It is common knowledge that finding and financing a suitable home is a big challenge for first-time buyers these days. Hence, in this blog, we provide four handy tips for first-time home buyers.
A start-up loan is a special mortgage loan for buying your first home! Whether you qualify for this loan is determined by the municipality or province. Check online what conditions apply to your province or municipality and maybe this special mortgage loan will help you find your dream home!
Opt for energy-saving features!
Several lenders make it possible to finance energy-saving measures through the mortgage. This can be up to 106 per cent of the house value, which means that features such as double glazing, insulation, solar panels or a fuel-efficient central heating system can help you get a higher mortgage. However, you must be able to prove here that the extra money is spent on these energy-saving features.
Once you buy a property up to €310,000, you are eligible for the National Mortgage Guarantee (NHG). This means you get a discount on the interest rate, reducing your monthly costs. In doing so, you do pay 0.7% of the mortgage amount as commission, but you'll quickly recoup this through the lower interest rate.
It can be hugely tempting to bid just a few thousand euros more than you actually intended. You get carried away and worry that you might not be the highest bidder otherwise. Yet this can get you into financial trouble. For instance, you spend too much on savings or your monthly expenses become higher, than you can actually afford. In that case, rather look further ahead and stay true to your budget!
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