Buying your first house
Buying smart and carefree
Buying a house is one of the biggest and most important purchases you'll make in your life. However, the process can be stressful and complex, especially if you're not well-prepared. At SlimBieden, we're here to help make the home-buying process as smooth and stress-free as possible. On this page we discuss key points to keep in mind when purchasing a house.​​
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Frequent mistakes
Going to high or too low
In a competitive market, a bid that is too low is often dismissed right away. Many buyers underestimate the importance of a well-considered offer, assuming that starting low might be a beneficial strategy. However, it’s crucial to take into account the market value and the seller's position. An offer aligned with the market and the seller's expectations increases your chances of being taken seriously and prevents you from being excluded by bidding too low.
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On the other hand, you also don't want to bid too high. Often, out of fear of losing their dream home, buyers bid above the asking price. The graph shows how your monthly mortgage payments increase depending on the interest rate and the percentage by which you overbid. With higher interest rates, monthly costs rise more quickly, especially with a significant overbid. This highlights the importance of adopting a bidding strategy that considers both the market and your long-term financial obligations.
Monthly mortgage payments
In dit voorbeeld zie je een huis met een waarde van €550,000 en een hypotheek met een looptijd van 30 jaar. De lijnen geven rentes aan van 3,38%, 3,85% en 4,35%.
Not accounting for extra costs
"Kosten koper" (k.k.) zijn de extra kosten die je als koper bovenop de aankoopprijs van een woning betaalt. Deze omvatten meer dan alleen de koopprijs en zijn daarom van groot belang om in je budget mee te nemen. De voornaamste kosten binnen "kosten koper" zijn de overdrachtsbelasting en notariskosten voor de leveringsakte.
Tip
In 2024 ben je als starter vrijgesteld van overdrachtsbelasting op een woning tot € 510.000, mits je tussen de 18 en 35 jaar oud bent.
Afhankelijk van jouw persoonlijke situatie en wensen kunnen er nog meer kosten bij komen. Denk bijvoorbeeld aan notariskosten voor een hypotheekakte als je een hypotheek afsluit. Verder zijn er vaak kosten voor een taxatie en soms voor een bouwkundige keuring, vooral als je zeker wilt weten dat de woning in goede staat is. Veel kopers maken ook kosten voor advies van een hypotheekadviseur en bemiddelingskosten of courtage voor een aankoopmakelaar. Het is verstandig om deze "kosten koper" goed door te nemen, aangezien ze gemiddeld zo’n 5 tot 6% van de koopprijs kunnen bedragen. Door vooraf inzicht te krijgen in deze extra uitgaven, kom je niet voor verrassingen te staan en weet je precies welk bedrag je nodig hebt om jouw droomhuis te kunnen kopen.
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In the table, you can see an example of how additional costs associated with purchasing a home can add up, depending on your specific situation. Notary fees and real estate agent fees, for instance, can vary significantly by region. A structural inspection can also represent a considerable expense, especially for older homes. For this property, valued at €550,000, the extra costs range between €8,800 and €29,500. This illustrates the importance of identifying which costs apply to your situation in advance, so you can make a well-prepared offer and avoid unexpected surprises.
Letting emotions get the best of you
When purchasing a home, emotions can run high, especially if you believe you've found your dream house. This can lead to hasty decisions, such as offering too high a bid in hopes of securing the property or accepting terms that are not in your favor. These rushed decisions can later result in regret, particularly if you realize you paid more than necessary.
To avoid this, it’s important to stay rational and base decisions on facts. One way to achieve this is by using online tools that leverage data and algorithms to provide an accurate estimate of the property’s value. This offers you an objective view of what the home is truly worth and helps you make a well-informed offer.
By focusing on facts and figures, you can avoid emotional pitfalls and ensure that you don’t make impulsive choices. This way, you not only find your dream home but also make a financially responsible purchase.
Smart stragegies
Know your finances
It is essential to have a clear understanding of your financial limits before making an offer on a home. Ensure that you know exactly how much you can borrow and what your own financial contribution is. While it may be tempting to make a high offer once you've found your dream home, it’s crucial to stay within your pre-set budget. Overbidding can lead to high monthly payments and financial strain. Therefore, set a maximum bid in advance and stick to it to avoid impulsive and risky decisions.
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At SlimBieden, we collaborate with VIISI Hypotheken, a specialist in mortgage advice, to help you gain a clear insight into your financial possibilities. This way, you know exactly how much you can borrow and what costs to expect, allowing you to make a confident and well-informed offer.
Study the market
For a strong bidding strategy, it is important to conduct thorough market research first. Analyzing recent sale prices of similar homes is a helpful way to determine a realistic offer. In some neighborhoods, asking prices may be higher than market values, increasing the risk of overbidding.
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Economic factors such as mortgage interest rates and inflation also play a significant role in shaping your bidding strategy. Understanding these factors and incorporating them into your offer improves your chances of making a successful purchase without taking on unnecessary financial risks. Want to learn more about the factors that influence your home's valuation? Check out our market analysis page for detailed insights.
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Resolutive conditions
Including contingencies in your offer is a smart way to protect yourself against unexpected risks. Two important conditions that are often part of an offer are the financing
contingency and the structural inspection contingency.
The financing contingency means that your offer will only proceed if you secure a mortgage. If the lender ultimately decides not to grant the loan, you can back out of the purchase without any financial penalties. This is helpful if you are uncertain whether the financing will be approved.
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The structural inspection contingency protects you against hidden defects. If the inspection reveals serious issues, such as foundation problems or costly repairs, you can withdraw your offer or renegotiate without being tied to the purchase.
Financing contingency
Structural inspection contingency
Almost there
List it all out
Before making an offer, it's crucial to have a clear understanding of your financial limits. Calculate your maximum mortgage and ensure you have a buffer for unexpected costs. A pre-approved mortgage offer also makes your bid more appealing to the seller, increasing your chances of success.
When purchasing an older property, it's wise to conduct a structural inspection to uncover any hidden defects. Additionally, conducting thorough market research on comparable homes in the area is important for determining a realistic and strategic offer. Keep in mind economic factors like interest rates, the business cycle, and inflation, as they can affect both your bid and the long-term affordability of the property. Set your maximum bid and bidding strategy in advance to avoid impulsive decisions.
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Finally, review legal aspects such as ground lease or right of way, and protect yourself by including contingencies in your offer.
By following these steps, you will be well-prepared for negotiations and increase your chances of success.
