The search for a home has certainly not become easier in recent years. We have already written about developments in the housing market in an earlier article, but it will remain exciting again next year. House prices in the Netherlands are continuing to rise, supply is tight and economists are cautious about sharing their mortgage rate forecast. Many home seekers notice that the calculation of the maximum mortgage no longer matches what homes cost. This applies to two-earners, but especially to singles. The gap between what you can borrow and what you need is simply wide.
• Rising house prices and limited supply: house prices in the Netherlands have risen again in recent years. It doesn't matter if you're a starter or a go-getter: almost everyone is feeling the rising demand. In addition, the supply remains limited because the flow is not good.
• Interest rates remain unpredictable: it is difficult to predict mortgage rates. When interest rates rise, your maximum borrowing space decreases. When interest rates fall, there is actually more demand, so that house prices can rise again.
• Maximum mortgage rules change regularly: the calculation of your maximum mortgage changes almost every year. Think of stricter borrowing standards or adapted rules for energy-efficient homes. As a result, your financial space may look different next year than this year.
For singles, this is extra challenging. You bear all the housing costs yourself, which ensures a relatively lower borrowing capacity. As a result, the step to buying a home is sometimes even greater.
Fortunately, the gap is not always unbridgeable. There are various ways to get closer to a home for sale. A few examples include:
A family loan can help you get an extra bit of financing. If you are at the upper limit with the lender, the family loan must be an agreement where the loan costs are returned by the lender, so that the loan does not cost money. This is what you call a loan agreement.
In addition to a family loan with a loan structure, you can of course also receive a regular donation from parents or family. The more your own money you deposit, the less you have to borrow from the bank. This can make a difference. In addition, it is important that any gift tax is paid by the donor.
For starters, many municipalities offer a starter loan on. This can (partially) bridge the difference between your maximum mortgage and the purchase price. This helps you take a first step, despite rising house prices in the Netherlands.
Influencers have an extra advantage in their hands: the excess value on the current home. Do you have excess value when selling your home? Then you can use this when purchasing. Excess value is seen as own money. The principle is the same as with the donation: if you have more money to spend on the purchase, you will need less mortgage. This can help reduce the gap. Calculating your maximum mortgage may not be enough for the full purchase price, but it is partly.
It is therefore important to realize that there are several options that can stand side by side when buying a home. By taking a smart look at financing, your own money, family structures and municipal regulations, you can still take steps, even in a market where the forecast of mortgage rates and house prices in the Netherlands remain unpredictable.
Let the possibilities in your personal situation be calculated with the free mortgage check at Van Loon. Our advisors calculate your maximum mortgage based on your income and help you think about additional solutions such as a family loan, excess value or other smart structures. We can be found in Dongen, Dordrecht, Rotterdam or one of our other eight locations. Prefer online? That's no problem either.