Knowledge base
Buying your first home: what to watch out for
As a first-time buyer you are buying without experience and without a home to sell first. Below you can read where things go wrong for first-time buyers and how to avoid that.
In short
- First-time buyers often lose a bid because they do not know what a home is really worth.
- Alongside the purchase price, work out the buyer's costs: you usually pay those from your own money.
- Buying support costs €2,499, no cure no pay, settled through the notary.
Why first-time buyers have it harder
As a first-time buyer you are often on your own. You have no home to sell, you have to put your entire budget together from savings and a mortgage, and you are competing with buyers who have been through this process before.
Many first-time buyers we speak to have already lost a bid once. They offered what they thought the home was worth, but did not know how fiercely other buyers would bid or which conditions they could drop without running a risk.
That is where a buying agent makes the difference. Your dedicated agent knows what comparable homes in the area have fetched and where there is room to negotiate. So you do not make an offer that is hopelessly low, and you do not pay more than you need to either.
Work out your budget honestly
A second stumbling block is the budget. As a first-time buyer you have to work out exactly how much of your own money you need alongside your mortgage. The buyer's costs are usually not fully financed, so you pay those from your own funds.
Kosten koper are the costs that come on top of the purchase price. Work out in advance which items you will face, so that during a viewing you know what you can really offer.
- Transfer tax, depending on your situation and age
- Notary fees for the transfer deed and the mortgage deed
- A valuation of the property for your mortgage application
- A building survey, if you have one carried out
- Mortgage advice and arrangement fees
- The costs of the buying agent
What your dedicated agent does for you
Buying a house is more than liking a property on Funda. We come to viewings and watch for what is easy to miss yourself: damp, cracks, outdated pipework, a roof due for replacement.
We then establish together what the home is realistically worth, so your offer rests on figures rather than gut feeling. After that we conduct the negotiation with the selling agent, including the conditions precedent that protect you. Those are clauses that let you get out of the purchase without penalty, for example if your mortgage falls through or if the building survey reveals major defects.
Throughout, you keep the same agent. From the first call to the handover of the keys at the notary.
What it costs: a fixed amount of €2,499
Many first-time buyers wonder what a buying agent costs. If an agent works on commission, the fee moves with the purchase price: the more you pay, the more that agent earns. That interest works against you at the very moment it matters.
With us you pay €2,499, whatever the final purchase price. You only pay if you actually buy a home, and settlement runs through the notarial deed. So you do not have to advance anything.
All-in refers to our support, not to the total buyer's costs. Transfer tax, notary fees, a valuation report, a building survey and mortgage advice are paid separately to the parties doing that work.
Want to know what that looks like in your situation, with your budget and your wishes? Request your proposal without obligation. We will then call you.
Frequently asked questions
Questions about buying your first home
What does a buying agent cost when buying a first home?
You pay a fixed amount of €2,499 for the whole process, whatever the purchase price. You only pay if you actually buy the home, and settlement runs through the notarial deed. You advance nothing.
How much of your own money does a first-time buyer need?
That depends on the purchase price and the buyer's costs, such as transfer tax, notary fees and the valuation. Those are usually not included in your mortgage, so you pay them from your own funds. In the introductory call we work it through for your situation.
Is a buying agent worth it for first-time buyers?
As a first-time buyer you often have no experience with bidding and negotiating. We know the local market, assess the condition of the property and conduct the negotiation on your behalf. So you do not overpay and do not take on risks you cannot oversee.
What happens if you end up not buying a home?
Then you pay nothing. We work on a no cure no pay basis: no purchase, no costs.
Is the building survey included in the €2,499?
No. The survey is carried out by an independent surveyor, who invoices separately. The same applies to the valuation, the mortgage advice and the notary. We help you engage those parties and go through the outcomes with you.
In which towns do you guide first-time buyers?
Throughout the Netherlands, from Amsterdam, Utrecht and Amersfoort to Groningen, Leeuwarden, Zwolle and Enschede, and beyond.
Klaar om te kijken wat wij voor je kunnen doen?
Vraag vrijblijvend je voorstel aan. Daarna nemen we telefonisch contact met je op.