Depending on whether you are a buyer of an apartment in an old or new building, you will have to pay one of two taxes – VAT or the transfer tax on absolute rights. And while VAT is the responsibility of those who buy apartments in new construction , you pay taxes on the transfer of absolute rights for old construction.
If you are planning to buy an apartment in an old building, it means that the apartment was already in circulation, be sure to calculate the cost for the transfer of absolute rights. You will pay 2.5 percent of the total value of the apartment for this tax. The law regulates that this tax is paid by the seller, but the practice is that this cost falls almost 100% on the buyer.
However, if you are buying a new building , then you are required to pay value added tax, known as VAT, and it is 10 percent of the value of the property. The most common situation when buying a new building is that the investor has already calculated the VAT he previously paid in the price of the apartment, while after buying the apartment you only have to initiate a tax refund process, that is, to refund that 10 percent, if this is your first apartment in owned.
New multi-storey buildings also have elevators, unlike old buildings where it is sometimes necessary to retrofit it if at all there are technical possibilities. If it’s a building, it means that for a while you won’t have to think about the elevator overhaul that awaits all tenants of the old buildings. When buying an apartment in a new building, however, care must be taken as to whether the investor provided the lift or just left space for it.Costs of maintaining the building
Tenants share the cost of maintaining the building, whether it is new construction or old construction. For newer buildings, tenants will for some time have no need for major work on the facade, roof, paths, provided, of course, that the building is of good quality and according to regulations.
Particular attention should be paid if we liked the apartment located in a protected area or the building is protected. In these cases, some building ventures on the exterior of the building may be restricted, and this applies to carpentry, balconies, facades … You can only change everything that is visible from the outside if you obtain special consent.
When we buy real estate, we are often eager to finish the process as soon as possible and to start building our new home as soon as possible. However, one must pay attention to all the little things and items that this property has to offer – some of them will affect the price and most of them the quality of our future life.