Step-by-step Guide to Buying Your Own Home
Buying a home is a big step and comes with many considerations. To make the process clear, we’ve created a step-by-step guide to help you navigate from your initial orientation to receiving the keys. Follow these eight steps to prepare for buying your dream home.
1. Assess your finances
The first step is determining your budget. Calculate how much you can borrow through a mortgage and decide how much of your own savings you can and want to contribute. Also consider the buyer’s costs and other additional expenses. A financial advisor or mortgage consultant can help you understand your financial options. For instance, take a look at Viisi for advice.
2. Search for a suitable home
Now that you know your budget, start your search for a property. Create a wish list with important criteria, such as location, type of home, number of bedrooms, and amenities. Use platforms like Funda or hire a buying agent to streamline your search. Many platforms allow you to set up alerts for properties that match your criteria.
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3. Visit the property
During viewings, assess the property’s condition, layout, and location. Take photos and ask questions about maintenance, the neighborhood, and any potential issues. Consider scheduling a second viewing to notice details you may have missed the first time. It’s always a good idea to bring someone with you, as two pairs of eyes see more than one.
4. Conduct additional research
In addition to viewings, extra research may be needed. Consider a structural survey to identify potential defects and a valuation to establish the market value of the property. Check local zoning plans to avoid surprises. Before making an offer, it’s a good idea to meet the neighbors. This can give you insight into the neighborhood and additional information about the house. Neighbors often know details that the agent might not have mentioned. A friendly chat can help you get a more complete picture of your potential new home.
5. Negotiate and make an offer
When you find a home you want to buy, it’s time to make an offer. Decide on an opening bid based on your budget and the market value of the property. A buying agent can assist with choosing the right strategy and determining any contingencies, such as a financing clause. To find the perfect bid, scroll down and enter the property details.
6. Sign the purchase agreement
If your offer is accepted, you’ll move on to signing the preliminary purchase agreement. This document includes the price, contingencies, and transfer date. After signing, you have three days to withdraw from the purchase without penalty.
7. Secure financing
With a signed purchase agreement, you can formally apply for a mortgage. Gather all required documents, such as payslips, tax returns, and a valuation report. A mortgage advisor can help you choose the best mortgage type and terms.
​8. Transfer ownership at the notary
Once everything is arranged, the transfer takes place at the notary’s office. You’ll receive the deed of transfer and the financial statement beforehand—review these carefully. On the day of transfer, inspect the property one final time, pay the purchase amount through the notary, and sign the deed of transfer. After this, you’re officially the owner of your new home, and the transaction is registered in the land registry.
