A little remark: You don't pay transfer costs up to 35 years old, not 30, as I said in the video. Check out my guide to buying a house in the Netherlands: slowandsteadyblog.com/buying-a-house-netherlands
Hey, Congrats for your new home 🏡 You had the Technical inspection done. Didn't they tell you about the leaking issue? It seems like a waste to hire them if you still have the issues later
Thanks! No, it was impossible to find this for them. Technical inspector does overall structure check. It makes sense to hire them for old houses because they can find some issues with the building or asbestos etc. They will never discover issues like leaking.
Hey Dmitrii, we met earlier this month in Amsterdam. You push me off Rails by telling me this World conference was not on the same topic as your TH-cam channel which is true. Still I did know you from your channel :p
That 11K cost at the notary, besides the inspector and translator, could you include that in your mortgage or did you have to have 11k saved up first and is separate to the mortgage
I think I missed any numbers about monthly payment and downpayment which is especially interesting. In Russia or the US, you need to provide up to a 30% downpayment to get a mortgage. So this isn't the case for the Netherlands? You pay fees and then have your house without downpayment basically? This is...sounds cool and different.
I think I mentioned the down payment in the previous video (th-cam.com/video/VJCvFgF910A/w-d-xo.html). Correct, the down payment for a residential mortgage is €0 in the Netherlands. The mortgage covers 100% of the cost of the house.
@@dpashutskiiwould you recommend having the 11k saved up already before starting the process or can some fees be settled later e.g. technician check up etc ?
Saved money is always good for two reasons: 1. Overbidding is still very common so if you want a good house, there probably be overbidding (it's always cash from your pocket). 2. Fees are all paid in one day - at notary when you're signing the deed and getting the keys. So you have to have them at this date, otherwise no house and there will be huge fine (around 10% of the house price).
Yes you can but it depends on your income and the house price. You can easily calculate your maximum mortgage on this calculator: www.abnamro.nl/en/personal/mortgages/calculating-your-maximum-mortgage.html
Inwas told that if you are on payroll you need to provide the information and documents for the last 3 years of income. How did your wife do this? Also what's happens if you dont have the letter of intent?
Hi, you didn't mention the most important part. you mentioned asking price 385K and agreed on 380. how much was the market value determined by appraiser??? for me this is the most important part. because in my case that I cannot afford overbidding, if the appraiser value the house lower than the agreement, I'd be in trouble. I heard from some people that appraiser usually put the agreement number as the market value and it is more like paperwork but some says opposit. so what was your case?
As far as I know market value determined by the appraiser in 95% cases is the same as the price on Funda or price you started bidding from. In our case it was the first - 385k in our case. That's why overbidding is almost always goes from your own pocket and it's also the reason why we were looking for a house without overbidding.
@@dpashutskii An experienced purchaser hires their own representation (a real estate agent) as they have access to the full history of the transaction history of the home and comparable homes in the area. If the home was purchased 10 years ago for $250K, the current asking price is too high unless significant quantifiable improvements have been made. Multiple appraisals are needed to settle on property value. Also, how long the property has sat on the market is a clue the property may be over-valued. For existing homes, you need a real-estate agent familiar with the area representing YOUR interest. The housing market in the Netherlands is overheated and if you buy at the top of the market, it may become problematic over time when you need to refinance at prevailing rates.
On average, for the last 10 years, all houses in the Netherlands grew 100%++ in value (more than twice). Doesn't matter whether there were any improvements there or not. Your approach sounds about right in general. But if you apply it to the Dutch market right now, especially in Randstad, you will never buy a house. Overbidding 5-10% (of already overpriced value) is normal with 10+ bidders. Nobody even thinks about over-valued pricing; it doesn't matter when it's so hard to win the bid in the first place. People just want to buy a house. Also, I don't think it's "over-heated". There is no indication of it cooling down in the following years. Supply-demand is insane, and the Dutch government won't fix it easily.
@@dpashutskiiTrue, and over bidding is not as bad for most buyers anyway. Not having a house also incurs cost. So paying 10.000 extra is often cheaper than having to rent something for an extra few months.
Congrats! Thank you for all the useful info. Best of luck in your home 😊
Thanks so much! 😊
A little remark: You don't pay transfer costs up to 35 years old, not 30, as I said in the video.
Check out my guide to buying a house in the Netherlands: slowandsteadyblog.com/buying-a-house-netherlands
Thank you for your video. It will help a lot of people
Hope so! Thank you!
Hey,
Congrats for your new home 🏡
You had the Technical inspection done. Didn't they tell you about the leaking issue?
