BUYING A HOUSE IN THE HAGUE AND HOW TO AVOID ROOKIE MISTAKES

The process of buying your first home in The Hague can be daunting. However, with sufficient research and preparation you can avoid these rookie mistakes that first-time buyers tend to make. Buying your first house in The Hague or its’ surroundings is a huge investment, probably the biggest expensive you will ever do in your life – therefore it’s important to make an informed decision. The home-buying process is a straightforward one, provided all the documentation is understood and completed, as it is in the Dutch language and that you have hired an experienced real estate agent. You should always engage a trusted real estate agent to vet the transaction – the money spent will be well worth it. And on top of it all, they might prevent you from making a capital mistake when buying your home.?

Prioritising property over locality

Most homebuyer often prioritise a house over the neighbourhood where it is located. Consumers generally get their heart fixated on a beautiful home that overlooks the neighbourhood. According to Karola Grünenbaum “First time homebuyers often settle on the first option they see or clamour for their ‘dream home’ as soon as it hits the market. Determining the home’s value is critical”.?

While purchasing a beautiful home may be the focus of every aspiring homebuyer, it’s good idea to take into consideration the location and surroundings as well. Karola advises “ Ensure that the location offers good connectivity and infrastructure with public transportation, schools, shopping, hospitals, etc.?

Allocating a budget

When in search of your dream home, one must have a budget in mind. Home loans that force the buyer to stay locked in for long mortgage periods with seemingly attractive offers throw them off their path and end up costing them much more than what they had signed up for. Team Stark Real Estate advises to stick to your budget that is financially comfortable and one that fulfils their aspirations and needs. After determining the cost of the house, speak to mortgage broker and set a budget. She or he might be able to tell you also all additional costs, tax deductibles and about the 30% ruling for expats coming to The Hague.?

Not factoring in miscellaneous costs

Not taking into consideration miscellaneous costs can prove to be expensive in the long run. When you are buying a new home in The Hague part of the documents you receive are also the monthly utility invoices from the previous owner, which help you to know what to expect when moving in. ?Apart from paying your monthly mortgage payments, there might be some ongoing costs associated with owning a property such as maintenance fees, property taxes and renovation charges in case the new home needs a makeover or repair work. This should be factored into the monthly out-goings. A structural surveyor or contractor can help you with an estimate of the approximate costs.?

Before and at Civil Law Notary

Did you know that the selling real estate agent is responsible for drafting the preliminary deed of transfer? After approval, this document is signed first by the seller and then the buyer may sign. The buyer has then a 3-day period of reconsideration. Within that period the buyer can cancel the contract without giving any reasons. After that period, the timer starts, and the buyer must be able to get a mortgage. If not, she or he will need to have 2 rejections by a moneylender. If a buyer fails to observe the time limit set in the preliminary deed, that might be an expensive pitfall, one to be avoided at any time. It might end up costing the buyer 10% of the purchase price.?

In The Hague we have the transfer of deed at a civil law notary. Your dedicated real estate agent will help you with your choice. We only use one and the same notary who is working for both, the buyer and the seller. Although the costs of purchase are usually covered by the buyer only and is chosen by the buyer. There are sometimes exceptions to the rule, when the seller determines the notary, but is still paid for by the buyer. The preliminary deed of transfer will be converted into a permanent deed of transfer which the buyer will sign and will be deposited in the ground book by the notary’s office.?

In conclusion, to avoid rookie mistakes, be aware that the process of buying a house in The Hague can be daunting. You should always engage a trusted real estate agent to protect you from you.?

Always Remember …?

A real estate deal is the best deal when everyone is happy! At Stark Real Estate, we're committed to achieving that balance. Whether in person or via Zoom, book a consultation with us. We're here to answer your questions and guide you seamlessly through your real estate journey. Let's find your perfect deal together.

Karola Grünenbaum,?

director Stark Real Estate ?

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https://www.starkrealestate.nl

https://www.thehaguehousesandhappiness.com?

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