Buying house remains one of the most relevant financial decisions for any household. However, the housing cost goes beyond the sale value announced by the prosecutor or the owner. Taxation associated with home purchase can represent thousands of euros, with immediate impact on the buyer’s budget.
According to Bruno Garcia, a specialist at the Compajá.pt portal, it is common for buyers to focus on monthly housing credit and devalue the initial charges.
“Many only care about the value of the loan, but forget that financial effort begins before Scripture, with taxes that, in some cases, exceed 10,000 euros,” warns the expert.
The portal gathered the main mandatory taxes on the purchase of home in Portugal, with explanation of the calculation and eventual exemptions.
IMT: The tax that is paid at once and before the Scripture
The Municipal Tax on Decreased Real Estate Transmissions (IMT) is settled before the Signing of the deed and levies on the highest value between the purchase and the heritage.
The rate ranges from 1% to 8%, depending on the value of the property, location and purpose (first housing or second residence).
There is full exemption for real estate up to 92,407 euros on the continent, provided that their own and permanent housing are intended. Above this value, a progressive table applies.
IMI: the tax that is paid every year
The Municipal Real Estate Tax (IMI) is annual and calculates about the property value of the property. The rate is defined by each municipality and is between 0.3% and 0.45%.
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In some situations, it is possible to obtain temporary exemption, for example, if the aggregate yields are low and the house is intended for its own and permanent housing.
This exemption must be requested from the Tax Authority, ideally before the acquisition.
Seal Tax: Two rates, two moments
This tax focuses on both purchase and credit:
– 0,8% about the purchase value (paid in the deed);
– 0,6% on the amount of credit (if over 5 years).
For example, in a property of 200,000 euros with full financing, the seal tax may represent more than 2,800 euros.
Accounts made before avoid surprises later
Previously simulating credit and associated taxes is critical for those who are planning to purchase home.
“The informed buyer is better protected. Knowing what is told from the beginning avoids hasty decisions or financial skids,” says Bruno Garcia.
Tools such as Compaarjá.pt provide comparisons between bank proposals, allow to simulate the real charges of the operation of buying home.
They offer free support with certified experts, helping buyers to avoid unnecessary costs and choose the best solution to their profile.
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