In this article, we'll explore the concept of "eigen geld" (own money) in the Dutch housing market and why it's crucial for homebuyers to understand this term before making a bid. We'll discuss the various costs that eigen geld can cover, such as closing fees and down payments. Whether you're a first-time buyer or a seasoned investor, understanding the role of eigen geld is essential for confidently navigating the Dutch housing market.
You can only borrow up to 100% of your home's value in a mortgage, so you will also have to put in your own money. This is how you finance additional costs, for instance. Moreover, sometimes your maximum mortgage is not enough to buy a house; in that case, too, you will need your own money to buy a home.
How much of your own money you will require varies. You can only finance the house with the mortgage you get from the bank. Buying a house involves many other costs. All these additional costs you have to pay out of your pocket. These include:
On average, buyers' costs amount to around 5 to 6% of the purchase price of a home.
There are three ways you can put private money in your own house. First, you can use it to pay the additional costs. Second, you can use it to pay part of the purchase price. Do you already have a house for sale, and are you moving? Then there is a third possibility, incorporating the amount of your money into the life insurance. Do you want to pay part of the purchase price with your own money? Then the mortgage you require to buy the house will be reduced. So you will need to take out a smaller loan.
Bringing in your own money will not affect the maximum mortgage amount you can borrow. Your income and the money you contribute will determine the full amount you can borrow. If you put in your own money, you can buy a more expensive home or pay a lower interest rate.
Your private money is money that you have in your possession. This can be the savings you received through a donation or inheritance from a family member. You can use this grant to buy a house or repay your mortgage. A gift counts as your own money, so you may use it to pay additional costs. Personal money also includes the excess value from selling your current home. If you are going to buy a second home with surplus value, we also refer to it as personal money.
Bij het kopen van een huis gaat het niet alleen om het vinden van de perfecte woning, maar ook om het navigeren door het complexe aankoopproces. Gelukkig is er Walter, jouw betrouwbare digitale aankoopmakelaar die je helpt bij elke stap die je moet nemen.
Vroeger, toen de melkflessen nog van glas waren, ging je met een stapel papier onder de arm naar de hypotheekadviseur. Dit kan nog steeds, maar je kunt soms ook zelf een hypotheek afsluiten. En dat is makkelijker dan je denkt. Mits je goed bent voorbereid.