Ongoing Costs: Plan Ahead to Control Your Budget
Recurring expenses represent the most regular cost category when owning a second home. These typically include:
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water, electricity, and heating,
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internet connection,
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home insurance,
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garden or swimming pool maintenance,
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security or caretaking services where applicable.
According to real estate professionals, these annual expenses can represent between 1% and 4% of the property’s purchase price, depending on its type and location.
For a condominium apartment, additional collective charges apply: maintenance of common areas, elevator servicing, cleaning contracts, and increasingly frequent energy renovation works when the building does not comply with current environmental standards. These factors should be carefully considered from the early stages of your purchase project.
Taxation and Second Homes: Pay Attention to Local Taxes and Capital Gains
All second-home owners are liable for:
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property tax (taxe foncière),
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household waste collection tax,
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and housing tax, which still applies to second homes.
In certain municipalities where the real estate market is particularly tight, a surcharge on housing tax may be applied. It is therefore essential to review local taxation before acquiring a property.
Buyers must also monitor the overall value of their real estate assets. When total property holdings exceed €1.3 million, owners become subject to the Real Estate Wealth Tax (IFI).
In addition, certain municipalities with more than 50,000 inhabitants apply a tax on vacant properties, designed to address housing shortages. This tax only applies in cities officially listed by decree.
