September 26, 2020

Five keys that are promoting cooperative housing


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Buying a new construction home is seen as an unthinkable formula for many citizens. However, Beyond formalizing the purchase through a promoter, there is the option of joining a cooperative, where the neighbors themselves act as promoters and own the land, although they are supported by a manager for the execution tasks. At the time of the boom, the bad practices of some cooperatives filled buyers with suspicions, but now they are healthy companies that are once again having the confidence of the demand. From piso.com, we tell you the advantages of betting on the purchase through a cooperative:

1. Personalization. Confinement has made us look at our home with different eyes, appreciating certain aspects and missing many others. One of the advantages of cooperatives is that the design of domestic spaces is not as corseted as with traditional promotion. The cooperative member has a wider sleeve to improve some characteristics, from the pavement to the enclosures.

2. Savings. Experts calculate 20% savings in the final price of a cooperative home compared to that of the classic developer, since their profit margin is eliminated from the equation. The profit motive is excluded from this form of self-promotion based on the creation of a company with its own legal personality, so certain costs do not apply.

3. Security. Leaving aside the poor ethics with which certain cooperative managers operated in the past, the truth is that this formula for access to housing is one of the safest that exists. Cooperatives are heavily regulated within current legislation. Frauds have disappeared because now the amounts must be guaranteed and all their activity must be transparent and communicated to the partners.

4. Financing. Another of the great advantages of cooperative housing has to do with the mortgage loan. In addition to allowing payment of the entry of the property in more flexible terms, when the entry is requested in one of them, the entity that finances the purchase of land already carries out a prescoring to each partner who paves the ground for the granting of the mortgage once the houses are handed over.

5. Taxation. It is also worth noting that the tax treatment of cooperatives is really advantageous. In this sense, the corporate tax is 20% and you can have a discount of 50% of the full fee. In addition, as it is a specially protected entity, only 5% of the Economic Activities Tax is paid.

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