As a home buyer you might have to pay PTT (Property Transfer Tax)
If you are planning a move and are calculating all the expenses you might have, don’t forget that as a home buyer you may be subject to a Property Transfer Tax. It’s based on the purchase price of the property. Details: CLICK HERE
There are many scenarios (first-time home buyers, etc.) that may give you reductions or exemptions but for many home buyers, the Property Transfer Tax will be equal to 1% of the first $200,000 of the purchase price plus 2% of the amount from $200,001 to $2 Million plus any amount above $2,000,001 will be charged at 3%.
Want a PTT calculator to make it simple? CLICK HERE
First-Time home buyer? CLICK HERE
It’s just another detail to be aware of that you should budget for.
Happy Home Hunting!