10 tips for buying your first home

Buying your first home is one of the most exciting and at the same time daunting moments of your life. There is a lot coming your way: mortgages, legal documents, structural surveys and negotiations. With the right preparation and knowledge you can navigate this process with confidence.

Before scheduling a single viewing it is essential to know what you can spend. Make an appointment with a mortgage adviser to calculate your maximum mortgage. Take into account:

• Your gross annual income (and your partner's, if applicable)
• Any outstanding loans or student debt
• Your savings for the buyer's costs (kosten koper)
• Your monthly fixed expenses

As a first-time buyer you qualify for several financial benefits. Up to age 35 you are exempt from transfer tax on homes up to the applicable limit. Many municipalities also offer a starter loan that bridges the gap between your maximum mortgage and the purchase price.

Distinguish between what your home must have (requirements) and what you would like (wishes). Requirements might be the minimum number of bedrooms, a garden or maximum commute time. Wishes might be an open-plan kitchen, an extra bathroom or a particular architectural style.

A buying agent is your personal adviser and negotiator. Especially as a first-time buyer a buying agent is valuable, because you have no experience with the buying process. A good buying agent:

• Knows the local market through and through
• Negotiates on price and conditions
• Checks the purchase contract
• Schedules and attends viewings with you

A structural survey gives you insight into the technical condition of the home. An independent inspector examines the foundation, roof, façades, pipes and any damp problems. The inspection report can also be a reason to renegotiate the price if defects are found.

Resolutive conditions are your safety net in the purchase contract. The two most important are:

• Financing reservation: if you cannot get a mortgage, you can withdraw without penalty
• Structural survey reservation: if the survey reveals significant defects, you can withdraw

Do not rush. Plan at least two viewings: one for first impressions and one to look more critically. On the second viewing bring someone who knows homes, like a buying agent or a building-savvy friend.

You are not just buying a house, you are buying a neighbourhood. Investigate:

• Amenities (shops, schools, public transport)
• Safety figures
• Future development plans
• Atmosphere at different times of the day

The energy label of a home tells you a lot about future energy costs. A home with label A is more efficient than a home with label G. With a lower label you may need to invest in insulation, a heat pump or solar panels.

The housing market can be busy and stressful, but do not let yourself be pushed into rash decisions. It is better to search a bit longer than to buy a home you regret. Ask yourself these questions before bidding:

• Does the home meet my requirements?
• Is the price realistic given the market value?
• Can I afford this monthly long-term?
• Do I feel at home here?