Before visiting a second-hand VPO home, you should know that it is not a usual home: as a buyer, you must meet a series of requirements for its transmission. Not everyone can access them! Do you want to know if you could acquire one?
Before starting to read this article, you may have wondered: what is a VPO home?
A VPO is a home that has a limited price, thanks to the fact that it is partly subsidized by the Public Administrations. These types of houses exist in order to guarantee access to decent housing for people with low or medium income.
Selling a VPO is not a simple transaction. However, the cost-benefit equation shows a positive balance for any buyer who ventures to acquire one.
1. Is it possible to buy a second-hand VPO?
Have you seen an ad on Idealista that indicates that the ad is a VPO? It is real. Don't be scared: it is possible to sell a VPO in Malaga, although with limitations.
The main ways to sell a VPO are the following:
- After the qualification period of the VPO, the house becomes free and can be sold as another property. That is, VPOs have an "expiration date" which in Andalusia is usually 30 years.
- The owner requests the disqualification of the home, which means that the minimum period for submitting the application has elapsed, the home loan has been amortized and he is also going to repay the corresponding aid along with interest.
- Without having passed the VPO qualification period, the owner may have requested permission from the administration for its sale and returning the aid with interest. The most common reasons for requesting this permit are transfers to another location for work, increasing the family unit, the existence of a person with special needs or a disability.
- It is the last case that concerns us in this case, since the house would continue to be under official protection and not for free sale.
2. What requirements must you meet to buy a second-hand VPO in Malaga?
We get into the matter! We are going to reveal to you what are the requirements and conditions to be eligible for a VPO and how to do it.
If you want to acquire a second-hand VPO home, you have to know that there are certain requirements that you must meet in order to be eligible to get your future home:
Before beginning the search or purchase process, you must register with the Municipal Public Registries of Protected Housing Claimants of the Malaga City Council.
But, in addition to that much-needed step, you have to:
- Not be the owner of another free home or VPO, except for exceptions provided by law for justified reasons of housing need. This norm is extensible to the members of your family unit.
- The house must be used as habitual and permanent residence.
- Do not exceed a certain level of income established by each autonomous community. The weighted family income may not, in any case, exceed the maximum income that the Autonomous Housing Plan sets for the assimilable program of the home to be acquired. The current plan establishes the following income limits:
- 3.00 IPREM for Special Regime.
- 4.00 IPREM for General Regime if it is publicly promoted.
- 4.00 IPREM, during the first 15 years, if it is under the General Regime of private protection and after that period, 5.5 IPREM. 5.50 IPREM for Limited Price.
To find out if you can exceed this requirement, you must multiply the current IPREM by the limit that belongs to your case. For example, if we are talking about a special regime, you must multiply the aforementioned value by 3.00 and check if your annual income, according to the income statement, exceeds this amount.
3. Considerations and characteristics when acquiring a VPO home in Malaga.
As these houses are partially financed by the corresponding administration, they are governed by very strict regulations. And you need to know all that fine print that goes along with a VPO!
We highlight several of the most relevant aspects of a VPO:
- VPO homes have a maximum sale price, which is requested from the Junta de Andalucía in our case.
- A VPO home has to be transformed into your habitual residence. It cannot be used as a second home and in fact, they will not allow you to acquire a VPO if you already own another home, since the purpose of this type of property is to help those who do not own a home.
- As the owner, during the protection period, you cannot freely sell the home. Normally the duration of protection of a VPO home in Andalusia is 30 years, but after 10 years you can sell at the maximum price set by the Junta de Andalucía, which varies depending on the type of VPO in question.
