Buying your first home, where do you start?

You're looking for your first home and information comes from every direction. Friends with advice, videos online, calculators on websites. Before you know it, you're spending more time figuring out mortgage types than looking at houses.

This guide gives you a broad overview of the key choices, costs and steps. Enough to get a realistic picture and take the next step with confidence. For the translation to your personal situation, with all the details that come with it, we're here for you.

Three choices you'll make

When taking out a mortgage, you'll face a number of choices along the way. Here's a short introduction so you know what's coming.

Repayment type

Determines how you repay the loan: in equal monthly instalments, in decreasing instalments, or (partly) only at the end of the term. This directly affects your monthly costs and how much interest you pay in total.

Fixed-rate period

The period during which your interest rate stays the same. Shorter means more flexibility, longer means more certainty. What suits you depends on how much risk feels comfortable.

Loan term

The number of years over which you repay the mortgage, usually a maximum of thirty years. A shorter term means higher monthly payments, but you finish sooner and pay less interest overall.

None of these choices stand on their own: they're connected to each other and to your personal situation.

What can you borrow, what does it really cost

Two questions on every first-time buyer's mind. Here's the answer in broad strokes; the exact figures depend on your situation.

What determines your borrowing capacity

• Your (combined) gross annual income
• Any existing loans or financial obligations
• The current mortgage interest rate
• The value of the property you have in mind

Your maximum borrowing capacity isn't automatically the amount we'll advise. Just as important is what you yourself want and can afford to spend on housing each month.

That also applies with an eye on other goals, such as savings or starting a family. We'll go through this in detail during the advice conversation.

Costs on top of the price

• Transfer tax
• Notary fees
• Valuation fees
• Advisory fees
• Optional NHG (Dutch National Mortgage Guarantee)
• Optional structural survey

On top of your mortgage, budget for a few percent of the purchase price in additional costs. The exact amount depends on the price, a possible National Mortgage Guarantee and the first-time buyer exemption. We're happy to work through this with you.

Good to know

As a first-time buyer under 35, you can, subject to conditions, make one-time use of the transfer tax exemption for a home up to a certain value. A gift from your parents can also be tax-free under certain conditions. We'll check together whether this applies to you.

The process in a nutshell

1. Orientation and borrowing capacity. Together we work out what's realistic to borrow, so you can search with a clear focus.
2. Making an offer. You find a home and make an offer. We help you think through a realistic offer and the right conditions.
3. Provisional purchase contract. Once your offer is accepted, the purchase agreement follows, including the cooling-off period and financing contingency. We go through this together, so it's clear exactly what you're signing.
4. Valuation and survey. The property is valued and, if needed, structurally surveyed, through our trusted partners.
5. Mortgage application. We arrange the application with the lender and keep you updated at every step.
6. At the notary. The mortgage deed and transfer deed are signed, and the keys are yours.

What we do for you

• Advise and arrange your mortgage and insurance
• Help you think through your offer and the property's value
• Discuss risks, and cover them if needed for death, disability or unemployment
• Fully coordinate with the notary, valuer and structural surveyor
• Short lines of contact: reachable via WhatsApp, phone and email
• Personal contact, at our office, at your home or online

Common mistakes first-time buyers make

1. Looking only at the interest rate. Conditions such as penalty-free repayment often weigh just as heavily.
2. Starting on the financing too late. Making an offer without knowing your borrowing capacity can lead to disappointment.
3. Underestimating additional costs. Buyer's costs or a renovation: set aside a budget for them.
4. Forgetting the risks. Think about unemployment, disability or death.

Ready to talk further?

Every situation is different, and the details often make the difference. Schedule a no-obligation introductory meeting, or ask your question in advance via WhatsApp, phone or email.