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{"id":6591,"date":"2023-12-14T09:19:19","date_gmt":"2023-12-14T09:19:19","guid":{"rendered":"https:\/\/www.adigrat.acserver.site\/a-brief-guide-to-taxes-for-buying-a-house\/"},"modified":"2023-12-14T09:41:33","modified_gmt":"2023-12-14T09:41:33","slug":"a-brief-guide-to-taxes-for-buying-a-house","status":"publish","type":"post","link":"https:\/\/www.adigrat.acserver.site\/en\/a-brief-guide-to-taxes-for-buying-a-house\/","title":{"rendered":"A brief guide to taxes for buying a house"},"content":{"rendered":"

Taxes associated with buying a house are frequently overlooked, yet they are crucial additional costs that can substantially impact the overall expense of a real estate investment. Knowing them is crucial to accurately plan your budget, thus enabling you to make more informed and secure investment decisions.<\/em><\/p>

After finding your ideal home<\/a> and deciding to buy it, addressing the tax implications of this decision is essential. Beyond the basic factors like the property’s location and size, buying a house estate necessitates a thorough analysis of the tax implications associated with the transaction.<\/p>

Besides the agreed-upon purchase price, the notary fees and the commission fees in case a real estate agent is involved, every real estate transaction requires the buyer and the seller to pay<\/a> certain taxes. The notary calculates these taxes and collects some of them on behalf of the government. The specific taxes and their amounts vary based on several factors. These include whether the seller is an individual or a company and whether the buyer qualifies for any tax benefits, especially when purchasing their first home.<\/p>

So, let\u2019s look at the key taxes to consider.<\/p>

Taxes for buying a house from a company<\/strong><\/p>

When you buy a house directly from the company responsible for its construction or renovation, the following taxes apply, provided the sale takes place within five years of completing the construction or renovation work:<\/p>