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Definition of the first suite To enjoy the preferential policies of the first suite, we must first understand what the first suite is. In fact, the definition of the first suite is very simple, as long as the following three conditions are met: at least 18 years old, the house purchased is an ordinary house below 90 square meters, and there is no other property under the buyer's name.
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1, at least 18 years old.
Only when they are 18 years old can they be regarded as adults with full capacity for civil conduct and independent capacity for civil activities. If the buyer is under the age of 18, it will generally be counted by the buyer's family. That is to say, even if parents contribute money to buy a house for their children, there is no real estate under their children's names. As long as there is a house under their parents' names, it still cannot be counted as the first suite.
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2. The house purchased is an ordinary house below 90 square meters.
The introduction of the first suite is for the convenience of people who just need housing, so ordinary houses of 90 square meters or less can enjoy the preferential deed tax rate of 1%, which is only available in the first suite. If the housing area purchased by property buyers is more than 90 square meters, they will naturally not enjoy this discount.
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3. There is no other property under the name of the buyer.
In fact, this article is easy to understand. The first suite is, to a certain extent, the first suite bought by property buyers. If there are other properties under the name of the purchaser, such as those purchased independently by the purchaser and those purchased jointly with others, they will naturally not be counted as the first suite when buying a new house, so they do not meet the conditions of the first suite, even if you did not enjoy the preferential treatment of the first suite when purchasing the property before.
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In short, the above three conditions can be said to be hard requirements. If the property buyers do not meet any of them when purchasing real estate, they will not meet the conditions for purchasing the first suite, and naturally they will not be able to enjoy the preferential treatment of the first suite.
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The preferential treatment of the first suite is very strong, mainly concentrated in these aspects: the down payment ratio is reduced, the loan interest rate is more favorable, and the deed tax is reduced.
First, the down payment ratio of the first suite is low.
Under normal circumstances, buyers only need to pay a minimum down payment ratio of 30% for the first suite, while if they buy the second and third suites, the down payment ratio may be 40% and 50%. This is very cost-effective for many young people who just work and need to buy a house, because when the down payment ratio is reduced, they are more likely to increase the down payment and buy the just-needed housing they need faster.
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Second, the loan interest rate is more favorable.
Compared with the second and third suites, the mortgage interest rate of the first suite is more favorable, which also relieves the economic pressure brought by people buying a house, which is very good news for those who just need housing. After all, when the loan interest rate is more favorable, people naturally need to spend less money to buy a house and it is easier to repay the mortgage.
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Third, deed tax relief.
This discount is only for ordinary houses below 90 square meters. If the house purchased by property buyers meets this condition, then they can enjoy the preferential deed tax rate of 1%. You know, under normal circumstances, when the property right of the house changes, the deed tax that the new owner needs to pay is 3%-5%. Although it is not much higher than 1%, it can still save a lot of money for buyers.
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Generally speaking, the discount for the first suite is very real, but if you want to buy the first suite, you need to meet three conditions: being at least 18 years old, buying an ordinary house below 90 square meters, and having no real estate in the buyer's name, otherwise you can't enjoy the discount for the first suite.