Everything you need to know about buying a house in the Netherlands
Buying a house in the Netherlands may seem like a complicated task, especially if you are new to the country. However, there are clear steps you can follow to simplify the process. The first step is to determine your budget and find out how much you can borrow. You can start by using online calculators to get an approximate estimate, but for an accurate figure, it is best to speak to a mortgage advisor. Factors that affect your borrowing capacity include your income, the type of your employment contract, your housing situation, and your future financial plans.
Real estate advisor at ABN AMRO, Steven Koudijmans, explains that there are additional costs when buying a home, such as notary fees, appraisal costs, mortgage arrangements, and possibly property transfer tax. These costs typically range from 3% to 5% of the home's price. After determining your financial capacity, the search for a home begins. You can use platforms like Funda, or collaborate with a real estate agent (makelaar) to help you find suitable options, arrange visits to homes, and negotiate the price.
When you find the right home and your offer is accepted, a preliminary purchase contract is signed. Stephen recommends adding a "financing clause" to protect you in case the mortgage is not approved. If you are buying an older home, it is important to add a condition for passing the structural inspection of the building. After signing the contract, the mortgage arrangement process begins, which usually takes four to five weeks. You will need to gather personal and financial documents related to the property, and the advisor will provide you with a complete list of what is required and help you prepare it.
After that, discuss with the advisor all mortgage options such as the type of loan, repayment period, interest rate, and whether the interest is fixed or variable. After submitting the application, the bank reviews all the details, and if everything is in order, you will receive a formal mortgage offer, which serves as a final guarantee for obtaining financing.
On the official delivery day, you visit the notary to sign two essential documents: the deed of transfer of ownership that makes you the official owner, and the mortgage document that proves the loan. After signing, you receive the keys and officially become a homeowner in the Netherlands.