Buying a house in the Netherlands
Expats are free to buy houses in the Netherlands as much as they like. There are many advantages to buying your own property. It allows you to put down roots, creating stability and security in your home environment. You will have control over your own home, whether you want pets, how you want to decorate etc. Most importantly it is generally cheaper than renting. The interest rate on mortgages is at an all-time low and there are tax benefits to buying as opposed to renting. Buying an apartment in Amsterdam is always a good investment. Before you start looking for Amsterdam houses for sale there are a few things to consider…
The first thing you need to do is find out how much you are entitled to borrow. There are many banks and mortgage providers out there including specialist expat mortgage providers. Mortgage advisors (hypotheek adviseur) can give independent advice and find the best deal for you. Mortgages are usually available if you have lived in the Netherlands for more than 5 years and have a permanent contract. If you have a sizeable deposit some banks will waive the 5 years qualification. Mortgages for non-permanent residents are likely to be a maximum of 90% of the property value. You can usually borrow up to 5 times your salary depending on your financial situation. You will need to provide proof of income and a statement from your employer stating the terms of your contract. If you have the 30% ruling this can help.
The Search for a house in the Netherlands
First, you need to decide where you want to live. It might be an idea to ask colleagues for guidance. Amsterdam houses for sale are the most expensive in Holland. Many people decide to live further out of town, where you get more for your money. An apartment or a house with a garden? How many bedrooms? Don’t forget the parking situation, as many Amsterdam houses for sale will not include a parking spot. You could do a search online using a portal such as funda.nl or housingxl.com. You could also employ an estate agent to find a property to your requirements. This will take a lot of the stress away but, bear in mind there will be a fee. Visit as many properties as you can. Tour the area and get a feel for the neighbourhood.
The Costs of buying a house in the Netherlands
House prices are escalating wildly in the Netherlands, especially in big cities such as Amsterdam and Eindhoven. However, due to the low-interest rates it is still a good time to buy apartments in Amsterdam. There are various costs involved in buying a house. As well as your estate agent fees, you will need to pay the mortgage advisor, the notaris (contract lawyer) and for a valuation. You will also need to pay a transfer tax of 2% of the purchase price. Expect the total costs to be around 6% of the purchase price.
Depending on your mortgage type, you may be entitled to tax relief which will drastically lower your monthly outgoings.
A great investment for your future
Whether you’ve just arrived or you’ve been here a while, buying a house in the Netherlands is a great investment for your future. Mundialz understands the relocation process and we’re here to offer you the support you need to settle in and make yourself at home in the Netherlands.