Buying a Home in the Netherlands
Buying a home in the Netherlands can be a daunting task. To make things a bit clearer for those wishing to enter the housing market, I have outlined the basic steps needed for a successful purchase.
1. Financial Capability
Before starting the house hunting process, I always suggest to my clients that they approach either a mortgage consultant or a bank to check their financial capability. It is always helpful to know;
- What amount the bank will loan you for a mortgage.
- What interest rate you will most likely get.
- What money you will need for costs.
- What money you need for the over bidding process.
I can recommend Expat mortgages who are excellent and leaders in their field. They offer a free intake meeting where they will be able to advise you of your capabilities.
2. Working with an Aankoop Makelaar
Finding someone who is as passionate about finding you a home as you are, is key in this process. They will be with your every step of the way, and will be the go-to person for every point in this process. Find someone who understands you, someone you understand especially when they are speaking to you, someone who is willing to do the work and not just take your money, someone who knows expats and understands the challenges they face when entering the housing market; perhaps someone who has experience as an expat.
3. Researching Areas
Finding the right area to buy a house in is one of the most important decisions you can make in this entire process. Things to consider are;
- Schools.
- Amenities; sports centres, gyms, shops.
- Expat community.
- Distance to work and commuting times.
- Bus stop and train station distances and availability.
I always advise my clients to take time over the weekend, visit an area they are interested in living in and spend some time there. Go for lunch, greet people, see how people react towards you. These are all important things to note, because living in a community that is friendly towards expats makes life so much easier, by being able to integrate into a neighbourhood, a community and making friends.
4. Searching for a House
Starting the search process on websites like Funda, knowing what you want in a home and what you don’t. Not every home will tick all the boxes and you have to decide what you can live with and what you can’t.
5. Bidding Process
You have found your dream home now comes the time to bid! Having a Buying Agent that can pull reports of past sales, look at the valuation of the home and give you the best bidding advise is very helpful when making a bid. Your agent will know how to submit a strong bid, what conditions to put in that protect your interests, and what makes for an attractive bid that selling agents will consider. Not all bids are considered and how a bid is worded, what conditions are included and the right financial offer are all key ingredients to winning a bid.
6. Winning the Bid
You won the bid, now what? You need to arrange the technical inspection and valuation if these were part of your bid conditions. Usually this is all handled by your agent. They will also negotiate the contract for you and help with the signing thereof. All housing sales contracts in the Netherlands are in Dutch, as required by law.
7. Notaries
Your agent will make the necessary introduction to the notary and setup the final appointment for transfer. The notaries will then help with the transfer of the property. Your agent will advise the notaries you will be needing a translator (as is legally required in the Netherlands, if you are not native Dutch speaking).
8. Day of Transfer
You and your agent will inspect the house, checking that everything is in working order and in the condition as stated in the technical inspection, this includes improvements that have been made by mutual agreement. If there are any issues, your agent will remain behind to ensure these issues are fixed and will advise the notary of any issues. If you are happy with the condition of the property, then you will go to the notary to sign the documents and receive your keys. You are now the proud owner of your own piece of Dutch heaven.
