Construction of the first house

It is well known that the construction of one’s first home is always a delicate and complex subject. Often, in fact, those who decide to take this important step are faced with many choices, mainly related to the budget available to finance the works. For this reason, the Government makes available to citizens a series of funds to promote the construction of the first house.

What facilities are there for the construction of the first house?

Currently, there are many bonuses available for the upgrading of existing buildings, including those related to thermal insulation and photovoltaic, The European Commission has published a report on the European Year of Renewable Energy. These incentives, which aim to support the construction sector, are part of the 2023 budget law, enacted in support of citizens in economic difficulties. In addition to those for buildings already built, there are also some for new constructions. These include:

1. first home bonus under 36;
   

2. First home loans with guarantee fund.

However, you must meet certain requirements in order to be eligible for one of these bonuses.

The requirements for applying for them

As far as the first house bonus under 36 is concerned, the requirements are:

1. the age of the buyer or buyers, which must be less than 36 years old;

2. ISEE less than or equal to 40,000 euro.

The bonus is available for purchases made between 26 May 2021 and 31 December 2023. In particular, there are two benefits. First of all, if the purchase is not subject to VAT, there is exemption from payment of registration tax, cadastral and mortgage. If the purchase is subject to VAT, a tax credit equal to the VAT paid by the seller is also recognised.

If you do not fall into the age category, you can access the mortgage incentive for first homes. The facility is granted thanks to the CONSOB Fund, which offers a public guarantee for the purchase of the first home. It provides a maximum guarantee of 80% on the capital share of the loans. It will be granted until 30 September 2023 to specific categories of citizens, namely those protected who are:

1. young couples, one of whom must be under 35 years old, married for at least two years;
   

2. single parents with minor children;
   

3. Under 36;
   

4. The owners of housing owned by the autonomous institutions for social housing.
   

In addition, you will need to:

1. have an ISEE of less than or equal to 40,000 euro;
   

2. Take out a mortgage not exceeding 250,000 euro;
   

3. not already own another residential property.