Buying a first house as a starter
Are you a first-time homebuyer and do you want to buy your first house soon? In this article, you will read about the steps you go through during the purchase process. In addition, we give you tips for finding and buying your dream home.
The step-by-step plan for buying your first house
- Discover your financial possibilities as a starter
- Find and visit suitable homes
- Determine a suitable bid and make the bid
- Arrange your mortgage or other form of financing
- Arrange the transfer at the notary and pop open the champagne!
With a purchase real estate agent, you increase your chances of finding and buying your first home. Through Mijn Verkoopmakelaar, you can easily and quickly compare the best purchase real estate agents in your neighborhood. Sign up for free and get in touch. If you like, you can also schedule a free appointment with a mortgage advisor. In 30 minutes, you can ask all the questions you have. Good luck!
Vind een makelaar- Free & without obligation
- Contact via email
- Compare based on performance
Discover your financial possibilities as a starter
Before you can start looking for houses you want to view, you want to know how much you can spend at most. Below you can read about the possibilities you have as a starter when financing your first home.
Taking out a mortgage
As a starter in the housing market, it is likely that you do not have the full purchase amount for a house. Most starters therefore need a mortgage to buy their first house. The maximum mortgage you can get depends on several factors. Think of your income, your expenses and your credit history. Make an appointment with a mortgage advisor to calculate how much you can borrow and what your monthly repayments will be.
Starter's loan: extra loan on top of your mortgage
In about 250 municipalities in the Netherlands, you can apply for a 'starter's loan' as a starter. This loan was created to provide starters with extra financial support when buying a house. If you meet the conditions, then you can get this starter's loan on top of your mortgage. The starter's loan bridges the difference between the purchase price of your house and the maximum mortgage you can get at this moment.
You do not have to pay interest and make repayments for the first 3 years. The municipality covers these costs. After that, you start paying interest and repayments if your income allows it. If this is not the case, you can apply for a reassessment to adjust the monthly costs to your income.
You must have fully repaid the loans after 30 years. If this is not possible due to your income, you must repay the remaining debt in one go. In practice, this often means that you have to take out a new mortgage. If that fails, you may need to sell your house. Do you sell your home earlier? Then the starter's loan must also be repaid.
Read more about the starter's loan.
Discover everything about mortgages:
Investing your own money
Do you have a reasonable amount of savings or have you received a sum of money from a family member (for example, through a donation or inheritance)? You can invest your own money in the purchase of your first home. The advantage of investing your own money is that it lowers your mortgage, so you have lower monthly payments.
But be careful with investing (too much) own money. In addition to the purchase amount, you also pay a considerable number of extra costs when buying a home. Make sure you have enough money left for this. A financial advisor can help you determine how much money you as a starter can bring in for the purchase of your house. You can take out a mortgage for the rest of the amount.
Do you have enough money to be able to pay the entire purchase price of the house with your own money? We advise you to make an appointment with a financial advisor to discuss the possibilities. Buying a house with your own money has a few advantages, but also some (tax) disadvantages. In our article about a house purchase without a mortgage, you can read more about this.
Transfer tax exemption for starters
In the Netherlands, you pay transfer tax on the purchase price of your home. If you are going to live there yourself for a longer period of time, you pay 2% transfer tax (in 2023). But beware: if you as a starter meet certain conditions, you may be entitled to the starter's exemption. You then do not have to pay transfer tax.
You can (in 2023) use the starter's exemption if:
- you are going to live in the house for a long time yourself;
- you are between the ages of 18 and 35 at the time you acquire the house;
- you have not previously used the starter's exemption; and
- the property value is not higher than €440,000.
Read here the details of the conditions of the starter's exemption
Find and view suitable homes
Now that you know what your financial possibilities are and what price category you can search within, the real work begins. You can start looking for homes! You can approach this search in different ways. We will help you on your way.
Consult housing websites
Most starters begin their search on Funda. This is the most well-known and extensive housing website in the Netherlands. There you will find the largest offer of buying houses. You can use specific filters to search specifically for a house that meets your wishes.
A handy tip: create an account on Funda and set up a search. In this way, you will automatically receive the latest housing updates in your inbox every day. Of course, you can consult many more housing websites, such as Pararius and Jaap.
Engage a Real estate agent (tip!)
In the current housing market, it is a big challenge to find a suitable home. As a starter, you often have it a bit harder. If you find a nice house that fits within your budget and meets your requirements, try to schedule a viewing immediately. Due to the high interest, viewing appointments are often booked up very quickly.
Does this sound familiar? Then consider engaging a Real estate agent. A Real estate agent helps you throughout the entire purchase process. A big advantage is that Real estate agents are the first to know about new houses on the market. Often even before they appear on Funda. This gives you a better chance to be able to view the house. In addition, Real estate agents are the first to know about new construction projects and other developments.
Want to know more about Real estate agents? You can read about it here:
Join the NVM Open Houses Day
An exceptional opportunity to view houses is during the NVM Open Houses Day. This day is organized twice a year. During this day, you can visit participating houses without an appointment and speak directly to the owner. This way, you get a better understanding of both the house and the neighborhood. The participating houses are announced on Funda.
Create a checklist and take it with you to the viewing
If you have found a house that appeals to you, contact the selling real estate agent quickly to arrange a viewing. Your buying real estate agent can assist you with this. Before you go to the viewing, it is smart to make a checklist with your living wishes and requirements. For this, use our House Viewing Checklist. This way, you get the most out of your viewing and you won't overlook anything.
Ask the selling real estate agent about any defects during the viewing and thoroughly investigate the property. As a buyer, you have a duty to investigate. Also, take pictures during the viewing, so you can review and assess the property at a later time.
