What are the costs of buying or renting a house?

Buying a home requires financial preparation. In addition to the capital that you will invest in the property, there are procedural costs that you will have to account for, namely, at the time of the deed.

At the time of the deed, you will be required to pay two taxes: the Municipal Tax on Onerous Real Estate Transactions (IMT) and the stamp duty. And, in case you resort to financing to make the purchase, you pay stamp duty not only on the value of the house but also on the housing loan.

In the case of IMT, the tax varies between 0% and 8% and depends on variables such as: the transaction value (the highest between the asset value and the sale value), the location of the house (Mainland or Autonomous Regions), the type of property (urban or rustic) and its purpose (first or second home).

There are cases where there is exemption from paying this tax. You can benefit from the exemption as long as the value declared in the deed does not exceed 92,407 euros and the house is intended for your own and permanent housing. But, attention, this value refers only to mainland Portugal. In the autonomous regions, the limit rises to 115,508 euros.

Contrary to what happens with the IMT, the stamp duty is fixed at 0.8% of the value of the business. If you have taken out a home loan, you must also pay stamp duty - 0.6% - on the financed amount.

In addition to the taxes to be paid during the deed, you can also count on notary and registration expenses. You can use Balcão Casa Pronta, a service that allows you to immediately carry out all the necessary formalities for the purchase and sale of a house. In this option, the values ​​can go from 375 euros, if you have not needed financing, to 700 euros, if you have taken out a home loan.

You can also use a notary or land registry office to do so. In this case, each office practices its price lists, and the costs may vary depending on the value of the transaction. Another alternative is to use a lawyer or solicitor, and if you have used mortgage loans, banks usually have agreements with registry offices and usually appoint their own lawyer.

If you want to rent a house, there are also costs. If you are thinking of renting your house, know that registering a lease on the Finance Portal requires the payment of Stamp Duty, which corresponds to 10% of the rent. This tax must be paid by the landlord by the end of the month following the beginning of the lease.

And from the moment you have a leased property, in the period of delivery of the IRS, you must declare the profits from the rents: in category F, relating to property income.

Source: Diário de Notícias