Buying a home in the Netherlands may seem challenging for expats, but with the right steps, it’s achievable. Here are the essential steps to guide you.
1.Set your budget
Before starting your house search, it’s crucial to know what you can afford. In the Netherlands, mortgages are based on your income. You can usually borrow up to 100% of the property’s value, but extra costs – like notary fees, taxes and agent fees – need to be covered separately.
A free orientation meeting with a mortgage adviser can help you understand your borrowing capacity and set a realistic budget.
2. Find a real estate agent (makelaar)
Hiring a real estate agent, or makelaar, is a smart move, especially if you’re unfamiliar with the Dutch market. A good agent will help you find properties, negotiate prices and handle legal paperwork.
Choose an agent experienced with expats and knowledgeable about the area. They’ll provide insights into market conditions and help set realistic expectations.
2. Start house hunting
With your budget set and a makelaar in place, it’s time to look for a home. Websites like Funda.nl list many properties, but your agent may have access to listings that aren’t online.
Be ready to move quickly, as homes in the Netherlands often sell fast. Consider factors like location, access to public transport, schools and other local facilities to ensure the neighbourhood fits your needs.
4. Make an offer
When you find a home you like, your agent will help you decide on a competitive offer. Homes often sell for more than the asking price due to high demand, so negotiations may be necessary. Your agent will handle submitting the offer.
If the seller accepts your offer, you’re one step closer, but the process isn’t over yet.
5. Sign the purchase agreement
Once your offer is accepted, you’ll sign the purchase agreement (koopovereenkomst). This is usually prepared by the seller’s agent, though sometimes your own agent handles it. You typically have a three-day cooling-off period, during which you can still cancel the purchase. Including a financial clause is also an option, allowing you to cancel if your mortgage isn’t approved.
6. Finalize your mortgage
With the purchase agreement signed, you should finalize your mortgage with the help of your mortgage adviser, if you haven’t already. Make sure your lender is ready, so everything is set by the time you meet with the notary.
7. Transfer ownership
On the agreed completion date, you’ll meet at the notary’s office to sign the transfer deed and mortgage deed. Once the deed is signed and payment is made, the notary will register the property in your name. Congratulations, you are now the official owner of your new home!
Final thoughts
The home-buying process in the Netherlands can be challenging for expats, but with the right planning and expert advice, it can be smooth and rewarding. Following these steps will bring you closer to owning your dream home.
Written by Eline Hut and Peter Goudappel,
About Mortgage Affairs
www.aboutmortgageaffairs.nl