If you’re buying your first home, there’s a lot to sort out financially. Fortunately, the government offers young homebuyers a significant benefit under certain conditions: the first-time buyer’s exemption. Under this scheme, you don’t have to pay stamp duty on the transfer of ownership, which saves you thousands of euros of your own money at the solicitor’s.
To be eligible for the stamp duty exemption for first-time buyers, you must meet a number of legal criteria. The scheme was specifically introduced to strengthen the position of young first-time buyers relative to investors in the property market. If you do not meet all the conditions, you will pay the standard rate of two per cent on the purchase price.
The key criteria at a glance:
Our NVM estate agents will guide you carefully through the entire process. If you’d like to know exactly how this applies to your situation, take a look at the full Overspaern’s procurement process for further insights.
When you buy a property with a partner, the situation regarding stamp duty is assessed on an individual basis. It is not uncommon for one partner to meet all the conditions whilst the other does not, for example because they are over 35 years of age or have already made use of the scheme in the past.
In that case, the partner who does not meet the conditions pays two per cent tax on their share of the property, whilst the qualifying partner is exempt for their own half. This requires an accurate calculation of the necessary personal funds prior to signing the purchase agreement. With a clear, down-to-earth approach, we ensure you know exactly where you stand. Are you curious to find out how other homebuyers have found our guidance? Then feel free to read the customer reviews on the website.
To claim the exemption, you must sign an official form at the notary’s office: the declaration for the first-time buyer’s exemption from transfer tax. By doing so, you declare, in accordance with the applicable laws and regulations, that you meet all the conditions and will be living in the property yourself. The notary will attach this document to the deed of transfer.
It is important that your financial plans are sound from an early stage, so that you do not encounter any surprises during the bidding process in Haarlem and Heemstede. After all, as well as stamp duty, you will have to deal with other costs, such as notary fees and valuation costs. With our down-to-earth market analysis and people-centred approach, we help you make sound decisions with confidence. For personalised advice, you can always a no-obligation consultation at our office schedule.
First-time buyers aged between 18 and 35 can be granted a one-off exemption from the two per cent transfer tax when purchasing a property, provided that the purchase price remains below the statutory limit and you intend to live there yourself.
Yes, the exemption is assessed on a case-by-case basis for each buyer. Buyers under the age of 35 do not pay tax on their share, whilst buyers aged 35 or over pay two per cent tax on their own share of the property.
You apply for the exemption by completing and signing a written declaration in the presence of a notary prior to the transfer of ownership.
If the purchase price of the property exceeds the statutory threshold for the first-time buyer exemption, the exemption lapses entirely and you will be liable to pay two per cent transfer tax on the full purchase price.
No, new-build properties are sold free of title. Instead of stamp duty, VAT is already included in the purchase price.
