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Buying a home is a big step and probably one of the biggest financial decisions of your life. The process is full of challenges and errors can be costly. To help you make a smooth purchase, we list the five most common mistakes and provide tips to prevent them. This way, you can make an informed choice and prevent unnecessary stress.
1. Insufficient insight into your housing needs
Many home buyers begin their search without knowing exactly what they're looking for. They are guided by the offer and therefore lose the overview. This can lead to frustration and stress of choice.
This is how you prevent this: make a list of your housing needs in advance. Think about the number of bedrooms, the location, nearby amenities and the architectural style of the home. A buying agent can help you make these wishes concrete and search in a targeted manner.
2. No clarity about your financial options
Looking for a home without a good idea of your financial situation can lead to disappointment. You find your ideal home but discover that it's out of your budget.
This is how you prevent this: let us give you good advice about your mortgage options in advance. Talk to one of our mortgage advisors about how much you can borrow and set a realistic budget. This way, you know exactly what price range to look for. Calculate your maximum mortgage with the free mortgage check and get immediate insight into your financial options!
3. Getting carried away by emotions too quickly
You see a beautiful home and are completely impressed. As a result, you may not look critically at possible defects or the actual market value.
This is how you prevent this: stay objective and do thorough research. An architectural inspection can reveal hidden defects. A buying agent can also help you take a critical look at the home.
4. No bid strategy
A lot of people don't know how to make a bid. They bid too low and miss the home, or they bid too high and pay unnecessarily much.
Here's how to prevent this: research the market value of the home and determine a smart bid strategy. A buying agent can guide you in this and advise you on a strategic bid, taking into account factors such as the condition of the home and the seller's situation. Are you a starter? Then a starter mortgage can offer you additional options when financing your first home.
Tip: Do you know offer with certainty already? This is a unique insurance. This ensures the amount of 10% of the purchase price. With this insurance, you can therefore make an offer without reservation of financing and without financial risk. This gives you a big chance of winning.
5. Underestimating the legal and financial settlement
Paperwork and financial completion are often underestimated. Carelessness can lead to problems with the transfer or even legal complications afterwards.
This is how you prevent this: make sure you are well aware of all the legal and financial aspects of the purchase. A purchasing agent and one of our mortgage advisors can help you draft and check the purchase deed and guide you through the notarial process. View the starter mortgage options and get appropriate mortgage advice. Our specialists will give you personal mortgage advice so you can be sure you're making the right choice.
Buying your first home is an exciting adventure, but it involves a lot. By avoiding the five most common mistakes, you increase the chances of a successful purchase without unnecessary stress or financial surprises. We are happy to help you start this search well prepared. That's why you can calculate your maximum mortgage in advance with our mortgage check and we've put together a white paper that helps you enter the housing market with confidence.
> Download the free white paper
Attention! Have you been finding a new home for a long time? Then don't forget to have your borrowing capacity checked regularly. This is because interest rate differentials can influence your maximum mortgage and thus your budget. Avoid disappointment and always consult with one of our advisors before making an offer!