Before taking full advantage of your second home, it is necessary to think about the various essential administrative procedures. In particular, there are statements to be made at the time of acquisition.
Declare the purchase of a second home
The expenses related to a second home
The acquisition of a second home involves different costs that should not be neglected. In addition to the price of the property, there are different costs to consider. First, there are the notary fees that will be solicited for purchase formalities and various declarations, especially from tax agencies.
Beyond the notary's fees, we must also think taxes to report, in this case the property tax and the housing tax. In this area, it should be emphasized that a secondary residence is not subject to a reduction. Must therefore declare the purchase of a second home on his tax return.
Second home: taxation to know
When buying a second home, there are two taxes that may apply, depending on the nature of the property purchased. You have to pay either VAT real estate is the registration fees according to the date of construction of the property sold.
Real estate VAT, corresponding to a rate of 20%, is applicable for a qualified asset of nine. It may be a dwelling that is in the sale category in the future state of completion (VEFA) or has been completed for less than 5 years. This property must not have already been sold a first time. This VAT is also valid for the construction of a detached house. It should be noted that this is a "silent" VAT which is automatically included in the price of the property and intended for the IFCS.
In the case of an acquisition of real estate property of more than 5 years, it is another type of tax that applies. More specifically, the buyer must pay registration fees, also known as transfer duties. The rate is much lower than real estate VAT: the tax is 5.80%, applied on the purchase price.
The case of a building plot
If you choose to purchase a building plot for the purpose of building your second home, then the registration fees apply for the acquisition of the land (5.80%). On the other hand, it is the VAT of 20% which enters into force for the construction.