The housing market in and around Amsterdam can be pretty complex but more and more international workers see owning their own home as the best answer to ever rising rents. So if you’ve decided to take the plunge, how to buy a house?
Buying your own home in a foreign country might seem daunting, but it is perfectly possible – as long as you get proper advice. Currently in Amsterdam and Amstelveen, properties are selling quickly and prices have risen to record levels over the past year.
Nevertheless, there are still great buys to be had and a tuned-in estate agent will help you make the most of your money. There are plenty of legal ins and outs to deal with as well, so you will need to get good legal advice from a specialist notary too.
On Sunday, September 10, a special event is being held at the Vondel church close to the park to help expats find their way around the housing maze.
‘The event will guide you through the entire home buying process, including the roles played by the real estate agent, the mortgage advisor, the notary and the bank,’ says organiser Monique Burgemeester. ‘You can find out about getting a mortgage in the Netherlands, get interior designer advice from a pro or even talk to a builder about renovations.’
‘It’s hard to buy a house in Amsterdam because there is so little owner-occupied property,’ says real estate agency Barry Burgemeester. ‘Just 30% of the city’s total property stock is privately owned. So finding and buying that house can be quite a challenge. That’s why it’s good to talk to someone who really understands the market.’
Of course, before you really get stuck into house hunting you need to find out how much you can borrow. ‘If you find a nice place it is crucial that you can act quickly and know your financial limits,’ says Henk Janssen of Expat Mortgages.
‘You need to know exactly what you can afford, so that you can make a bid and start negotiating. But you also need to know about the risks associated with a mortgage. We work with most banks and insurance companies so should be able to outline all the options open to you.’
Once you’ve found your ideal home and secured a mortgage, it’s time to think about the paperwork. And that is where the notary – a type of lawyer who deals with housing contracts, wills and other family law issues – comes in.
‘All the official ‘moves’ for buying a home take place in the presence of a notary,’ says Dirk Kasper, of Kasper Notariaat, which specialises in helping internationals deal with the legal side of home ownerships. He too will be on hand to answer questions at the Amsterdam meeting.
In short, there is a lot to think about. If you’d like to find out more, or get answers to some of your questions, sign up for Sunday’s session and talk to the experts face to face. And if you’ve got the kids in tow, there will be a free nanny service to keep them entertained as well.