With the onset of the new year, many consider setting new resolutions, and purchasing a new house may be at the forefront of your aspirations. Allow us to update you on some noteworthy changes in 2024 that might have an impact on why you would buy and more importantly when.
Firstly, the threshold for utilising the transfer tax exemption has been raised to €510,000. Additionally, the NHG threshold has been elevated to €435,000, marking a €30,000 increase from the last year's limit of €405,000. The threshold has even increased up to €461,100 for properties with energy-saving features.
Moreover, there have been alterations to mortgage norms. For instance, if you are a single buyer earning at least €26,000 annually, you can now borrow €16,000 more than the previous year.
Also, the energy label of a property can have a significant impact on your mortgage capacity. Properties with a D or C label can qualify for an additional €5,000, those with a B or A label can secure an extra €10,000, and properties with an A+ or higher label can potentially borrow an additional €20,000.
Therefore, it is advisable to consult with your mortgage advisor to explore your updated possibilities. If you currently do not have one, feel free to reach out so I can provide some recommendations.
Should you wish to learn more or start on your housing journey, feel free to schedule a call so we can start our search for your dream home! 🔑