What are the advantages of being a first-time buyer ?

Being a first-time buyer means being a first-time buyer. This can apply to the purchase of a house, a car, a property or any other product or service. The benefits of being a first-time buyer vary from situation to situation, but here are some of the most common benefits:

1. 1. Tax benefits :

• - Buying a new-build property : The property must be located in an ANRU (Agence nationale pour la rénovation urbaine) zone or a QPV (quartier prioritaire de la politique de la ville) zone. If you buy a new property in one of these 2 zones, you can benefit from VAT at 5.5% instead of 20%.
• - Exemption from property tax : You will be exempt from property tax for the first two years of buying a new property.
• - Tax relief : You will benefit from a reduction in income tax on the purchase of a new property. This can be up to 11% of the price of the property, subject to a ceiling of €18,000.

1. 2.  Lower interest rates :

Banks and lenders tend to offer lower interest rates to first-time buyers. This can enable them to borrow more money or repay their loan more quickly. Banks see this as a way of building long-term customer loyalty. They can also offer reduced application fees to attract these new customers. What's more, most first-time buyers are young. They are therefore less likely to be unable to repay the loan.

To encourage first-time buyers, banks sometimes agree to provide a 110% loan. The loan is used to finance the price of the property, as well as ancillary costs such as administration fees, notary fees and the cost of the guarantee. This way, the buyer does not need to make a personal contribution.

1. 3. The opportunity to build equity :

Buying a property or a real estate asset can build long-term net worth. Over time, the value of the property can increase, which can offer considerable financial benefits.

1. 4. The opportunity to personalise your home :

When you buy for the first time, you have the opportunity to personalise your home to suit your tastes and needs. This can be very rewarding on a personal level.

In short, being a first-time buyer can offer many financial and personal advantages. However, it is important to be well informed and prepared before making a major purchase to ensure that you make an informed decision.