Buying your first home

What does buying a first home involve?

As a first-time buyer you purchase a home without selling an existing one. Your mortgage is therefore based entirely on your income, your own savings and the value of the property you want to buy.

A mortgage for a first home is almost always an annuity or linear mortgage: you repay during the term, which keeps you entitled to Dutch mortgage interest deduction.

Who is this relevant for?

• You currently rent or live with family and want to buy your first home.
• You are buying on your own or together with a partner.
• You have a permanent or temporary contract, or recently started as a freelancer.
• You want to know what is realistic before you start viewing properties.

What should you look out for?

• Your maximum mortgage depends on your income, student debt and other credit.
• The mortgage covers the property itself; the buyer's costs are paid from your own savings.
• Buyers under 35 are often exempt from transfer tax for homes below the applicable limit.
• With the National Mortgage Guarantee (NHG) you usually pay a lower rate and are better protected if things go wrong.
• An energy-efficient home can increase your borrowing capacity.

What are your options?

Together we look at the mortgage type, the fixed-rate period that matches your plans and whether NHG is worthwhile. We also decide whether your savings are best used for the buyer's costs or for a lower monthly payment.

Buying together? We look at how both incomes count and which agreements you record about the savings each of you contributes.

Important points of attention

• Do not plan around your maximum mortgage, but around a monthly payment that feels comfortable.
• Keep a reserve for maintenance, furnishing and unexpected costs.
• Agree on a realistic financing-condition period in the purchase agreement.
• Consider term life and income protection insurance as a safety net.

How Voorne Hypotheekadvies helps you

You have one point of contact from the first calculation to the appointment at the notary. I am independent and compare lenders on rate, conditions and speed — in English or Dutch, including an explanation of the Dutch paperwork.