Arrive a little earlier to the viewing to explore the neighborhood. Or take a walk around the district after your visit. Check if all the facilities that are important to you are present and if the atmosphere appeals to you. Ask all your questions about the neighborhood and the facilities to the selling real estate agent. Add these questions to your House Viewing Checklist.
Want to know what else to pay attention to when viewing a property? Read our tips for viewing a property and download our free House Viewing Checklist.
Are you looking for a good purchase Real estate agent to buy your first house? Through Mijn Verkoopmakelaar, you can easily and quickly compare the best real estate agents in your area. Free and without obligation. Answer the questions and hear from multiple real estate agents how they can help you with the purchase of your new house.
- Free & without obligation
- Contact via email
- Compare based on performance
Determine a suitable bid and place the bid
Have you become enthusiastic after viewing a property? Then it is time to place a bid! Below you will find our tips for determining the right bid. In addition, you will read how the process of bidding works.
Determining the right bid
It's time to decide on the bid you want to place. Your purchase Real estate agent will assist you. To determine the right bid, it is important that you know your maximum bid (and do not exceed it). In addition, it is wise to make a good estimate of the value of the house.
Ask yourself the following questions:
- What are the selling prices of comparable homes in the neighborhood?
- What is the WOZ value of the house?
- How long has the house been for sale?
- Has the asking price been adjusted since the start of the sale?
- How much interest is there in the property?
Your purchase Real estate agent will help you answer these questions. Don't have a purchase Real estate agent? On our page about bidding on a house you can read how to find the answers to these questions yourself.
Tip: request a free valuation report from us for a quick indication of the property value! You will have the report in your mailbox within 1 minute, including a handy overview of the sales proceeds of recently sold houses in the neighborhood.
Placing the bid
There are different ways you can place a bid on a house. The seller determines the way in which you can place a bid. The most common bidding forms are: negotiating, sale by registration and online bidding. On our page about placing a bid on a property you can read how these bidding forms work. Ask the selling Real estate agent about the bidding form that is used and place your bid.
Think about your bidding strategy in advance
Discuss the correct bidding strategy with your purchase Real estate agent. Can you place a bid through negotiations? Then you want to place a bid that interests the seller and provokes a counter bid. But of course you want to prevent your bid from being so high that there is no more room for negotiations. In some cases, it is wise to make a final bid immediately. For example, if you don't want or can't negotiate about the price.
It is wise to attach an end date to your bid. This way you can indicate, for example, that you expect a response within three days. In this way, you encourage a quick response and prevent the seller from calmly waiting for the other bids. Also check if there are (besides the selling price) other aspects that could strengthen your bid. Think about the date of transfer or favorable conditions.
You can submit your bid in writing, verbally or by email. If you place a verbal bid, it is wise to confirm this in writing. In this written confirmation, you mention the price, provide an explanation on the bid and mention any conditions precedent. This ensures clarity and prevents misunderstandings.
Conditions precedent
You can include several conditions precedent in your bid. Conditions precedent give you as a buyer the opportunity to cancel the purchase if the specific conditions are met. Generally, a bid without reservation is accepted faster than a bid with reservation. Therefore, think carefully about which conditions you do or do not want to include. Discuss this with your purchase Real estate agent and/or financial advisor.
Common conditions precedent are:
- Reservation of financing
- Reservation of a building inspection
- Reservation of NHG
Read more about these conditions precedent here
Statutory reflection period
Is your bid accepted? That's great news! After signing the purchase contract you as (consumer) buyer are entitled to three days reflection period. During this period, you can cancel the purchase without giving a reason. Your three days reflection period start the day after you have received the purchase contract. 
Arrange your mortgage or other form of financing
Arranging and choosing a mortgage
Most starters need a mortgage when buying their first home. Earlier you read how the mortgage provider calculates your maximum mortgage amount. After signing the purchase contract it's time to arrange the mortgage.
Contact a mortgage advisor to inform you about the different mortgage forms that are available. As a starter, you can take out an annuity mortgage or a linear mortgage (or a combination of both). Also get advice on:
- The interest rate (read more about mortgage interest)
- The term of the mortgage
- The conditions of the mortgage
Want to know more about the different options when taking out a mortgage? You can read it in our article about mortgages.
If you have agreed to a financing condition, the purchase only becomes final when you get your mortgage arranged. If there is no financing condition (or other condition precedent) agreed, the purchase becomes final after the statutory cooling-off period has expired.
Other possibilities for arranging the financing
There are also other ways to arrange your financing. For example, there are different ways in which your (grand)parents can help you buy your first house. A few options are:
- You receive a tax-free gift from your parents
- You receive a loan from your parents (family bank)
- You buy a house with a generation mortgage
- Your parents buy a second home and you rent it from them
- You buy a house together with your parents
In our article about buying a house with the help of your parents you can read more about it. Or discover how your parents can help you in other ways when buying a house.
Arrange the transfer at the notary
At the time of the transfer, the legal ownership of the property is transferred. During the transfer, a few steps are followed. First, a final inspection takes place, where it is checked if the house is in the condition as agreed in the purchase deed. After that, the deed of conveyance is signed. This is the moment you can officially call yourself the owner of your first home!
If you need a mortgage, the mortgage deed is also signed, in which the agreements with the mortgage provider are recorded. After that, the champagne can be opened!
Through Mijn Verkoopmakelaar, you can quickly and easily find the best purchase real estate agents in your area. Sign up for free and receive proposals from purchase real estate agents in your mailbox. If you want, you can also immediately schedule a free appointment with a mortgage advisor. In 30 minutes, you can ask all your questions about taking out a mortgage and the rates at different banks.
- Free & without obligation
- Contact via email
- Compare based on performance
