Buying a new property in the Netherlands
is a great endeavor. Not only will you get your own place in this beautiful country, but you've also made a great investment. Even now, the country's real estate industry is rife with interested buyers left and right, many of which come from different countries. And you ought to be one of them! Though the process of buying real estate in the Netherlands isn't easy, it's certainly not too difficult to handle. All you gotta do is follow some tips like preparing a big budget, doing proper research, and hiring a purchasing agent. That'll ensure that everything goes smoothly!
Prepare A Big Budget
It goes without saying that when you plan to buy real estate, be it an apartment or a house in the Netherlands, you'll need a lot of money. The property value alone will cost thousands, if not millions in big cities like Amsterdam, Rotterdam, and the like. But there are a lot more costs than that. There are taxes
, fees, and charges that you need to pay to purchase the property legally. They include the transfer tax, notary fees, land registration fees, your real estate agent's commission, the valuation fee, and more. Do you think your current budget can cover all of that?
Use Alternative Methods to Find A Property
More often than not, your best bet to find the right property in the Netherlands for sale is to go on a property listing website. Since practically everything is on the internet nowadays, prime real estate is no different. This, however, makes the competition cut-throat. When you see a great property, it's more than likely that there are other buyers who are interested in it. So wouldn't it be better if you find a great place that you can secure as soon as you can? To do this, consider other alternatives in finding a property in the Netherlands. You can search for them in the newspaper, ask around, or explore the are yourself!
Get To Know Your Real Estate Agent
Though it's not a legal requirement, it'll be easier for you to buy real estate in the Netherlands if you hire a real estate agent. They have more knowledge about the area you're looking it, are more familiar with the Dutch laws that might affect your purchase, and can offer up helpful advice. You might find that there are more pros than cons to hiring a real estate agent
. But with that said, it's important to hire one that's trustworthy. So before you shake their hands, get to know them first. Look into their experience, how many homes they've bought and sold, and more!
Do Proper Research
It also goes without saying that you ought to do proper research before you buy an apartment or a house in the Netherlands. Let's say you plan on relocating to Amsterdam
and you're looking for a place to call home here. You'd do well to learn about the Dutch real estate market, the different neighborhoods
in the city, and more before you settle on a property. If you're not careful, you might end up on the short end of the deal. Or worse! You could fall victim to a nasty real estate scam and lose all your money!
Hire A Purchasing Agent
More than just a real estate agent, you might want to look into hiring a purchasing agent too! You ought to know that the Netherlands's housing market can get pretty tumultuous at times. Prices can skyrocket before you know it! So it'd be better if you had some valuable info beforehand, right? That's where the purchasing agent comes in! They have access to properties in the country that aren't listed on property portals and are yet to be advertised. Intel from the purchasing agent might just help you snatch one before its price goes sky high!
Focus on The Details
Viewing the property before signing any contract is common in the Netherlands. Though it's not necessarily mandatory, it's your right to look at the home before officially purchasing it. And when you get that opportunity, make sure to focus on the details. From the quality of the taps to how well the light switches work, it's the little things that make all the difference. And more often than not, they're also overlooked during property surveys. What if you bought the property and only discovered afterward that it has a lot of problems that need fixing?
Sign The Preliminary Purchase Contract ASAP
Once you've settled on a property in the Netherlands, it's time to sign the preliminary purchase contract. It's the most important document in the entire transaction! Once you sign it, you're basically promising that you're planning to buy the property and take it off of the seller's hands. On their end, the contract legally binds them to the purchase. They'll have no choice but to sell the place to you and only you. Or else, they risk facing legal and financial consequences. Moreover, after you've signed the contract, you'll get a cooling period that allows you to think more about the purchase.
Think Carefully During The Cooling Off Period
The aforementioned cooling period takes place within 72 hours after signing the preliminary contract. And it's an important part of the process. If you're having second thoughts about spending all your money on this specific apartment, townhouse, or house in the Netherlands, this cooling period gives you the time you need to carefully reach a final decision. Within this time, you still have a chance to back out of the purchase if you eventually decide to. And you won't face any legal penalties for it too! It's only after the 72-hour cooling period that you'll be legally obliged to continue the transaction.
Buying a new property in the Netherlands is no easy feat. There are lots of things to do. Fortunately, if you follow a few simple tips on how to complete the process, you're sure to get your hands on your new home in no time!