Real estate leasing: the calculation of the installments on the first home


Real estate leasing for the first home has become a new opportunity for citizens thanks to the 2016 Stability Law, which introduced some tax benefits for the use of this contract.

The lease for the use of a property works in the same way as the financial lease

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(The other names with which this form of contract is known) for a car or other asset instrumental to the activity of a professional or a company: the citizen requires an intermediary (a bank or a leasing company), called the grantor, to be able to use the property in exchange for the periodic payment of a fee, with the possibility, at the end of the contract, to become the owner with the payment of a purchase price.

The new opportunities proposed by the Stability Law concern residential real estate leasing and are dedicated to the purchase of the first home, to be used for housing purposes. The granting bank, upon indication of the applicant, or user, undertakes to purchase the asset (the previous owner or the manufacturer, which covers the role of supplier) on behalf of the user, who in turn will pay a fee calculated on the value of the property and on the length of the leasing contract: the first installment will be of a greater amount than the subsequent ones, even reaching 10-30% of the value of the house. At the end of this period, the user will be free to choose whether to redeem the house by paying a final fee, which will be lower than the market value, to which in fact the amount already paid with the periodic fee will have been deducted.

If instead you choose to give up the property, there is no penalty

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The benefits on real estate leasing consist of a 19% deduction on the annual fee, up to a cost of 4,000 euros per year, and a deduction of 19% on the final repurchase installment, for a sum of up to 10,000 euros. However, for those under 35 with an income of up to 55,000 euros per year, the reductions double: deductions at 19% are valid for expenses up to 8,000 and 20,000 euros, respectively. Furthermore, it must be remembered that the lease does not include preliminary or mortgage costs compared to a mortgage.

Generally, the disadvantage of real estate leasing with respect to a mortgage consists of higher periodic payments: other conditions being equal, usually the leasing contract is shorter than that of a loan (never over 20 years, usually between 12 and 15 , compared to even 30-year mortgages), so the installments are more expensive.