Only buying a house in Rotterdam. How do you address that?

Are you single? You are not the only one! Did you know that more than half of Rotterdammers have a one-person household? You’ll snap out of that, huh! There is great demand for so-called “single homes,” unfortunately the current housing supply consists largely of large single-family homes and the small apartments have risen sharply in price in a short time due to the huge demand. Unfortunately, we can’t solve that problem for you that way but we can give you tips on how to best approach buying a home in the current market.

1) Is it financially feasible?
As a single person, it is not always easy to get financing on a house because, of course, you can only get a mortgage based on 1 salary. However, as a single person, you do get to use a larger portion of your income. Don’t get discouraged: Just make an appointment with a mortgage broker and get advice on your options. Maybe you will get a pleasant surprise!

2) Putting your own money in
If you can borrow a substantial amount of money from the bank for a mortgage, that’s obviously good news. Now it’s a matter of doing the math. How much own money do I need to buy a house in that price range? Since January 1, 2018, you have to pay the entire “cost of buyer” yourself and you can no longer co-finance this. Cost of buyer is about 5/6% of the purchase price, a hefty sum. Especially for someone who has to cough it up alone. Don’t have the amount in your savings account but are incredibly eager to buy your own home? Then ask around you or your family if you can borrow (part of) the amount.

3) What does the future look like?
For all those practical matters above, it is important to ask yourself the question of what your future plans are. Sometimes not always easy. Try to get the upcoming 5 years in front of you. Do you still want to travel? Do you have a steady job or want to make a career switch? Do you want freedom or do you want to build something? A wise lesson: You cannot always foresee what the future will bring you, and it is a waste to just wait and see because in the future something might change. Think carefully about what you want right now at this moment!

4) What if I get a partner?
Do you also get tired of saying, “It’s a waste to buy a house now, soon you’ll get a partner and want to live together”? Should you worry about this yourself, consider during your search (for a house, not partner;-)) that you are going for a house where you can also live together. Are you thinking now: nice thought but that’s not financially feasible? Try to buy a property that will also sell easily again. And besides: You can’t oversee everything.

5) Having to decide alone
As a single person, you don’t have a partner to think with you about all kinds of difficult choices that come your way when you buy a house. Think about your list of requirements, arranging your mortgage, negotiating, but especially with the choice “Is this the house for me?”. It is quite difficult to make such a big decision alone. It’s nice to have someone to help you make the decision to buy a home. But who says that has to be a partner? A good friend, a family member or a buying agent.

Of our customers, a large proportion buy alone. They experience our help as extra nice (besides friends and family) because we go along with (almost) every viewing, afterwards we can spar with you about the question “is this the house for you” and of course we can tell you what I think the house is worth. That way you don’t have to do it alone!

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