of age to access housing under favorable conditions. We advise you to check what aid your autonomous community can offer you.
We Accompany You in the Purchase of your Home
At Espígul we help you find your future home. Our real estate advisors will accompany you throughout the purchase process, guiding you in each step to make the most of the economic aid offered by the government to promote the purchase of housing. Do not hesitate any longer and contact our team so that we can evaluate your case and offer you the solution that best suits your needs.
