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Second Property

Posted by steve-boy - Created: 3 years ago
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8 replies (Showing replies: 1 to 8)

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Posted by tinabee - 3 years ago

There is a simulator here that may give you a guide, but the rules do seem to change every year, so it is worth double checking before relying on the figures provided.

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Posted by jackorjason - 3 years ago

If we ever do think of selling we would seek advice

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Posted by Yellowperill - 3 years ago

I can only say from my experience and as I moved some properties around in July last year that's how it worked out, your right though if you owned the property for a long time the charges do reduce yearly we owned ours since 2005 and where entitled to no reductions best go speak to your Notaire they will give you the advice and steer you in the right direction and of course advise from Notaires in France is free as I'm sure you know, so no where better to get the best and most correct advice

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Posted by jackorjason - 3 years ago

We have owned one property since 2000 - my wife has taken French citizenship ( we live here ) , don't intend to sell but it is an option ( money in the bank making nothing + if load to pay back to Government don't like that idea either ) !

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Posted by Busterboy - 3 years ago

Yes there is a diminishing scale of charges after the first 5 years!

It also depends on your country of residence - EU or not.

Also if not french resident  you should be able to claim back the social charges, although this seems to be an ongoing combat!!

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Posted by jackorjason - 3 years ago

I thought the longer you had owned the property the less you paid - if what you say is correct Farmingbrittany I doubt I will sell sell our other property but continue to rent it out

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Posted by Yellowperill - 3 years ago

Steveboy, actually if the 1 of your 2 properties that you sell is your main residence then you pay nothing, if it's not then you will pay 47% of up to the first 20 grand you make above the original purchase price then the rate flies up, you can offset some if you can demonstrate that you have spent on renovation, but DIY or materials will not count you would of needed to pay a registered company that did the work and provided materials. For a residence to be classed as your main residence if you have more than 1 property you need to demonstrate you have lived in it for the past 12 months

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Posted by brodeuse - 3 years ago

It will depend on how much profit you make on the sale and how long you have owned it!