It seems like a waste to hire them if you still have the issues later
Thanks! No, it was impossible to find this for them.
Technical inspector does overall structure check. It makes sense to hire them for old houses because they can find some issues with the building or asbestos etc. They will never discover issues like leaking.
Hey Dmitrii, we met earlier this month in Amsterdam. You push me off Rails by telling me this World conference was not on the same topic as your TH-cam channel which is true. Still I did know you from your channel :p
That's really amazing 🤩 I can't believe, what a chance!
That 11K cost at the notary, besides the inspector and translator, could you include that in your mortgage or did you have to have 11k saved up first and is separate to the mortgage
Already discussed on WA! ;)
Hey, if you got a confirmation from the inspector that the previous owner was to blame for the leakage, why wasn’t it in his report?
You need to go to court to prove that. I think it's a wasted money for lawyers and stress.
Nice house,wish the best for you.very useful info.
Thank you!
"from a country under a huge number of sanctions"
100 times more! Thank you!
I think I missed any numbers about monthly payment and downpayment which is especially interesting.
In Russia or the US, you need to provide up to a 30% downpayment to get a mortgage. So this isn't the case for the Netherlands? You pay fees and then have your house without downpayment basically? This is...sounds cool and different.
I think I mentioned the down payment in the previous video (th-cam.com/video/VJCvFgF910A/w-d-xo.html).
Correct, the down payment for a residential mortgage is €0 in the Netherlands. The mortgage covers 100% of the cost of the house.
@@dpashutskiiwould you recommend having the 11k saved up already before starting the process or can some fees be settled later e.g. technician check up etc ?
Saved money is always good for two reasons:
1. Overbidding is still very common so if you want a good house, there probably be overbidding (it's always cash from your pocket).
2. Fees are all paid in one day - at notary when you're signing the deed and getting the keys. So you have to have them at this date, otherwise no house and there will be huge fine (around 10% of the house price).
Hey Dmitrii do you thing you can do it alone meaning to buy a home alone ? Help
Yes you can but it depends on your income and the house price. You can easily calculate your maximum mortgage on this calculator: www.abnamro.nl/en/personal/mortgages/calculating-your-maximum-mortgage.html
Inwas told that if you are on payroll you need to provide the information and documents for the last 3 years of income. How did your wife do this? Also what's happens if you dont have the letter of intent?
Hi, you didn't mention the most important part. you mentioned asking price 385K and agreed on 380. how much was the market value determined by appraiser??? for me this is the most important part. because in my case that I cannot afford overbidding, if the appraiser value the house lower than the agreement, I'd be in trouble. I heard from some people that appraiser usually put the agreement number as the market value and it is more like paperwork but some says opposit. so what was your case?
As far as I know market value determined by the appraiser in 95% cases is the same as the price on Funda or price you started bidding from. In our case it was the first - 385k in our case.
That's why overbidding is almost always goes from your own pocket and it's also the reason why we were looking for a house without overbidding.
@@dpashutskii An experienced purchaser hires their own representation (a real estate agent) as they have access to the full history of the transaction history of the home and comparable homes in the area. If the home was purchased 10 years ago for $250K, the current asking price is too high unless significant quantifiable improvements have been made. Multiple appraisals are needed to settle on property value. Also, how long the property has sat on the market is a clue the property may be over-valued. For existing homes, you need a real-estate agent familiar with the area representing YOUR interest. The housing market in the Netherlands is overheated and if you buy at the top of the market, it may become problematic over time when you need to refinance at prevailing rates.
On average, for the last 10 years, all houses in the Netherlands grew 100%++ in value (more than twice). Doesn't matter whether there were any improvements there or not.
Your approach sounds about right in general. But if you apply it to the Dutch market right now, especially in Randstad, you will never buy a house.
Overbidding 5-10% (of already overpriced value) is normal with 10+ bidders. Nobody even thinks about over-valued pricing; it doesn't matter when it's so hard to win the bid in the first place. People just want to buy a house.
Also, I don't think it's "over-heated". There is no indication of it cooling down in the following years. Supply-demand is insane, and the Dutch government won't fix it easily.
@@dpashutskiiTrue, and over bidding is not as bad for most buyers anyway. Not having a house also incurs cost. So paying 10.000 extra is often cheaper than having to rent something for an extra few months.
As soon as i have the money for in, i will leave the netherlands. They suck you dry with their taxes
Good luck in the next country!
all that unpaid taxes finally washed through the system 👍
Huh?