Buying a home in a new country can feel overwhelming, and it can be difficult to know where to begin. So here’s a quick guide to the main steps in the process and how long everything takes.

The first step is determining your budget and finding out how much you can borrow. You can start with an online calculation tool for a rough estimate, but for a precise calculation it’s best to speak with a mortgage adviser.

Your income, job contract, residence status and future financial plans all play a role. An adviser can help you define your price range and give you a clearer idea of your monthly costs.

“Keep in mind there are extra costs when buying a home — like notary fees, the appraisal (taxatie), mortgage arrangement, and possibly property transfer tax,” says ABN AMRO mortgage adviser Steven Goedemans in the video below. “These are typically around 3% to 5% of the price of your home.”

Finding a home

Once you’ve established how much you can borrow, you can start the process of looking. Use platforms like Funda, or work with a real estate agent — a “makelaar” — who can help you find good options, arrange viewings and help negotiate on price.

Once you’ve found the perfect place and your offer has been accepted, you need to sign a preliminary purchase contract. There are two important tips about this, says Steven. “Include a ‘finance clause’, which protects you in case your mortgage is not approved. And if you are buying an older home, include the condition that the sale will only go through if the property passes a structural inspection.”

Once that has been done, it is time to arrange your mortgage, which will usually take four to five weeks.

Finalise your mortgage

To begin, you’ll need to gather some personal, financial and property-related documents. Your adviser will let you know exactly what’s needed and help you get everything in order. Once that has been done, you can finalise your mortgage set-up with your adviser.

They’ll discuss all the options – mortgage type, loan term, interest rate, and whether the interest rate is fixed or variable – with you. After your application has been submitted, the bank will review all your details. If everything checks out, you’ll receive a formal mortgage offer.

This offer is a 100% guarantee that the mortgage is provided, so once you accept it, your financing is officially secure.

On the official transfer date, you’ll visit a notary to sign two key documents – the deed of transfer, which officially makes you the owner, and the mortgage deed, which finalises the loan. Once everything is signed, you’ll receive the keys. You’re now the proud owner of a home in the Netherlands.

If you are considering buying a home, feel free to reach out to Steven or one of his ABN AMRO colleagues for a free consultation. Find out more