The ultimate guide to buying a house in The Netherlands
Did you land a job here or have you decided on staying longer? In this case, buying a house in The Netherlands may be a good option. You no longer have to pay crazy amounts of rent and there's a good chance your property will gain value over time. Read along if you're looking for tips on how to acquire your new home. Good luck!
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Step 1: set your budget
Before you lose yourself on Funda (Holland's biggest housing platform), it's probably a good idea to set your budget. Have you saved money for this and do you wish to use it, or do you want to borrow the full 100% of the market value from the bank? Calculate the maximum amount of mortgage you can get.
Step 2: Don't overpay on mortgage advice
You want to be properly advised on your mortgage, so you're sure you won't overpay in the coming years. That's why it's imperative to work with an independent advisor. One that compares many banks and therefore can find the lowest interest rate. That doesn't mean you have to overpay your mortgage advisor! Frits has extremely competitive pricing and is very transparent about it.
Step 3: Hire a realtor for buying a house in The Netherlands
Of course, it's possible to buy a home by yourself, but it's quite difficult. There is a huge shortage of housing at the moment of writing, and houses are selling way above asking prices. Realtors have valuable connections which can help you find houses that have not 'entered the market yet'. Also, they have a lot of relevant knowledge about the housing market, locally and in general and can negotiate for you. Therefore hiring a realtor is recommended.
Step 4: House viewing
This is one of the more challenging parts of the process. When you visit a house, you'll find yourself surrounded by a lot of interested people on most occasions. Try to take as much time as you need and, if possible, bring a friend. As two see more than one, you can focus on details that might prove worth mentioning to the selling realtor. Some coloured spots on the ceiling for example. Also bring a list of questions you can ask the selling realtor, this way you don't forget the most important topics!
Step 5: Your bidding strategy
If you followed Step 2 and hired a realtor, you can decide together on your bidding strategy. Be sure to look for help for defining your opening bid so you can stand out among the competitors as much as possible. Of course, you should try to negotiate, but you don't want to lose the house right?
Step 6: Finalising your mortgage
Your bid is accepted and you got the house! Congratulations! When you're signing the preliminary contract, make sure to include the resolutive conditions. This way you don't have to have to pay a fine if your mortgage doesn't come through for the full amount. Then you will send all the necessary documents to your mortgage advisor so he or she can finalise your mortgage as soon as possible.
Need help with buying a house in The Netherlands?
If you need help when you're buying a house in The Netherlands, you can count on Frits for your mortgage advice. They truly will help you with every question and will make sure to find the very best mortgage for you. Promised.