It's a well-known fact. The beginning of the year is always the time for good resolutions: I'm joining a gym, I'm quitting smoking... What if, for once, alongside these somewhat "classic" resolutions (which we don't keep most of the time), you also thought about your real estate assets? So, what are you doing in 2019?
Buying my primary residence
2019 should once again be a good time to make your plans for home ownership a reality. Interest rates are still low, and the PTZ has been extended to December 31, 2021, in the so-called "zones tendues" (zones A bis, A and B1). For B2 and C zones, on the other hand, the PTZ will end on December 31, 2019. In these zones, the PTZ will finance 20% of new-build property purchases and 40% of old-build property purchases with work carried out.
Buy in 36 hours
You're in a hurry to complete your real estate project at market prices. Immonot has the solution: 36-hour sales. This online auction service allows you to buy in 36 hours top time. Depending on the bids received from other buyers, you can decide whether or not to increase the purchase price. All this, of course, with the assurance that you'll pay fair value for your property, in complete transparency and security (the transaction is orchestrated and secured by the notary).
Reduce your tax bill by investing
Real estate is an excellent investment, especially when you consider that, under certain conditions, you can save up to 21% in income tax thanks to the Pinel scheme. This scheme will continue to apply until December 31, 2021, but only in the Abis, A and B1 zones.
I'm renovating
Your project will be supported by a number of grants and subsidies:
- The Eco-PTZ helps finance renovation work on older homes. This scheme is due to be extended until December 31, 2021. But with certain adjustments planned from March 2019. For example, the elimination of the notion of"bouquet of work" and the introduction of a single loan term set at 15 years ;
- the Energy Transition Tax Credit (CITE). Although it had been announced for several months that it would be discontinued and replaced by a bonus, the CITE is also set to be extended in 2019, under the same conditions as at present. In other words, a 30% tax credit for eligible operations.
And above all: ask my notaire for advice
Whatever your project, your notaire will be your key contact for advice on whether to buy a property or how to organize the management of your assets. So don't forget to make an appointment in 2019!
Taking stock of my current loans
If you feel that you're overburdened with credit or that your mortgage rate is exorbitant compared with current rates, make an appointment with your banker to :
- renegotiate your loans and find new financial conditions for an existing loan
- consolidate your loans to create a new one from scratch, using existing loans to facilitate repayment. The aim is to bring your monthly debt ratio below (or as close as possible to) the recommended 33%, so that you don't find yourself at the end of your rope.
I'm reviewing my mortgage insurance
Since 2010, there has been a succession of laws concerning changes to loan insurance. The latest is theBourquin amendment (which came into force on January 1, 2018). After the 1st year, you have the option of cancelling the contract each year, on the anniversary date of your loan contract (with 2 months' notice). The change of insurance will only be accepted if the new contract offers guarantees at least equivalent to the previous one. Your current bank has 10 days to accept or refuse your request. If it refuses, it must give reasons for its decision.
Marie-Christine Ménoire