Are you an expat?
Are you still employed in the Netherlands or are you going to work here and do you consider buying a house in the Netherlands? Below you can find information about the difference between renting and buying, the advantages and the disadvantages, and how much you can borrow according to your financial means.
Rent or buy?
First advice: make a list of your living wishes, living expenses and finances. Naturally your living wishes are very personal. With regard to the living expenses, you are already aware of what you are paying now. Can you afford more in the new situation? If so, how much? Below you will find a summary with the living costs of your own home and a rented home compared. Often these are reoccurring costs: per month, per quarter or per year.
Nevertheless, your considerations should not only include financial matters. For example, are you required to relocate regularly for your work? Are you expecting a promotion soon? Are you and your partner planning to continue working full time? Do you have the option of utilising your pension earlier? These are all factors which play a part in your considerations to buy or rent a house.
Based on the information you provide, your De Hypotheker advisor will give you independent advice on renting or buying. He will also show you the difference between the costs of a rental home and an owned home. All advantages and disadvantages of renting and buying will also be dealt with.
- You can give notice at any time.
- You do not have to pay for maintenance and repairs on the house.
- You do not build equity
- The annual rent may increase.
- The choice of the location of your home is limited.
- If you renovate or make improvements to the house, the possible value increase is for the owner.
- When you move out, you may have to bring the house back to the original condition.
- It is possible to have the same monthly expenses for a long period.
- The mortgage interest is tax deductible.
- The house is all yours when you have fully repaid the mortgage.
- Your equity capital grows.
- Your house is a fixed value investment.
- You have more freedom to choose where you want to live.
- Everything you do to the house is to your own benefit.
- You must take out a home insurance.
- The interest rate after your fixed rate period is an uncertain factor.
- You have to deal with notional rental value for owner-occupiers.
- You have to pay for your own repairs and maintenance.
Do you want to know more about what De Hypotheker can do for you? Make a personal appointment with one of our advisors today for expert consultancy about a mortgage.