7 February 2024
Mistakes to avoid when buying a home in the Netherlands
Egle Kemezyte
Growth Marketer

Exploring the common mistakes made by first-time buyers, we offer insights to help you navigate the pitfalls and make informed decisions when purchasing a property.

Not knowing how much you can afford

Before even looking for a house, knowing how much you can borrow in the Netherlands is the first thing. Then, regularly consult your advisor to stay updated on changing interest rates. You may need a clear understanding of affordability to avoid spending beyond your budget. This approach helps you make informed decisions and avoid unnecessary financial stress.

Working without a real estate agent

Many new home buyers skip working with a buying agent or expert, which is a mistake. These professionals know the local market well and can guide you. Besides, most sellers prefer working with agents for a smoother transaction. A professional real estate agent can help you avoid buying a property that's too expensive or not what you want.

This is especially important when dealing with sellers' agents at open houses, as they usually prioritize the seller's interests. Your agent will focus on looking out for your best interests, advising you, and negotiating to get a property that fits your needs and budget.

To avoid surprises and extra costs down the road, it's crucial to have a home inspection. A qualified inspector can uncover issues like structural problems or hidden damage, giving you the information needed to decide whether to go ahead with the purchase or negotiate repairs.

Home inspections are vital for preventing future problems in the house. Even in competitive markets, where some buyers might skip inspections, it's an important step not to skip. These inspections protect both buyers and lenders by identifying serious issues with the home's structure or key systems. After the inspection, you receive a report detailing any problems, allowing you to discuss repairs or potentially lower the purchase price with the seller.

Overlook the extra financial costs

Neglecting extra costs is common. Besides the purchase price, there is a budget for taxes, maintenance, and potential renovations to grasp your financial commitment. It is also crucial to look at a property's resale value- opting for a property with broad appeal for a strong resale value will ensure you an investment with promising potential. This flexibility is crucial when planning a long-term stay or considering future sales. Equip yourself with negotiation skills or enlist an agent to secure favourable terms and pricing for your new home, contributing to a successful and informed homebuying journey.

Make a quick decision

Making big decisions, especially regarding property, requires careful consideration. Visit the property multiple times and inspect it thoroughly to find and address any issues. Despite numerous options in the housing market, take your time. Think and evaluate each choice before deciding.

Not being aware of  closing fees

Buyers may need to pay more attention to buying fees, including transfer tax, notary fees, insurance, and bank guarantees. This oversight can lead to financial surprises at the final stages of the homebuying process. Use our closing fee calculator to know your closing fees accurately.

Underestimate the importance of bidding

Underestimating the significance of the bidding process is a critical mistake in the competitive Dutch real estate market. If you don't approach bidding strategically, you may miss out on a property they desire or pay more than necessary.  We advise you to work with a real estate agent. They possess in-depth knowledge of the Dutch real estate market, covering housing prices, building conditions, and neighbourhoods. Collaborating with an agent increases your chances of winning a bid.

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Lisa Grondsma
Financial Specialist
Robin Uijtdehaage
Client Director & Financial Specialist
Sezer Yilmaz
Founder & Financial Specialist
Egle Kemezyte
Growth Marketer