Buying a Home in 2024: What You Need to Know
As we step into 2024, many of us are setting new goals, and for some, purchasing a home is high on the list. With the housing market evolving, it’s important to stay informed about changes that could influence your decision on when to buy. Here’s what you should know:
Transfer Tax Exemption Updates
In 2024, the transfer tax exemption threshold has increased to €510,000. This is a significant update for homebuyers. Additionally, the NHG (National Mortgage Guarantee) limit has been raised to €435,000, an increase from last year’s €405,000. If you’re purchasing an energy-efficient property, that limit rises even higher to €461,100.
New Mortgage Lending Norms
Changes to mortgage lending rules mean that if you’re a single buyer earning at least €26,000 annually, you may be eligible to borrow up to €16,000 more compared to last year. These adjustments make it easier for many buyers to secure a higher mortgage.
Energy Efficiency Matters
The energy rating of a property can also impact your mortgage potential. Homes with a D or C energy label can get an extra €5,000 added to the loan, those with a B or A label qualify for an additional €10,000, and properties with an A+ label or higher can see a potential increase of up to €20,000.
Consult with a Mortgage Expert
Considering these new regulations, it’s crucial to consult with a mortgage advisor to understand how your borrowing options have changed. If you don’t have one yet, I’d be happy to connect you with trusted professionals.
Ready to take the next step in your home-buying journey? Reach out to schedule a call, and let’s start looking for your perfect home! 🏡