Tips for buying your first house.

It is a very exciting time, buying your first home. You have to comply with a lot of rules, bring your own money, present figures, and have multiple conversations with advisors. But besides having to do a lot of things, it’s also a very enjoyable time where you’re searching for your first dream home. Of course, you do this within the possibilities you have and explore what suits you or both of you, both in terms of practicality and feeling! To make this process as smooth as possible, we have listed a few tips for you, you will find them below.

Make sure to have a good mortgage advisor.

A good mortgage broker is golden and will find out for you what is and is not possible and approximately what you can spend. There’s nothing as frustrating as finding your dream home, making an offer, and then realizing it’s not financially feasible in the end. Especially in these times of housing scarcity. So, take our advice on this, we speak from experience, and engage Nobel Mortgages. They have the best mortgage advisors you can find, who truly go the extra mile for you! They will thoroughly investigate how much you can borrow for the purchase of your first house and what monthly expenses are involved. Also, discuss right away whether there might be a starter loan available and if you qualify for it. Good to know, the first appointment with Nobel Mortgages is always without obligation! Finally, look into the possibilities of tax-free gifting. Perhaps family members can and will help you financially.

Look into the additional costs.

It’s smart to put down on paper all additional costs such as transfer tax, owner’s settlement fees, land registry fees, mortgage broker fees and, of course, notary fees. These can often be (partially) included in the loan, but sometimes they also have to be paid out of pocket. Therefore, it’s good to know in advance that you have to pay the ‘buyer’s costs’ yourself, so you need to have this amount in your account. Buyer’s costs include, at the very least, transfer tax (2% of the purchase price) and notary fees. As the buyer, you get to choose the notary, so pay close attention to the price he or she charges.

Put your housing preferences on paper.

Based on your financial capabilities, you can identify for yourself what your needs are. For example, the number of rooms, living area, type of property, and neighborhood. Keep it realistic and look at the cost of houses in the area where you’d like to live. A house in the city is often more expensive than in rural areas, so compare prices and options to get an idea of the possibilities in the municipality where you’d like to live. Also, consider whether you’d prefer to buy an existing home or if you’re interested in a new-build home as your starter home. Get well advised on the pros and cons of both types of construction so you can determine what suits you best. With existing construction, you can often move into your house in the short term, but you’ll have to pay the buyer’s costs and might encounter existing defects. With new construction, the house is delivered freehold, but often comes with a lot of costs in terms of additional work.

Research the neighborhood.

Have you seen a beautiful house you would like to live in? Then don’t just look at the house, but especially at the neighborhood. Visit the neighborhood at different times and on different days. Cycling or walking through the neighborhood gives a different perspective. Take a seat on a bench and calmly observe the neighborhood. You can also ask local residents how they perceive living in the particular street or place.

Make sure to jot down your questions on paper before a viewing.

Viewing a home goes pretty fast, there are a lot of impressions and afterwards you think maybe if only I had asked more questions. In these times, you often have to make decisions quickly, and then you don’t have time to ask all sorts of questions afterwards. Therefore, make a list of questions and use it during the viewing to ask all your questions to the real estate agent. As a result, you can be almost certain that you won’t forget anything. And are you still running into things? Then update the list after each viewing; before you know it, you’ll be an expert at asking good and useful questions.

Choose a real estate agent who suits you.

A buying agent acts on behalf of the buyer and takes the entire buying process off their hands. The agent assesses the value of the property, handles the legal aspects, and evaluates the structural condition. The agent conducts negotiations with the selling agent and tries to secure the lowest possible price and the most favorable conditions for you as the buyer. The downside of a real estate agent is that it costs you extra money, which you might prefer to use for your new home. The advantage is that this agent can actually save you money in the end. By identifying issues, negotiating, and perhaps even finding a house that is not yet listed on the major websites. Do you want to know what a buyer’s agent will cost you? Then do some research because there are differences in the fees that agents charge. Some charge a percentage of the purchase price, while others have a fixed fee. Either way go talk to a number of realtors, ask about terms and costs and then see if one fits you and your budget.

Make sure someone can review your purchase agreement.

Once your offer is accepted, you’ll soon be at the notary to sign the first deed of sale. That document is about twenty pages long with a lot of legal language. You really need to have a legally knowledgeable person look at it. Many purchase agreements still contain errors because notaries are not infallible either. Since you’re likely making the most expensive purchase of your life, it’s wise to carefully read the contract before signing it. This will prevent a lot of problems later.

Nobel Mortgages

We mentioned at point 1 in this blog that finding a good mortgage broker is the single most important step. As mentioned earlier, Nobel Mortgages is that reliable advisor! Do you also want an advisor who looks outside the box and really analyzes all the possibilities for you? Then contact our experienced and enthusiastic team soon. We are available to you 24 hours a day with the utmost commitment and sincere attention. An e-mail is a snap to info@nobelhypotheken.nl or call or app to 06-54770122.