Aid for the purchase of housing for young people in Valencia in 2024

Category: General

Acquiring a home is one of the biggest dreams of many people, especially for young people looking to become independent and build their own home. In 2024, Valencia offers a series of aid and programs to facilitate this process. Here we tell you everything you need to know to take advantage of these opportunities.

Subsidies from the state housing plan 2022-2025

The State Housing Plan, valid until 2025, includes specific aid for young people who want to buy their first home. This plan's main objective is to facilitate access to housing, especially for those groups with the most difficulties.

Requirements:

• Age: Be under 35 years of age at the time of requesting aid.
• Residence: The property acquired must be used as habitual and permanent residence.
• Housing price: It must not exceed certain limits established by the plan, which may vary depending on the geographical area.
• Income: The applicant's income must not exceed 3 times the IPREM (Multiple Effects Public Income Indicator).

Amount of aid:

• Up to 20% of the purchase price of the home, with a maximum of 10,800 euros. This assistance is an excellent opportunity to significantly reduce the cost of purchasing your home, especially when combined with other grants or financing programs.

How to request it:

1. Check the call: Find out more through the website of the Ministry of Transport, Mobility and Urban Agenda to find out the details and dates of the call.
2. Gather the necessary documentation: Includes ID, purchase and sale contract, proof of income, among others.
3. Submit the application: Follow the instructions specified in the call, which generally includes submitting the application through a digital platform or at a specific office.

Aid from the government of the Valencian Community

The Generalitat Valenciana complements the State Plan aid with additional subsidies. These aids are designed to adapt to the specific needs of residents in the Valencian Community.

Requirements:

• Age: Be under 35 years old.
• Residence: Living in the Valencian Community.
• Income: The income of the cohabitation unit must not exceed 3 times the IPREM.
• Use of the home: It must be used for habitual and permanent residence.

Amount of aid:

• The amount varies depending on income and the price of the home, but it can cover a significant percentage of the cost. The Generalitat Valenciana also offers specific aid for the rehabilitation of homes, which can be an excellent option if you consider buying a home that needs renovations.

How to request it:

1. Consult the call: Visit the Generalitat Valenciana website to obtain detailed information.
2. Gather the necessary documentation: Includes ID, proof of income, purchase and sale contract, among others.
3. Submit the application: Normally it is done through a digital platform or in authorized offices.

Young housing program of the Valencia city council

Valencia City Council also offers specific programs for young people, which include direct aid, access to public housing and rent-to-own options.

Requirements:

• Age: Be under 35 years old.
• Residence: Living in Valencia.
• Income: The specific requirements may vary each year and must be consulted on the official website of the town hall.

Amount of aid:

• Varies depending on the specific program, but may include direct subsidies, access to reduced-rate public housing, and rent-to-own options.

How to request it:

1. Check the call: Visit the website of the Valencia City Council to find out about the available programs.
2. Gather the necessary documentation: Includes ID, proof of income, rental or purchase-sale contract, among others.
3. Submit the application: Follow the specific instructions for the program you are interested in.

Young Mortgages

In addition to government aid, some banks offer mortgages with advantageous conditions for young people. These conditions may include lower interest rates, lower fees and longer payment terms.

Advantages:

• Lower interest rates: Many banks offer reduced interest rates for young people.
• Lower commissions: Some young mortgages eliminate or reduce certain commissions.
• Longer terms: They offer longer repayment terms to reduce monthly payments.

How to request it:

1. Investigate the options: Consult different banks and compare the conditions offered.
2. Gather the necessary documentation: Includes ID, proof of income, purchase-sale contract, among others.
3. Submit the application: Follow the process indicated by the selected bank.

Officially protected housing program (VPO)

Valencia also has officially protected housing (VPO), which is sold at limited prices to make them more accessible to young people.

Requirements:

• Age: Be under 35 years old.
• Residence: Living in the Valencian Community.
• Income: The income of the cohabitation unit must not exceed the established limits.
• Use of the home: It must be used for habitual and permanent residence.

Amount of aid:

• VPO prices are regulated and lower than those on the free market, making it easier for young people to access them.

How to request it:

1. Check the call: Visit the Generalitat Valenciana website to find out the details and dates of the call.
2. Gather the necessary documentation: Includes ID, proof of income, among others.
3. Submit the application: Follow the instructions specified in the call.

How to request this aid?

Step 1: Get informed

Consult the official websites of the Ministry of Transport, Mobility and Urban Agenda, the Generalitat Valenciana and the Valencia City Council to obtain updated information on each program. These pages usually publish the calls, requirements and application deadlines.

Step 2: Gather the documentation

Normally you will need:

• DNI or NIE.
• Purchase-sale or rental contract (as the case may be).
• Proof of income (payroll, income tax return, etc.).
• Certificate of registration (to prove residence).
• Other specific documents according to the aid program.

Step 3: Submit the application

Each program may have a different application process:

• Digital: Many requests can be made through digital platforms enabled by the authorities.
• In-Person: In some cases, it may be necessary to present documentation in person at specific offices.

Useful Tips:

• Anticipation: Grants usually have strict application deadlines. Find out in advance and gather the necessary documentation as soon as possible.
• Advice: If you have doubts, seek advice from your local housing offices or from specialized associations.
• Comparison: Don't stick with the first option you find. Compare the different mortgage aid and conditions to choose the best option for you.

Buying a home is a big step, but with the aid available in Valencia for 2024, this dream may be closer than you imagine. Find out, gather all the necessary documentation and do not hesitate to request this aid to facilitate your path towards acquiring your home.

Good luck in your home search and purchase!