Buying a home is a big deal for a lot of people. Here are our top 5 tips on buying a home in the Netherlands
- Talk money first.Before you begin, find out what you can borrow and what the nuances are in mortgages. Besides normal interest rates, think about things like pay-off penalties and interest deductions when you’ve paid off 10-15-20% of your mortgage. It’s one of the biggest loans you’ll probably ever get so due diligence pays off when you can save 1% on 400K. Talk to your bank and talk to a mortgage advisor. Intro talks are free, so don’t hesitate.
- Set up your Funda mailing Funda is the biggest platform when you’re looking to buy a home, and the easiest way to get the newest properties is by setting up mailing. Refine your search by highlighting the areas, size, type etc. Save and get the properties sent to you on a daily basis.
- Preparation is half the dealThere’s always two parties in a sale. And part of getting your deal accepted is making sure you take away all possible risks that the other party might not accept your offer. Besides your offered price - which is the most obvious one - the conditions of your offer matter. Think about things like speed of process, move in date, taking over furniture etc. The only way to make sure your offer is a great fit, is to find out as much as possible about the seller. Who they are, why they’re selling, when they’re moving and so much more.
- Check kadasterdata.nl for sold properties This is a gem of a tip. Find out more about what properties in the neighbourhood have sold for on www.kadasterdata.nl. The kadaster is the land registry which saves data from purchases, owners etc and the data from this platform will give you a great idea of the market value of your property.
- Pick a good notary The notary will draft the legal documents (transfer + mortgage deed) and guide the formal process. If you’re buying a home in Amsterdam, the notary will set up the purchase contract. If you’re buying outside of the capital the selling agent will set up the purchase contract. Making sure you have a good notary that helps you understand what your signing for is key to not being surprised 6 months to 5 years after move in. Bear in mind that the costs for the mortgage deed are tax deductible so it’s less expensive than it looks. See the notary as your legal advisor as well. With a big transaction like this, you want to make sure you have trusted advisors around you.