Many people will just gloss over the maximum of a few million forints that can be borrowed now for one or two more children, but the story is not that simple. It's much more than that!
If you want independent financial advice on the subject: https://www.premiumingatlanok.com/partnereim/gesler-katalin
Currently, families who are raising or planning to have a child can apply for the following amounts in the form of a non-refundable subsidy (CSOK):
For the purchase of a second-hand property:
1 child: HUF 600 000,
2 children: HUF 1 430 000,
3 children: HUF 2 200 000,
For the purchase of a new property:
1 child: HUF 600 000,-Ft
2 children: 2 600 000,- Ft,
3 or more children: HUF 10 000 000
In addition to the above, families with two children or planning to have two children are also eligible for a HUF 10 million 3% subsidised interest rate loan, and families with 3 or more children can apply for HUF 15 million.
Whether or not you take out the subsidised loan along with the subsidy, the purchase will be tax-free when you use the CSOK.
In addition, when buying a new home, you can also claim a tax refund of 5% VAT on the purchase price.
All of the above will be a thing of the past from 2024 for families planning to live in the city.If you are eligible for the CSOK and related benefits, it is important to be aware of the financial loss you will incur if you postpone your property purchase until next year. Unfortunately, we are not only talking about the amount of the CSOK, we can lose orders of magnitude more than that.
I will give you a concrete example:
Let's assume that a family with two children wants to buy a second-hand apartment in Budapest for HUF 80 million.
This year, they can still apply for the CSOK and the subsidised loan for the children, and they don't have to pay the tax. Next year, they will no longer be able to benefit from any of these advantages. If they need a loan of HUF 10 million anyway, they will only be able to take it out at higher interest rates from January.
They will lose around HUF 12 million because of the amounts lost and the difference between the repayments of the two types of loans.
Suppose a family with (or planning to have) two children also wants to buy for twice as much without borrowing: they too will have to spend nearly HUF 8 million more on their housing next year. It should be noted here that subsidised loans are usually taken up by everyone who can afford them, even if they don't need them.
In the current market environment, our own capital can relatively easily pay out a multiple of the 3% loan interest rate to the bank.In the case of a new property, the amounts lost are even higher, due to the increased CSOK amount and the VAT subsidy.
For new properties, the amounts lost are even higher, due to the increased CSOK amount and the VAT subsidy.
Whatever your financial situation, these heavy sums hurt everyone!
That's why if you already have children or are about to start a family and are planning to buy a property, you need to act quickly now.
This year, you can still apply for state subsidies in the same way as before in the cities.
I have detailed information available, so you can save millions of forints too!
https://www.premiumingatlanok.com/en/partnereim/gesler-katalin
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