this post was submitted on 25 Jul 2023
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One in four new UK homebuyers under 25 rely on ‘bank of mum and dad’ – study (www.theguardian.com)
submitted 1 year ago by [email protected] to c/[email protected]
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[–] [email protected] 3 points 1 year ago (1 children)

Under 25 😅

When my last parent dies, almost half of their property value goes to tax, the rest I'd split with siblings and I'll maybe get close to being able to consider buying my own place

[–] [email protected] 1 points 1 year ago

When my last parent dies, almost half of their property value goes to tax, the rest I'd split with siblings

Where do you live of I may ask? In Germany, even assuming a laughably expensive property worth 2 million EUR and without any tax optimizations, with 2 siblings you'd have to pay a bit below 30k EUR in taxes and receive property worth 667k EUR per child. If you got the property worth 2 million only yourself, you'd have to pay around 300k in taxes max.