Tag: buying a property

What you Need to Know About Buying Property in Amsterdam

What you Need to Know About Buying Property in Amsterdam

If you are looking for a property in Amsterdam as a visitor or even as a native, then it would be best for you to look for an agent or mortgage advisor. This is because of the large competition, especially in the economic sector. Incentives on tax are also high when buying land, but it comes with long-term benefits when you have a home of your own. If you plan on getting a property to rent out, then you may also need a permit for your tenant. This will hence mean that you are required to rent out the property with your second name.

Ways to go about Finding a Property in Amsterdam

There are a number of means that you can use to get a good property that you can own in Amsterdam, which are as follows;

Real estate agents: Agents are very important, especially if you are a newbie in Amsterdam, as they will give you info on the properties that are on sale, as well as advice. They do this on commission, ranging from 1 to 2% on the price that you eventually get to buy the land. If you are in the metropolitan area in Amsterdam, then you can consider MVA- a professional association of agents that are active. There are usually about 500 certified agents in that area.

Adverts: If you read newspapers, then you can also consider property advertisements, usually located at the back of the paper. Most of the adverts on a property will be shown on Wednesdays and Thursdays. You can also consider buying a special property paper.

Online sources: The internet is generally the hub of almost anything online. Agents will generally post information about properties in websites such as Funda or MVA. A mortgage advisor can also come in very much in handy on advising of new properties in the region. You can also consider looking for new projects in construction or buildings.

Final Verdict

The cost of buying a property in Amsterdam may be at 8% of the purchase price. However, if you are purchasing through an agent, you may be required to pay for the services of that agent, or even transfer costs on transactions. It is therefore very important to consider the costs so that you don’t end up spending so much. You can also consider negotiations with the buyer. However, it is also important to note that the agent can show the house to other potential customers. Therefore you need to know how to protect your own interests. Your price needs to be on the market value of the property, rather than the asking price. Your offer needs to be subject to the proviso ‘raising finance’. On concluding the sale, both you and the seller will need to sign a transfer contract which typically takes place in Dutch. You can, therefore, get an interpreter in advance if you need one.